JAKVX vs. HEFT

Last updated Jun 23, 2026

JAKVX (John Hancock Disciplined Value Global Long/Short Fund Class R6) and HEFT (Hedgeye Fourth Turning ETF) are both Long-Short funds. Both are actively managed. At a 0.46 correlation, their price movements are largely independent. JAKVX charges 1.54%/yr vs 0.70%/yr for HEFT.

Performance

JAKVX vs. HEFT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Disciplined Value Global Long/Short Fund Class R6 (JAKVX) and Hedgeye Fourth Turning ETF (HEFT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JAKVX achieves a 9.63% return, which is significantly higher than HEFT's 5.40% return.

JAKVX

• 1D: -1.07%
• 1M: -2.33%
• YTD: 9.63%
• 6M: 10.46%
• 1Y: 20.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HEFT

• 1D: 0.59%
• 1M: -1.08%
• YTD: 5.40%
• 6M: 4.41%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

JAKVX vs. HEFT - Yearly Performance Comparison

	2026 (YTD)	2025
JAKVX John Hancock Disciplined Value Global Long/Short Fund Class R6	9.63%	3.35%
HEFT Hedgeye Fourth Turning ETF	5.40%	1.10%

Correlation

The correlation between JAKVX and HEFT is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 21, 2025	0.46

Return for Risk

JAKVX vs. HEFT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JAKVX

JAKVX Risk / Return Rank: 81
JAKVX Sharpe Ratio Rank: 84
JAKVX Sortino Ratio Rank: 81
JAKVX Omega Ratio Rank: 81
JAKVX Calmar Ratio Rank: 85
JAKVX Martin Ratio Rank: 71

HEFT

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JAKVX vs. HEFT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Disciplined Value Global Long/Short Fund Class R6 (JAKVX) and Hedgeye Fourth Turning ETF (HEFT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	JAKVX	HEFT	Difference
Sharpe ratio: Return per unit of total volatility	2.53	—	—
Sortino ratio: Return per unit of downside risk	3.54	—	—
Omega ratio: Gain probability vs. loss probability	1.49	—	—
Calmar ratio: Return relative to maximum drawdown	3.82	—	—
Martin ratio: Return relative to average drawdown	12.82	—	—

Drawdowns

JAKVX vs. HEFT - Drawdown Comparison

The maximum JAKVX drawdown since its inception was -5.16%, smaller than the maximum HEFT drawdown of -9.17%. Use the drawdown chart below to compare losses from any high point for JAKVX and HEFT.

Drawdown Indicators

	JAKVX	HEFT	Difference
Max Drawdown Largest peak-to-trough decline	-5.16%	-9.17%	+4.01%
Max Drawdown (1Y) Largest decline over 1 year	-5.16%	—	—
Current Drawdown Current decline from peak	-3.87%	-4.91%	+1.04%
Average Drawdown Average peak-to-trough decline	-0.84%	-3.30%	+2.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.53%	—	—

Volatility

Volatility by Period

	JAKVX	HEFT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.81%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.33%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	7.78%	13.43%	-5.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.56%	13.43%	-5.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.56%	13.43%	-5.87%

JAKVX vs. HEFT - Expense Ratio Comparison

JAKVX has a 1.54% expense ratio, which is higher than HEFT's 0.70% expense ratio.

Dividends

JAKVX vs. HEFT - Dividend Comparison

JAKVX's dividend yield for the trailing twelve months is around 7.73%, more than HEFT's 0.02% yield.

Position	TTM	2025
HEFT Hedgeye Fourth Turning ETF	0.02%	0.02%
JAKVX John Hancock Disciplined Value Global Long/Short Fund Class R6	7.73%	8.47%

Frequently Asked Questions

Can I hold both JAKVX and HEFT in my portfolio?

JAKVX and HEFT have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.