JHMB vs. BNDI

Last updated Jun 4, 2026

JHMB (John Hancock Mortgage Backed Securities ETF) and BNDI (Neos Enhanced Income Aggregate Bond ETF) are both Intermediate Core-Plus Bond funds. Both are actively managed. Over the past 3 years, JHMB returned 5.24%/yr vs 4.83%/yr for BNDI. A 0.77 correlation means they provide meaningful diversification when combined. JHMB charges 0.39%/yr vs 0.58%/yr for BNDI.

Performance

JHMB vs. BNDI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Mortgage Backed Securities ETF (JHMB) and Neos Enhanced Income Aggregate Bond ETF (BNDI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JHMB achieves a 0.36% return, which is significantly lower than BNDI's 1.29% return.

JHMB

• 1D: -0.23%
• 1M: 0.40%
• YTD: 0.36%
• 6M: 0.46%
• 1Y: 6.77%
• 3Y*: 5.24%
• 5Y*: —
• 10Y*: —

BNDI

• 1D: -0.21%
• 1M: 0.36%
• YTD: 1.29%
• 6M: 1.22%
• 1Y: 7.00%
• 3Y*: 4.83%
• 5Y*: —
• 10Y*: —

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

JHMB vs. BNDI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
JHMB John Hancock Mortgage Backed Securities ETF	0.36%	7.89%	3.52%	7.21%	-3.22%
BNDI Neos Enhanced Income Aggregate Bond ETF	1.29%	7.95%	1.74%	6.89%	-2.60%

Correlation

The correlation between JHMB and BNDI is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (All Time) Calculated using the full available price history since Aug 31, 2022	0.77

The correlation between JHMB and BNDI has been stable across timeframes, ranging from 0.77 to 0.87 - a consistent structural relationship.

Return for Risk

JHMB vs. BNDI — Risk / Return Rank

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

JHMB

JHMB Risk / Return Rank: 49
JHMB Sharpe Ratio Rank: 51
JHMB Sortino Ratio Rank: 57
JHMB Omega Ratio Rank: 50
JHMB Calmar Ratio Rank: 46
JHMB Martin Ratio Rank: 42

BNDI

BNDI Risk / Return Rank: 50
BNDI Sharpe Ratio Rank: 48
BNDI Sortino Ratio Rank: 52
BNDI Omega Ratio Rank: 47
BNDI Calmar Ratio Rank: 51
BNDI Martin Ratio Rank: 53

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.

JHMB vs. BNDI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Mortgage Backed Securities ETF (JHMB) and Neos Enhanced Income Aggregate Bond ETF (BNDI). 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.

	JHMB	BNDI	Difference
Sharpe ratio Return per unit of total volatility	1.75	1.69	+0.06
Sortino ratio Return per unit of downside risk	2.69	2.54	+0.15
Omega ratio Gain probability vs. loss probability	1.31	1.30	+0.01
Calmar ratio Return relative to maximum drawdown	2.26	2.56	-0.30
Martin ratio Return relative to average drawdown	6.58	9.12	-2.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JHMB vs. BNDI - Sharpe Ratio Comparison

The current JHMB Sharpe Ratio is 1.75, which is comparable to the BNDI Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of JHMB and BNDI, 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

	JHMB	BNDI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.75	1.69	+0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	0.65	-0.40

Drawdowns

JHMB vs. BNDI - Drawdown Comparison

The maximum JHMB drawdown since its inception was -14.53%, which is greater than BNDI's maximum drawdown of -6.98%. Use the drawdown chart below to compare losses from any high point for JHMB and BNDI.

Drawdown Indicators

	JHMB	BNDI	Difference
Max Drawdown Largest peak-to-trough decline	-14.53%	-6.98%	-7.55%
Max Drawdown (1Y) Largest decline over 1 year	-3.01%	-2.75%	-0.26%
Max Drawdown (3Y) Largest decline over 3 years	-5.80%	-5.83%	+0.03%
Current Drawdown Current decline from peak	-1.84%	-0.84%	-1.00%
Average Drawdown Average peak-to-trough decline	-4.82%	-1.71%	-3.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.03%	0.77%	+0.26%

Volatility

JHMB vs. BNDI - Volatility Comparison

The current volatility for John Hancock Mortgage Backed Securities ETF (JHMB) is 1.16%, while Neos Enhanced Income Aggregate Bond ETF (BNDI) has a volatility of 1.38%. This indicates that JHMB experiences smaller price fluctuations and is considered to be less risky than BNDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JHMB	BNDI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.16%	1.38%	-0.22%
Volatility (6M) Calculated over the trailing 6-month period	2.76%	3.08%	-0.32%
Volatility (1Y) Calculated over the trailing 1-year period	3.91%	4.17%	-0.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.81%	6.19%	-0.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.81%	6.19%	-0.38%

JHMB vs. BNDI - Expense Ratio Comparison

JHMB has a 0.39% expense ratio, which is lower than BNDI's 0.58% expense ratio.

Dividends

JHMB vs. BNDI - Dividend Comparison

JHMB's dividend yield for the trailing twelve months is around 4.73%, less than BNDI's 5.80% yield.

Position	TTM	2025	2024	2023	2022	2021
BNDI Neos Enhanced Income Aggregate Bond ETF	5.80%	5.69%	5.54%	5.17%	1.68%	0.00%
JHMB John Hancock Mortgage Backed Securities ETF	4.73%	4.48%	4.88%	4.04%	4.17%	0.98%

Frequently Asked Questions

Can I hold both JHMB and BNDI in my portfolio?

JHMB and BNDI have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JHMB or BNDI?

BNDI has higher volatility (1.38%) compared to JHMB (1.16%). In terms of maximum drawdown, JHMB dropped -14.53% vs BNDI's -6.98%.

Which ETF is better, JHMB or BNDI?

On 3-year performance, JHMB leads with 5.24% vs 4.83% for BNDI. On fees, JHMB is cheaper at 0.39% per year. On volatility, JHMB has been the lower-risk option at 1.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JHMB or BNDI?

Over the 3-year period, JHMB has performed better with a 5.24% return vs 4.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JHMB or BNDI?

JHMB is cheaper with a 0.39% expense ratio, compared with 0.58% for BNDI.

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

BNDI has the higher dividend yield at 5.80%, compared with 4.73% for JHMB.

What is the main difference between JHMB and BNDI?

They also come from different issuers: John Hancock and Neos. Their fees differ too: 0.39% for JHMB and 0.58% for BNDI.

Which has better risk-adjusted returns?

JHMB currently has the higher Sharpe Ratio (1.75 vs 1.69), 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.