JHMD vs. FNDF

Last updated Jun 4, 2026

JHMD (John Hancock Multifactor Developed International ETF) and FNDF (Schwab Fundamental International Equity ETF) are both Foreign Large Cap Equities funds - JHMD tracks the John Hancock Dimensional Developed International Index while FNDF tracks the RAFI Fundamental High Liquidity Developed ex US Large Index (Net). Both are passively managed. Over the past 5 years, JHMD returned 8.47%/yr vs 13.35%/yr for FNDF. Their correlation of 0.94 suggests significant overlap in exposure. JHMD charges 0.39%/yr vs 0.25%/yr for FNDF.

Performance

JHMD vs. FNDF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Multifactor Developed International ETF (JHMD) and Schwab Fundamental International Equity ETF (FNDF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JHMD achieves a 7.87% return, which is significantly lower than FNDF's 21.21% return.

JHMD

• 1D: -0.51%
• 1M: 2.80%
• YTD: 7.87%
• 6M: 10.87%
• 1Y: 21.60%
• 3Y*: 16.74%
• 5Y*: 8.47%
• 10Y*: —

FNDF

• 1D: -0.67%
• 1M: 6.97%
• YTD: 21.21%
• 6M: 24.72%
• 1Y: 44.71%
• 3Y*: 24.10%
• 5Y*: 13.35%
• 10Y*: 11.93%

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

JHMD vs. FNDF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JHMD John Hancock Multifactor Developed International ETF	7.87%	33.91%	1.78%	19.43%	-13.95%	11.83%	7.25%	19.83%	-14.54%	25.02%
FNDF Schwab Fundamental International Equity ETF	21.21%	40.99%	2.29%	20.22%	-7.78%	14.97%	3.61%	18.46%	-14.21%	23.98%

Correlation

The correlation between JHMD and FNDF is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Dec 19, 2016	0.94

The correlation between JHMD and FNDF has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

JHMD vs. FNDF - Sectors Allocation Comparison

Sectors	JHMD	FNDF
Financial Services	24.8%	16.7%
Industrials	19.9%	15.9%
Healthcare	8.9%	5.5%
Basic Materials	7.8%	11.3%
Consumer Cyclical	7.6%	10.7%
Consumer Defensive	7.4%	6.9%
Technology	7.0%	11.1%
Utilities	5.7%	3.8%
Communication Services	5.3%	4.9%
Energy	4.0%	12.3%
Real Estate	1.6%	0.9%

Return for Risk

JHMD vs. FNDF — Risk / Return Rank

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

JHMD

JHMD Risk / Return Rank: 42
JHMD Sharpe Ratio Rank: 42
JHMD Sortino Ratio Rank: 42
JHMD Omega Ratio Rank: 42
JHMD Calmar Ratio Rank: 39
JHMD Martin Ratio Rank: 44

FNDF

FNDF Risk / Return Rank: 84
FNDF Sharpe Ratio Rank: 88
FNDF Sortino Ratio Rank: 85
FNDF Omega Ratio Rank: 85
FNDF Calmar Ratio Rank: 80
FNDF Martin Ratio Rank: 80

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.

JHMD vs. FNDF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Multifactor Developed International ETF (JHMD) and Schwab Fundamental International Equity ETF (FNDF). 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.

	JHMD	FNDF	Difference
Sharpe ratio: Return per unit of total volatility	1.48	2.99	-1.51
Sortino ratio: Return per unit of downside risk	2.14	3.89	-1.74
Omega ratio: Gain probability vs. loss probability	1.27	1.53	-0.27
Calmar ratio: Return relative to maximum drawdown	1.93	4.24	-2.31
Martin ratio: Return relative to average drawdown	7.21	16.19	-8.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JHMD vs. FNDF - Sharpe Ratio Comparison

The current JHMD Sharpe Ratio is 1.48, which is lower than the FNDF Sharpe Ratio of 2.99. The chart below compares the historical Sharpe Ratios of JHMD and FNDF, 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

	JHMD	FNDF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.48	2.99	-1.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.83	-0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.68	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.54	+0.01

Drawdowns

JHMD vs. FNDF - Drawdown Comparison

The maximum JHMD drawdown since its inception was -35.67%, smaller than the maximum FNDF drawdown of -40.14%. Use the drawdown chart below to compare losses from any high point for JHMD and FNDF.

Drawdown Indicators

	JHMD	FNDF	Difference
Max Drawdown Largest peak-to-trough decline	-35.67%	-40.14%	+4.47%
Max Drawdown (1Y) Largest decline over 1 year	-11.23%	-10.60%	-0.63%
Max Drawdown (3Y) Largest decline over 3 years	-13.38%	-13.89%	+0.51%
Max Drawdown (5Y) Largest decline over 5 years	-29.38%	-25.56%	-3.82%
Max Drawdown (10Y) Largest decline over 10 years	—	-40.14%	—
Current Drawdown Current decline from peak	-2.48%	-0.67%	-1.81%
Average Drawdown Average peak-to-trough decline	-6.73%	-7.64%	+0.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.00%	2.77%	+0.23%

Volatility

JHMD vs. FNDF - Volatility Comparison

The current volatility for John Hancock Multifactor Developed International ETF (JHMD) is 4.89%, while Schwab Fundamental International Equity ETF (FNDF) has a volatility of 5.26%. This indicates that JHMD experiences smaller price fluctuations and is considered to be less risky than FNDF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JHMD	FNDF	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.89%	5.26%	-0.37%
Volatility (6M) Calculated over the trailing 6-month period	12.05%	12.53%	-0.48%
Volatility (1Y) Calculated over the trailing 1-year period	14.66%	15.06%	-0.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.26%	16.18%	+0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.20%	17.67%	-0.47%

JHMD vs. FNDF - Expense Ratio Comparison

JHMD has a 0.39% expense ratio, which is higher than FNDF's 0.25% expense ratio.

Dividends

JHMD vs. FNDF - Dividend Comparison

JHMD's dividend yield for the trailing twelve months is around 2.96%, more than FNDF's 2.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNDF Schwab Fundamental International Equity ETF	2.84%	3.44%	4.01%	3.41%	3.10%	3.54%	2.17%	3.20%	3.47%	2.32%	2.42%	2.08%
JHMD John Hancock Multifactor Developed International ETF	2.96%	3.19%	3.55%	3.01%	2.85%	3.22%	1.89%	3.19%	2.09%	2.27%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JHMD and FNDF in my portfolio?

With a correlation of 0.93, JHMD and FNDF move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, JHMD or FNDF?

FNDF has higher volatility (5.26%) compared to JHMD (4.89%). In terms of maximum drawdown, JHMD dropped -35.67% vs FNDF's -40.14%.

Which ETF is better, JHMD or FNDF?

On 5-year performance, FNDF leads with 13.35% vs 8.47% for JHMD. On fees, FNDF is cheaper at 0.25% per year. On volatility, JHMD has been the lower-risk option at 4.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JHMD or FNDF?

Over the 5-year period, FNDF has performed better with a 13.35% return vs 8.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JHMD or FNDF?

FNDF is cheaper with a 0.25% expense ratio, compared with 0.39% for JHMD.

Which ETF pays a higher dividend yield, JHMD or FNDF?

JHMD has the higher dividend yield at 2.96%, compared with 2.84% for FNDF.

What is the main difference between JHMD and FNDF?

JHMD tracks John Hancock Dimensional Developed International Index, while FNDF tracks RAFI Fundamental High Liquidity Developed ex US Large Index (Net). They also come from different issuers: Manulife and Charles Schwab. Their fees differ too: 0.39% for JHMD and 0.25% for FNDF.

Which has better risk-adjusted returns?

FNDF currently has the higher Sharpe Ratio (2.99 vs 1.48), 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.