JHMB vs. JHCB

Last updated Jun 4, 2026

JHMB (John Hancock Mortgage Backed Securities ETF) and JHCB (John Hancock Corporate Bond ETF) are both exchange-traded funds - JHMB is a Intermediate Core-Plus Bond fund actively managed by John Hancock, while JHCB is a Corporate Bonds fund actively managed by John Hancock. Both are actively managed. Over the past 3 years, JHMB returned 5.24%/yr vs 5.68%/yr for JHCB. A 0.66 correlation means they provide meaningful diversification when combined. JHMB charges 0.39%/yr vs 0.29%/yr for JHCB.

Performance

JHMB vs. JHCB - 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 Corporate Bond ETF (JHCB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with JHMB having a 0.36% return and JHCB slightly higher at 0.37%.

JHMB

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

JHCB

• 1D: -0.19%
• 1M: 0.63%
• YTD: 0.37%
• 6M: -0.08%
• 1Y: 5.68%
• 3Y*: 5.68%
• 5Y*: 0.64%
• 10Y*: —

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

JHMB vs. JHCB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
JHMB John Hancock Mortgage Backed Securities ETF	0.36%	7.89%	3.52%	7.21%	-10.24%	-0.79%
JHCB John Hancock Corporate Bond ETF	0.37%	8.02%	2.75%	8.89%	-15.93%	-0.90%

Correlation

The correlation between JHMB and JHCB is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (All Time) Calculated using the full available price history since Aug 20, 2021	0.66

The correlation between JHMB and JHCB shifts across timeframes, from 0.66 (all time) to 0.83 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

JHMB vs. JHCB — 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

JHCB

JHCB Risk / Return Rank: 37
JHCB Sharpe Ratio Rank: 37
JHCB Sortino Ratio Rank: 37
JHCB Omega Ratio Rank: 35
JHCB Calmar Ratio Rank: 37
JHCB Martin Ratio Rank: 38

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. JHCB - 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 Corporate Bond ETF (JHCB). 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	JHCB	Difference
Sharpe ratio: Return per unit of total volatility	1.75	1.30	+0.45
Sortino ratio: Return per unit of downside risk	2.69	1.89	+0.80
Omega ratio: Gain probability vs. loss probability	1.31	1.23	+0.08
Calmar ratio: Return relative to maximum drawdown	2.26	1.81	+0.45
Martin ratio: Return relative to average drawdown	6.58	5.94	+0.64
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. JHCB - Sharpe Ratio Comparison

The current JHMB Sharpe Ratio is 1.75, which is higher than the JHCB Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of JHMB and JHCB, 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	JHCB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.75	1.30	+0.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.09	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	0.15	+0.10

Drawdowns

JHMB vs. JHCB - Drawdown Comparison

The maximum JHMB drawdown since its inception was -14.53%, smaller than the maximum JHCB drawdown of -22.61%. Use the drawdown chart below to compare losses from any high point for JHMB and JHCB.

Drawdown Indicators

	JHMB	JHCB	Difference
Max Drawdown Largest peak-to-trough decline	-14.53%	-22.61%	+8.08%
Max Drawdown (1Y) Largest decline over 1 year	-3.01%	-3.16%	+0.15%
Max Drawdown (3Y) Largest decline over 3 years	-5.80%	-6.54%	+0.74%
Max Drawdown (5Y) Largest decline over 5 years	—	-22.61%	—
Current Drawdown Current decline from peak	-1.84%	-1.04%	-0.80%
Average Drawdown Average peak-to-trough decline	-4.82%	-8.21%	+3.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.03%	0.96%	+0.07%

Volatility

JHMB vs. JHCB - Volatility Comparison

The current volatility for John Hancock Mortgage Backed Securities ETF (JHMB) is 1.16%, while John Hancock Corporate Bond ETF (JHCB) has a volatility of 1.42%. This indicates that JHMB experiences smaller price fluctuations and is considered to be less risky than JHCB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JHMB	JHCB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.16%	1.42%	-0.26%
Volatility (6M) Calculated over the trailing 6-month period	2.76%	3.25%	-0.49%
Volatility (1Y) Calculated over the trailing 1-year period	3.91%	4.41%	-0.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.81%	6.95%	-1.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.81%	6.88%	-1.07%

JHMB vs. JHCB - Expense Ratio Comparison

JHMB has a 0.39% expense ratio, which is higher than JHCB's 0.29% expense ratio.

Dividends

JHMB vs. JHCB - Dividend Comparison

JHMB's dividend yield for the trailing twelve months is around 4.73%, less than JHCB's 4.96% yield.

Position	TTM	2025	2024	2023	2022	2021
JHCB John Hancock Corporate Bond ETF	4.96%	4.92%	5.02%	4.35%	3.86%	2.41%
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 JHCB in my portfolio?

JHMB and JHCB have a correlation of 0.80, 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 JHCB?

JHCB has higher volatility (1.42%) compared to JHMB (1.16%). In terms of maximum drawdown, JHMB dropped -14.53% vs JHCB's -22.61%.

Which ETF is better, JHMB or JHCB?

On 3-year performance, JHCB leads with 5.68% vs 5.24% for JHMB. On fees, JHCB is cheaper at 0.29% 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 JHCB?

Over the 3-year period, JHCB has performed better with a 5.68% return vs 5.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JHMB or JHCB?

JHCB is cheaper with a 0.29% expense ratio, compared with 0.39% for JHMB.

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

JHCB has the higher dividend yield at 4.96%, compared with 4.73% for JHMB.

What is the main difference between JHMB and JHCB?

JHMB is categorized as Intermediate Core-Plus Bond, while JHCB is Corporate Bonds. Their fees differ too: 0.39% for JHMB and 0.29% for JHCB.

Which has better risk-adjusted returns?

JHMB currently has the higher Sharpe Ratio (1.75 vs 1.30), 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.