JHMB vs. ZHOG

Last updated Aug 4, 2026

JHMB (John Hancock Mortgage Backed Securities ETF) and ZHOG (F/m Opportunistic Income ETF) are both Intermediate Core-Plus Bond funds. Both are actively managed. Over the past year, JHMB returned 3.77% vs 3.70% for ZHOG. Their 0.77 correlation means they have sometimes moved together and sometimes differently. JHMB charges 0.39%/yr vs 0.43%/yr for ZHOG.

Performance

JHMB vs. ZHOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Mortgage Backed Securities ETF (JHMB) and F/m Opportunistic Income ETF (ZHOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JHMB achieves a -0.01% return, which is significantly lower than ZHOG's 0.93% return.

JHMB

• 1D: 0.24%
• 1M: -1.02%
• 6M: -0.36%
• YTD: -0.01%
• 1Y: 3.77%
• 3Y*: 5.16%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 1.28%

ZHOG

• 1D: 0.09%
• 1M: -0.20%
• 6M: 0.58%
• YTD: 0.93%
• 1Y: 3.70%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.14%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
JHMB John Hancock Mortgage Backed Securities ETF	$656.90K	$672.97K	$838.26K
ZHOG F/m Opportunistic Income ETF	$57.69K	$54.56K	$68.96K

JHMB vs. ZHOG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JHMB John Hancock Mortgage Backed Securities ETF	-0.01%	7.89%	3.52%	5.09%
ZHOG F/m Opportunistic Income ETF	0.93%	5.98%	4.94%	5.93%

Correlation

The correlation between JHMB and ZHOG is 0.74, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.74
Correlation (All Time) Calculated using the full available price history since Sep 6, 2023	0.77

The correlation between JHMB and ZHOG has been stable across timeframes, ranging from 0.74 to 0.77 - a consistent structural relationship.

Return for Risk

JHMB vs. ZHOG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

JHMB

JHMB Risk / Return Rank: 36
JHMB Sharpe Ratio Rank: 38
JHMB Sortino Ratio Rank: 38
JHMB Omega Ratio Rank: 35
JHMB Calmar Ratio Rank: 35
JHMB Martin Ratio Rank: 32

ZHOG

ZHOG Risk / Return Rank: 85
ZHOG Sharpe Ratio Rank: 89
ZHOG Sortino Ratio Rank: 91
ZHOG Omega Ratio Rank: 90
ZHOG Calmar Ratio Rank: 75
ZHOG Martin Ratio Rank: 81

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

JHMB vs. ZHOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Mortgage Backed Securities ETF (JHMB) and F/m Opportunistic Income ETF (ZHOG). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	JHMB	ZHOG	Difference
Sharpe ratio: Return per unit of total volatility	1.01	2.32	-1.32
Sortino ratio: Return per unit of downside risk	1.51	3.39	-1.88
Omega ratio: Gain probability vs. loss probability	1.17	1.44	-0.27
Calmar ratio: Return relative to maximum drawdown	1.26	2.84	-1.59
Martin ratio: Return relative to average drawdown	3.10	11.57	-8.47

JHMB vs. ZHOG - Sharpe Ratio Comparison

The current JHMB Sharpe Ratio is 1.01, which is lower than the ZHOG Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of JHMB and ZHOG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JHMB vs. ZHOG - Drawdown Comparison

The maximum JHMB drawdown since its inception was -14.53%, which is greater than ZHOG's maximum drawdown of -3.66%. Use the drawdown chart below to compare losses from any high point for JHMB and ZHOG.

Drawdown Indicators

	JHMB	ZHOG	Difference
Max Drawdown Largest peak-to-trough decline	-14.53%	-3.66%	-10.87%
Max Drawdown (1Y) Largest decline over 1 year	-3.01%	-1.31%	-1.70%
Max Drawdown (3Y) Largest decline over 3 years	-5.42%	—	—
Current Drawdown Current decline from peak	-2.20%	-0.45%	-1.75%
Average Drawdown Average peak-to-trough decline	-4.72%	-0.67%	-4.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.22%	0.32%	+0.90%

Volatility

JHMB vs. ZHOG - Volatility Comparison

John Hancock Mortgage Backed Securities ETF (JHMB) has a higher volatility of 1.02% compared to F/m Opportunistic Income ETF (ZHOG) at 0.65%. This indicates that JHMB's price experiences larger fluctuations and is considered to be riskier than ZHOG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JHMB	ZHOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.02%	0.65%	+0.37%
Volatility (6M) Calculated over the trailing 6-month period	2.88%	1.29%	+1.59%
Volatility (1Y) Calculated over the trailing 1-year period	3.76%	1.60%	+2.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.75%	3.92%	+1.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.75%	3.92%	+1.83%

JHMB vs. ZHOG - Expense Ratio Comparison

JHMB has a 0.39% expense ratio, which is lower than ZHOG's 0.43% expense ratio.

Dividends

JHMB vs. ZHOG - Dividend Comparison

JHMB's dividend yield for the trailing twelve months is around 4.85%, less than ZHOG's 5.04% yield.

Position	TTM	2025	2024	2023	2022	2021
JHMB John Hancock Mortgage Backed Securities ETF	4.85%	4.48%	4.88%	4.04%	4.17%	0.98%
ZHOG F/m Opportunistic Income ETF	5.04%	5.35%	5.50%	1.70%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JHMB and ZHOG in my portfolio?

JHMB and ZHOG have a correlation of 0.74, 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 ZHOG?

JHMB has higher volatility (1.02%) compared to ZHOG (0.65%). In terms of maximum drawdown, JHMB dropped -14.53% vs ZHOG's -3.66%.

Which ETF is better, JHMB or ZHOG?

On 1-year performance, JHMB leads with 3.77% vs 3.70% for ZHOG. On fees, JHMB is cheaper at 0.39% per year. On volatility, ZHOG has been the lower-risk option at 0.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JHMB or ZHOG?

Over the 1-year period, JHMB has performed better with a 3.77% return vs 3.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JHMB or ZHOG?

JHMB is cheaper with a 0.39% expense ratio, compared with 0.43% for ZHOG.

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

ZHOG has the higher dividend yield at 5.04%, compared with 4.85% for JHMB.

What is the main difference between JHMB and ZHOG?

They also come from different issuers: John Hancock and F/m. Their fees differ too: 0.39% for JHMB and 0.43% for ZHOG.

Which has better risk-adjusted returns?

ZHOG currently has the higher Sharpe Ratio (2.32 vs 1.01), 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.