JHMM vs. IWR

Last updated Jun 24, 2026

JHMM (John Hancock Multifactor Mid Cap ETF) and IWR (iShares Russell Midcap ETF) are both Mid Cap Growth Equities funds - JHMM tracks the John Hancock Dimensional Mid Cap Index while IWR tracks the Russell Midcap Index. Both are passively managed. Over the past 10 years, JHMM returned 12.21%/yr vs 11.90%/yr for IWR. With a 0.98 correlation, they move nearly in lockstep. JHMM charges 0.42%/yr vs 0.19%/yr for IWR.

Performance

JHMM vs. IWR - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with JHMM having a 12.48% return and IWR slightly higher at 12.62%. Both investments have delivered pretty close results over the past 10 years, with JHMM having a 12.21% annualized return and IWR not far behind at 11.90%.

JHMM

• 1D: -0.78%
• 1M: 1.45%
• YTD: 12.48%
• 6M: 10.73%
• 1Y: 23.57%
• 3Y*: 16.58%
• 5Y*: 8.41%
• 10Y*: 12.21%

IWR

• 1D: -1.15%
• 1M: 2.08%
• YTD: 12.62%
• 6M: 11.09%
• 1Y: 20.95%
• 3Y*: 16.93%
• 5Y*: 7.89%
• 10Y*: 11.90%

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

JHMM vs. IWR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JHMM John Hancock Multifactor Mid Cap ETF	12.48%	10.73%	14.61%	14.53%	-15.30%	24.54%	16.22%	30.01%	-9.57%	19.96%
IWR iShares Russell Midcap ETF	12.62%	10.37%	15.21%	17.05%	-17.48%	22.44%	16.93%	30.23%	-9.10%	18.25%

Correlation

The correlation between JHMM and IWR is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.99
Correlation (All Time) Calculated using the full available price history since Sep 29, 2015	0.98

The correlation between JHMM and IWR has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

JHMM vs. IWR - Sectors Allocation Comparison

Sectors	JHMM	IWR
Technology	19.3%	19.6%
Industrials	19.0%	18.1%
Financial Services	14.8%	12.1%
Consumer Cyclical	10.8%	11.1%
Healthcare	10.5%	8.7%
Real Estate	5.2%	6.8%
Utilities	5.1%	5.7%
Energy	4.8%	6.5%
Basic Materials	4.1%	4.2%
Consumer Defensive	3.6%	3.9%
Communication Services	2.7%	3.3%

Return for Risk

JHMM vs. IWR — Risk / Return Rank

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

JHMM

JHMM Risk / Return Rank: 54
JHMM Sharpe Ratio Rank: 50
JHMM Sortino Ratio Rank: 51
JHMM Omega Ratio Rank: 47
JHMM Calmar Ratio Rank: 59
JHMM Martin Ratio Rank: 62

IWR

IWR Risk / Return Rank: 49
IWR Sharpe Ratio Rank: 46
IWR Sortino Ratio Rank: 46
IWR Omega Ratio Rank: 42
IWR Calmar Ratio Rank: 55
IWR Martin Ratio Rank: 58

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.

JHMM vs. IWR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Multifactor Mid Cap ETF (JHMM) and iShares Russell Midcap ETF (IWR). 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	IWR	Difference
Sharpe ratio: Return per unit of total volatility	1.64	1.52	+0.12
Sortino ratio: Return per unit of downside risk	2.36	2.20	+0.17
Omega ratio: Gain probability vs. loss probability	1.29	1.27	+0.02
Calmar ratio: Return relative to maximum drawdown	2.74	2.58	+0.16
Martin ratio: Return relative to average drawdown	10.54	9.85	+0.68

JHMM vs. IWR - Sharpe Ratio Comparison

The current JHMM Sharpe Ratio is 1.64, which is comparable to the IWR Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of JHMM and IWR, 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. IWR - Drawdown Comparison

The maximum JHMM drawdown since its inception was -40.71%, smaller than the maximum IWR drawdown of -58.78%. Use the drawdown chart below to compare losses from any high point for JHMM and IWR.

Drawdown Indicators

	JHMM	IWR	Difference
Max Drawdown Largest peak-to-trough decline	-40.71%	-58.78%	+18.07%
Max Drawdown (1Y) Largest decline over 1 year	-8.64%	-8.17%	-0.47%
Max Drawdown (3Y) Largest decline over 3 years	-21.88%	-21.09%	-0.79%
Max Drawdown (5Y) Largest decline over 5 years	-24.10%	-26.18%	+2.08%
Max Drawdown (10Y) Largest decline over 10 years	-40.71%	-40.59%	-0.12%
Current Drawdown Current decline from peak	-1.27%	-1.45%	+0.18%
Average Drawdown Average peak-to-trough decline	-5.41%	-7.79%	+2.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.24%	2.13%	+0.11%

Volatility

JHMM vs. IWR - Volatility Comparison

John Hancock Multifactor Mid Cap ETF (JHMM) and iShares Russell Midcap ETF (IWR) have volatilities of 4.42% and 4.61%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JHMM	IWR	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.42%	4.61%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	10.89%	10.46%	+0.43%
Volatility (1Y) Calculated over the trailing 1-year period	14.46%	13.83%	+0.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.36%	18.29%	+0.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.59%	19.36%	+0.23%

JHMM vs. IWR - Expense Ratio Comparison

JHMM has a 0.42% expense ratio, which is higher than IWR's 0.19% expense ratio.

Dividends

JHMM vs. IWR - Dividend Comparison

JHMM's dividend yield for the trailing twelve months is around 0.87%, less than IWR's 1.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IWR iShares Russell Midcap ETF	1.18%	1.29%	1.27%	1.43%	1.59%	1.04%	1.28%	1.43%	1.98%	1.52%	1.72%	1.59%
JHMM John Hancock Multifactor Mid Cap ETF	0.87%	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 IWR in my portfolio?

With a correlation of 0.99, JHMM and IWR 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, JHMM or IWR?

IWR has higher volatility (4.61%) compared to JHMM (4.42%). In terms of maximum drawdown, JHMM dropped -40.71% vs IWR's -58.78%.

Which ETF is better, JHMM or IWR?

On 10-year performance, JHMM leads with 12.21% vs 11.90% for IWR. On fees, IWR is cheaper at 0.19% per year. On volatility, JHMM has been the lower-risk option at 4.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JHMM or IWR?

Over the 10-year period, JHMM has performed better with a 12.21% return vs 11.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JHMM or IWR?

IWR is cheaper with a 0.19% expense ratio, compared with 0.42% for JHMM.

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

IWR has the higher dividend yield at 1.18%, compared with 0.87% for JHMM.

What is the main difference between JHMM and IWR?

JHMM tracks John Hancock Dimensional Mid Cap Index, while IWR tracks Russell Midcap Index. They also come from different issuers: Manulife and iShares. Their fees differ too: 0.42% for JHMM and 0.19% for IWR.

Which has better risk-adjusted returns?

JHMM currently has the higher Sharpe Ratio (1.64 vs 1.52), 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.