JHML vs. PWB
JHML (John Hancock Multifactor Large Cap ETF) and PWB (Invesco Dynamic Large Cap Growth ETF) are both Large Cap Growth Equities funds - JHML tracks the John Hancock Dimensional Large Cap Index while PWB tracks the Dynamic Large Cap Growth Intellidex Index. Both are passively managed. Over the past 10 years, JHML returned 14.36%/yr vs 18.63%/yr for PWB. Their correlation of 0.87 suggests significant overlap in exposure. JHML charges 0.29%/yr vs 0.56%/yr for PWB.
Performance
JHML vs. PWB - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, JHML achieves a 10.32% return, which is significantly lower than PWB's 26.97% return. Over the past 10 years, JHML has underperformed PWB with an annualized return of 14.36%, while PWB has yielded a comparatively higher 18.63% annualized return.
JHML
- 1D
- 0.11%
- 1M
- 0.41%
- YTD
- 10.32%
- 6M
- 8.94%
- 1Y
- 22.69%
- 3Y*
- 19.37%
- 5Y*
- 11.43%
- 10Y*
- 14.36%
PWB
- 1D
- 0.14%
- 1M
- 4.32%
- YTD
- 26.97%
- 6M
- 24.31%
- 1Y
- 40.71%
- 3Y*
- 32.98%
- 5Y*
- 17.22%
- 10Y*
- 18.63%
JHML vs. PWB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JHML John Hancock Multifactor Large Cap ETF | 10.32% | 15.91% | 19.84% | 21.16% | -15.94% | 26.90% | 17.02% | 30.94% | -6.45% | 21.52% |
PWB Invesco Dynamic Large Cap Growth ETF | 26.97% | 24.94% | 31.04% | 30.61% | -25.81% | 19.58% | 31.89% | 24.68% | 0.88% | 30.71% |
Correlation
The correlation between JHML and PWB is 0.84, 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 | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2015 | 0.87 |
The correlation between JHML and PWB has been stable across timeframes, ranging from 0.84 to 0.90 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
JHML vs. PWB — Risk / Return Rank
JHML
PWB
JHML vs. PWB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for John Hancock Multifactor Large Cap ETF (JHML) and Invesco Dynamic Large Cap Growth ETF (PWB). 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.
| JHML | PWB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.34 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.87 | 3.38 | -0.51 |
| Martin ratioReturn relative to average drawdown | 12.96 | 13.98 | -1.02 |
Loading charts...
Drawdowns
JHML vs. PWB - Drawdown Comparison
The maximum JHML drawdown since its inception was -36.13%, smaller than the maximum PWB drawdown of -52.58%. Use the drawdown chart below to compare losses from any high point for JHML and PWB.
Loading charts...
Drawdown Indicators
| JHML | PWB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.13% | -52.58% | +16.45% |
Max Drawdown (1Y)Largest decline over 1 year | -7.95% | -12.11% | +4.16% |
Max Drawdown (3Y)Largest decline over 3 years | -18.20% | -22.10% | +3.90% |
Max Drawdown (5Y)Largest decline over 5 years | -23.47% | -31.41% | +7.94% |
Max Drawdown (10Y)Largest decline over 10 years | -36.13% | -32.36% | -3.77% |
Current DrawdownCurrent decline from peak | -1.82% | -4.23% | +2.41% |
Average DrawdownAverage peak-to-trough decline | -4.28% | -8.22% | +3.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.75% | 2.92% | -1.17% |
Volatility
JHML vs. PWB - Volatility Comparison
The current volatility for John Hancock Multifactor Large Cap ETF (JHML) is 4.35%, while Invesco Dynamic Large Cap Growth ETF (PWB) has a volatility of 10.34%. This indicates that JHML experiences smaller price fluctuations and is considered to be less risky than PWB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| JHML | PWB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.35% | 10.34% | -5.99% |
Volatility (6M)Calculated over the trailing 6-month period | 9.40% | 17.32% | -7.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.95% | 20.68% | -8.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.36% | 21.41% | -5.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.76% | 20.91% | -3.15% |
JHML vs. PWB - Expense Ratio Comparison
JHML has a 0.29% expense ratio, which is lower than PWB's 0.56% expense ratio.
Dividends
JHML vs. PWB - Dividend Comparison
JHML's dividend yield for the trailing twelve months is around 0.96%, while PWB has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JHML John Hancock Multifactor Large Cap ETF | 0.96% | 1.06% | 1.16% | 1.39% | 1.46% | 1.08% | 1.59% | 1.73% | 1.57% | 1.44% | 1.36% | 0.38% |
PWB Invesco Dynamic Large Cap Growth ETF | 0.00% | 0.00% | 0.08% | 0.37% | 0.31% | 0.04% | 0.21% | 0.58% | 0.97% | 0.54% | 0.82% | 0.67% |
Frequently Asked Questions
JHML and PWB have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PWB has higher volatility (10.34%) compared to JHML (4.35%). In terms of maximum drawdown, JHML dropped -36.13% vs PWB's -52.58%.
On 10-year performance, PWB leads with 18.63% vs 14.36% for JHML. On fees, JHML is cheaper at 0.29% per year. On volatility, JHML has been the lower-risk option at 4.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PWB has performed better with a 18.63% return vs 14.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JHML is cheaper with a 0.29% expense ratio, compared with 0.56% for PWB.
JHML has the higher dividend yield at 0.96%, compared with 0.00% for PWB.
JHML tracks John Hancock Dimensional Large Cap Index, while PWB tracks Dynamic Large Cap Growth Intellidex Index. They also come from different issuers: Manulife and Invesco. Their fees differ too: 0.29% for JHML and 0.56% for PWB.
PWB currently has the higher Sharpe Ratio (1.98 vs 1.91), 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.
Find the right allocation for JHML and PWB
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer