JELBX vs. BRUFX

Last updated Aug 1, 2026

JELBX (John Hancock Variable Insurance Trust Managed Volatility Balanced Portfolio) and BRUFX (Bruce Fund) are both Diversified Portfolio funds. Over the past 10 years, JELBX returned 4.32%/yr vs 7.56%/yr for BRUFX. Their 0.55 correlation means they have sometimes moved together and sometimes differently. JELBX charges 0.17%/yr vs 0.68%/yr for BRUFX.

Performance

JELBX vs. BRUFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Variable Insurance Trust Managed Volatility Balanced Portfolio (JELBX) and Bruce Fund (BRUFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JELBX achieves a 5.13% return, which is significantly lower than BRUFX's 16.02% return. Over the past 10 years, JELBX has underperformed BRUFX with an annualized return of 4.32%, while BRUFX has yielded a comparatively higher 7.56% annualized return.

JELBX

• 1D: 1.15%
• 1M: -0.86%
• 6M: 3.24%
• YTD: 5.13%
• 1Y: 11.78%
• 3Y*: 9.21%
• 5Y*: 4.10%
• 10Y*: 4.32%
• ALL TIME*: 1.51%

BRUFX

• 1D: -0.39%
• 1M: 0.09%
• 6M: 11.25%
• YTD: 16.02%
• 1Y: 29.17%
• 3Y*: 12.15%
• 5Y*: 5.98%
• 10Y*: 7.56%
• ALL TIME*: 9.51%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BRUFX Bruce Fund	$0.00	$0.00	$0.00
JELBX John Hancock Variable Insurance Trust Managed Volatility Balanced Portfolio	$0.00	$0.00	$0.00

JELBX vs. BRUFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JELBX John Hancock Variable Insurance Trust Managed Volatility Balanced Portfolio	5.13%	9.73%	9.33%	12.06%	-15.06%	9.76%	1.76%	17.91%	-4.89%	7.55%
BRUFX Bruce Fund	16.02%	14.89%	4.45%	-0.74%	-8.80%	17.35%	12.06%	22.42%	-3.99%	12.48%

Correlation

The correlation between JELBX and BRUFX is 0.42, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.42
Correlation (3Y) Balances recent behavior with more history.	0.49
Correlation (5Y) Shows whether the relationship held over a longer period.	0.57
Correlation (10Y) Provides a long-term view across more market conditions.	0.63
Correlation (All Time) Calculated using the full available price history since Jan 2, 1997	0.55

The correlation between JELBX and BRUFX shifts across timeframes, from 0.42 (1 year) to 0.63 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

JELBX vs. BRUFX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

JELBX

JELBX Risk / Return Rank: 53
JELBX Sharpe Ratio Rank: 52
JELBX Sortino Ratio Rank: 52
JELBX Omega Ratio Rank: 52
JELBX Calmar Ratio Rank: 52
JELBX Martin Ratio Rank: 59

BRUFX

BRUFX Risk / Return Rank: 94
BRUFX Sharpe Ratio Rank: 96
BRUFX Sortino Ratio Rank: 94
BRUFX Omega Ratio Rank: 90
BRUFX Calmar Ratio Rank: 93
BRUFX Martin Ratio Rank: 96

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

JELBX vs. BRUFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Variable Insurance Trust Managed Volatility Balanced Portfolio (JELBX) and Bruce Fund (BRUFX). 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.

	JELBX	BRUFX	Difference
Sharpe ratio: Return per unit of total volatility	1.43	2.73	-1.30
Sortino ratio: Return per unit of downside risk	2.06	3.87	-1.81
Omega ratio: Gain probability vs. loss probability	1.26	1.49	-0.22
Calmar ratio: Return relative to maximum drawdown	1.98	3.78	-1.79
Martin ratio: Return relative to average drawdown	7.96	17.01	-9.05

JELBX vs. BRUFX - Sharpe Ratio Comparison

The current JELBX Sharpe Ratio is 1.43, which is lower than the BRUFX Sharpe Ratio of 2.73. The chart below compares the historical Sharpe Ratios of JELBX and BRUFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JELBX vs. BRUFX - Drawdown Comparison

The maximum JELBX drawdown since its inception was -50.73%, which is greater than BRUFX's maximum drawdown of -44.50%. Use the drawdown chart below to compare losses from any high point for JELBX and BRUFX.

Drawdown Indicators

	JELBX	BRUFX	Difference
Max Drawdown Largest peak-to-trough decline	-50.73%	-44.50%	-6.23%
Max Drawdown (1Y) Largest decline over 1 year	-6.38%	-7.67%	+1.29%
Max Drawdown (3Y) Largest decline over 3 years	-9.82%	-9.66%	-0.16%
Max Drawdown (5Y) Largest decline over 5 years	-18.54%	-17.91%	-0.63%
Max Drawdown (10Y) Largest decline over 10 years	-18.81%	-25.44%	+6.63%
Current Drawdown Current decline from peak	-1.71%	-1.71%	0.00%
Average Drawdown Average peak-to-trough decline	-13.06%	-9.04%	-4.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.52%	1.70%	-0.18%

Volatility

JELBX vs. BRUFX - Volatility Comparison

John Hancock Variable Insurance Trust Managed Volatility Balanced Portfolio (JELBX) and Bruce Fund (BRUFX) have volatilities of 2.37% and 2.42%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JELBX	BRUFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.37%	2.42%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	7.15%	8.50%	-1.35%
Volatility (1Y) Calculated over the trailing 1-year period	8.87%	10.65%	-1.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.71%	10.58%	-1.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.56%	11.65%	-3.09%

JELBX vs. BRUFX - Expense Ratio Comparison

JELBX has a 0.17% expense ratio, which is lower than BRUFX's 0.68% expense ratio.

Dividends

JELBX vs. BRUFX - Dividend Comparison

JELBX's dividend yield for the trailing twelve months is around 6.45%, more than BRUFX's 5.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BRUFX Bruce Fund	5.48%	6.35%	5.01%	6.46%	13.31%	9.25%	5.83%	2.03%	2.49%	4.11%	6.26%	4.63%
JELBX John Hancock Variable Insurance Trust Managed Volatility Balanced Portfolio	6.45%	6.78%	2.98%	10.88%	6.00%	2.55%	7.95%	6.43%	10.30%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JELBX and BRUFX in my portfolio?

JELBX and BRUFX have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JELBX or BRUFX?

BRUFX has higher volatility (2.42%) compared to JELBX (2.37%). In terms of maximum drawdown, JELBX dropped -50.73% vs BRUFX's -44.50%.

Which has better risk-adjusted returns?

BRUFX currently has the higher Sharpe Ratio (2.73 vs 1.43), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.