JHSC vs. MMSC

Last updated Jun 4, 2026

JHSC (John Hancock Multifactor Small Cap ETF) and MMSC (First Trust Multi-Manager Small Cap Opportunities ETF) are both Small Cap Growth Equities funds. JHSC is passively managed, while MMSC is actively managed. Over the past 3 years, JHSC returned 14.51%/yr vs 22.52%/yr for MMSC. Their correlation of 0.89 suggests significant overlap in exposure. JHSC charges 0.42%/yr vs 0.95%/yr for MMSC.

Performance

JHSC vs. MMSC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Multifactor Small Cap ETF (JHSC) and First Trust Multi-Manager Small Cap Opportunities ETF (MMSC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JHSC achieves a 11.55% return, which is significantly lower than MMSC's 17.91% return.

JHSC

• 1D: -0.76%
• 1M: 2.04%
• YTD: 11.55%
• 6M: 10.59%
• 1Y: 24.10%
• 3Y*: 14.51%
• 5Y*: 7.04%
• 10Y*: —

MMSC

• 1D: -0.56%
• 1M: 5.15%
• YTD: 17.91%
• 6M: 17.19%
• 1Y: 42.14%
• 3Y*: 22.52%
• 5Y*: —
• 10Y*: —

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

JHSC vs. MMSC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
JHSC John Hancock Multifactor Small Cap ETF	11.55%	6.88%	9.74%	20.77%	-14.65%	2.09%
MMSC First Trust Multi-Manager Small Cap Opportunities ETF	17.91%	15.45%	22.19%	18.76%	-30.98%	1.01%

Correlation

The correlation between JHSC and MMSC is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (All Time) Calculated using the full available price history since Oct 15, 2021	0.89

The correlation between JHSC and MMSC has been stable across timeframes, ranging from 0.80 to 0.89 - a consistent structural relationship.

JHSC vs. MMSC - Sectors Allocation Comparison

Sectors	JHSC	MMSC
Financial Services	18.3%	8.1%
Industrials	16.8%	27.4%
Technology	14.1%	23.4%
Consumer Cyclical	14.1%	7.2%
Energy	7.5%	6.7%
Healthcare	7.4%	22.2%
Real Estate	6.0%	0.2%
Basic Materials	5.1%	2.5%
Utilities	4.2%	0.7%
Consumer Defensive	3.4%	1.4%
Communication Services	3.0%	0.5%

Return for Risk

JHSC vs. MMSC — Risk / Return Rank

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

JHSC

JHSC Risk / Return Rank: 46
JHSC Sharpe Ratio Rank: 42
JHSC Sortino Ratio Rank: 45
JHSC Omega Ratio Rank: 40
JHSC Calmar Ratio Rank: 51
JHSC Martin Ratio Rank: 52

MMSC

MMSC Risk / Return Rank: 57
MMSC Sharpe Ratio Rank: 56
MMSC Sortino Ratio Rank: 53
MMSC Omega Ratio Rank: 51
MMSC Calmar Ratio Rank: 61
MMSC Martin Ratio Rank: 64

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.

JHSC vs. MMSC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Multifactor Small Cap ETF (JHSC) and First Trust Multi-Manager Small Cap Opportunities ETF (MMSC). 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.

	JHSC	MMSC	Difference
Sharpe ratio: Return per unit of total volatility	1.49	1.90	-0.40
Sortino ratio: Return per unit of downside risk	2.22	2.56	-0.34
Omega ratio: Gain probability vs. loss probability	1.26	1.32	-0.06
Calmar ratio: Return relative to maximum drawdown	2.51	3.00	-0.49
Martin ratio: Return relative to average drawdown	8.69	11.46	-2.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JHSC vs. MMSC - Sharpe Ratio Comparison

The current JHSC Sharpe Ratio is 1.49, which is comparable to the MMSC Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of JHSC and MMSC, 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

	JHSC	MMSC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.49	1.90	-0.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.29	+0.10

Drawdowns

JHSC vs. MMSC - Drawdown Comparison

The maximum JHSC drawdown since its inception was -42.66%, roughly equal to the maximum MMSC drawdown of -40.82%. Use the drawdown chart below to compare losses from any high point for JHSC and MMSC.

Drawdown Indicators

	JHSC	MMSC	Difference
Max Drawdown Largest peak-to-trough decline	-42.66%	-40.82%	-1.84%
Max Drawdown (1Y) Largest decline over 1 year	-9.63%	-14.10%	+4.47%
Max Drawdown (3Y) Largest decline over 3 years	-25.16%	-29.76%	+4.60%
Max Drawdown (5Y) Largest decline over 5 years	-25.21%	—	—
Current Drawdown Current decline from peak	-0.80%	-0.70%	-0.10%
Average Drawdown Average peak-to-trough decline	-7.78%	-18.78%	+11.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.78%	3.69%	-0.91%

Volatility

JHSC vs. MMSC - Volatility Comparison

The current volatility for John Hancock Multifactor Small Cap ETF (JHSC) is 4.16%, while First Trust Multi-Manager Small Cap Opportunities ETF (MMSC) has a volatility of 6.69%. This indicates that JHSC experiences smaller price fluctuations and is considered to be less risky than MMSC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JHSC	MMSC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.16%	6.69%	-2.53%
Volatility (6M) Calculated over the trailing 6-month period	11.11%	17.11%	-6.00%
Volatility (1Y) Calculated over the trailing 1-year period	16.27%	22.35%	-6.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.15%	24.46%	-4.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.21%	24.46%	-2.25%

JHSC vs. MMSC - Expense Ratio Comparison

JHSC has a 0.42% expense ratio, which is lower than MMSC's 0.95% expense ratio.

Dividends

JHSC vs. MMSC - Dividend Comparison

JHSC's dividend yield for the trailing twelve months is around 1.01%, while MMSC has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
JHSC John Hancock Multifactor Small Cap ETF	1.01%	1.13%	0.96%	0.98%	1.13%	1.08%	1.12%	1.14%	1.09%
MMSC First Trust Multi-Manager Small Cap Opportunities ETF	0.00%	0.00%	0.41%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JHSC and MMSC in my portfolio?

JHSC and MMSC have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JHSC or MMSC?

MMSC has higher volatility (6.69%) compared to JHSC (4.16%). In terms of maximum drawdown, JHSC dropped -42.66% vs MMSC's -40.82%.

Which ETF is better, JHSC or MMSC?

On 3-year performance, MMSC leads with 22.52% vs 14.51% for JHSC. On fees, JHSC is cheaper at 0.42% per year. On volatility, JHSC has been the lower-risk option at 4.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JHSC or MMSC?

Over the 3-year period, MMSC has performed better with a 22.52% return vs 14.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JHSC or MMSC?

JHSC is cheaper with a 0.42% expense ratio, compared with 0.95% for MMSC.

Which ETF pays a higher dividend yield, JHSC or MMSC?

JHSC has the higher dividend yield at 1.01%, compared with 0.00% for MMSC.

What is the main difference between JHSC and MMSC?

They also come from different issuers: Manulife and First Trust. Their fees differ too: 0.42% for JHSC and 0.95% for MMSC.

Which has better risk-adjusted returns?

MMSC currently has the higher Sharpe Ratio (1.90 vs 1.49), 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.