JHAC vs. DMAY

Last updated Jun 24, 2026

JHAC (John Hancock Fundamental All Cap Core ETF) and DMAY (FT Cboe Vest U.S. Equity Deep Buffer ETF - May) are both Large Cap Blend Equities funds. JHAC is actively managed, while DMAY is passively managed. Over the past year, JHAC returned 2.96% vs 10.73% for DMAY. Their correlation of 0.82 suggests significant overlap in exposure. JHAC charges 0.72%/yr vs 0.85%/yr for DMAY.

Performance

JHAC vs. DMAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Fundamental All Cap Core ETF (JHAC) and FT Cboe Vest U.S. Equity Deep Buffer ETF - May (DMAY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JHAC achieves a -4.18% return, which is significantly lower than DMAY's 3.36% return.

JHAC

• 1D: -0.95%
• 1M: -3.16%
• YTD: -4.18%
• 6M: -6.35%
• 1Y: 2.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DMAY

• 1D: -0.56%
• 1M: -0.40%
• YTD: 3.36%
• 6M: 3.37%
• 1Y: 10.73%
• 3Y*: 11.27%
• 5Y*: 6.78%
• 10Y*: —

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

JHAC vs. DMAY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JHAC John Hancock Fundamental All Cap Core ETF	-4.18%	3.33%	23.65%	15.81%
DMAY FT Cboe Vest U.S. Equity Deep Buffer ETF - May	3.36%	11.05%	12.82%	7.09%

Correlation

The correlation between JHAC and DMAY is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (All Time) Calculated using the full available price history since Nov 2, 2023	0.82

The correlation between JHAC and DMAY has been stable across timeframes, ranging from 0.80 to 0.82 - a consistent structural relationship.

JHAC vs. DMAY - Sectors Allocation Comparison

Sectors	JHAC	DMAY
Technology	27.5%	39.0%
Consumer Cyclical	23.9%	9.9%
Financial Services	15.9%	11.1%
Communication Services	8.9%	10.6%
Industrials	6.5%	7.8%
Healthcare	6.3%	8.3%
Energy	4.9%	3.1%
Real Estate	3.5%	1.8%
Consumer Defensive	1.5%	4.5%
Basic Materials	1.1%	1.7%
Utilities	-	2.1%

Return for Risk

JHAC vs. DMAY — Risk / Return Rank

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

JHAC

JHAC Risk / Return Rank: 11
JHAC Sharpe Ratio Rank: 12
JHAC Sortino Ratio Rank: 10
JHAC Omega Ratio Rank: 11
JHAC Calmar Ratio Rank: 11
JHAC Martin Ratio Rank: 11

DMAY

DMAY Risk / Return Rank: 78
DMAY Sharpe Ratio Rank: 73
DMAY Sortino Ratio Rank: 77
DMAY Omega Ratio Rank: 85
DMAY Calmar Ratio Rank: 69
DMAY Martin Ratio Rank: 88

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.

JHAC vs. DMAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Fundamental All Cap Core ETF (JHAC) and FT Cboe Vest U.S. Equity Deep Buffer ETF - May (DMAY). 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.

	JHAC	DMAY	Difference
Sharpe ratio: Return per unit of total volatility	0.22	2.14	-1.92
Sortino ratio: Return per unit of downside risk	0.39	3.13	-2.74
Omega ratio: Gain probability vs. loss probability	1.05	1.47	-0.42
Calmar ratio: Return relative to maximum drawdown	0.20	3.23	-3.04
Martin ratio: Return relative to average drawdown	0.59	18.05	-17.46

JHAC vs. DMAY - Sharpe Ratio Comparison

The current JHAC Sharpe Ratio is 0.22, which is lower than the DMAY Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of JHAC and DMAY, 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

JHAC vs. DMAY - Drawdown Comparison

The maximum JHAC drawdown since its inception was -24.43%, which is greater than DMAY's maximum drawdown of -13.90%. Use the drawdown chart below to compare losses from any high point for JHAC and DMAY.

Drawdown Indicators

	JHAC	DMAY	Difference
Max Drawdown Largest peak-to-trough decline	-24.43%	-13.90%	-10.53%
Max Drawdown (1Y) Largest decline over 1 year	-15.24%	-3.36%	-11.88%
Max Drawdown (3Y) Largest decline over 3 years	—	-12.38%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-13.90%	—
Current Drawdown Current decline from peak	-7.74%	-1.31%	-6.43%
Average Drawdown Average peak-to-trough decline	-3.94%	-2.23%	-1.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.03%	0.60%	+4.43%

Volatility

JHAC vs. DMAY - Volatility Comparison

John Hancock Fundamental All Cap Core ETF (JHAC) has a higher volatility of 4.04% compared to FT Cboe Vest U.S. Equity Deep Buffer ETF - May (DMAY) at 2.26%. This indicates that JHAC's price experiences larger fluctuations and is considered to be riskier than DMAY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JHAC	DMAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.04%	2.26%	+1.78%
Volatility (6M) Calculated over the trailing 6-month period	10.11%	4.30%	+5.81%
Volatility (1Y) Calculated over the trailing 1-year period	13.49%	5.09%	+8.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.41%	9.07%	+8.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.41%	8.43%	+8.98%

JHAC vs. DMAY - Expense Ratio Comparison

JHAC has a 0.72% expense ratio, which is lower than DMAY's 0.85% expense ratio.

Dividends

JHAC vs. DMAY - Dividend Comparison

JHAC's dividend yield for the trailing twelve months is around 0.60%, while DMAY has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
DMAY FT Cboe Vest U.S. Equity Deep Buffer ETF - May	0.00%	0.00%	0.00%	0.00%
JHAC John Hancock Fundamental All Cap Core ETF	0.60%	0.58%	0.66%	0.17%

Frequently Asked Questions

Can I hold both JHAC and DMAY in my portfolio?

JHAC and DMAY have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JHAC or DMAY?

JHAC has higher volatility (4.04%) compared to DMAY (2.26%). In terms of maximum drawdown, JHAC dropped -24.43% vs DMAY's -13.90%.

Which ETF is better, JHAC or DMAY?

On 1-year performance, DMAY leads with 10.73% vs 2.96% for JHAC. On fees, JHAC is cheaper at 0.72% per year. On volatility, DMAY has been the lower-risk option at 2.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JHAC or DMAY?

Over the 1-year period, DMAY has performed better with a 10.73% return vs 2.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JHAC or DMAY?

JHAC is cheaper with a 0.72% expense ratio, compared with 0.85% for DMAY.

Which ETF pays a higher dividend yield, JHAC or DMAY?

JHAC has the higher dividend yield at 0.60%, compared with 0.00% for DMAY.

What is the main difference between JHAC and DMAY?

They also come from different issuers: John Hancock and First Trust. Their fees differ too: 0.72% for JHAC and 0.85% for DMAY.

Which has better risk-adjusted returns?

DMAY currently has the higher Sharpe Ratio (2.14 vs 0.22), 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.