JHMM vs. FRTY

Last updated Aug 2, 2026

JHMM (John Hancock Multifactor Mid Cap ETF) and FRTY (Alger Mid Cap 40 ETF) are both Mid Cap Growth Equities funds. JHMM is passively managed, while FRTY is actively managed. Over the past 5 years, JHMM returned 8.30%/yr vs 2.37%/yr for FRTY. Their 0.71 correlation means they have sometimes moved together and sometimes differently. JHMM charges 0.42%/yr vs 0.60%/yr for FRTY.

Performance

JHMM vs. FRTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Multifactor Mid Cap ETF (JHMM) and Alger Mid Cap 40 ETF (FRTY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JHMM achieves a 13.54% return, which is significantly higher than FRTY's 5.48% return.

JHMM

• 1D: -0.01%
• 1M: -0.44%
• 6M: 8.72%
• YTD: 13.54%
• 1Y: 21.81%
• 3Y*: 14.22%
• 5Y*: 8.30%
• 10Y*: 11.70%
• ALL TIME*: 12.03%

FRTY

• 1D: 0.52%
• 1M: -4.84%
• 6M: 5.40%
• YTD: 5.48%
• 1Y: 12.22%
• 3Y*: 19.02%
• 5Y*: 2.37%
• 10Y*: —
• ALL TIME*: 2.49%

*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)
FRTY Alger Mid Cap 40 ETF	$353.31K	$584.27K	$524.74K
JHMM John Hancock Multifactor Mid Cap ETF	$16.53M	$15.46M	$17.20M

JHMM vs. FRTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
JHMM John Hancock Multifactor Mid Cap ETF	13.54%	10.73%	14.61%	14.53%	-15.30%	18.48%
FRTY Alger Mid Cap 40 ETF	5.48%	12.82%	38.86%	16.81%	-42.23%	2.46%

Correlation

The correlation between JHMM and FRTY is 0.67, 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.	0.67
Correlation (3Y) Balances recent behavior with more history.	0.67
Correlation (5Y) Shows whether the relationship held over a longer period.	0.72
Correlation (All Time) Calculated using the full available price history since Mar 1, 2021	0.71

The correlation between JHMM and FRTY has been stable across timeframes, ranging from 0.67 to 0.72 - a consistent structural relationship.

JHMM vs. FRTY - Sectors Allocation Comparison

Sectors	JHMM	FRTY
Financial Services	20.1%	5.2%
Technology	18.1%	37.5%
Industrials	16.4%	26.9%
Healthcare	8.5%	19.0%
Consumer Cyclical	8.3%	3.6%
Real Estate	8.1%	-
Basic Materials	7.4%	1.4%
Consumer Defensive	6.1%	1.0%
Utilities	3.7%	1.5%
Energy	1.8%	6.6%
Communication Services	1.0%	10.2%

Return for Risk

JHMM vs. FRTY — Risk / Return Rank

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

JHMM

JHMM Risk / Return Rank: 64
JHMM Sharpe Ratio Rank: 60
JHMM Sortino Ratio Rank: 61
JHMM Omega Ratio Rank: 57
JHMM Calmar Ratio Rank: 67
JHMM Martin Ratio Rank: 73

FRTY

FRTY Risk / Return Rank: 18
FRTY Sharpe Ratio Rank: 18
FRTY Sortino Ratio Rank: 19
FRTY Omega Ratio Rank: 18
FRTY Calmar Ratio Rank: 18
FRTY Martin Ratio Rank: 19

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.

JHMM vs. FRTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Multifactor Mid Cap ETF (JHMM) and Alger Mid Cap 40 ETF (FRTY). 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.

	JHMM	FRTY	Difference
Sharpe ratio: Return per unit of total volatility	1.41	0.33	+1.08
Sortino ratio: Return per unit of downside risk	2.06	0.63	+1.43
Omega ratio: Gain probability vs. loss probability	1.25	1.08	+0.17
Calmar ratio: Return relative to maximum drawdown	2.34	0.46	+1.88
Martin ratio: Return relative to average drawdown	8.99	1.12	+7.87

JHMM vs. FRTY - Sharpe Ratio Comparison

The current JHMM Sharpe Ratio is 1.41, which is higher than the FRTY Sharpe Ratio of 0.33. The chart below compares the historical Sharpe Ratios of JHMM and FRTY, 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

JHMM vs. FRTY - Drawdown Comparison

The maximum JHMM drawdown since its inception was -40.71%, smaller than the maximum FRTY drawdown of -53.15%. Use the drawdown chart below to compare losses from any high point for JHMM and FRTY.

Drawdown Indicators

	JHMM	FRTY	Difference
Max Drawdown Largest peak-to-trough decline	-40.71%	-53.15%	+12.44%
Max Drawdown (1Y) Largest decline over 1 year	-8.64%	-19.75%	+11.11%
Max Drawdown (3Y) Largest decline over 3 years	-21.88%	-31.48%	+9.60%
Max Drawdown (5Y) Largest decline over 5 years	-24.10%	-53.15%	+29.05%
Max Drawdown (10Y) Largest decline over 10 years	-40.71%	—	—
Current Drawdown Current decline from peak	-1.20%	-10.52%	+9.32%
Average Drawdown Average peak-to-trough decline	-5.37%	-27.30%	+21.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.24%	8.09%	-5.85%

Volatility

JHMM vs. FRTY - Volatility Comparison

The current volatility for John Hancock Multifactor Mid Cap ETF (JHMM) is 2.93%, while Alger Mid Cap 40 ETF (FRTY) has a volatility of 9.32%. This indicates that JHMM experiences smaller price fluctuations and is considered to be less risky than FRTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JHMM	FRTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.93%	9.32%	-6.39%
Volatility (6M) Calculated over the trailing 6-month period	10.62%	21.49%	-10.87%
Volatility (1Y) Calculated over the trailing 1-year period	14.33%	27.75%	-13.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.30%	27.66%	-9.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.54%	27.33%	-7.79%

JHMM vs. FRTY - Expense Ratio Comparison

JHMM has a 0.42% expense ratio, which is lower than FRTY's 0.60% expense ratio.

Dividends

JHMM vs. FRTY - Dividend Comparison

JHMM's dividend yield for the trailing twelve months is around 0.89%, more than FRTY's 0.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRTY Alger Mid Cap 40 ETF	0.18%	0.19%	0.10%	0.00%	0.00%	5.35%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
JHMM John Hancock Multifactor Mid Cap ETF	0.89%	0.98%	1.01%	1.17%	1.16%	0.72%	1.04%	1.02%	1.36%	0.90%	1.15%	0.33%

Frequently Asked Questions

Can I hold both JHMM and FRTY in my portfolio?

JHMM and FRTY have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JHMM or FRTY?

FRTY has higher volatility (9.32%) compared to JHMM (2.93%). In terms of maximum drawdown, JHMM dropped -40.71% vs FRTY's -53.15%.

Which ETF is better, JHMM or FRTY?

On 5-year performance, JHMM leads with 8.30% vs 2.37% for FRTY. On fees, JHMM is cheaper at 0.42% per year. On volatility, JHMM has been the lower-risk option at 2.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JHMM or FRTY?

Over the 5-year period, JHMM has performed better with a 8.30% return vs 2.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JHMM or FRTY?

JHMM is cheaper with a 0.42% expense ratio, compared with 0.60% for FRTY.

Which ETF pays a higher dividend yield, JHMM or FRTY?

JHMM has the higher dividend yield at 0.89%, compared with 0.18% for FRTY.

What is the main difference between JHMM and FRTY?

They also come from different issuers: Manulife and Alger. Their fees differ too: 0.42% for JHMM and 0.60% for FRTY.

Which has better risk-adjusted returns?

JHMM currently has the higher Sharpe Ratio (1.41 vs 0.33), 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.