JHMU vs. JDVL

Last updated Aug 5, 2026

JHMU (John Hancock Dynamic Municipal Bond ETF) and JDVL (John Hancock Disciplined Value Select ETF) are both exchange-traded funds - JHMU is a Municipal Bonds fund tracking the John Hancock Dimensional Utilities Index, while JDVL is a Large Cap Value Equities fund actively managed by John Hancock. JHMU is passively managed, while JDVL is actively managed. Their 0.29 correlation means their historical movements had little consistent relationship. JHMU charges 0.39%/yr vs 0.56%/yr for JDVL.

Performance

JHMU vs. JDVL - 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 Select ETF (JDVL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JHMU achieves a 0.98% return, which is significantly lower than JDVL's 18.99% return.

JHMU

• 1D: 0.08%
• 1M: -1.35%
• 6M: -0.16%
• YTD: 0.98%
• 1Y: 5.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.38%

JDVL

• 1D: 1.04%
• 1M: 1.68%
• 6M: 11.15%
• YTD: 18.99%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
JDVL John Hancock Disciplined Value Select ETF	$1.66M	$2.80M	$2.28M
JHMU John Hancock Dynamic Municipal Bond ETF	$409.05K	$235.24K	$143.41K

JHMU vs. JDVL - Yearly Performance Comparison

	2026 (YTD)	2025
JHMU John Hancock Dynamic Municipal Bond ETF	0.98%	4.24%
JDVL John Hancock Disciplined Value Select ETF	18.99%	10.04%

Correlation

The correlation between JHMU and JDVL is 0.29, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 6, 2025	0.29

Return for Risk

JHMU vs. JDVL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

JHMU

JHMU Risk / Return Rank: 64
JHMU Sharpe Ratio Rank: 72
JHMU Sortino Ratio Rank: 73
JHMU Omega Ratio Rank: 78
JHMU Calmar Ratio Rank: 48
JHMU Martin Ratio Rank: 49

JDVL

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

JHMU vs. JDVL - 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 Select ETF (JDVL). 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.

	JHMU	JDVL	Difference
Sharpe ratio: Return per unit of total volatility	1.86	—	—
Sortino ratio: Return per unit of downside risk	2.66	—	—
Omega ratio: Gain probability vs. loss probability	1.36	—	—
Calmar ratio: Return relative to maximum drawdown	1.94	—	—
Martin ratio: Return relative to average drawdown	6.36	—	—

Drawdowns

JHMU vs. JDVL - Drawdown Comparison

The maximum JHMU drawdown since its inception was -4.48%, smaller than the maximum JDVL drawdown of -9.17%. Use the drawdown chart below to compare losses from any high point for JHMU and JDVL.

Drawdown Indicators

	JHMU	JDVL	Difference
Max Drawdown Largest peak-to-trough decline	-4.48%	-9.17%	+4.69%
Max Drawdown (1Y) Largest decline over 1 year	-2.77%	—	—
Current Drawdown Current decline from peak	-1.50%	0.00%	-1.50%
Average Drawdown Average peak-to-trough decline	-0.83%	-1.24%	+0.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.84%	—	—

Volatility

Volatility by Period

	JHMU	JDVL	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.92%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.31%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.89%	14.14%	-11.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.05%	14.14%	-10.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.05%	14.14%	-10.09%

JHMU vs. JDVL - Expense Ratio Comparison

JHMU has a 0.39% expense ratio, which is lower than JDVL's 0.56% expense ratio.

Dividends

JHMU vs. JDVL - Dividend Comparison

JHMU's dividend yield for the trailing twelve months is around 3.85%, more than JDVL's 1.44% yield.

Position	TTM	2025	2024	2023
JDVL John Hancock Disciplined Value Select ETF	1.44%	1.71%	0.00%	0.00%
JHMU John Hancock Dynamic Municipal Bond ETF	3.85%	4.36%	7.29%	0.63%

Frequently Asked Questions

Can I hold both JHMU and JDVL in my portfolio?

JHMU and JDVL have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JHMU or JDVL?

On fees, JHMU is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JHMU or JDVL?

JHMU is cheaper with a 0.39% expense ratio, compared with 0.56% for JDVL.

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

JHMU has the higher dividend yield at 3.85%, compared with 1.44% for JDVL.

What is the main difference between JHMU and JDVL?

JHMU is categorized as Municipal Bonds, while JDVL is Large Cap Value Equities. Their fees differ too: 0.39% for JHMU and 0.56% for JDVL.