JHCP vs. JHMB

Last updated Aug 1, 2026

JHCP (John Hancock Core Plus Bond ETF) and JHMB (John Hancock Mortgage Backed Securities ETF) are both Intermediate Core-Plus Bond funds from John Hancock. Both are actively managed. Over the past year, JHCP returned 2.62% vs 3.53% for JHMB. Their 0.76 correlation means they have sometimes moved together and sometimes differently. JHCP charges 0.36%/yr vs 0.39%/yr for JHMB.

Performance

JHCP vs. JHMB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Core Plus Bond ETF (JHCP) 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, JHCP achieves a -0.21% return, which is significantly higher than JHMB's -0.24% return.

JHCP

• 1D: 0.02%
• 1M: -1.13%
• 6M: -0.79%
• YTD: -0.21%
• 1Y: 2.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.82%

JHMB

• 1D: -0.37%
• 1M: -1.26%
• 6M: -0.69%
• YTD: -0.24%
• 1Y: 3.53%
• 3Y*: 5.17%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 1.24%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
JHCP John Hancock Core Plus Bond ETF	$5.40M	$6.59M	$2.64M
JHMB John Hancock Mortgage Backed Securities ETF	$682.94K	$785.88K	$842.54K

JHCP vs. JHMB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JHCP John Hancock Core Plus Bond ETF	-0.21%	7.59%	-1.05%
JHMB John Hancock Mortgage Backed Securities ETF	-0.24%	7.89%	-0.32%

Correlation

The correlation between JHCP and JHMB is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.75
Correlation (All Time) Calculated using the full available price history since Dec 18, 2024	0.76

The correlation between JHCP and JHMB has been stable across timeframes, ranging from 0.75 to 0.76 - a consistent structural relationship.

Return for Risk

JHCP vs. JHMB — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

JHCP

JHCP Risk / Return Rank: 32
JHCP Sharpe Ratio Rank: 33
JHCP Sortino Ratio Rank: 31
JHCP Omega Ratio Rank: 28
JHCP Calmar Ratio Rank: 35
JHCP Martin Ratio Rank: 32

JHMB

JHMB Risk / Return Rank: 40
JHMB Sharpe Ratio Rank: 43
JHMB Sortino Ratio Rank: 45
JHMB Omega Ratio Rank: 40
JHMB Calmar Ratio Rank: 39
JHMB Martin Ratio Rank: 35

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

JHCP vs. JHMB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Core Plus Bond ETF (JHCP) 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.

	JHCP	JHMB	Difference
Sharpe ratio: Return per unit of total volatility	0.81	1.09	-0.28
Sortino ratio: Return per unit of downside risk	1.19	1.65	-0.46
Omega ratio: Gain probability vs. loss probability	1.14	1.19	-0.05
Calmar ratio: Return relative to maximum drawdown	1.21	1.38	-0.17
Martin ratio: Return relative to average drawdown	2.93	3.42	-0.49

JHCP vs. JHMB - Sharpe Ratio Comparison

The current JHCP Sharpe Ratio is 0.81, which is comparable to the JHMB Sharpe Ratio of 1.09. The chart below compares the historical Sharpe Ratios of JHCP 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

JHCP vs. JHMB - Drawdown Comparison

The maximum JHCP drawdown since its inception was -3.06%, smaller than the maximum JHMB drawdown of -14.53%. Use the drawdown chart below to compare losses from any high point for JHCP and JHMB.

Drawdown Indicators

	JHCP	JHMB	Difference
Max Drawdown Largest peak-to-trough decline	-3.06%	-14.53%	+11.47%
Max Drawdown (1Y) Largest decline over 1 year	-2.82%	-3.01%	+0.19%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.42%	—
Current Drawdown Current decline from peak	-2.10%	-2.43%	+0.33%
Average Drawdown Average peak-to-trough decline	-0.93%	-4.72%	+3.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.16%	1.21%	-0.05%

Volatility

JHCP vs. JHMB - Volatility Comparison

John Hancock Core Plus Bond ETF (JHCP) and John Hancock Mortgage Backed Securities ETF (JHMB) have volatilities of 1.06% and 1.02%, 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

	JHCP	JHMB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.06%	1.02%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	3.00%	2.87%	+0.13%
Volatility (1Y) Calculated over the trailing 1-year period	4.21%	3.80%	+0.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.79%	5.75%	-0.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.79%	5.75%	-0.96%

JHCP vs. JHMB - Expense Ratio Comparison

JHCP has a 0.36% expense ratio, which is lower than JHMB's 0.39% expense ratio.

Dividends

JHCP vs. JHMB - Dividend Comparison

JHCP's dividend yield for the trailing twelve months is around 4.55%, less than JHMB's 4.86% yield.

Position	TTM	2025	2024	2023	2022	2021
JHCP John Hancock Core Plus Bond ETF	4.55%	4.79%	0.20%	0.00%	0.00%	0.00%
JHMB John Hancock Mortgage Backed Securities ETF	4.86%	4.48%	4.88%	4.04%	4.17%	0.98%

Frequently Asked Questions

Can I hold both JHCP and JHMB in my portfolio?

JHCP and JHMB have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JHCP or JHMB?

JHCP has higher volatility (1.06%) compared to JHMB (1.02%). In terms of maximum drawdown, JHCP dropped -3.06% vs JHMB's -14.53%.

Which ETF is better, JHCP or JHMB?

On 1-year performance, JHMB leads with 3.53% vs 2.62% for JHCP. On fees, JHCP is cheaper at 0.36% 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, JHCP or JHMB?

Over the 1-year period, JHMB has performed better with a 3.53% return vs 2.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JHCP or JHMB?

JHCP is cheaper with a 0.36% expense ratio, compared with 0.39% for JHMB.

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

JHMB has the higher dividend yield at 4.86%, compared with 4.55% for JHCP.

What is the main difference between JHCP and JHMB?

Their fees differ too: 0.36% for JHCP and 0.39% for JHMB.

Which has better risk-adjusted returns?

JHMB currently has the higher Sharpe Ratio (1.09 vs 0.81), 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.