JHMU vs. CALI
Compare and contrast key facts about John Hancock Dynamic Municipal Bond ETF (JHMU) and iShares Short-Term California Muni Active ETF (CALI).
JHMU and CALI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. JHMU is a passively managed fund by John Hancock that tracks the performance of the John Hancock Dimensional Utilities Index. It was launched on Nov 1, 2023. CALI is a passively managed fund by iShares that tracks the performance of the ICE AMT-Free California Municipal Index. It was launched on Oct 4, 2007. Both JHMU and CALI 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
JHMU vs. CALI - Performance Comparison
Loading graphics...
JHMU vs. CALI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
JHMU John Hancock Dynamic Municipal Bond ETF | -0.05% | 5.03% | 3.76% | 7.77% |
CALI iShares Short-Term California Muni Active ETF | 0.37% | 3.28% | 2.84% | 1.64% |
Returns By Period
In the year-to-date period, JHMU achieves a -0.05% return, which is significantly lower than CALI's 0.37% return.
JHMU
- 1D
- 0.17%
- 1M
- -2.23%
- YTD
- -0.05%
- 6M
- 1.69%
- 1Y
- 4.77%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CALI
- 1D
- 0.07%
- 1M
- -0.32%
- YTD
- 0.37%
- 6M
- 0.85%
- 1Y
- 2.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
JHMU vs. CALI - Expense Ratio Comparison
JHMU has a 0.39% expense ratio, which is higher than CALI's 0.08% expense ratio.
Return for Risk
JHMU vs. CALI — Risk / Return Rank
JHMU
CALI
JHMU vs. CALI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for John Hancock Dynamic Municipal Bond ETF (JHMU) and iShares Short-Term California Muni Active ETF (CALI). 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.
| JHMU | CALI | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.17 | 2.52 | -1.35 |
Sortino ratioReturn per unit of downside risk | 1.50 | 3.29 | -1.79 |
Omega ratioGain probability vs. loss probability | 1.26 | 1.63 | -0.36 |
Calmar ratioReturn relative to maximum drawdown | 1.31 | 3.63 | -2.32 |
Martin ratioReturn relative to average drawdown | 4.34 | 15.71 | -11.37 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| JHMU | CALI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.17 | 2.52 | -1.35 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.66 | 2.78 | -1.12 |
Correlation
The correlation between JHMU and CALI is 0.40, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
JHMU vs. CALI - Dividend Comparison
JHMU's dividend yield for the trailing twelve months is around 3.86%, more than CALI's 2.55% yield.
| TTM | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
JHMU John Hancock Dynamic Municipal Bond ETF | 3.86% | 4.36% | 7.29% | 0.63% |
CALI iShares Short-Term California Muni Active ETF | 2.55% | 2.62% | 3.14% | 1.37% |
Drawdowns
JHMU vs. CALI - Drawdown Comparison
The maximum JHMU drawdown since its inception was -4.48%, which is greater than CALI's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for JHMU and CALI.
Loading graphics...
Drawdown Indicators
| JHMU | CALI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.48% | -0.78% | -3.70% |
Max Drawdown (1Y)Largest decline over 1 year | -3.69% | -0.78% | -2.91% |
Current DrawdownCurrent decline from peak | -2.27% | -0.38% | -1.89% |
Average DrawdownAverage peak-to-trough decline | -0.81% | -0.08% | -0.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.12% | 0.18% | +0.94% |
Volatility
JHMU vs. CALI - Volatility Comparison
John Hancock Dynamic Municipal Bond ETF (JHMU) has a higher volatility of 1.29% compared to iShares Short-Term California Muni Active ETF (CALI) at 0.34%. This indicates that JHMU's price experiences larger fluctuations and is considered to be riskier than CALI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| JHMU | CALI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.29% | 0.34% | +0.95% |
Volatility (6M)Calculated over the trailing 6-month period | 2.08% | 0.52% | +1.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.10% | 1.09% | +3.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.19% | 1.13% | +3.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.19% | 1.13% | +3.06% |