JHMU vs. JDVI

Last updated Jun 5, 2026

JHMU (John Hancock Dynamic Municipal Bond ETF) and JDVI (John Hancock Disciplined Value International Select ETF) are both exchange-traded funds - JHMU is a Municipal Bonds fund tracking the John Hancock Dimensional Utilities Index, while JDVI is a Foreign Large Cap Equities fund actively managed by John Hancock. JHMU is passively managed, while JDVI is actively managed. Over the past year, JHMU returned 7.41% vs 31.39% for JDVI. At a 0.19 correlation, their price movements are largely independent. JHMU charges 0.39%/yr vs 0.69%/yr for JDVI.

Performance

JHMU vs. JDVI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Dynamic Municipal Bond ETF (JHMU) and John Hancock Disciplined Value International Select ETF (JDVI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JHMU achieves a 1.83% return, which is significantly lower than JDVI's 13.16% return.

JHMU

• 1D: 0.17%
• 1M: 0.81%
• YTD: 1.83%
• 6M: 2.36%
• 1Y: 7.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JDVI

• 1D: 0.90%
• 1M: 4.18%
• YTD: 13.16%
• 6M: 16.49%
• 1Y: 31.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JHMU vs. JDVI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JHMU John Hancock Dynamic Municipal Bond ETF	1.83%	5.03%	3.76%	0.18%
JDVI John Hancock Disciplined Value International Select ETF	13.16%	42.97%	0.68%	2.25%

Correlation

The correlation between JHMU and JDVI is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (All Time) Calculated using the full available price history since Dec 21, 2023	0.19

JHMU vs. JDVI - Sectors Allocation Comparison

Sectors	JHMU	JDVI
Utilities	99.0%	-
Basic Materials	-	19.4%
Communication Services	-	5.8%
Consumer Cyclical	-	2.0%
Consumer Defensive	-	3.4%
Energy	-	3.6%
Financial Services	-	22.3%
Healthcare	-	15.6%
Industrials	-	16.8%
Real Estate	-	-
Technology	-	11.1%

Return for Risk

JHMU vs. JDVI — Risk / Return Rank

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

JHMU

JHMU Risk / Return Rank: 74
JHMU Sharpe Ratio Rank: 83
JHMU Sortino Ratio Rank: 87
JHMU Omega Ratio Rank: 89
JHMU Calmar Ratio Rank: 55
JHMU Martin Ratio Rank: 56

JDVI

JDVI Risk / Return Rank: 55
JDVI Sharpe Ratio Rank: 58
JDVI Sortino Ratio Rank: 56
JDVI Omega Ratio Rank: 56
JDVI Calmar Ratio Rank: 52
JDVI Martin Ratio Rank: 55

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.

JHMU vs. JDVI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Dynamic Municipal Bond ETF (JHMU) and John Hancock Disciplined Value International Select ETF (JDVI). 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	JDVI	Difference
Sharpe ratio: Return per unit of total volatility	2.64	1.93	+0.71
Sortino ratio: Return per unit of downside risk	3.90	2.62	+1.28
Omega ratio: Gain probability vs. loss probability	1.56	1.34	+0.21
Calmar ratio: Return relative to maximum drawdown	2.69	2.52	+0.16
Martin ratio: Return relative to average drawdown	9.63	9.54	+0.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JHMU vs. JDVI - Sharpe Ratio Comparison

The current JHMU Sharpe Ratio is 2.64, which is higher than the JDVI Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of JHMU and JDVI, 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

	JHMU	JDVI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.64	1.93	+0.71
Sharpe Ratio (All Time) Calculated using the full available price history	1.76	1.42	+0.34

Drawdowns

JHMU vs. JDVI - Drawdown Comparison

The maximum JHMU drawdown since its inception was -4.48%, smaller than the maximum JDVI drawdown of -14.97%. Use the drawdown chart below to compare losses from any high point for JHMU and JDVI.

Drawdown Indicators

	JHMU	JDVI	Difference
Max Drawdown Largest peak-to-trough decline	-4.48%	-14.97%	+10.49%
Max Drawdown (1Y) Largest decline over 1 year	-2.77%	-12.50%	+9.73%
Current Drawdown Current decline from peak	-0.43%	-0.00%	-0.43%
Average Drawdown Average peak-to-trough decline	-0.84%	-2.79%	+1.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.77%	3.30%	-2.53%

Volatility

JHMU vs. JDVI - Volatility Comparison

The current volatility for John Hancock Dynamic Municipal Bond ETF (JHMU) is 0.97%, while John Hancock Disciplined Value International Select ETF (JDVI) has a volatility of 5.70%. This indicates that JHMU experiences smaller price fluctuations and is considered to be less risky than JDVI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JHMU	JDVI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.97%	5.70%	-4.73%
Volatility (6M) Calculated over the trailing 6-month period	2.21%	13.99%	-11.78%
Volatility (1Y) Calculated over the trailing 1-year period	2.82%	16.39%	-13.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.11%	16.41%	-12.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.11%	16.41%	-12.30%

JHMU vs. JDVI - Expense Ratio Comparison

JHMU has a 0.39% expense ratio, which is lower than JDVI's 0.69% expense ratio.

Dividends

JHMU vs. JDVI - Dividend Comparison

JHMU's dividend yield for the trailing twelve months is around 3.72%, more than JDVI's 2.14% yield.

Position	TTM	2025	2024	2023
JDVI John Hancock Disciplined Value International Select ETF	2.14%	2.43%	1.87%	0.00%
JHMU John Hancock Dynamic Municipal Bond ETF	3.72%	4.36%	7.29%	0.63%

Frequently Asked Questions

Can I hold both JHMU and JDVI in my portfolio?

JHMU and JDVI have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JHMU or JDVI?

JDVI has higher volatility (5.70%) compared to JHMU (0.97%). In terms of maximum drawdown, JHMU dropped -4.48% vs JDVI's -14.97%.

Which ETF is better, JHMU or JDVI?

On 1-year performance, JDVI leads with 31.39% vs 7.41% for JHMU. On fees, JHMU is cheaper at 0.39% per year. On volatility, JHMU has been the lower-risk option at 0.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JHMU or JDVI?

Over the 1-year period, JDVI has performed better with a 31.39% return vs 7.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JHMU or JDVI?

JHMU is cheaper with a 0.39% expense ratio, compared with 0.69% for JDVI.

Which ETF pays a higher dividend yield, JHMU or JDVI?

JHMU has the higher dividend yield at 3.72%, compared with 2.14% for JDVI.

What is the main difference between JHMU and JDVI?

JHMU is categorized as Municipal Bonds, while JDVI is Foreign Large Cap Equities. Their fees differ too: 0.39% for JHMU and 0.69% for JDVI.

Which has better risk-adjusted returns?

JHMU currently has the higher Sharpe Ratio (2.64 vs 1.93), 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.