JDVL vs. JHMU

Last updated Jun 27, 2026

JDVL (John Hancock Disciplined Value Select ETF) and JHMU (John Hancock Dynamic Municipal Bond ETF) are both exchange-traded funds - JDVL is a Large Cap Value Equities fund actively managed by John Hancock, while JHMU is a Municipal Bonds fund tracking the John Hancock Dimensional Utilities Index. JDVL is actively managed, while JHMU is passively managed. At a 0.29 correlation, their price movements are largely independent. JDVL charges 0.56%/yr vs 0.39%/yr for JHMU.

Performance

JDVL vs. JHMU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Disciplined Value Select ETF (JDVL) and John Hancock Dynamic Municipal Bond ETF (JHMU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JDVL achieves a 16.39% return, which is significantly higher than JHMU's 2.29% return.

JDVL

• 1D: -0.81%
• 1M: 3.42%
• YTD: 16.39%
• 6M: 14.70%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

JHMU

• 1D: 0.10%
• 1M: 0.95%
• YTD: 2.29%
• 6M: 2.58%
• 1Y: 7.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JDVL vs. JHMU - Yearly Performance Comparison

	2026 (YTD)	2025
JDVL John Hancock Disciplined Value Select ETF	16.39%	10.04%
JHMU John Hancock Dynamic Municipal Bond ETF	2.29%	4.24%

Correlation

The correlation between JDVL and JHMU is 0.29, 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 Aug 6, 2025	0.29

Return for Risk

JDVL vs. JHMU — Risk / Return Rank

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

JDVL

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

JHMU

JHMU Risk / Return Rank: 79
JHMU Sharpe Ratio Rank: 89
JHMU Sortino Ratio Rank: 92
JHMU Omega Ratio Rank: 92
JHMU Calmar Ratio Rank: 61
JHMU Martin Ratio Rank: 60

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.

JDVL vs. JHMU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Disciplined Value Select ETF (JDVL) and John Hancock Dynamic Municipal Bond ETF (JHMU). 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.

	JDVL	JHMU	Difference
Sharpe ratio: Return per unit of total volatility	—	2.53	—
Sortino ratio: Return per unit of downside risk	—	3.76	—
Omega ratio: Gain probability vs. loss probability	—	1.54	—
Calmar ratio: Return relative to maximum drawdown	—	2.59	—
Martin ratio: Return relative to average drawdown	—	9.21	—

Drawdowns

JDVL vs. JHMU - Drawdown Comparison

The maximum JDVL drawdown since its inception was -9.17%, which is greater than JHMU's maximum drawdown of -4.48%. Use the drawdown chart below to compare losses from any high point for JDVL and JHMU.

Drawdown Indicators

	JDVL	JHMU	Difference
Max Drawdown Largest peak-to-trough decline	-9.17%	-4.48%	-4.69%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.77%	—
Current Drawdown Current decline from peak	-1.08%	0.00%	-1.08%
Average Drawdown Average peak-to-trough decline	-1.29%	-0.83%	-0.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.78%	—

Volatility

Volatility by Period

	JDVL	JHMU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.71%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.28%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.41%	2.83%	+11.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.41%	4.08%	+10.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.41%	4.08%	+10.33%

JDVL vs. JHMU - Expense Ratio Comparison

JDVL has a 0.56% expense ratio, which is higher than JHMU's 0.39% expense ratio.

Dividends

JDVL vs. JHMU - Dividend Comparison

JDVL's dividend yield for the trailing twelve months is around 1.47%, less than JHMU's 3.74% yield.

Position	TTM	2025	2024	2023
JDVL John Hancock Disciplined Value Select ETF	1.47%	1.71%	0.00%	0.00%
JHMU John Hancock Dynamic Municipal Bond ETF	3.74%	4.36%	7.29%	0.63%

Frequently Asked Questions

Can I hold both JDVL and JHMU in my portfolio?

JDVL and JHMU have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JDVL or JHMU?

On fees, JHMU is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JDVL or JHMU?

JHMU is cheaper with a 0.39% expense ratio, compared with 0.56% for JDVL.

Which ETF pays a higher dividend yield, JDVL or JHMU?

JHMU has the higher dividend yield at 3.74%, compared with 1.47% for JDVL.

What is the main difference between JDVL and JHMU?

JDVL is categorized as Large Cap Value Equities, while JHMU is Municipal Bonds. Their fees differ too: 0.56% for JDVL and 0.39% for JHMU.