JHEM vs. JHMD

Last updated Jun 5, 2026

JHEM (John Hancock Multifactor Emerging Markets ETF) and JHMD (John Hancock Multifactor Developed International ETF) are both exchange-traded funds - JHEM is a Emerging Markets Equities fund tracking the John Hancock Dimensional Emerging Markets Index, while JHMD is a Foreign Large Cap Equities fund tracking the John Hancock Dimensional Developed International Index. Both are passively managed. Over the past 5 years, JHEM returned 7.90%/yr vs 8.59%/yr for JHMD. A 0.75 correlation means they provide meaningful diversification when combined. JHEM charges 0.49%/yr vs 0.39%/yr for JHMD.

Performance

JHEM vs. JHMD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Multifactor Emerging Markets ETF (JHEM) and John Hancock Multifactor Developed International ETF (JHMD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JHEM achieves a 25.02% return, which is significantly higher than JHMD's 8.50% return.

JHEM

• 1D: -0.70%
• 1M: 6.18%
• YTD: 25.02%
• 6M: 28.35%
• 1Y: 49.16%
• 3Y*: 22.10%
• 5Y*: 7.90%
• 10Y*: —

JHMD

• 1D: 0.58%
• 1M: 1.88%
• YTD: 8.50%
• 6M: 11.35%
• 1Y: 22.05%
• 3Y*: 17.09%
• 5Y*: 8.59%
• 10Y*: —

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

JHEM vs. JHMD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
JHEM John Hancock Multifactor Emerging Markets ETF	25.02%	30.49%	4.58%	12.94%	-17.90%	2.10%	11.50%	17.68%	-7.41%
JHMD John Hancock Multifactor Developed International ETF	8.50%	33.91%	1.78%	19.43%	-13.95%	11.83%	7.25%	19.83%	-12.91%

Correlation

The correlation between JHEM and JHMD is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since Oct 1, 2018	0.75

The correlation between JHEM and JHMD has been stable across timeframes, ranging from 0.72 to 0.75 - a consistent structural relationship.

JHEM vs. JHMD - Sectors Allocation Comparison

Sectors	JHEM	JHMD
Technology	26.5%	7.0%
Financial Services	21.9%	24.8%
Consumer Cyclical	11.7%	7.6%
Basic Materials	8.6%	7.8%
Industrials	8.4%	19.9%
Communication Services	7.5%	5.3%
Energy	5.3%	4.0%
Consumer Defensive	3.5%	7.4%
Healthcare	3.0%	8.9%
Utilities	2.9%	5.7%
Real Estate	0.6%	1.6%

Return for Risk

JHEM vs. JHMD — Risk / Return Rank

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

JHEM

JHEM Risk / Return Rank: 81
JHEM Sharpe Ratio Rank: 83
JHEM Sortino Ratio Rank: 79
JHEM Omega Ratio Rank: 82
JHEM Calmar Ratio Rank: 79
JHEM Martin Ratio Rank: 80

JHMD

JHMD Risk / Return Rank: 43
JHMD Sharpe Ratio Rank: 43
JHMD Sortino Ratio Rank: 44
JHMD Omega Ratio Rank: 43
JHMD Calmar Ratio Rank: 40
JHMD Martin Ratio Rank: 45

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.

JHEM vs. JHMD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Multifactor Emerging Markets ETF (JHEM) and John Hancock Multifactor Developed International ETF (JHMD). 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.

	JHEM	JHMD	Difference
Sharpe ratio: Return per unit of total volatility	2.64	1.51	+1.13
Sortino ratio: Return per unit of downside risk	3.48	2.18	+1.30
Omega ratio: Gain probability vs. loss probability	1.49	1.27	+0.21
Calmar ratio: Return relative to maximum drawdown	4.00	1.97	+2.03
Martin ratio: Return relative to average drawdown	15.52	7.35	+8.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JHEM vs. JHMD - Sharpe Ratio Comparison

The current JHEM Sharpe Ratio is 2.64, which is higher than the JHMD Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of JHEM and JHMD, 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

	JHEM	JHMD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.64	1.51	+1.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	0.53	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.55	-0.10

Drawdowns

JHEM vs. JHMD - Drawdown Comparison

The maximum JHEM drawdown since its inception was -34.99%, roughly equal to the maximum JHMD drawdown of -35.67%. Use the drawdown chart below to compare losses from any high point for JHEM and JHMD.

Drawdown Indicators

	JHEM	JHMD	Difference
Max Drawdown Largest peak-to-trough decline	-34.99%	-35.67%	+0.68%
Max Drawdown (1Y) Largest decline over 1 year	-12.34%	-11.23%	-1.11%
Max Drawdown (3Y) Largest decline over 3 years	-18.16%	-13.38%	-4.78%
Max Drawdown (5Y) Largest decline over 5 years	-32.11%	-29.38%	-2.73%
Current Drawdown Current decline from peak	-1.93%	-1.92%	-0.01%
Average Drawdown Average peak-to-trough decline	-9.94%	-6.73%	-3.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.18%	3.01%	+0.17%

Volatility

JHEM vs. JHMD - Volatility Comparison

John Hancock Multifactor Emerging Markets ETF (JHEM) has a higher volatility of 7.95% compared to John Hancock Multifactor Developed International ETF (JHMD) at 4.71%. This indicates that JHEM's price experiences larger fluctuations and is considered to be riskier than JHMD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JHEM	JHMD	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.95%	4.71%	+3.24%
Volatility (6M) Calculated over the trailing 6-month period	16.27%	12.05%	+4.22%
Volatility (1Y) Calculated over the trailing 1-year period	18.71%	14.63%	+4.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.61%	16.26%	+1.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.60%	17.19%	+3.41%

JHEM vs. JHMD - Expense Ratio Comparison

JHEM has a 0.49% expense ratio, which is higher than JHMD's 0.39% expense ratio.

Dividends

JHEM vs. JHMD - Dividend Comparison

JHEM's dividend yield for the trailing twelve months is around 1.91%, less than JHMD's 2.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
JHEM John Hancock Multifactor Emerging Markets ETF	1.91%	2.39%	2.93%	2.87%	2.84%	2.71%	1.67%	2.37%	0.21%	0.00%
JHMD John Hancock Multifactor Developed International ETF	2.94%	3.19%	3.55%	3.01%	2.85%	3.22%	1.89%	3.19%	2.09%	2.27%

Frequently Asked Questions

Can I hold both JHEM and JHMD in my portfolio?

JHEM and JHMD have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JHEM or JHMD?

JHEM has higher volatility (7.95%) compared to JHMD (4.71%). In terms of maximum drawdown, JHEM dropped -34.99% vs JHMD's -35.67%.

Which ETF is better, JHEM or JHMD?

On 5-year performance, JHMD leads with 8.59% vs 7.90% for JHEM. On fees, JHMD is cheaper at 0.39% per year. On volatility, JHMD has been the lower-risk option at 4.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JHEM or JHMD?

Over the 5-year period, JHMD has performed better with a 8.59% return vs 7.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JHEM or JHMD?

JHMD is cheaper with a 0.39% expense ratio, compared with 0.49% for JHEM.

Which ETF pays a higher dividend yield, JHEM or JHMD?

JHMD has the higher dividend yield at 2.94%, compared with 1.91% for JHEM.

What is the main difference between JHEM and JHMD?

JHEM is categorized as Emerging Markets Equities, while JHMD is Foreign Large Cap Equities. JHEM tracks John Hancock Dimensional Emerging Markets Index, while JHMD tracks John Hancock Dimensional Developed International Index. Their fees differ too: 0.49% for JHEM and 0.39% for JHMD.

Which has better risk-adjusted returns?

JHEM currently has the higher Sharpe Ratio (2.64 vs 1.51), 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.