JHAC vs. MTUM

Last updated Jul 14, 2026

JHAC (John Hancock Fundamental All Cap Core ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - JHAC is a Large Cap Blend Equities fund actively managed by John Hancock, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. JHAC is actively managed, while MTUM is passively managed. Over the past year, JHAC returned 2.94% vs 34.12% for MTUM. A 0.69 correlation means they provide meaningful diversification when combined. JHAC charges 0.72%/yr vs 0.15%/yr for MTUM.

Performance

JHAC vs. MTUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Fundamental All Cap Core ETF (JHAC) and iShares MSCI USA Momentum Factor ETF (MTUM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JHAC achieves a 0.64% return, which is significantly lower than MTUM's 25.95% return.

JHAC

• 1D: -0.01%
• 1M: 2.75%
• 6M: -2.53%
• YTD: 0.64%
• 1Y: 2.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MTUM

• 1D: -2.22%
• 1M: -2.90%
• 6M: 21.75%
• YTD: 25.95%
• 1Y: 34.12%
• 3Y*: 30.38%
• 5Y*: 14.17%
• 10Y*: 16.34%

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

JHAC vs. MTUM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JHAC John Hancock Fundamental All Cap Core ETF	0.64%	3.33%	23.65%	15.81%
MTUM iShares MSCI USA Momentum Factor ETF	25.95%	22.15%	32.89%	12.68%

Correlation

The correlation between JHAC and MTUM is 0.53, 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	0.53
Correlation (All Time) Calculated using the full available price history since Nov 2, 2023	0.69

The correlation between JHAC and MTUM shifts across timeframes, from 0.53 (1 year) to 0.69 (all time), reflecting how their relationship changes across market environments.

JHAC vs. MTUM - Sectors Allocation Comparison

Sectors	JHAC	MTUM
Technology	27.5%	50.2%
Consumer Cyclical	23.9%	2.9%
Financial Services	15.9%	5.0%
Communication Services	8.9%	5.1%
Industrials	6.5%	15.0%
Healthcare	6.3%	3.5%
Energy	4.9%	10.5%
Real Estate	3.5%	1.3%
Consumer Defensive	1.5%	3.7%
Basic Materials	1.1%	2.3%
Utilities	-	0.6%

Return for Risk

JHAC vs. MTUM — Risk / Return Rank

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

JHAC

JHAC Risk / Return Rank: 12
JHAC Sharpe Ratio Rank: 13
JHAC Sortino Ratio Rank: 12
JHAC Omega Ratio Rank: 12
JHAC Calmar Ratio Rank: 12
JHAC Martin Ratio Rank: 12

MTUM

MTUM Risk / Return Rank: 60
MTUM Sharpe Ratio Rank: 53
MTUM Sortino Ratio Rank: 49
MTUM Omega Ratio Rank: 54
MTUM Calmar Ratio Rank: 73
MTUM Martin Ratio Rank: 70

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. MTUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Fundamental All Cap Core ETF (JHAC) and iShares MSCI USA Momentum Factor ETF (MTUM). 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	MTUM	Difference
Sharpe ratio: Return per unit of total volatility	0.22	1.44	-1.22
Sortino ratio: Return per unit of downside risk	0.39	1.95	-1.56
Omega ratio: Gain probability vs. loss probability	1.05	1.27	-0.22
Calmar ratio: Return relative to maximum drawdown	0.19	2.97	-2.78
Martin ratio: Return relative to average drawdown	0.57	10.23	-9.67

JHAC vs. MTUM - Sharpe Ratio Comparison

The current JHAC Sharpe Ratio is 0.22, which is lower than the MTUM Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of JHAC and MTUM, 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. MTUM - Drawdown Comparison

The maximum JHAC drawdown since its inception was -24.43%, smaller than the maximum MTUM drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for JHAC and MTUM.

Drawdown Indicators

	JHAC	MTUM	Difference
Max Drawdown Largest peak-to-trough decline	-24.43%	-34.08%	+9.65%
Max Drawdown (1Y) Largest decline over 1 year	-15.24%	-11.54%	-3.70%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.99%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-32.28%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-34.08%	—
Current Drawdown Current decline from peak	-3.11%	-8.86%	+5.75%
Average Drawdown Average peak-to-trough decline	-3.96%	-6.19%	+2.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.18%	3.34%	+1.84%

Volatility

JHAC vs. MTUM - Volatility Comparison

The current volatility for John Hancock Fundamental All Cap Core ETF (JHAC) is 3.54%, while iShares MSCI USA Momentum Factor ETF (MTUM) has a volatility of 13.18%. This indicates that JHAC experiences smaller price fluctuations and is considered to be less risky than MTUM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JHAC	MTUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.54%	13.18%	-9.64%
Volatility (6M) Calculated over the trailing 6-month period	9.90%	21.54%	-11.64%
Volatility (1Y) Calculated over the trailing 1-year period	13.41%	23.81%	-10.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.28%	21.54%	-4.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.28%	21.52%	-4.24%

JHAC vs. MTUM - Expense Ratio Comparison

JHAC has a 0.72% expense ratio, which is higher than MTUM's 0.15% expense ratio.

Dividends

JHAC vs. MTUM - Dividend Comparison

JHAC's dividend yield for the trailing twelve months is around 0.57%, less than MTUM's 0.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JHAC John Hancock Fundamental All Cap Core ETF	0.57%	0.58%	0.66%	0.17%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MTUM iShares MSCI USA Momentum Factor ETF	0.59%	0.91%	0.75%	1.35%	1.80%	0.55%	0.83%	1.48%	1.27%	1.02%	1.43%	1.12%

Frequently Asked Questions

Can I hold both JHAC and MTUM in my portfolio?

JHAC and MTUM have a correlation of 0.53, 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 MTUM?

MTUM has higher volatility (13.18%) compared to JHAC (3.54%). In terms of maximum drawdown, JHAC dropped -24.43% vs MTUM's -34.08%.

Which ETF is better, JHAC or MTUM?

On 1-year performance, MTUM leads with 34.12% vs 2.94% for JHAC. On fees, MTUM is cheaper at 0.15% per year. On volatility, JHAC has been the lower-risk option at 3.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JHAC or MTUM?

Over the 1-year period, MTUM has performed better with a 34.12% return vs 2.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JHAC or MTUM?

MTUM is cheaper with a 0.15% expense ratio, compared with 0.72% for JHAC.

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

MTUM has the higher dividend yield at 0.59%, compared with 0.57% for JHAC.

What is the main difference between JHAC and MTUM?

JHAC is categorized as Large Cap Blend Equities, while MTUM is Momentum. They also come from different issuers: John Hancock and iShares. Their fees differ too: 0.72% for JHAC and 0.15% for MTUM.

Which has better risk-adjusted returns?

MTUM currently has the higher Sharpe Ratio (1.44 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.