JHMM vs. IVOG
JHMM (John Hancock Multifactor Mid Cap ETF) and IVOG (Vanguard S&P Mid-Cap 400 Growth ETF) are both Mid Cap Growth Equities funds - JHMM tracks the John Hancock Dimensional Mid Cap Index while IVOG tracks the S&P MidCap 400 Growth Index. Both are passively managed. Over the past 10 years, JHMM returned 11.62%/yr vs 11.06%/yr for IVOG. With a 0.95 correlation, they move nearly in lockstep. JHMM charges 0.42%/yr vs 0.10%/yr for IVOG.
Performance
JHMM vs. IVOG - Performance Comparison
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Returns By Period
In the year-to-date period, JHMM achieves a 13.19% return, which is significantly lower than IVOG's 16.96% return. Both investments have delivered pretty close results over the past 10 years, with JHMM having a 11.62% annualized return and IVOG not far behind at 11.06%.
JHMM
- 1D
- -0.47%
- 1M
- -0.22%
- 6M
- 8.53%
- YTD
- 13.19%
- 1Y
- 20.20%
- 3Y*
- 14.60%
- 5Y*
- 8.62%
- 10Y*
- 11.62%
IVOG
- 1D
- -1.05%
- 1M
- -1.65%
- 6M
- 11.10%
- YTD
- 16.96%
- 1Y
- 23.29%
- 3Y*
- 14.86%
- 5Y*
- 8.21%
- 10Y*
- 11.06%
JHMM vs. IVOG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JHMM John Hancock Multifactor Mid Cap ETF | 13.19% | 10.73% | 14.61% | 14.53% | -15.30% | 24.54% | 16.22% | 30.01% | -9.57% | 19.96% |
IVOG Vanguard S&P Mid-Cap 400 Growth ETF | 16.96% | 7.34% | 15.62% | 17.36% | -19.08% | 18.85% | 22.60% | 26.13% | -10.58% | 19.90% |
Correlation
The correlation between JHMM and IVOG 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 | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2015 | 0.95 |
The correlation between JHMM and IVOG has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.
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Return for Risk
JHMM vs. IVOG — Risk / Return Rank
JHMM
IVOG
JHMM vs. IVOG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for John Hancock Multifactor Mid Cap ETF (JHMM) and Vanguard S&P Mid-Cap 400 Growth ETF (IVOG). 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 | IVOG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.23 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.35 | 2.41 | -0.07 |
| Martin ratioReturn relative to average drawdown | 9.02 | 9.23 | -0.22 |
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Drawdowns
JHMM vs. IVOG - Drawdown Comparison
The maximum JHMM drawdown since its inception was -40.71%, roughly equal to the maximum IVOG drawdown of -39.32%. Use the drawdown chart below to compare losses from any high point for JHMM and IVOG.
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Drawdown Indicators
| JHMM | IVOG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.71% | -39.32% | -1.39% |
Max Drawdown (1Y)Largest decline over 1 year | -8.64% | -9.69% | +1.05% |
Max Drawdown (3Y)Largest decline over 3 years | -21.88% | -25.61% | +3.73% |
Max Drawdown (5Y)Largest decline over 5 years | -24.10% | -29.31% | +5.21% |
Max Drawdown (10Y)Largest decline over 10 years | -40.71% | -39.32% | -1.39% |
Current DrawdownCurrent decline from peak | -1.51% | -3.90% | +2.39% |
Average DrawdownAverage peak-to-trough decline | -5.39% | -5.85% | +0.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.25% | 2.53% | -0.28% |
Volatility
JHMM vs. IVOG - Volatility Comparison
The current volatility for John Hancock Multifactor Mid Cap ETF (JHMM) is 3.95%, while Vanguard S&P Mid-Cap 400 Growth ETF (IVOG) has a volatility of 5.56%. This indicates that JHMM experiences smaller price fluctuations and is considered to be less risky than IVOG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JHMM | IVOG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.95% | 5.56% | -1.61% |
Volatility (6M)Calculated over the trailing 6-month period | 10.76% | 13.92% | -3.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.45% | 17.90% | -3.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.35% | 20.72% | -2.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.54% | 20.59% | -1.05% |
JHMM vs. IVOG - Expense Ratio Comparison
JHMM has a 0.42% expense ratio, which is higher than IVOG's 0.10% expense ratio.
Dividends
JHMM vs. IVOG - Dividend Comparison
JHMM's dividend yield for the trailing twelve months is around 0.89%, more than IVOG's 0.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IVOG Vanguard S&P Mid-Cap 400 Growth ETF | 0.55% | 0.64% | 0.79% | 1.15% | 1.05% | 0.47% | 0.74% | 1.17% | 1.01% | 0.93% | 1.11% | 1.04% |
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
With a correlation of 0.93, JHMM and IVOG 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.
IVOG has higher volatility (5.56%) compared to JHMM (3.95%). In terms of maximum drawdown, JHMM dropped -40.71% vs IVOG's -39.32%.
On 10-year performance, JHMM leads with 11.62% vs 11.06% for IVOG. On fees, IVOG is cheaper at 0.10% per year. On volatility, JHMM has been the lower-risk option at 3.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, JHMM has performed better with a 11.62% return vs 11.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVOG is cheaper with a 0.10% expense ratio, compared with 0.42% for JHMM.
JHMM has the higher dividend yield at 0.89%, compared with 0.55% for IVOG.
JHMM tracks John Hancock Dimensional Mid Cap Index, while IVOG tracks S&P MidCap 400 Growth Index. They also come from different issuers: Manulife and Vanguard. Their fees differ too: 0.42% for JHMM and 0.10% for IVOG.
JHMM currently has the higher Sharpe Ratio (1.41 vs 1.31), 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.
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