JHCB vs. SPBO
JHCB (John Hancock Corporate Bond ETF) and SPBO (SPDR Portfolio Corporate Bond ETF) are both Corporate Bonds funds. JHCB is actively managed, while SPBO is passively managed. Over the past 5 years, JHCB returned -0.15%/yr vs -0.13%/yr for SPBO. Their correlation of 0.94 means they have usually moved in the same direction. JHCB charges 0.29%/yr vs 0.03%/yr for SPBO.
Performance
JHCB vs. SPBO - Performance Comparison
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Returns By Period
In the year-to-date period, JHCB achieves a -1.01% return, which is significantly lower than SPBO's -0.59% return.
JHCB
- 1D
- -0.29%
- 1M
- -1.98%
- 6M
- -1.36%
- YTD
- -1.01%
- 1Y
- 1.55%
- 3Y*
- 5.05%
- 5Y*
- -0.15%
- 10Y*
- —
- ALL TIME*
- 0.72%
SPBO
- 1D
- -0.21%
- 1M
- -1.66%
- 6M
- -0.96%
- YTD
- -0.59%
- 1Y
- 1.97%
- 3Y*
- 5.03%
- 5Y*
- -0.13%
- 10Y*
- 2.42%
- ALL TIME*
- 3.28%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $496.05K | $369.71K | $346.04K | |
| $11.42M | $13.99M | $18.95M |
JHCB vs. SPBO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
JHCB John Hancock Corporate Bond ETF | -1.01% | 8.02% | 2.75% | 8.89% | -15.93% | 3.29% |
SPBO SPDR Portfolio Corporate Bond ETF | -0.59% | 7.83% | 2.59% | 8.80% | -15.68% | 3.33% |
Correlation
The correlation between JHCB and SPBO is 0.96 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.96 |
Correlation (3Y) Balances recent behavior with more history. | 0.95 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.94 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2021 | 0.94 |
The correlation between JHCB and SPBO has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.
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Return for Risk
JHCB vs. SPBO — Risk / Return Rank
JHCB
SPBO
JHCB vs. SPBO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for John Hancock Corporate Bond ETF (JHCB) and SPDR Portfolio Corporate Bond ETF (SPBO). 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 | SPBO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.11 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.64 | 0.97 | -0.32 |
| Martin ratioReturn relative to average drawdown | 1.87 | 2.71 | -0.84 |
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Drawdowns
JHCB vs. SPBO - Drawdown Comparison
The maximum JHCB drawdown since its inception was -22.61%, roughly equal to the maximum SPBO drawdown of -22.23%. Use the drawdown chart below to compare losses from any high point for JHCB and SPBO.
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Drawdown Indicators
| JHCB | SPBO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.61% | -22.23% | -0.38% |
Max Drawdown (1Y)Largest decline over 1 year | -3.16% | -2.87% | -0.29% |
Max Drawdown (3Y)Largest decline over 3 years | -5.47% | -5.25% | -0.22% |
Max Drawdown (5Y)Largest decline over 5 years | -22.57% | -22.23% | -0.34% |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.23% | — |
Current DrawdownCurrent decline from peak | -2.40% | -2.17% | -0.23% |
Average DrawdownAverage peak-to-trough decline | -7.99% | -4.01% | -3.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | 1.02% | +0.06% |
Volatility
JHCB vs. SPBO - Volatility Comparison
The current volatility for John Hancock Corporate Bond ETF (JHCB) is 1.09%, while SPDR Portfolio Corporate Bond ETF (SPBO) has a volatility of 1.22%. This indicates that JHCB experiences smaller price fluctuations and is considered to be less risky than SPBO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JHCB | SPBO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 1.22% | -0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 3.46% | 3.43% | +0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.30% | 4.34% | -0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.94% | 7.18% | -0.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.81% | 7.49% | -0.68% |
JHCB vs. SPBO - Expense Ratio Comparison
JHCB has a 0.29% expense ratio, which is higher than SPBO's 0.03% expense ratio.
Dividends
JHCB vs. SPBO - Dividend Comparison
JHCB's dividend yield for the trailing twelve months is around 5.13%, less than SPBO's 5.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JHCB John Hancock Corporate Bond ETF | 5.13% | 4.92% | 5.02% | 4.35% | 3.86% | 2.41% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPBO SPDR Portfolio Corporate Bond ETF | 4.76% | 5.09% | 5.28% | 4.73% | 3.54% | 2.42% | 2.75% | 3.46% | 3.60% | 3.15% | 3.35% | 3.07% |
Frequently Asked Questions
With a correlation of 0.96, JHCB and SPBO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
SPBO has higher volatility (1.22%) compared to JHCB (1.09%). In terms of maximum drawdown, JHCB dropped -22.61% vs SPBO's -22.23%.
On 5-year performance, SPBO leads with -0.13% vs -0.15% for JHCB. On fees, SPBO is cheaper at 0.03% per year. On volatility, JHCB has been the lower-risk option at 1.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SPBO has performed better with a -0.13% return vs -0.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPBO is cheaper with a 0.03% expense ratio, compared with 0.29% for JHCB.
JHCB has the higher dividend yield at 5.13%, compared with 4.76% for SPBO.
They also come from different issuers: John Hancock and State Street. Their fees differ too: 0.29% for JHCB and 0.03% for SPBO.
SPBO currently has the higher Sharpe Ratio (0.64 vs 0.47), 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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