JHBSX vs. JAAAX
JHBSX (John Hancock Bond Fund Class R6) and JAAAX (John Hancock Funds Alternative Asset Allocation Fund) are both mutual funds - JHBSX is a Intermediate Core-Plus Bond fund actively managed by John Hancock, while JAAAX is a Multistrategy fund managed by John Hancock. Over the past 10 years, JHBSX returned 2.42%/yr vs 4.22%/yr for JAAAX. At a 0.11 correlation, their price movements are largely independent. JHBSX charges 0.35%/yr vs 0.72%/yr for JAAAX.
Performance
JHBSX vs. JAAAX - Performance Comparison
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Returns By Period
In the year-to-date period, JHBSX achieves a 0.57% return, which is significantly lower than JAAAX's 5.59% return. Over the past 10 years, JHBSX has underperformed JAAAX with an annualized return of 2.42%, while JAAAX has yielded a comparatively higher 4.22% annualized return.
JHBSX
- 1D
- 0.22%
- 1M
- 0.98%
- YTD
- 0.57%
- 6M
- 1.11%
- 1Y
- 5.57%
- 3Y*
- 4.33%
- 5Y*
- -0.09%
- 10Y*
- 2.42%
JAAAX
- 1D
- 0.06%
- 1M
- -0.45%
- YTD
- 5.59%
- 6M
- 5.55%
- 1Y
- 10.38%
- 3Y*
- 6.96%
- 5Y*
- 4.41%
- 10Y*
- 4.22%
JHBSX vs. JAAAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JHBSX John Hancock Bond Fund Class R6 | 0.57% | 7.79% | 2.10% | 5.10% | -14.95% | -0.31% | 10.74% | 10.52% | -0.73% | 5.38% |
JAAAX John Hancock Funds Alternative Asset Allocation Fund | 5.59% | 6.18% | 6.59% | 5.85% | -3.12% | 4.77% | 4.36% | 8.95% | -4.09% | 6.10% |
Correlation
The correlation between JHBSX and JAAAX is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Aug 31, 2011 | 0.11 |
The correlation between JHBSX and JAAAX shifts across timeframes, from 0.11 (all time) to 0.30 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
JHBSX vs. JAAAX — Risk / Return Rank
JHBSX
JAAAX
JHBSX vs. JAAAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for John Hancock Bond Fund Class R6 (JHBSX) and John Hancock Funds Alternative Asset Allocation Fund (JAAAX). 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.
| JHBSX | JAAAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.62 | ||
| Sortino ratioReturn per unit of downside risk | -2.33 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.59 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | 1.73 | 5.06 | -3.34 |
| Martin ratioReturn relative to average drawdown | 5.03 | 19.35 | -14.32 |
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Drawdowns
JHBSX vs. JAAAX - Drawdown Comparison
The maximum JHBSX drawdown since its inception was -19.78%, which is greater than JAAAX's maximum drawdown of -15.72%. Use the drawdown chart below to compare losses from any high point for JHBSX and JAAAX.
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Drawdown Indicators
| JHBSX | JAAAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.78% | -15.72% | -4.06% |
Max Drawdown (1Y)Largest decline over 1 year | -3.24% | -2.02% | -1.22% |
Max Drawdown (3Y)Largest decline over 3 years | -7.35% | -5.66% | -1.69% |
Max Drawdown (5Y)Largest decline over 5 years | -19.78% | -6.28% | -13.50% |
Max Drawdown (10Y)Largest decline over 10 years | -19.78% | -12.64% | -7.14% |
Current DrawdownCurrent decline from peak | -2.07% | -0.73% | -1.34% |
Average DrawdownAverage peak-to-trough decline | -3.67% | -2.04% | -1.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.11% | 0.53% | +0.58% |
Volatility
JHBSX vs. JAAAX - Volatility Comparison
John Hancock Bond Fund Class R6 (JHBSX) has a higher volatility of 1.27% compared to John Hancock Funds Alternative Asset Allocation Fund (JAAAX) at 1.10%. This indicates that JHBSX's price experiences larger fluctuations and is considered to be riskier than JAAAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JHBSX | JAAAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.27% | 1.10% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 3.07% | 2.63% | +0.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.05% | 3.40% | +0.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.93% | 4.22% | +1.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.97% | 4.38% | +0.59% |
JHBSX vs. JAAAX - Expense Ratio Comparison
JHBSX has a 0.35% expense ratio, which is lower than JAAAX's 0.72% expense ratio.
Dividends
JHBSX vs. JAAAX - Dividend Comparison
JHBSX's dividend yield for the trailing twelve months is around 4.72%, more than JAAAX's 1.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JAAAX John Hancock Funds Alternative Asset Allocation Fund | 1.45% | 1.53% | 1.17% | 1.71% | 3.02% | 1.72% | 0.74% | 3.38% | 1.99% | 1.23% | 0.77% | 2.78% |
JHBSX John Hancock Bond Fund Class R6 | 4.72% | 4.65% | 4.20% | 2.78% | 3.31% | 3.67% | 5.89% | 4.15% | 3.93% | 3.65% | 3.62% | 3.92% |
Frequently Asked Questions
JHBSX and JAAAX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JHBSX has higher volatility (1.27%) compared to JAAAX (1.10%). In terms of maximum drawdown, JHBSX dropped -19.78% vs JAAAX's -15.72%.
JAAAX currently has the higher Sharpe Ratio (3.00 vs 1.38), 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.
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