JHBSX vs. MDVAX
JHBSX (John Hancock Bond Fund Class R6) and MDVAX (MassMutual Diversified Bond Fund) are both Intermediate Core-Plus Bond funds. Over the past 10 years, JHBSX returned 2.09%/yr vs 1.99%/yr for MDVAX. Their correlation of 0.86 means they have usually moved in the same direction. JHBSX charges 0.35%/yr vs 1.07%/yr for MDVAX.
Performance
JHBSX vs. MDVAX - Performance Comparison
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Returns By Period
In the year-to-date period, JHBSX achieves a -0.54% return, which is significantly lower than MDVAX's 2.33% return. Both investments have delivered pretty close results over the past 10 years, with JHBSX having a 2.09% annualized return and MDVAX not far behind at 1.99%.
JHBSX
- 1D
- 0.08%
- 1M
- -1.33%
- 6M
- -0.91%
- YTD
- -0.54%
- 1Y
- 2.33%
- 3Y*
- 3.87%
- 5Y*
- -0.59%
- 10Y*
- 2.09%
- ALL TIME*
- 3.09%
MDVAX
- 1D
- 0.12%
- 1M
- -0.70%
- 6M
- 1.66%
- YTD
- 2.33%
- 1Y
- 5.36%
- 3Y*
- 5.74%
- 5Y*
- -0.11%
- 10Y*
- 1.99%
- ALL TIME*
- 3.12%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
JHBSX vs. MDVAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JHBSX John Hancock Bond Fund Class R6 | -0.54% | 7.79% | 2.10% | 5.10% | -14.95% | -0.31% | 10.74% | 10.52% | -0.73% | 5.38% |
MDVAX MassMutual Diversified Bond Fund | 2.33% | 8.40% | 2.47% | 5.81% | -17.01% | 1.95% | 8.08% | 10.12% | -1.55% | 4.52% |
Correlation
The correlation between JHBSX and MDVAX is 0.86, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.86 |
Correlation (3Y) Balances recent behavior with more history. | 0.92 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.89 |
Correlation (All Time) Calculated using the full available price history since Aug 31, 2011 | 0.86 |
The correlation between JHBSX and MDVAX has been stable across timeframes, ranging from 0.86 to 0.92 - a consistent structural relationship.
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Return for Risk
JHBSX vs. MDVAX — Risk / Return Rank
JHBSX
MDVAX
JHBSX vs. MDVAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for John Hancock Bond Fund Class R6 (JHBSX) and MassMutual Diversified Bond Fund (MDVAX). 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 | MDVAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.18 | ||
| Sortino ratioReturn per unit of downside risk | -2.08 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.42 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 1.10 | 2.82 | -1.72 |
| Martin ratioReturn relative to average drawdown | 2.87 | 11.79 | -8.92 |
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Drawdowns
JHBSX vs. MDVAX - Drawdown Comparison
The maximum JHBSX drawdown since its inception was -19.78%, smaller than the maximum MDVAX drawdown of -23.02%. Use the drawdown chart below to compare losses from any high point for JHBSX and MDVAX.
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Drawdown Indicators
| JHBSX | MDVAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.78% | -23.02% | +3.24% |
Max Drawdown (1Y)Largest decline over 1 year | -3.24% | -2.21% | -1.03% |
Max Drawdown (3Y)Largest decline over 3 years | -6.38% | -4.87% | -1.51% |
Max Drawdown (5Y)Largest decline over 5 years | -19.78% | -23.02% | +3.24% |
Max Drawdown (10Y)Largest decline over 10 years | -19.78% | -23.02% | +3.24% |
Current DrawdownCurrent decline from peak | -3.15% | -3.63% | +0.48% |
Average DrawdownAverage peak-to-trough decline | -3.66% | -3.47% | -0.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.24% | 0.53% | +0.71% |
Volatility
JHBSX vs. MDVAX - Volatility Comparison
John Hancock Bond Fund Class R6 (JHBSX) has a higher volatility of 0.97% compared to MassMutual Diversified Bond Fund (MDVAX) at 0.57%. This indicates that JHBSX's price experiences larger fluctuations and is considered to be riskier than MDVAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JHBSX | MDVAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.97% | 0.57% | +0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 3.15% | 2.15% | +1.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.99% | 3.02% | +0.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.93% | 6.45% | -0.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.97% | 5.26% | -0.29% |
JHBSX vs. MDVAX - Expense Ratio Comparison
JHBSX has a 0.35% expense ratio, which is lower than MDVAX's 1.07% expense ratio.
Dividends
JHBSX vs. MDVAX - Dividend Comparison
JHBSX's dividend yield for the trailing twelve months is around 4.41%, more than MDVAX's 3.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JHBSX John Hancock Bond Fund Class R6 | 4.41% | 4.65% | 4.20% | 2.78% | 3.31% | 3.67% | 5.89% | 4.15% | 3.93% | 3.65% | 3.62% | 3.92% |
MDVAX MassMutual Diversified Bond Fund | 3.80% | 3.91% | 2.45% | 4.87% | 3.76% | 4.06% | 7.20% | 2.90% | 2.86% | 2.64% | 2.11% | 0.53% |
Frequently Asked Questions
JHBSX and MDVAX 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.
JHBSX has higher volatility (0.97%) compared to MDVAX (0.57%). In terms of maximum drawdown, JHBSX dropped -19.78% vs MDVAX's -23.02%.
MDVAX currently has the higher Sharpe Ratio (2.08 vs 0.90), 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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