JELBX vs. SCLAX

Last updated Jun 5, 2026

JELBX (John Hancock Variable Insurance Trust Managed Volatility Balanced Portfolio) and SCLAX (SEI Institutional Managed Trust Multi-Asset Capital Stability Fund) are both Diversified Portfolio funds from BlackRock. Over the past 10 years, JELBX returned 4.63%/yr vs 3.22%/yr for SCLAX. A 0.77 correlation means they provide meaningful diversification when combined. JELBX charges 0.17%/yr vs 0.62%/yr for SCLAX.

Performance

JELBX vs. SCLAX - 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 SEI Institutional Managed Trust Multi-Asset Capital Stability Fund (SCLAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JELBX achieves a 6.42% return, which is significantly higher than SCLAX's 2.46% return. Over the past 10 years, JELBX has outperformed SCLAX with an annualized return of 4.63%, while SCLAX has yielded a comparatively lower 3.22% annualized return.

JELBX

• 1D: -0.51%
• 1M: 1.93%
• YTD: 6.42%
• 6M: 6.61%
• 1Y: 16.22%
• 3Y*: 11.00%
• 5Y*: 4.63%
• 10Y*: 4.63%

SCLAX

• 1D: -0.19%
• 1M: 0.87%
• YTD: 2.46%
• 6M: 2.57%
• 1Y: 6.80%
• 3Y*: 6.12%
• 5Y*: 3.40%
• 10Y*: 3.22%

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

JELBX vs. SCLAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JELBX John Hancock Variable Insurance Trust Managed Volatility Balanced Portfolio	6.42%	9.73%	9.33%	12.06%	-15.06%	9.76%	1.76%	17.91%	-4.89%	7.55%
SCLAX SEI Institutional Managed Trust Multi-Asset Capital Stability Fund	2.46%	6.49%	4.92%	6.96%	-3.74%	1.72%	3.30%	7.91%	-0.67%	3.88%

Correlation

The correlation between JELBX and SCLAX is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Jan 3, 2013	0.77

The correlation between JELBX and SCLAX has been stable across timeframes, ranging from 0.77 to 0.84 - a consistent structural relationship.

Return for Risk

JELBX vs. SCLAX — Risk / Return Rank

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

JELBX

JELBX Risk / Return Rank: 66
JELBX Sharpe Ratio Rank: 66
JELBX Sortino Ratio Rank: 68
JELBX Omega Ratio Rank: 65
JELBX Calmar Ratio Rank: 64
JELBX Martin Ratio Rank: 68

SCLAX

SCLAX Risk / Return Rank: 73
SCLAX Sharpe Ratio Rank: 81
SCLAX Sortino Ratio Rank: 81
SCLAX Omega Ratio Rank: 82
SCLAX Calmar Ratio Rank: 62
SCLAX Martin Ratio Rank: 62

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.

JELBX vs. SCLAX - 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 SEI Institutional Managed Trust Multi-Asset Capital Stability Fund (SCLAX). 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.

	JELBX	SCLAX	Difference
Sharpe ratio: Return per unit of total volatility	2.33	2.63	-0.30
Sortino ratio: Return per unit of downside risk	3.37	3.86	-0.50
Omega ratio: Gain probability vs. loss probability	1.44	1.55	-0.11
Calmar ratio: Return relative to maximum drawdown	3.00	2.99	+0.01
Martin ratio: Return relative to average drawdown	12.72	11.99	+0.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JELBX vs. SCLAX - Sharpe Ratio Comparison

The current JELBX Sharpe Ratio is 2.33, which is comparable to the SCLAX Sharpe Ratio of 2.63. The chart below compares the historical Sharpe Ratios of JELBX and SCLAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JELBX	SCLAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.33	2.63	-0.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	1.11	-0.55
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	1.17	-0.62
Sharpe Ratio (All Time) Calculated using the full available price history	0.14	1.02	-0.87

Drawdowns

JELBX vs. SCLAX - Drawdown Comparison

The maximum JELBX drawdown since its inception was -50.73%, which is greater than SCLAX's maximum drawdown of -5.59%. Use the drawdown chart below to compare losses from any high point for JELBX and SCLAX.

Drawdown Indicators

	JELBX	SCLAX	Difference
Max Drawdown Largest peak-to-trough decline	-50.73%	-5.59%	-45.14%
Max Drawdown (1Y) Largest decline over 1 year	-6.38%	-2.32%	-4.06%
Max Drawdown (3Y) Largest decline over 3 years	-9.82%	-3.41%	-6.41%
Max Drawdown (5Y) Largest decline over 5 years	-18.54%	-5.59%	-12.95%
Max Drawdown (10Y) Largest decline over 10 years	-18.81%	-5.59%	-13.22%
Current Drawdown Current decline from peak	-0.51%	-0.19%	-0.32%
Average Drawdown Average peak-to-trough decline	-13.13%	-1.14%	-11.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.42%	0.58%	+0.84%

Volatility

JELBX vs. SCLAX - Volatility Comparison

John Hancock Variable Insurance Trust Managed Volatility Balanced Portfolio (JELBX) has a higher volatility of 2.61% compared to SEI Institutional Managed Trust Multi-Asset Capital Stability Fund (SCLAX) at 0.97%. This indicates that JELBX's price experiences larger fluctuations and is considered to be riskier than SCLAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JELBX	SCLAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.61%	0.97%	+1.64%
Volatility (6M) Calculated over the trailing 6-month period	6.48%	2.07%	+4.41%
Volatility (1Y) Calculated over the trailing 1-year period	8.22%	2.64%	+5.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.57%	3.08%	+5.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.55%	2.76%	+5.79%

JELBX vs. SCLAX - Expense Ratio Comparison

JELBX has a 0.17% expense ratio, which is lower than SCLAX's 0.62% expense ratio.

Dividends

JELBX vs. SCLAX - Dividend Comparison

JELBX's dividend yield for the trailing twelve months is around 6.37%, more than SCLAX's 1.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JELBX John Hancock Variable Insurance Trust Managed Volatility Balanced Portfolio	6.37%	6.78%	2.98%	10.88%	6.00%	2.55%	7.95%	6.43%	10.30%	0.00%	0.00%	0.00%
SCLAX SEI Institutional Managed Trust Multi-Asset Capital Stability Fund	1.83%	1.88%	7.87%	4.06%	1.90%	2.79%	1.01%	4.67%	0.54%	3.77%	0.69%	1.18%

Frequently Asked Questions

Can I hold both JELBX and SCLAX in my portfolio?

JELBX and SCLAX have a correlation of 0.77, 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 SCLAX?

JELBX has higher volatility (2.61%) compared to SCLAX (0.97%). In terms of maximum drawdown, JELBX dropped -50.73% vs SCLAX's -5.59%.

Which has better risk-adjusted returns?

SCLAX currently has the higher Sharpe Ratio (2.63 vs 2.33), 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.