JHMD vs. VEU

Last updated Jun 4, 2026

JHMD (John Hancock Multifactor Developed International ETF) and VEU (Vanguard FTSE All-World ex-US ETF) are both Foreign Large Cap Equities funds - JHMD tracks the John Hancock Dimensional Developed International Index while VEU tracks the FTSE All-World ex US Index. Both are passively managed. Over the past 5 years, JHMD returned 8.47%/yr vs 8.67%/yr for VEU. Their correlation of 0.93 suggests significant overlap in exposure. JHMD charges 0.39%/yr vs 0.04%/yr for VEU.

Performance

JHMD vs. VEU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Multifactor Developed International ETF (JHMD) and Vanguard FTSE All-World ex-US ETF (VEU). 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 VEU's 14.60% return.

JHMD

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

VEU

• 1D: -0.98%
• 1M: 5.07%
• YTD: 14.60%
• 6M: 17.34%
• 1Y: 32.37%
• 3Y*: 19.62%
• 5Y*: 8.67%
• 10Y*: 9.94%

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

JHMD vs. VEU - 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%
VEU Vanguard FTSE All-World ex-US ETF	14.60%	32.35%	5.56%	15.84%	-15.58%	8.27%	11.10%	21.83%	-14.18%	27.40%

Correlation

The correlation between JHMD and VEU is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.94
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	0.93

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

JHMD vs. VEU - Sectors Allocation Comparison

Sectors	JHMD	VEU
Financial Services	24.8%	23.3%
Industrials	19.9%	15.7%
Healthcare	8.9%	7.1%
Basic Materials	7.8%	7.1%
Consumer Cyclical	7.6%	8.2%
Consumer Defensive	7.4%	5.1%
Technology	7.0%	18.5%
Utilities	5.7%	3.2%
Communication Services	5.3%	4.6%
Energy	4.0%	5.2%
Real Estate	1.6%	2.0%

Return for Risk

JHMD vs. VEU — 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

VEU

VEU Risk / Return Rank: 60
VEU Sharpe Ratio Rank: 62
VEU Sortino Ratio Rank: 61
VEU Omega Ratio Rank: 62
VEU Calmar Ratio Rank: 56
VEU Martin Ratio Rank: 61

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. VEU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Multifactor Developed International ETF (JHMD) and Vanguard FTSE All-World ex-US ETF (VEU). 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	VEU	Difference
Sharpe ratio: Return per unit of total volatility	1.48	2.13	-0.64
Sortino ratio: Return per unit of downside risk	2.14	2.94	-0.80
Omega ratio: Gain probability vs. loss probability	1.27	1.39	-0.12
Calmar ratio: Return relative to maximum drawdown	1.93	2.85	-0.91
Martin ratio: Return relative to average drawdown	7.21	11.06	-3.85
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. VEU - Sharpe Ratio Comparison

The current JHMD Sharpe Ratio is 1.48, which is lower than the VEU Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of JHMD and VEU, 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	VEU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.48	2.13	-0.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.54	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.58	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.25	+0.29

Drawdowns

JHMD vs. VEU - Drawdown Comparison

The maximum JHMD drawdown since its inception was -35.67%, smaller than the maximum VEU drawdown of -61.52%. Use the drawdown chart below to compare losses from any high point for JHMD and VEU.

Drawdown Indicators

	JHMD	VEU	Difference
Max Drawdown Largest peak-to-trough decline	-35.67%	-61.52%	+25.85%
Max Drawdown (1Y) Largest decline over 1 year	-11.23%	-11.43%	+0.20%
Max Drawdown (3Y) Largest decline over 3 years	-13.38%	-13.69%	+0.31%
Max Drawdown (5Y) Largest decline over 5 years	-29.38%	-29.31%	-0.07%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.98%	—
Current Drawdown Current decline from peak	-2.48%	-0.98%	-1.50%
Average Drawdown Average peak-to-trough decline	-6.73%	-13.13%	+6.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.00%	2.93%	+0.07%

Volatility

JHMD vs. VEU - Volatility Comparison

The current volatility for John Hancock Multifactor Developed International ETF (JHMD) is 4.89%, while Vanguard FTSE All-World ex-US ETF (VEU) has a volatility of 5.59%. This indicates that JHMD experiences smaller price fluctuations and is considered to be less risky than VEU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JHMD	VEU	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.89%	5.59%	-0.70%
Volatility (6M) Calculated over the trailing 6-month period	12.05%	13.04%	-0.99%
Volatility (1Y) Calculated over the trailing 1-year period	14.66%	15.29%	-0.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.26%	16.07%	+0.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.20%	17.21%	-0.01%

JHMD vs. VEU - Expense Ratio Comparison

JHMD has a 0.39% expense ratio, which is higher than VEU's 0.04% expense ratio.

Dividends

JHMD vs. VEU - Dividend Comparison

JHMD's dividend yield for the trailing twelve months is around 2.96%, more than VEU's 2.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VEU Vanguard FTSE All-World ex-US ETF	2.61%	3.09%	3.24%	3.32%	3.12%	3.08%	2.00%	3.10%	3.27%	2.66%	2.96%	2.95%

Frequently Asked Questions

Can I hold both JHMD and VEU in my portfolio?

With a correlation of 0.94, JHMD and VEU 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 VEU?

VEU has higher volatility (5.59%) compared to JHMD (4.89%). In terms of maximum drawdown, JHMD dropped -35.67% vs VEU's -61.52%.

Which ETF is better, JHMD or VEU?

On 5-year performance, VEU leads with 8.67% vs 8.47% for JHMD. On fees, VEU is cheaper at 0.04% 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 VEU?

Over the 5-year period, VEU has performed better with a 8.67% 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 VEU?

VEU is cheaper with a 0.04% expense ratio, compared with 0.39% for JHMD.

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

JHMD has the higher dividend yield at 2.96%, compared with 2.61% for VEU.

What is the main difference between JHMD and VEU?

JHMD tracks John Hancock Dimensional Developed International Index, while VEU tracks FTSE All-World ex US Index. They also come from different issuers: Manulife and Vanguard. Their fees differ too: 0.39% for JHMD and 0.04% for VEU.

Which has better risk-adjusted returns?

VEU currently has the higher Sharpe Ratio (2.13 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.