JHMM vs. QQQJ

Last updated Jun 24, 2026

JHMM (John Hancock Multifactor Mid Cap ETF) and QQQJ (Invesco NASDAQ Next Gen 100 ETF) are both Mid Cap Growth Equities funds - JHMM tracks the John Hancock Dimensional Mid Cap Index while QQQJ tracks the NASDAQ Next Generation 100 Index. Both are passively managed. Over the past 5 years, JHMM returned 8.41%/yr vs 6.21%/yr for QQQJ. Their correlation of 0.87 suggests significant overlap in exposure. JHMM charges 0.42%/yr vs 0.15%/yr for QQQJ.

Performance

JHMM vs. QQQJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Multifactor Mid Cap ETF (JHMM) and Invesco NASDAQ Next Gen 100 ETF (QQQJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JHMM achieves a 12.48% return, which is significantly lower than QQQJ's 20.04% return.

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%

QQQJ

• 1D: -1.14%
• 1M: 2.22%
• YTD: 20.04%
• 6M: 17.68%
• 1Y: 41.94%
• 3Y*: 21.29%
• 5Y*: 6.21%
• 10Y*: —

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

JHMM vs. QQQJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
JHMM John Hancock Multifactor Mid Cap ETF	12.48%	10.73%	14.61%	14.53%	-15.30%	24.54%	12.34%
QQQJ Invesco NASDAQ Next Gen 100 ETF	20.04%	20.44%	15.36%	13.68%	-28.25%	9.76%	15.34%

Correlation

The correlation between JHMM and QQQJ 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	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Oct 13, 2020	0.87

The correlation between JHMM and QQQJ has been stable across timeframes, ranging from 0.84 to 0.89 - a consistent structural relationship.

JHMM vs. QQQJ - Sectors Allocation Comparison

Sectors	JHMM	QQQJ
Technology	19.3%	40.4%
Industrials	19.0%	11.1%
Financial Services	14.8%	2.0%
Consumer Cyclical	10.8%	11.3%
Healthcare	10.5%	18.7%
Real Estate	5.2%	-
Utilities	5.1%	2.6%
Energy	4.8%	1.0%
Basic Materials	4.1%	2.6%
Consumer Defensive	3.6%	2.6%
Communication Services	2.7%	7.8%

Return for Risk

JHMM vs. QQQJ — 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

QQQJ

QQQJ Risk / Return Rank: 72
QQQJ Sharpe Ratio Rank: 72
QQQJ Sortino Ratio Rank: 68
QQQJ Omega Ratio Rank: 67
QQQJ Calmar Ratio Rank: 73
QQQJ Martin Ratio Rank: 79

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. QQQJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Multifactor Mid Cap ETF (JHMM) and Invesco NASDAQ Next Gen 100 ETF (QQQJ). 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	QQQJ	Difference
Sharpe ratio: Return per unit of total volatility	1.64	2.22	-0.58
Sortino ratio: Return per unit of downside risk	2.36	2.97	-0.61
Omega ratio: Gain probability vs. loss probability	1.29	1.38	-0.10
Calmar ratio: Return relative to maximum drawdown	2.74	3.56	-0.82
Martin ratio: Return relative to average drawdown	10.54	14.75	-4.21

JHMM vs. QQQJ - Sharpe Ratio Comparison

The current JHMM Sharpe Ratio is 1.64, which is comparable to the QQQJ Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of JHMM and QQQJ, 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. QQQJ - Drawdown Comparison

The maximum JHMM drawdown since its inception was -40.71%, roughly equal to the maximum QQQJ drawdown of -39.57%. Use the drawdown chart below to compare losses from any high point for JHMM and QQQJ.

Drawdown Indicators

	JHMM	QQQJ	Difference
Max Drawdown Largest peak-to-trough decline	-40.71%	-39.57%	-1.14%
Max Drawdown (1Y) Largest decline over 1 year	-8.64%	-11.84%	+3.20%
Max Drawdown (3Y) Largest decline over 3 years	-21.88%	-22.46%	+0.58%
Max Drawdown (5Y) Largest decline over 5 years	-24.10%	-39.57%	+15.47%
Max Drawdown (10Y) Largest decline over 10 years	-40.71%	—	—
Current Drawdown Current decline from peak	-1.27%	-3.24%	+1.97%
Average Drawdown Average peak-to-trough decline	-5.41%	-15.62%	+10.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.24%	2.85%	-0.61%

Volatility

JHMM vs. QQQJ - Volatility Comparison

The current volatility for John Hancock Multifactor Mid Cap ETF (JHMM) is 4.42%, while Invesco NASDAQ Next Gen 100 ETF (QQQJ) has a volatility of 7.18%. This indicates that JHMM experiences smaller price fluctuations and is considered to be less risky than QQQJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JHMM	QQQJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.42%	7.18%	-2.76%
Volatility (6M) Calculated over the trailing 6-month period	10.89%	15.70%	-4.81%
Volatility (1Y) Calculated over the trailing 1-year period	14.46%	19.00%	-4.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.36%	22.18%	-3.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.59%	22.11%	-2.52%

JHMM vs. QQQJ - Expense Ratio Comparison

JHMM has a 0.42% expense ratio, which is higher than QQQJ's 0.15% expense ratio.

Dividends

JHMM vs. QQQJ - Dividend Comparison

JHMM's dividend yield for the trailing twelve months is around 0.87%, more than QQQJ's 0.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
QQQJ Invesco NASDAQ Next Gen 100 ETF	0.55%	0.85%	0.77%	0.67%	0.76%	0.91%	0.09%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JHMM and QQQJ in my portfolio?

JHMM and QQQJ 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.

Which is riskier, JHMM or QQQJ?

QQQJ has higher volatility (7.18%) compared to JHMM (4.42%). In terms of maximum drawdown, JHMM dropped -40.71% vs QQQJ's -39.57%.

Which ETF is better, JHMM or QQQJ?

On 5-year performance, JHMM leads with 8.41% vs 6.21% for QQQJ. On fees, QQQJ is cheaper at 0.15% 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 QQQJ?

Over the 5-year period, JHMM has performed better with a 8.41% return vs 6.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JHMM or QQQJ?

QQQJ is cheaper with a 0.15% expense ratio, compared with 0.42% for JHMM.

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

JHMM has the higher dividend yield at 0.87%, compared with 0.55% for QQQJ.

What is the main difference between JHMM and QQQJ?

JHMM tracks John Hancock Dimensional Mid Cap Index, while QQQJ tracks NASDAQ Next Generation 100 Index. They also come from different issuers: Manulife and Invesco. Their fees differ too: 0.42% for JHMM and 0.15% for QQQJ.

Which has better risk-adjusted returns?

QQQJ currently has the higher Sharpe Ratio (2.22 vs 1.64), 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.