JHCB vs. JHMB

Last updated Jun 23, 2026

JHCB (John Hancock Corporate Bond ETF) and JHMB (John Hancock Mortgage Backed Securities ETF) are both exchange-traded funds - JHCB is a Corporate Bonds 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 3 years, JHCB returned 5.63%/yr vs 5.14%/yr for JHMB. A 0.66 correlation means they provide meaningful diversification when combined. JHCB charges 0.29%/yr vs 0.39%/yr for JHMB.

Performance

JHCB vs. JHMB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Corporate Bond ETF (JHCB) 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, JHCB achieves a 0.56% return, which is significantly lower than JHMB's 0.68% return.

JHCB

• 1D: -0.26%
• 1M: 0.75%
• YTD: 0.56%
• 6M: 0.55%
• 1Y: 5.31%
• 3Y*: 5.63%
• 5Y*: 0.51%
• 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)

JHCB vs. JHMB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
JHCB John Hancock Corporate Bond ETF	0.56%	8.02%	2.75%	8.89%	-15.93%	-0.80%
JHMB John Hancock Mortgage Backed Securities ETF	0.68%	7.89%	3.52%	7.21%	-10.24%	-0.88%

Correlation

The correlation between JHCB and JHMB is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (All Time) Calculated using the full available price history since Aug 19, 2021	0.66

The correlation between JHCB and JHMB shifts across timeframes, from 0.66 (all time) to 0.83 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

JHCB vs. JHMB — Risk / Return Rank

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

JHCB

JHCB Risk / Return Rank: 35
JHCB Sharpe Ratio Rank: 35
JHCB Sortino Ratio Rank: 35
JHCB Omega Ratio Rank: 33
JHCB Calmar Ratio Rank: 35
JHCB Martin Ratio Rank: 36

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.

JHCB vs. JHMB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Corporate Bond ETF (JHCB) 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.

	JHCB	JHMB	Difference
Sharpe ratio: Return per unit of total volatility	1.22	1.52	-0.30
Sortino ratio: Return per unit of downside risk	1.78	2.32	-0.54
Omega ratio: Gain probability vs. loss probability	1.22	1.27	-0.05
Calmar ratio: Return relative to maximum drawdown	1.69	1.92	-0.24
Martin ratio: Return relative to average drawdown	5.43	5.24	+0.19

JHCB vs. JHMB - Sharpe Ratio Comparison

The current JHCB Sharpe Ratio is 1.22, which is comparable to the JHMB Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of JHCB 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

JHCB vs. JHMB - Drawdown Comparison

The maximum JHCB drawdown since its inception was -22.61%, which is greater than JHMB's maximum drawdown of -14.53%. Use the drawdown chart below to compare losses from any high point for JHCB and JHMB.

Drawdown Indicators

	JHCB	JHMB	Difference
Max Drawdown Largest peak-to-trough decline	-22.61%	-14.53%	-8.08%
Max Drawdown (1Y) Largest decline over 1 year	-3.16%	-3.01%	-0.15%
Max Drawdown (3Y) Largest decline over 3 years	-6.54%	-5.80%	-0.74%
Max Drawdown (5Y) Largest decline over 5 years	-22.61%	—	—
Current Drawdown Current decline from peak	-0.85%	-1.53%	+0.68%
Average Drawdown Average peak-to-trough decline	-8.13%	-4.79%	-3.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.98%	1.10%	-0.12%

Volatility

JHCB vs. JHMB - Volatility Comparison

John Hancock Corporate Bond ETF (JHCB) and John Hancock Mortgage Backed Securities ETF (JHMB) have volatilities of 1.11% and 1.14%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JHCB	JHMB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.11%	1.14%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	3.32%	2.82%	+0.50%
Volatility (1Y) Calculated over the trailing 1-year period	4.36%	3.82%	+0.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.94%	5.79%	+1.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.86%	5.79%	+1.07%

JHCB vs. JHMB - Expense Ratio Comparison

JHCB has a 0.29% expense ratio, which is lower than JHMB's 0.39% expense ratio.

Dividends

JHCB vs. JHMB - Dividend Comparison

JHCB's dividend yield for the trailing twelve months is around 4.95%, more than JHMB's 4.72% yield.

Position	TTM	2025	2024	2023	2022	2021
JHCB John Hancock Corporate Bond ETF	4.95%	4.92%	5.02%	4.35%	3.86%	2.41%
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 JHCB and JHMB in my portfolio?

JHCB and JHMB have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JHCB or JHMB?

JHMB has higher volatility (1.14%) compared to JHCB (1.11%). In terms of maximum drawdown, JHCB dropped -22.61% vs JHMB's -14.53%.

Which ETF is better, JHCB or JHMB?

On 3-year performance, JHCB leads with 5.63% vs 5.14% for JHMB. On fees, JHCB is cheaper at 0.29% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JHCB or JHMB?

Over the 3-year period, JHCB has performed better with a 5.63% return vs 5.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JHCB or JHMB?

JHCB is cheaper with a 0.29% expense ratio, compared with 0.39% for JHMB.

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

JHCB has the higher dividend yield at 4.95%, compared with 4.72% for JHMB.

What is the main difference between JHCB and JHMB?

JHCB is categorized as Corporate Bonds, while JHMB is Intermediate Core-Plus Bond. Their fees differ too: 0.29% for JHCB and 0.39% for JHMB.

Which has better risk-adjusted returns?

JHMB currently has the higher Sharpe Ratio (1.52 vs 1.22), 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.