JHMM vs. RFV

Last updated Jun 3, 2026

JHMM (John Hancock Multifactor Mid Cap ETF) and RFV (Invesco S&P MidCap 400® Pure Value ETF) are both exchange-traded funds - JHMM is a Mid Cap Growth Equities fund tracking the John Hancock Dimensional Mid Cap Index, while RFV is a Small Cap Value Equities fund tracking the S&P Mid Cap 400 Pure Value. Both are passively managed. Over the past 10 years, JHMM returned 11.91%/yr vs 12.57%/yr for RFV. Their correlation of 0.86 suggests significant overlap in exposure. JHMM charges 0.42%/yr vs 0.35%/yr for RFV.

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.

Returns By Period

The year-to-date returns for both investments are quite close, with JHMM having a 12.87% return and RFV slightly higher at 13.45%. Over the past 10 years, JHMM has underperformed RFV with an annualized return of 11.91%, while RFV has yielded a comparatively higher 12.57% annualized return.

JHMM

• 1D: 1.01%
• 1M: 2.92%
• YTD: 12.87%
• 6M: 14.13%
• 1Y: 26.43%
• 3Y*: 17.11%
• 5Y*: 8.57%
• 10Y*: 11.91%

RFV

• 1D: 1.72%
• 1M: 2.80%
• YTD: 13.45%
• 6M: 12.19%
• 1Y: 27.66%
• 3Y*: 16.91%
• 5Y*: 10.16%
• 10Y*: 12.57%

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

JHMM vs. RFV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JHMM John Hancock Multifactor Mid Cap ETF	12.87%	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	13.45%	7.66%	5.63%	30.26%	-3.99%	33.02%	9.61%	24.98%	-18.56%	14.74%

Correlation

The correlation between JHMM and RFV is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Sep 30, 2015	0.86

The correlation between JHMM and RFV has been stable across timeframes, ranging from 0.82 to 0.90 - a consistent structural relationship.

JHMM vs. RFV - Sectors Allocation Comparison

Sectors	JHMM	RFV
Industrials	19.4%	11.4%
Technology	17.2%	12.9%
Financial Services	15.3%	17.5%
Consumer Cyclical	11.0%	24.4%
Healthcare	10.2%	0.7%
Utilities	5.4%	-
Energy	5.4%	12.9%
Real Estate	5.4%	3.5%
Basic Materials	4.2%	7.6%
Consumer Defensive	3.7%	9.1%
Communication Services	2.7%	-

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: 52
JHMM Calmar Ratio Rank: 61
JHMM Martin Ratio Rank: 64

RFV

RFV Risk / Return Rank: 42
RFV Sharpe Ratio Rank: 43
RFV Sortino Ratio Rank: 46
RFV Omega Ratio Rank: 42
RFV Calmar Ratio Rank: 42
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	1.88	1.53	+0.35
Sortino ratio Return per unit of downside risk	2.69	2.32	+0.37
Omega ratio Gain probability vs. loss probability	1.33	1.27	+0.06
Calmar ratio Return relative to maximum drawdown	3.06	2.13	+0.93
Martin ratio Return relative to average drawdown	11.85	6.29	+5.56
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 1.88, which is comparable to the RFV Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of JHMM and RFV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JHMM	RFV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.88	1.53	+0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	0.46	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	0.50	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.38	+0.25

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	-8.64%	-12.51%	+3.87%
Max Drawdown (3Y) Largest decline over 3 years	-21.88%	-24.65%	+2.77%
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	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.44%	-9.80%	+4.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.23%	4.23%	-2.00%

Volatility

JHMM vs. RFV - Volatility Comparison

The current volatility for John Hancock Multifactor Mid Cap ETF (JHMM) is 3.85%, while Invesco S&P MidCap 400® Pure Value ETF (RFV) has a volatility of 4.80%. This indicates that JHMM experiences smaller price fluctuations and is considered to be less risky 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	3.85%	4.80%	-0.95%
Volatility (6M) Calculated over the trailing 6-month period	10.49%	11.86%	-1.37%
Volatility (1Y) Calculated over the trailing 1-year period	14.11%	18.15%	-4.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.32%	22.08%	-3.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.60%	25.00%	-5.40%

JHMM vs. RFV - Expense Ratio Comparison

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

Dividends

JHMM vs. RFV - Dividend Comparison

JHMM's dividend yield for the trailing twelve months is around 0.87%, less than RFV's 1.84% 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%
RFV Invesco S&P MidCap 400® Pure Value ETF	1.84%	2.07%	1.31%	1.27%	2.05%	1.60%	1.52%	1.71%	1.39%	1.36%	0.88%	1.79%

Frequently Asked Questions

Can I hold both JHMM and RFV in my portfolio?

JHMM and RFV have a correlation of 0.82, 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 RFV?

RFV has higher volatility (4.80%) compared to JHMM (3.85%). In terms of maximum drawdown, JHMM dropped -40.71% vs RFV's -71.82%.

Which ETF is better, JHMM or RFV?

On 10-year performance, RFV leads with 12.57% vs 11.91% for JHMM. On fees, RFV is cheaper at 0.35% per year. On volatility, JHMM has been the lower-risk option at 3.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JHMM or RFV?

Over the 10-year period, RFV has performed better with a 12.57% return vs 11.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JHMM or RFV?

RFV is cheaper with a 0.35% expense ratio, compared with 0.42% for JHMM.

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

RFV has the higher dividend yield at 1.84%, compared with 0.87% for JHMM.

What is the main difference between JHMM and RFV?

JHMM is categorized as Mid Cap Growth Equities, while RFV is Small Cap Value Equities. JHMM tracks John Hancock Dimensional Mid Cap Index, while RFV tracks S&P Mid Cap 400 Pure Value. They also come from different issuers: Manulife and Invesco. Their fees differ too: 0.42% for JHMM and 0.35% for RFV.

Which has better risk-adjusted returns?

JHMM currently has the higher Sharpe Ratio (1.88 vs 1.53), 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.