JHDV vs. JHMU

Last updated Jun 3, 2026

JHDV (John Hancock U.S. High Dividend ETF) and JHMU (John Hancock Dynamic Municipal Bond ETF) are both exchange-traded funds - JHDV is a Large Cap Value Equities fund actively managed by John Hancock, while JHMU is a Municipal Bonds fund tracking the John Hancock Dimensional Utilities Index. JHDV is actively managed, while JHMU is passively managed. Over the past year, JHDV returned 36.17% vs 7.64% for JHMU. At a 0.16 correlation, their price movements are largely independent. JHDV charges 0.34%/yr vs 0.39%/yr for JHMU.

Performance

JHDV vs. JHMU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock U.S. High Dividend ETF (JHDV) 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, JHDV achieves a 20.00% return, which is significantly higher than JHMU's 1.73% return.

JHDV

• 1D: 0.79%
• 1M: 7.92%
• YTD: 20.00%
• 6M: 20.97%
• 1Y: 36.17%
• 3Y*: 22.66%
• 5Y*: —
• 10Y*: —

JHMU

• 1D: 0.16%
• 1M: 0.71%
• YTD: 1.73%
• 6M: 2.31%
• 1Y: 7.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JHDV vs. JHMU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JHDV John Hancock U.S. High Dividend ETF	20.00%	14.76%	20.25%	10.52%
JHMU John Hancock Dynamic Municipal Bond ETF	1.73%	5.03%	3.76%	7.77%

Correlation

The correlation between JHDV and JHMU is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (All Time) Calculated using the full available price history since Nov 3, 2023	0.16

Return for Risk

JHDV vs. JHMU — Risk / Return Rank

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

JHDV

JHDV Risk / Return Rank: 87
JHDV Sharpe Ratio Rank: 90
JHDV Sortino Ratio Rank: 89
JHDV Omega Ratio Rank: 87
JHDV Calmar Ratio Rank: 82
JHDV Martin Ratio Rank: 86

JHMU

JHMU Risk / Return Rank: 73
JHMU Sharpe Ratio Rank: 82
JHMU Sortino Ratio Rank: 87
JHMU Omega Ratio Rank: 89
JHMU Calmar Ratio Rank: 53
JHMU Martin Ratio Rank: 55

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.

JHDV vs. JHMU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock U.S. High Dividend ETF (JHDV) 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.

	JHDV	JHMU	Difference
Sharpe ratio Return per unit of total volatility	3.10	2.72	+0.38
Sortino ratio Return per unit of downside risk	4.18	4.03	+0.15
Omega ratio Gain probability vs. loss probability	1.55	1.58	-0.02
Calmar ratio Return relative to maximum drawdown	4.43	2.68	+1.75
Martin ratio Return relative to average drawdown	18.62	9.66	+8.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JHDV vs. JHMU - Sharpe Ratio Comparison

The current JHDV Sharpe Ratio is 3.10, which is comparable to the JHMU Sharpe Ratio of 2.72. The chart below compares the historical Sharpe Ratios of JHDV 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.

Sharpe Ratios by Period

	JHDV	JHMU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.10	2.72	+0.38
Sharpe Ratio (All Time) Calculated using the full available price history	1.39	1.75	-0.36

Drawdowns

JHDV vs. JHMU - Drawdown Comparison

The maximum JHDV drawdown since its inception was -18.97%, which is greater than JHMU's maximum drawdown of -4.48%. Use the drawdown chart below to compare losses from any high point for JHDV and JHMU.

Drawdown Indicators

	JHDV	JHMU	Difference
Max Drawdown Largest peak-to-trough decline	-18.97%	-4.48%	-14.49%
Max Drawdown (1Y) Largest decline over 1 year	-8.26%	-2.77%	-5.49%
Max Drawdown (3Y) Largest decline over 3 years	-18.97%	—	—
Current Drawdown Current decline from peak	0.00%	-0.53%	+0.53%
Average Drawdown Average peak-to-trough decline	-2.62%	-0.84%	-1.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	0.77%	+1.20%

Volatility

JHDV vs. JHMU - Volatility Comparison

John Hancock U.S. High Dividend ETF (JHDV) has a higher volatility of 3.12% compared to John Hancock Dynamic Municipal Bond ETF (JHMU) at 0.96%. This indicates that JHDV'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

	JHDV	JHMU	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.12%	0.96%	+2.16%
Volatility (6M) Calculated over the trailing 6-month period	8.89%	2.23%	+6.66%
Volatility (1Y) Calculated over the trailing 1-year period	11.71%	2.83%	+8.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.69%	4.12%	+11.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.69%	4.12%	+11.57%

JHDV vs. JHMU - Expense Ratio Comparison

JHDV has a 0.34% expense ratio, which is lower than JHMU's 0.39% expense ratio.

Dividends

JHDV vs. JHMU - Dividend Comparison

JHDV's dividend yield for the trailing twelve months is around 1.97%, less than JHMU's 3.72% yield.

Position	TTM	2025	2024	2023	2022
JHDV John Hancock U.S. High Dividend ETF	1.97%	2.40%	2.50%	2.77%	0.85%
JHMU John Hancock Dynamic Municipal Bond ETF	3.72%	4.36%	7.29%	0.63%	0.00%

Frequently Asked Questions

Can I hold both JHDV and JHMU in my portfolio?

JHDV and JHMU have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JHDV or JHMU?

JHDV has higher volatility (3.12%) compared to JHMU (0.96%). In terms of maximum drawdown, JHDV dropped -18.97% vs JHMU's -4.48%.

Which ETF is better, JHDV or JHMU?

On 1-year performance, JHDV leads with 36.17% vs 7.64% for JHMU. On fees, JHDV is cheaper at 0.34% per year. On volatility, JHMU has been the lower-risk option at 0.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JHDV or JHMU?

Over the 1-year period, JHDV has performed better with a 36.17% return vs 7.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JHDV or JHMU?

JHDV is cheaper with a 0.34% expense ratio, compared with 0.39% for JHMU.

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

JHMU has the higher dividend yield at 3.72%, compared with 1.97% for JHDV.

What is the main difference between JHDV and JHMU?

JHDV is categorized as Large Cap Value Equities, while JHMU is Municipal Bonds. Their fees differ too: 0.34% for JHDV and 0.39% for JHMU.

Which has better risk-adjusted returns?

JHDV currently has the higher Sharpe Ratio (3.10 vs 2.72), 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.