JHMU vs. JHLN

Last updated Jun 25, 2026

JHMU (John Hancock Dynamic Municipal Bond ETF) and JHLN (John Hancock Global Senior Loan ETF) are both exchange-traded funds - JHMU is a Municipal Bonds fund tracking the John Hancock Dimensional Utilities Index, while JHLN is a Bank Loan fund actively managed by John Hancock. JHMU is passively managed, while JHLN is actively managed. At a 0.00 correlation, their price movements are largely independent. JHMU charges 0.39%/yr vs 0.59%/yr for JHLN.

Performance

JHMU vs. JHLN - 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 Global Senior Loan ETF (JHLN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JHMU achieves a 2.14% return, which is significantly higher than JHLN's 0.62% return.

JHMU

• 1D: 0.15%
• 1M: 1.47%
• YTD: 2.14%
• 6M: 2.23%
• 1Y: 7.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JHLN

• 1D: -0.08%
• 1M: 0.13%
• YTD: 0.62%
• 6M: 0.74%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JHMU vs. JHLN - Yearly Performance Comparison

	2026 (YTD)	2025
JHMU John Hancock Dynamic Municipal Bond ETF	2.14%	4.33%
JHLN John Hancock Global Senior Loan ETF	0.62%	1.55%

Correlation

The correlation between JHMU and JHLN is 0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 20, 2025	0.00

Return for Risk

JHMU vs. JHLN — Risk / Return Rank

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

JHMU

JHMU Risk / Return Rank: 77
JHMU Sharpe Ratio Rank: 87
JHMU Sortino Ratio Rank: 91
JHMU Omega Ratio Rank: 91
JHMU Calmar Ratio Rank: 59
JHMU Martin Ratio Rank: 58

JHLN

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

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. JHLN - 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 Global Senior Loan ETF (JHLN). 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	JHLN	Difference
Sharpe ratio: Return per unit of total volatility	2.50	—	—
Sortino ratio: Return per unit of downside risk	3.72	—	—
Omega ratio: Gain probability vs. loss probability	1.53	—	—
Calmar ratio: Return relative to maximum drawdown	2.56	—	—
Martin ratio: Return relative to average drawdown	9.10	—	—

Drawdowns

JHMU vs. JHLN - Drawdown Comparison

The maximum JHMU drawdown since its inception was -4.48%, which is greater than JHLN's maximum drawdown of -1.46%. Use the drawdown chart below to compare losses from any high point for JHMU and JHLN.

Drawdown Indicators

	JHMU	JHLN	Difference
Max Drawdown Largest peak-to-trough decline	-4.48%	-1.46%	-3.02%
Max Drawdown (1Y) Largest decline over 1 year	-2.77%	—	—
Current Drawdown Current decline from peak	-0.13%	-0.18%	+0.05%
Average Drawdown Average peak-to-trough decline	-0.83%	-0.31%	-0.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.78%	—	—

Volatility

Volatility by Period

	JHMU	JHLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.82%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.28%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.84%	2.62%	+0.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.09%	2.62%	+1.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.09%	2.62%	+1.47%

JHMU vs. JHLN - Expense Ratio Comparison

JHMU has a 0.39% expense ratio, which is lower than JHLN's 0.59% expense ratio.

Dividends

JHMU vs. JHLN - Dividend Comparison

JHMU's dividend yield for the trailing twelve months is around 3.71%, less than JHLN's 3.86% yield.

Position	TTM	2025	2024	2023
JHLN John Hancock Global Senior Loan ETF	3.86%	1.88%	0.00%	0.00%
JHMU John Hancock Dynamic Municipal Bond ETF	3.71%	4.36%	7.29%	0.63%

Frequently Asked Questions

Can I hold both JHMU and JHLN in my portfolio?

JHMU and JHLN have a correlation of 0.00, 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 JHLN?

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 JHLN?

JHMU is cheaper with a 0.39% expense ratio, compared with 0.59% for JHLN.

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

JHLN has the higher dividend yield at 3.86%, compared with 3.71% for JHMU.

What is the main difference between JHMU and JHLN?

JHMU is categorized as Municipal Bonds, while JHLN is Bank Loan. Their fees differ too: 0.39% for JHMU and 0.59% for JHLN.