JHMU vs. MINO

Last updated Jun 5, 2026

JHMU (John Hancock Dynamic Municipal Bond ETF) and MINO (PIMCO Municipal Income Opportunities Active Exchange-Traded Fund) are both Municipal Bonds funds. JHMU is passively managed, while MINO is actively managed. Over the past year, JHMU returned 7.41% vs 7.86% for MINO. A 0.70 correlation means they provide meaningful diversification when combined. Both charge a 0.39% expense ratio.

Performance

JHMU vs. MINO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Dynamic Municipal Bond ETF (JHMU) and PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (MINO). 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 MINO's 2.04% return.

JHMU

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

MINO

• 1D: 0.08%
• 1M: 0.64%
• YTD: 2.04%
• 6M: 2.31%
• 1Y: 7.86%
• 3Y*: 4.90%
• 5Y*: —
• 10Y*: —

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

JHMU vs. MINO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JHMU John Hancock Dynamic Municipal Bond ETF	1.83%	5.03%	3.76%	7.77%
MINO PIMCO Municipal Income Opportunities Active Exchange-Traded Fund	2.04%	4.42%	3.13%	7.51%

Correlation

The correlation between JHMU and MINO is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.70
Correlation (All Time) Calculated using the full available price history since Nov 3, 2023	0.70

The correlation between JHMU and MINO has been stable across timeframes, ranging from 0.70 to 0.70 - a consistent structural relationship.

Return for Risk

JHMU vs. MINO — 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

MINO

MINO Risk / Return Rank: 81
MINO Sharpe Ratio Rank: 88
MINO Sortino Ratio Rank: 92
MINO Omega Ratio Rank: 93
MINO Calmar Ratio Rank: 67
MINO Martin Ratio Rank: 65

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. MINO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Dynamic Municipal Bond ETF (JHMU) and PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (MINO). 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	MINO	Difference
Sharpe ratio: Return per unit of total volatility	2.64	2.90	-0.26
Sortino ratio: Return per unit of downside risk	3.90	4.45	-0.54
Omega ratio: Gain probability vs. loss probability	1.56	1.63	-0.07
Calmar ratio: Return relative to maximum drawdown	2.69	3.27	-0.59
Martin ratio: Return relative to average drawdown	9.63	11.74	-2.11
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. MINO - Sharpe Ratio Comparison

The current JHMU Sharpe Ratio is 2.64, which is comparable to the MINO Sharpe Ratio of 2.90. The chart below compares the historical Sharpe Ratios of JHMU and MINO, 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	MINO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.64	2.90	-0.26
Sharpe Ratio (All Time) Calculated using the full available price history	1.76	0.32	+1.44

Drawdowns

JHMU vs. MINO - Drawdown Comparison

The maximum JHMU drawdown since its inception was -4.48%, smaller than the maximum MINO drawdown of -15.24%. Use the drawdown chart below to compare losses from any high point for JHMU and MINO.

Drawdown Indicators

	JHMU	MINO	Difference
Max Drawdown Largest peak-to-trough decline	-4.48%	-15.24%	+10.76%
Max Drawdown (1Y) Largest decline over 1 year	-2.77%	-2.41%	-0.36%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.34%	—
Current Drawdown Current decline from peak	-0.43%	-0.14%	-0.29%
Average Drawdown Average peak-to-trough decline	-0.84%	-4.25%	+3.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.77%	0.67%	+0.10%

Volatility

JHMU vs. MINO - Volatility Comparison

The current volatility for John Hancock Dynamic Municipal Bond ETF (JHMU) is 0.97%, while PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (MINO) has a volatility of 1.04%. This indicates that JHMU experiences smaller price fluctuations and is considered to be less risky than MINO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JHMU	MINO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.97%	1.04%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	2.21%	1.90%	+0.31%
Volatility (1Y) Calculated over the trailing 1-year period	2.82%	2.73%	+0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.11%	4.54%	-0.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.11%	4.54%	-0.43%

JHMU vs. MINO - Expense Ratio Comparison

Both JHMU and MINO have an expense ratio of 0.39%.

Dividends

JHMU vs. MINO - Dividend Comparison

JHMU's dividend yield for the trailing twelve months is around 3.72%, less than MINO's 3.89% yield.

Position	TTM	2025	2024	2023	2022	2021
JHMU John Hancock Dynamic Municipal Bond ETF	3.72%	4.36%	7.29%	0.63%	0.00%	0.00%
MINO PIMCO Municipal Income Opportunities Active Exchange-Traded Fund	3.89%	3.71%	3.91%	3.78%	2.87%	0.29%

Frequently Asked Questions

Can I hold both JHMU and MINO in my portfolio?

JHMU and MINO have a correlation of 0.70, 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 MINO?

MINO has higher volatility (1.04%) compared to JHMU (0.97%). In terms of maximum drawdown, JHMU dropped -4.48% vs MINO's -15.24%.

Which ETF is better, JHMU or MINO?

On 1-year performance, MINO leads with 7.86% vs 7.41% for JHMU. Both ETFs have the same 0.39% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JHMU or MINO?

Over the 1-year period, MINO has performed better with a 7.86% 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 MINO?

JHMU and MINO have the same expense ratio: 0.39% per year.

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

MINO has the higher dividend yield at 3.89%, compared with 3.72% for JHMU.

What is the main difference between JHMU and MINO?

They also come from different issuers: John Hancock and PIMCO.

Which has better risk-adjusted returns?

MINO currently has the higher Sharpe Ratio (2.90 vs 2.64), 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.