JHML vs. OUSA

Last updated Jun 4, 2026

JHML (John Hancock Multifactor Large Cap ETF) and OUSA (OShares U.S. Quality Dividend ETF) are both Large Cap Growth Equities funds - JHML tracks the John Hancock Dimensional Large Cap Index while OUSA tracks the O'Shares US Quality Dividend Index. Both are passively managed. Over the past 10 years, JHML returned 14.24%/yr vs 10.22%/yr for OUSA. Their correlation of 0.86 suggests significant overlap in exposure. JHML charges 0.29%/yr vs 0.48%/yr for OUSA.

Performance

JHML vs. OUSA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Multifactor Large Cap ETF (JHML) and OShares U.S. Quality Dividend ETF (OUSA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JHML achieves a 11.62% return, which is significantly higher than OUSA's 1.05% return. Over the past 10 years, JHML has outperformed OUSA with an annualized return of 14.24%, while OUSA has yielded a comparatively lower 10.22% annualized return.

JHML

• 1D: -0.45%
• 1M: 4.79%
• YTD: 11.62%
• 6M: 11.80%
• 1Y: 26.67%
• 3Y*: 20.37%
• 5Y*: 11.88%
• 10Y*: 14.24%

OUSA

• 1D: -0.75%
• 1M: 1.02%
• YTD: 1.05%
• 6M: 1.29%
• 1Y: 9.81%
• 3Y*: 12.63%
• 5Y*: 8.62%
• 10Y*: 10.22%

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

JHML vs. OUSA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JHML John Hancock Multifactor Large Cap ETF	11.62%	15.91%	19.84%	21.16%	-15.94%	26.90%	17.02%	30.94%	-6.45%	21.52%
OUSA OShares U.S. Quality Dividend ETF	1.05%	10.23%	17.09%	13.44%	-9.33%	23.75%	6.96%	25.03%	-3.11%	18.81%

Correlation

The correlation between JHML and OUSA is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Oct 1, 2015	0.86

The correlation between JHML and OUSA shifts across timeframes, from 0.73 (1 year) to 0.87 (10 years), reflecting how their relationship changes across market environments.

JHML vs. OUSA - Sectors Allocation Comparison

Sectors	JHML	OUSA
Technology	27.8%	23.4%
Financial Services	13.8%	18.5%
Industrials	12.2%	11.6%
Consumer Cyclical	10.3%	13.4%
Healthcare	9.0%	14.1%
Communication Services	8.4%	11.4%
Consumer Defensive	5.1%	7.6%
Energy	4.3%	-
Utilities	4.0%	-
Basic Materials	2.8%	-
Real Estate	2.4%	-

Return for Risk

JHML vs. OUSA — Risk / Return Rank

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

JHML

JHML Risk / Return Rank: 72
JHML Sharpe Ratio Rank: 71
JHML Sortino Ratio Rank: 72
JHML Omega Ratio Rank: 71
JHML Calmar Ratio Rank: 68
JHML Martin Ratio Rank: 80

OUSA

OUSA Risk / Return Rank: 27
OUSA Sharpe Ratio Rank: 28
OUSA Sortino Ratio Rank: 28
OUSA Omega Ratio Rank: 26
OUSA Calmar Ratio Rank: 25
OUSA Martin Ratio Rank: 29

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.

JHML vs. OUSA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Multifactor Large Cap ETF (JHML) and OShares U.S. Quality Dividend ETF (OUSA). 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.

	JHML	OUSA	Difference
Sharpe ratio: Return per unit of total volatility	2.34	1.01	+1.33
Sortino ratio: Return per unit of downside risk	3.28	1.53	+1.74
Omega ratio: Gain probability vs. loss probability	1.42	1.18	+0.25
Calmar ratio: Return relative to maximum drawdown	3.37	1.18	+2.19
Martin ratio: Return relative to average drawdown	15.61	4.19	+11.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JHML vs. OUSA - Sharpe Ratio Comparison

The current JHML Sharpe Ratio is 2.34, which is higher than the OUSA Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of JHML and OUSA, 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

	JHML	OUSA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.34	1.01	+1.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	0.65	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.80	0.68	+0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	0.68	+0.13

Drawdowns

JHML vs. OUSA - Drawdown Comparison

The maximum JHML drawdown since its inception was -36.13%, which is greater than OUSA's maximum drawdown of -33.12%. Use the drawdown chart below to compare losses from any high point for JHML and OUSA.

Drawdown Indicators

	JHML	OUSA	Difference
Max Drawdown Largest peak-to-trough decline	-36.13%	-33.12%	-3.01%
Max Drawdown (1Y) Largest decline over 1 year	-7.95%	-8.36%	+0.41%
Max Drawdown (3Y) Largest decline over 3 years	-18.20%	-13.14%	-5.06%
Max Drawdown (5Y) Largest decline over 5 years	-23.47%	-19.54%	-3.93%
Max Drawdown (10Y) Largest decline over 10 years	-36.13%	-33.12%	-3.01%
Current Drawdown Current decline from peak	-0.45%	-2.58%	+2.13%
Average Drawdown Average peak-to-trough decline	-4.29%	-3.53%	-0.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.71%	2.35%	-0.64%

Volatility

JHML vs. OUSA - Volatility Comparison

John Hancock Multifactor Large Cap ETF (JHML) has a higher volatility of 2.84% compared to OShares U.S. Quality Dividend ETF (OUSA) at 2.25%. This indicates that JHML's price experiences larger fluctuations and is considered to be riskier than OUSA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JHML	OUSA	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.84%	2.25%	+0.59%
Volatility (6M) Calculated over the trailing 6-month period	8.70%	7.18%	+1.52%
Volatility (1Y) Calculated over the trailing 1-year period	11.48%	9.75%	+1.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.29%	13.30%	+2.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.76%	15.16%	+2.60%

JHML vs. OUSA - Expense Ratio Comparison

JHML has a 0.29% expense ratio, which is lower than OUSA's 0.48% expense ratio.

Dividends

JHML vs. OUSA - Dividend Comparison

JHML's dividend yield for the trailing twelve months is around 0.95%, less than OUSA's 1.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JHML John Hancock Multifactor Large Cap ETF	0.95%	1.06%	1.16%	1.39%	1.46%	1.08%	1.59%	1.73%	1.57%	1.44%	1.36%	0.38%
OUSA OShares U.S. Quality Dividend ETF	1.42%	1.39%	1.50%	1.81%	1.92%	1.56%	2.03%	2.31%	3.06%	2.15%	2.32%	1.17%

Frequently Asked Questions

Can I hold both JHML and OUSA in my portfolio?

JHML and OUSA have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JHML or OUSA?

JHML has higher volatility (2.84%) compared to OUSA (2.25%). In terms of maximum drawdown, JHML dropped -36.13% vs OUSA's -33.12%.

Which ETF is better, JHML or OUSA?

On 10-year performance, JHML leads with 14.24% vs 10.22% for OUSA. On fees, JHML is cheaper at 0.29% per year. On volatility, OUSA has been the lower-risk option at 2.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JHML or OUSA?

Over the 10-year period, JHML has performed better with a 14.24% return vs 10.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JHML or OUSA?

JHML is cheaper with a 0.29% expense ratio, compared with 0.48% for OUSA.

Which ETF pays a higher dividend yield, JHML or OUSA?

OUSA has the higher dividend yield at 1.42%, compared with 0.95% for JHML.

What is the main difference between JHML and OUSA?

JHML tracks John Hancock Dimensional Large Cap Index, while OUSA tracks O'Shares US Quality Dividend Index. They also come from different issuers: Manulife and O'Shares Investments. Their fees differ too: 0.29% for JHML and 0.48% for OUSA.

Which has better risk-adjusted returns?

JHML currently has the higher Sharpe Ratio (2.34 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.