JHMB vs. JHAC

Last updated Jun 4, 2026

JHMB (John Hancock Mortgage Backed Securities ETF) and JHAC (John Hancock Fundamental All Cap Core ETF) are both exchange-traded funds - JHMB is a Intermediate Core-Plus Bond fund actively managed by John Hancock, while JHAC is a Large Cap Blend Equities fund actively managed by John Hancock. Both are actively managed. Over the past year, JHMB returned 6.77% vs 8.86% for JHAC. At a 0.19 correlation, their price movements are largely independent. JHMB charges 0.39%/yr vs 0.72%/yr for JHAC.

Performance

JHMB vs. JHAC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Mortgage Backed Securities ETF (JHMB) and John Hancock Fundamental All Cap Core ETF (JHAC). 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 higher than JHAC's -0.25% return.

JHMB

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

JHAC

• 1D: -1.10%
• 1M: 0.13%
• YTD: -0.25%
• 6M: -2.95%
• 1Y: 8.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JHMB vs. JHAC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JHMB John Hancock Mortgage Backed Securities ETF	0.36%	7.89%	3.52%	6.79%
JHAC John Hancock Fundamental All Cap Core ETF	-0.25%	3.33%	23.65%	15.41%

Correlation

The correlation between JHMB and JHAC is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (All Time) Calculated using the full available price history since Nov 3, 2023	0.19

Return for Risk

JHMB vs. JHAC — 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

JHAC

JHAC Risk / Return Rank: 18
JHAC Sharpe Ratio Rank: 20
JHAC Sortino Ratio Rank: 19
JHAC Omega Ratio Rank: 19
JHAC Calmar Ratio Rank: 16
JHAC Martin Ratio Rank: 18

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. JHAC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Mortgage Backed Securities ETF (JHMB) and John Hancock Fundamental All Cap Core ETF (JHAC). 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	JHAC	Difference
Sharpe ratio Return per unit of total volatility	1.75	0.67	+1.08
Sortino ratio Return per unit of downside risk	2.69	1.00	+1.69
Omega ratio Gain probability vs. loss probability	1.31	1.12	+0.19
Calmar ratio Return relative to maximum drawdown	2.26	0.58	+1.68
Martin ratio Return relative to average drawdown	6.58	1.82	+4.75
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. JHAC - Sharpe Ratio Comparison

The current JHMB Sharpe Ratio is 1.75, which is higher than the JHAC Sharpe Ratio of 0.67. The chart below compares the historical Sharpe Ratios of JHMB and JHAC, 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	JHAC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.75	0.67	+1.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	0.93	-0.68

Drawdowns

JHMB vs. JHAC - Drawdown Comparison

The maximum JHMB drawdown since its inception was -14.53%, smaller than the maximum JHAC drawdown of -24.43%. Use the drawdown chart below to compare losses from any high point for JHMB and JHAC.

Drawdown Indicators

	JHMB	JHAC	Difference
Max Drawdown Largest peak-to-trough decline	-14.53%	-24.43%	+9.90%
Max Drawdown (1Y) Largest decline over 1 year	-3.01%	-15.24%	+12.23%
Max Drawdown (3Y) Largest decline over 3 years	-5.80%	—	—
Current Drawdown Current decline from peak	-1.84%	-3.96%	+2.12%
Average Drawdown Average peak-to-trough decline	-4.82%	-3.91%	-0.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.03%	4.87%	-3.84%

Volatility

JHMB vs. JHAC - Volatility Comparison

The current volatility for John Hancock Mortgage Backed Securities ETF (JHMB) is 1.16%, while John Hancock Fundamental All Cap Core ETF (JHAC) has a volatility of 3.04%. This indicates that JHMB experiences smaller price fluctuations and is considered to be less risky than JHAC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JHMB	JHAC	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.16%	3.04%	-1.88%
Volatility (6M) Calculated over the trailing 6-month period	2.76%	9.71%	-6.95%
Volatility (1Y) Calculated over the trailing 1-year period	3.91%	13.28%	-9.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.81%	17.45%	-11.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.81%	17.45%	-11.64%

JHMB vs. JHAC - Expense Ratio Comparison

JHMB has a 0.39% expense ratio, which is lower than JHAC's 0.72% expense ratio.

Dividends

JHMB vs. JHAC - Dividend Comparison

JHMB's dividend yield for the trailing twelve months is around 4.73%, more than JHAC's 0.58% yield.

Position	TTM	2025	2024	2023	2022	2021
JHAC John Hancock Fundamental All Cap Core ETF	0.58%	0.58%	0.66%	0.17%	0.00%	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 JHAC in my portfolio?

JHMB and JHAC have a correlation of 0.27, 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 JHAC?

JHAC has higher volatility (3.04%) compared to JHMB (1.16%). In terms of maximum drawdown, JHMB dropped -14.53% vs JHAC's -24.43%.

Which ETF is better, JHMB or JHAC?

On 1-year performance, JHAC leads with 8.86% vs 6.77% for JHMB. 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 JHAC?

Over the 1-year period, JHAC has performed better with a 8.86% return vs 6.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JHMB or JHAC?

JHMB is cheaper with a 0.39% expense ratio, compared with 0.72% for JHAC.

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

JHMB has the higher dividend yield at 4.73%, compared with 0.58% for JHAC.

What is the main difference between JHMB and JHAC?

JHMB is categorized as Intermediate Core-Plus Bond, while JHAC is Large Cap Blend Equities. Their fees differ too: 0.39% for JHMB and 0.72% for JHAC.

Which has better risk-adjusted returns?

JHMB currently has the higher Sharpe Ratio (1.75 vs 0.67), 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.