JHTFX vs. DHMBX
JHTFX (John Hancock High Yield Municipal Bond Fund) and DHMBX (BNY Mellon High Yield Municipal Bond Fund) are both High Yield Muni funds. Over the past 10 years, JHTFX returned 2.30%/yr vs 2.30%/yr for DHMBX. Their correlation of 0.82 suggests significant overlap in exposure. JHTFX charges 0.85%/yr vs 0.69%/yr for DHMBX.
Performance
JHTFX vs. DHMBX - Performance Comparison
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Returns By Period
In the year-to-date period, JHTFX achieves a 3.06% return, which is significantly lower than DHMBX's 3.23% return. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: JHTFX at 2.30% and DHMBX at 2.30%.
JHTFX
- 1D
- -0.15%
- 1M
- 2.38%
- YTD
- 3.06%
- 6M
- 3.80%
- 1Y
- 7.31%
- 3Y*
- 5.15%
- 5Y*
- 0.37%
- 10Y*
- 2.30%
DHMBX
- 1D
- -0.09%
- 1M
- 1.97%
- YTD
- 3.23%
- 6M
- 3.79%
- 1Y
- 8.63%
- 3Y*
- 4.44%
- 5Y*
- -0.29%
- 10Y*
- 2.30%
JHTFX vs. DHMBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JHTFX John Hancock High Yield Municipal Bond Fund | 3.06% | 3.07% | 6.57% | 6.84% | -16.77% | 5.69% | 4.65% | 9.50% | 0.61% | 6.83% |
DHMBX BNY Mellon High Yield Municipal Bond Fund | 3.23% | 2.64% | 4.41% | 6.50% | -17.25% | 5.58% | 2.85% | 10.76% | 1.64% | 12.78% |
Correlation
The correlation between JHTFX and DHMBX is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2005 | 0.82 |
The correlation between JHTFX and DHMBX has been stable across timeframes, ranging from 0.82 to 0.90 - a consistent structural relationship.
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Return for Risk
JHTFX vs. DHMBX — Risk / Return Rank
JHTFX
DHMBX
JHTFX vs. DHMBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for John Hancock High Yield Municipal Bond Fund (JHTFX) and BNY Mellon High Yield Municipal Bond Fund (DHMBX). 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.
| JHTFX | DHMBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.39 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.52 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.34 | 2.64 | -0.29 |
| Martin ratioReturn relative to average drawdown | 7.53 | 8.63 | -1.10 |
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Drawdowns
JHTFX vs. DHMBX - Drawdown Comparison
The maximum JHTFX drawdown since its inception was -22.40%, smaller than the maximum DHMBX drawdown of -27.66%. Use the drawdown chart below to compare losses from any high point for JHTFX and DHMBX.
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Drawdown Indicators
| JHTFX | DHMBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.40% | -27.66% | +5.26% |
Max Drawdown (1Y)Largest decline over 1 year | -3.20% | -3.33% | +0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -9.09% | -9.55% | +0.46% |
Max Drawdown (5Y)Largest decline over 5 years | -22.40% | -22.90% | +0.50% |
Max Drawdown (10Y)Largest decline over 10 years | -22.40% | -22.90% | +0.50% |
Current DrawdownCurrent decline from peak | -0.15% | -2.90% | +2.75% |
Average DrawdownAverage peak-to-trough decline | -2.90% | -4.87% | +1.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.99% | 1.01% | -0.02% |
Volatility
JHTFX vs. DHMBX - Volatility Comparison
John Hancock High Yield Municipal Bond Fund (JHTFX) and BNY Mellon High Yield Municipal Bond Fund (DHMBX) have volatilities of 1.04% and 1.02%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JHTFX | DHMBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.04% | 1.02% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 2.86% | 2.79% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.92% | 3.80% | +0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.89% | 6.16% | -0.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.58% | 6.06% | -0.48% |
JHTFX vs. DHMBX - Expense Ratio Comparison
JHTFX has a 0.85% expense ratio, which is higher than DHMBX's 0.69% expense ratio.
Dividends
JHTFX vs. DHMBX - Dividend Comparison
JHTFX's dividend yield for the trailing twelve months is around 5.05%, more than DHMBX's 4.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DHMBX BNY Mellon High Yield Municipal Bond Fund | 4.00% | 5.37% | 3.96% | 3.13% | 3.09% | 2.47% | 3.46% | 4.19% | 4.13% | 3.66% | 4.95% | 4.50% |
JHTFX John Hancock High Yield Municipal Bond Fund | 5.05% | 6.24% | 4.03% | 3.29% | 3.48% | 3.44% | 3.76% | 6.05% | 4.45% | 4.55% | 4.43% | 4.67% |
Frequently Asked Questions
JHTFX and DHMBX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JHTFX has higher volatility (1.04%) compared to DHMBX (1.02%). In terms of maximum drawdown, JHTFX dropped -22.40% vs DHMBX's -27.66%.
DHMBX currently has the higher Sharpe Ratio (2.31 vs 1.92), 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.
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