JHBSX vs. MCFIX

Last updated Jun 23, 2026

JHBSX (John Hancock Bond Fund Class R6) and MCFIX (Mercer Core Fixed Income Fund) are both Intermediate Core-Plus Bond funds. Over the past 5 years, JHBSX returned -0.09%/yr vs -0.21%/yr for MCFIX. Their correlation of 0.89 suggests significant overlap in exposure. JHBSX charges 0.35%/yr vs 0.16%/yr for MCFIX.

Performance

JHBSX vs. MCFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Bond Fund Class R6 (JHBSX) and Mercer Core Fixed Income Fund (MCFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JHBSX achieves a 0.57% return, which is significantly higher than MCFIX's -0.99% 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%

MCFIX

• 1D: 0.23%
• 1M: 0.57%
• YTD: -0.99%
• 6M: -0.51%
• 1Y: 2.54%
• 3Y*: 3.77%
• 5Y*: -0.21%
• 10Y*: —

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

JHBSX vs. MCFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
JHBSX John Hancock Bond Fund Class R6	0.57%	7.79%	2.10%	5.10%	-14.95%	-0.31%	10.74%	6.33%
MCFIX Mercer Core Fixed Income Fund	-0.99%	6.64%	2.02%	6.47%	-13.69%	-1.05%	4.75%	3.31%

Correlation

The correlation between JHBSX and MCFIX is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Apr 12, 2019	0.89

The correlation between JHBSX and MCFIX has been stable across timeframes, ranging from 0.86 to 0.92 - a consistent structural relationship.

Return for Risk

JHBSX vs. MCFIX — Risk / Return Rank

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

JHBSX

JHBSX Risk / Return Rank: 25
JHBSX Sharpe Ratio Rank: 27
JHBSX Sortino Ratio Rank: 28
JHBSX Omega Ratio Rank: 25
JHBSX Calmar Ratio Rank: 25
JHBSX Martin Ratio Rank: 22

MCFIX

MCFIX Risk / Return Rank: 8
MCFIX Sharpe Ratio Rank: 9
MCFIX Sortino Ratio Rank: 9
MCFIX Omega Ratio Rank: 8
MCFIX Calmar Ratio Rank: 8
MCFIX Martin Ratio Rank: 8

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.

JHBSX vs. MCFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Bond Fund Class R6 (JHBSX) and Mercer Core Fixed Income Fund (MCFIX). 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	MCFIX	Difference
Sharpe ratio: Return per unit of total volatility	1.38	0.71	+0.68
Sortino ratio: Return per unit of downside risk	2.06	1.04	+1.01
Omega ratio: Gain probability vs. loss probability	1.25	1.12	+0.12
Calmar ratio: Return relative to maximum drawdown	1.73	0.76	+0.97
Martin ratio: Return relative to average drawdown	5.03	1.98	+3.05

JHBSX vs. MCFIX - Sharpe Ratio Comparison

The current JHBSX Sharpe Ratio is 1.38, which is higher than the MCFIX Sharpe Ratio of 0.71. The chart below compares the historical Sharpe Ratios of JHBSX and MCFIX, 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

JHBSX vs. MCFIX - Drawdown Comparison

The maximum JHBSX drawdown since its inception was -19.78%, smaller than the maximum MCFIX drawdown of -21.68%. Use the drawdown chart below to compare losses from any high point for JHBSX and MCFIX.

Drawdown Indicators

	JHBSX	MCFIX	Difference
Max Drawdown Largest peak-to-trough decline	-19.78%	-21.68%	+1.90%
Max Drawdown (1Y) Largest decline over 1 year	-3.24%	-3.75%	+0.51%
Max Drawdown (3Y) Largest decline over 3 years	-7.35%	-6.32%	-1.03%
Max Drawdown (5Y) Largest decline over 5 years	-19.78%	-18.72%	-1.06%
Max Drawdown (10Y) Largest decline over 10 years	-19.78%	—	—
Current Drawdown Current decline from peak	-2.07%	-5.97%	+3.90%
Average Drawdown Average peak-to-trough decline	-3.67%	-8.52%	+4.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.11%	1.37%	-0.26%

Volatility

JHBSX vs. MCFIX - Volatility Comparison

John Hancock Bond Fund Class R6 (JHBSX) has a higher volatility of 1.27% compared to Mercer Core Fixed Income Fund (MCFIX) at 1.10%. This indicates that JHBSX's price experiences larger fluctuations and is considered to be riskier than MCFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JHBSX	MCFIX	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%	2.77%	+0.30%
Volatility (1Y) Calculated over the trailing 1-year period	4.05%	4.03%	+0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.93%	6.04%	-0.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.97%	6.10%	-1.13%

JHBSX vs. MCFIX - Expense Ratio Comparison

JHBSX has a 0.35% expense ratio, which is higher than MCFIX's 0.16% expense ratio.

Dividends

JHBSX vs. MCFIX - Dividend Comparison

JHBSX's dividend yield for the trailing twelve months is around 4.72%, more than MCFIX's 4.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
MCFIX Mercer Core Fixed Income Fund	4.31%	3.89%	4.54%	3.68%	3.31%	2.45%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JHBSX and MCFIX in my portfolio?

JHBSX and MCFIX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JHBSX or MCFIX?

JHBSX has higher volatility (1.27%) compared to MCFIX (1.10%). In terms of maximum drawdown, JHBSX dropped -19.78% vs MCFIX's -21.68%.

Which has better risk-adjusted returns?

JHBSX currently has the higher Sharpe Ratio (1.38 vs 0.71), 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.