JHLN vs. JHMU

Last updated Jun 6, 2026

JHLN (John Hancock Global Senior Loan ETF) and JHMU (John Hancock Dynamic Municipal Bond ETF) are both exchange-traded funds - JHLN is a Bank Loan fund actively managed by John Hancock, while JHMU is a Municipal Bonds fund tracking the John Hancock Dimensional Utilities Index. JHLN is actively managed, while JHMU is passively managed. At a correlation of -0.01, they often move in opposite directions. JHLN charges 0.59%/yr vs 0.39%/yr for JHMU.

Performance

JHLN vs. JHMU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Global Senior Loan ETF (JHLN) 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, JHLN achieves a 0.64% return, which is significantly lower than JHMU's 1.68% return.

JHLN

• 1D: -0.15%
• 1M: 0.29%
• YTD: 0.64%
• 6M: 1.14%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

JHMU

• 1D: -0.15%
• 1M: 0.40%
• YTD: 1.68%
• 6M: 2.14%
• 1Y: 7.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JHLN vs. JHMU - Yearly Performance Comparison

	2026 (YTD)	2025
JHLN John Hancock Global Senior Loan ETF	0.64%	1.51%
JHMU John Hancock Dynamic Municipal Bond ETF	1.68%	4.37%

Correlation

The correlation between JHLN and JHMU is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 21, 2025	-0.01

Return for Risk

JHLN vs. JHMU — Risk / Return Rank

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

JHMU

JHMU Risk / Return Rank: 74
JHMU Sharpe Ratio Rank: 82
JHMU Sortino Ratio Rank: 87
JHMU Omega Ratio Rank: 89
JHMU Calmar Ratio Rank: 55
JHMU Martin Ratio Rank: 56

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.

JHLN vs. JHMU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Global Senior Loan ETF (JHLN) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	JHLN	JHMU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.53	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.03	1.74	-0.71

Drawdowns

JHLN vs. JHMU - Drawdown Comparison

The maximum JHLN drawdown since its inception was -1.46%, smaller than the maximum JHMU drawdown of -4.48%. Use the drawdown chart below to compare losses from any high point for JHLN and JHMU.

Drawdown Indicators

	JHLN	JHMU	Difference
Max Drawdown Largest peak-to-trough decline	-1.46%	-4.48%	+3.02%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.77%	—
Current Drawdown Current decline from peak	-0.16%	-0.58%	+0.42%
Average Drawdown Average peak-to-trough decline	-0.32%	-0.84%	+0.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.77%	—

Volatility

Volatility by Period

	JHLN	JHMU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.96%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.22%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.67%	2.82%	-0.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.67%	4.11%	-1.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.67%	4.11%	-1.44%

JHLN vs. JHMU - Expense Ratio Comparison

JHLN has a 0.59% expense ratio, which is higher than JHMU's 0.39% expense ratio.

Dividends

JHLN vs. JHMU - Dividend Comparison

JHLN's dividend yield for the trailing twelve months is around 3.86%, more than JHMU's 3.72% yield.

Position	TTM	2025	2024	2023
JHLN John Hancock Global Senior Loan ETF	3.86%	1.88%	0.00%	0.00%
JHMU John Hancock Dynamic Municipal Bond ETF	3.72%	4.36%	7.29%	0.63%

Frequently Asked Questions

Can I hold both JHLN and JHMU in my portfolio?

JHLN and JHMU have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JHLN or JHMU?

On fees, JHMU is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JHLN or JHMU?

JHMU is cheaper with a 0.39% expense ratio, compared with 0.59% for JHLN.

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

JHLN has the higher dividend yield at 3.86%, compared with 3.72% for JHMU.

What is the main difference between JHLN and JHMU?

JHLN is categorized as Bank Loan, while JHMU is Municipal Bonds. Their fees differ too: 0.59% for JHLN and 0.39% for JHMU.