JHCR vs. JHMU

Last updated Aug 1, 2026

JHCR (John Hancock Core Bond ETF) and JHMU (John Hancock Dynamic Municipal Bond ETF) are both exchange-traded funds - JHCR is a Intermediate Core Bond fund actively managed by John Hancock, while JHMU is a Municipal Bonds fund tracking the John Hancock Dimensional Utilities Index. JHCR is actively managed, while JHMU is passively managed. Over the past year, JHCR returned 2.35% vs 5.17% for JHMU. Their 0.66 correlation means they have sometimes moved together and sometimes differently. JHCR charges 0.29%/yr vs 0.39%/yr for JHMU.

Performance

JHCR vs. JHMU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Core Bond ETF (JHCR) and John Hancock Dynamic Municipal Bond ETF (JHMU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JHCR achieves a -0.21% return, which is significantly lower than JHMU's 0.71% return.

JHCR

• 1D: -0.12%
• 1M: -1.15%
• 6M: -0.53%
• YTD: -0.21%
• 1Y: 2.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.83%

JHMU

• 1D: -0.25%
• 1M: -1.62%
• 6M: -0.43%
• YTD: 0.71%
• 1Y: 5.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.30%

*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)
JHCR John Hancock Core Bond ETF	$7.61M	$9.07M	$5.44M
JHMU John Hancock Dynamic Municipal Bond ETF	$309.57K	$193.82K	$130.22K

JHCR vs. JHMU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JHCR John Hancock Core Bond ETF	-0.21%	7.54%	-0.99%
JHMU John Hancock Dynamic Municipal Bond ETF	0.71%	5.03%	-0.69%

Correlation

The correlation between JHCR and JHMU is 0.63, 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.	0.63
Correlation (All Time) Calculated using the full available price history since Dec 18, 2024	0.66

The correlation between JHCR and JHMU has been stable across timeframes, ranging from 0.63 to 0.66 - a consistent structural relationship.

Return for Risk

JHCR vs. JHMU — Risk / Return Rank

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

JHCR

JHCR Risk / Return Rank: 31
JHCR Sharpe Ratio Rank: 31
JHCR Sortino Ratio Rank: 30
JHCR Omega Ratio Rank: 28
JHCR Calmar Ratio Rank: 33
JHCR Martin Ratio Rank: 32

JHMU

JHMU Risk / Return Rank: 75
JHMU Sharpe Ratio Rank: 84
JHMU Sortino Ratio Rank: 86
JHMU Omega Ratio Rank: 87
JHMU Calmar Ratio Rank: 59
JHMU Martin Ratio Rank: 58

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.

JHCR vs. JHMU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Core Bond ETF (JHCR) and John Hancock Dynamic Municipal Bond ETF (JHMU). 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.

	JHCR	JHMU	Difference
Sharpe ratio: Return per unit of total volatility	0.77	1.97	-1.21
Sortino ratio: Return per unit of downside risk	1.15	2.86	-1.71
Omega ratio: Gain probability vs. loss probability	1.14	1.39	-0.26
Calmar ratio: Return relative to maximum drawdown	1.13	2.09	-0.97
Martin ratio: Return relative to average drawdown	2.92	6.95	-4.03

JHCR vs. JHMU - Sharpe Ratio Comparison

The current JHCR Sharpe Ratio is 0.77, which is lower than the JHMU Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of JHCR and JHMU, 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

JHCR vs. JHMU - Drawdown Comparison

The maximum JHCR drawdown since its inception was -2.85%, smaller than the maximum JHMU drawdown of -4.48%. Use the drawdown chart below to compare losses from any high point for JHCR and JHMU.

Drawdown Indicators

	JHCR	JHMU	Difference
Max Drawdown Largest peak-to-trough decline	-2.85%	-4.48%	+1.63%
Max Drawdown (1Y) Largest decline over 1 year	-2.84%	-2.77%	-0.07%
Current Drawdown Current decline from peak	-2.14%	-1.76%	-0.38%
Average Drawdown Average peak-to-trough decline	-0.88%	-0.83%	-0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.10%	0.83%	+0.27%

Volatility

JHCR vs. JHMU - Volatility Comparison

John Hancock Core Bond ETF (JHCR) has a higher volatility of 1.18% compared to John Hancock Dynamic Municipal Bond ETF (JHMU) at 0.90%. This indicates that JHCR's price experiences larger fluctuations and is considered to be riskier than JHMU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JHCR	JHMU	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.18%	0.90%	+0.28%
Volatility (6M) Calculated over the trailing 6-month period	3.41%	2.31%	+1.10%
Volatility (1Y) Calculated over the trailing 1-year period	4.19%	2.94%	+1.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.70%	4.06%	+0.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.70%	4.06%	+0.64%

JHCR vs. JHMU - Expense Ratio Comparison

JHCR has a 0.29% expense ratio, which is lower than JHMU's 0.39% expense ratio.

Dividends

JHCR vs. JHMU - Dividend Comparison

JHCR's dividend yield for the trailing twelve months is around 4.27%, more than JHMU's 3.86% yield.

Position	TTM	2025	2024	2023
JHCR John Hancock Core Bond ETF	4.27%	4.65%	0.20%	0.00%
JHMU John Hancock Dynamic Municipal Bond ETF	3.86%	4.36%	7.29%	0.63%

Frequently Asked Questions

Can I hold both JHCR and JHMU in my portfolio?

JHCR and JHMU have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JHCR or JHMU?

JHCR has higher volatility (1.18%) compared to JHMU (0.90%). In terms of maximum drawdown, JHCR dropped -2.85% vs JHMU's -4.48%.

Which ETF is better, JHCR or JHMU?

On 1-year performance, JHMU leads with 5.17% vs 2.35% for JHCR. On fees, JHCR is cheaper at 0.29% per year. On volatility, JHMU has been the lower-risk option at 0.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JHCR or JHMU?

Over the 1-year period, JHMU has performed better with a 5.17% return vs 2.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JHCR or JHMU?

JHCR is cheaper with a 0.29% expense ratio, compared with 0.39% for JHMU.

Which ETF pays a higher dividend yield, JHCR or JHMU?

JHCR has the higher dividend yield at 4.27%, compared with 3.86% for JHMU.

What is the main difference between JHCR and JHMU?

JHCR is categorized as Intermediate Core Bond, while JHMU is Municipal Bonds. Their fees differ too: 0.29% for JHCR and 0.39% for JHMU.

Which has better risk-adjusted returns?

JHMU currently has the higher Sharpe Ratio (1.97 vs 0.77), 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.