JHMM vs. RFV

Last updated Apr 1, 2026

Compare and contrast key facts about John Hancock Multifactor Mid Cap ETF (JHMM) and Invesco S&P MidCap 400® Pure Value ETF (RFV).

JHMM and RFV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. JHMM is a passively managed fund by Manulife that tracks the performance of the John Hancock Dimensional Mid Cap Index. It was launched on Sep 28, 2015. RFV is a passively managed fund by Invesco that tracks the performance of the S&P Mid Cap 400 Pure Value. It was launched on Mar 1, 2006. Both JHMM and RFV are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

JHMM vs. RFV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Multifactor Mid Cap ETF (JHMM) and Invesco S&P MidCap 400® Pure Value ETF (RFV). The values are adjusted to include any dividend payments, if applicable.

JHMM vs. RFV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JHMM John Hancock Multifactor Mid Cap ETF	2.50%	10.73%	14.61%	14.53%	-15.30%	24.54%	16.22%	30.01%	-9.57%	19.96%
RFV Invesco S&P MidCap 400® Pure Value ETF	2.24%	7.66%	5.63%	30.26%	-3.99%	33.02%	9.61%	24.98%	-18.56%	14.74%

Returns By Period

In the year-to-date period, JHMM achieves a 2.50% return, which is significantly higher than RFV's 2.24% return. Both investments have delivered pretty close results over the past 10 years, with JHMM having a 11.11% annualized return and RFV not far ahead at 11.65%.

JHMM

• 1D: 2.74%
• 1M: -5.50%
• YTD: 2.50%
• 6M: 4.33%
• 1Y: 18.32%
• 3Y*: 13.14%
• 5Y*: 7.26%
• 10Y*: 11.11%

RFV

• 1D: 1.99%
• 1M: -3.38%
• YTD: 2.24%
• 6M: 2.35%
• 1Y: 16.32%
• 3Y*: 13.21%
• 5Y*: 9.38%
• 10Y*: 11.65%

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

JHMM vs. RFV - Expense Ratio Comparison

JHMM has a 0.42% expense ratio, which is higher than RFV's 0.35% expense ratio.

JHMM

John Hancock Multifactor Mid Cap ETF

RFV

Invesco S&P MidCap 400® Pure Value ETF

Return for Risk

JHMM vs. RFV — Risk / Return Rank

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

JHMM

JHMM Risk / Return Rank: 57
JHMM Sharpe Ratio Rank: 54
JHMM Sortino Ratio Rank: 56
JHMM Omega Ratio Rank: 55
JHMM Calmar Ratio Rank: 56
JHMM Martin Ratio Rank: 64

RFV

RFV Risk / Return Rank: 41
RFV Sharpe Ratio Rank: 38
RFV Sortino Ratio Rank: 42
RFV Omega Ratio Rank: 40
RFV Calmar Ratio Rank: 44
RFV Martin Ratio Rank: 39

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. RFV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Multifactor Mid Cap ETF (JHMM) and Invesco S&P MidCap 400® Pure Value ETF (RFV). 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.

	JHMM	RFV	Difference
Sharpe ratio Return per unit of total volatility	0.94	0.67	+0.27
Sortino ratio Return per unit of downside risk	1.43	1.14	+0.29
Omega ratio Gain probability vs. loss probability	1.20	1.15	+0.05
Calmar ratio Return relative to maximum drawdown	1.40	1.06	+0.34
Martin ratio Return relative to average drawdown	6.27	3.47	+2.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JHMM vs. RFV - Sharpe Ratio Comparison

The current JHMM Sharpe Ratio is 0.94, which is higher than the RFV Sharpe Ratio of 0.67. The chart below compares the historical Sharpe Ratios of JHMM and RFV, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	JHMM	RFV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.94	0.67	+0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	0.42	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	0.47	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.36	+0.23

Correlation

The correlation between JHMM and RFV is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

JHMM vs. RFV - Dividend Comparison

JHMM's dividend yield for the trailing twelve months is around 0.95%, less than RFV's 2.04% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JHMM John Hancock Multifactor Mid Cap ETF	0.95%	0.98%	1.01%	1.17%	1.16%	0.72%	1.04%	1.02%	1.36%	0.90%	1.15%	0.33%
RFV Invesco S&P MidCap 400® Pure Value ETF	2.04%	2.07%	1.31%	1.27%	2.05%	1.60%	1.52%	1.71%	1.39%	1.36%	0.88%	1.79%

Drawdowns

JHMM vs. RFV - Drawdown Comparison

The maximum JHMM drawdown since its inception was -40.71%, smaller than the maximum RFV drawdown of -71.82%. Use the drawdown chart below to compare losses from any high point for JHMM and RFV.

Drawdown Indicators

	JHMM	RFV	Difference
Max Drawdown Largest peak-to-trough decline	-40.71%	-71.82%	+31.11%
Max Drawdown (1Y) Largest decline over 1 year	-13.57%	-15.62%	+2.05%
Max Drawdown (5Y) Largest decline over 5 years	-24.10%	-24.65%	+0.55%
Max Drawdown (10Y) Largest decline over 10 years	-40.71%	-52.24%	+11.53%
Current Drawdown Current decline from peak	-6.14%	-8.48%	+2.34%
Average Drawdown Average peak-to-trough decline	-5.50%	-9.85%	+4.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.04%	4.78%	-1.74%

Volatility

JHMM vs. RFV - Volatility Comparison

John Hancock Multifactor Mid Cap ETF (JHMM) has a higher volatility of 5.87% compared to Invesco S&P MidCap 400® Pure Value ETF (RFV) at 5.23%. This indicates that JHMM's price experiences larger fluctuations and is considered to be riskier than RFV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JHMM	RFV	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.87%	5.23%	+0.64%
Volatility (6M) Calculated over the trailing 6-month period	10.91%	13.17%	-2.26%
Volatility (1Y) Calculated over the trailing 1-year period	19.52%	24.40%	-4.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.31%	22.22%	-3.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.58%	25.05%	-5.47%