JHAC vs. JHMB

Last updated Jun 24, 2026

JHAC (John Hancock Fundamental All Cap Core ETF) and JHMB (John Hancock Mortgage Backed Securities ETF) are both exchange-traded funds - JHAC is a Large Cap Blend Equities fund actively managed by John Hancock, while JHMB is a Intermediate Core-Plus Bond fund actively managed by John Hancock. Both are actively managed. Over the past year, JHAC returned 2.96% vs 5.76% for JHMB. At a 0.20 correlation, their price movements are largely independent. JHAC charges 0.72%/yr vs 0.39%/yr for JHMB.

Performance

JHAC vs. JHMB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Fundamental All Cap Core ETF (JHAC) and John Hancock Mortgage Backed Securities ETF (JHMB). 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 JHMB's 0.68% return.

JHAC

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

JHMB

• 1D: 0.05%
• 1M: 0.72%
• YTD: 0.68%
• 6M: 0.76%
• 1Y: 5.76%
• 3Y*: 5.14%
• 5Y*: —
• 10Y*: —

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

JHAC vs. JHMB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JHAC John Hancock Fundamental All Cap Core ETF	-4.18%	3.33%	23.65%	15.81%
JHMB John Hancock Mortgage Backed Securities ETF	0.68%	7.89%	3.52%	7.06%

Correlation

The correlation between JHAC and JHMB is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (All Time) Calculated using the full available price history since Nov 2, 2023	0.20

The correlation between JHAC and JHMB shifts across timeframes, from 0.20 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

JHAC vs. JHMB — 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

JHMB

JHMB Risk / Return Rank: 44
JHMB Sharpe Ratio Rank: 47
JHMB Sortino Ratio Rank: 51
JHMB Omega Ratio Rank: 45
JHMB Calmar Ratio Rank: 41
JHMB Martin Ratio Rank: 37

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. JHMB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Fundamental All Cap Core ETF (JHAC) and John Hancock Mortgage Backed Securities ETF (JHMB). 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	JHMB	Difference
Sharpe ratio: Return per unit of total volatility	0.22	1.52	-1.30
Sortino ratio: Return per unit of downside risk	0.39	2.32	-1.93
Omega ratio: Gain probability vs. loss probability	1.05	1.27	-0.22
Calmar ratio: Return relative to maximum drawdown	0.20	1.92	-1.73
Martin ratio: Return relative to average drawdown	0.59	5.24	-4.65

JHAC vs. JHMB - Sharpe Ratio Comparison

The current JHAC Sharpe Ratio is 0.22, which is lower than the JHMB Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of JHAC and JHMB, 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. JHMB - Drawdown Comparison

The maximum JHAC drawdown since its inception was -24.43%, which is greater than JHMB's maximum drawdown of -14.53%. Use the drawdown chart below to compare losses from any high point for JHAC and JHMB.

Drawdown Indicators

	JHAC	JHMB	Difference
Max Drawdown Largest peak-to-trough decline	-24.43%	-14.53%	-9.90%
Max Drawdown (1Y) Largest decline over 1 year	-15.24%	-3.01%	-12.23%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.80%	—
Current Drawdown Current decline from peak	-7.74%	-1.53%	-6.21%
Average Drawdown Average peak-to-trough decline	-3.94%	-4.79%	+0.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.03%	1.10%	+3.93%

Volatility

JHAC vs. JHMB - Volatility Comparison

John Hancock Fundamental All Cap Core ETF (JHAC) has a higher volatility of 4.04% compared to John Hancock Mortgage Backed Securities ETF (JHMB) at 1.14%. This indicates that JHAC's price experiences larger fluctuations and is considered to be riskier than JHMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JHAC	JHMB	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.04%	1.14%	+2.90%
Volatility (6M) Calculated over the trailing 6-month period	10.11%	2.82%	+7.29%
Volatility (1Y) Calculated over the trailing 1-year period	13.49%	3.82%	+9.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.41%	5.79%	+11.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.41%	5.79%	+11.62%

JHAC vs. JHMB - Expense Ratio Comparison

JHAC has a 0.72% expense ratio, which is higher than JHMB's 0.39% expense ratio.

Dividends

JHAC vs. JHMB - Dividend Comparison

JHAC's dividend yield for the trailing twelve months is around 0.60%, less than JHMB's 4.72% yield.

Position	TTM	2025	2024	2023	2022	2021
JHAC John Hancock Fundamental All Cap Core ETF	0.60%	0.58%	0.66%	0.17%	0.00%	0.00%
JHMB John Hancock Mortgage Backed Securities ETF	4.72%	4.48%	4.88%	4.04%	4.17%	0.98%

Frequently Asked Questions

Can I hold both JHAC and JHMB in my portfolio?

JHAC and JHMB have a correlation of 0.32, 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 JHMB?

JHAC has higher volatility (4.04%) compared to JHMB (1.14%). In terms of maximum drawdown, JHAC dropped -24.43% vs JHMB's -14.53%.

Which ETF is better, JHAC or JHMB?

On 1-year performance, JHMB leads with 5.76% vs 2.96% for JHAC. On fees, JHMB is cheaper at 0.39% per year. On volatility, JHMB has been the lower-risk option at 1.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JHAC or JHMB?

Over the 1-year period, JHMB has performed better with a 5.76% 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 JHMB?

JHMB is cheaper with a 0.39% expense ratio, compared with 0.72% for JHAC.

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

JHMB has the higher dividend yield at 4.72%, compared with 0.60% for JHAC.

What is the main difference between JHAC and JHMB?

JHAC is categorized as Large Cap Blend Equities, while JHMB is Intermediate Core-Plus Bond. Their fees differ too: 0.72% for JHAC and 0.39% for JHMB.

Which has better risk-adjusted returns?

JHMB currently has the higher Sharpe Ratio (1.52 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.