JHTFX vs. JHNBX

Last updated Jun 5, 2026

JHTFX (John Hancock High Yield Municipal Bond Fund) and JHNBX (John Hancock Bond Fund) are both mutual funds - JHTFX is a High Yield Muni fund managed by John Hancock, while JHNBX is a Intermediate Core-Plus Bond fund managed by John Hancock. Over the past 10 years, JHTFX returned 2.39%/yr vs 2.19%/yr for JHNBX. A 0.57 correlation means they provide meaningful diversification when combined. JHTFX charges 0.85%/yr vs 0.76%/yr for JHNBX.

Performance

JHTFX vs. JHNBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock High Yield Municipal Bond Fund (JHTFX) and John Hancock Bond Fund (JHNBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JHTFX achieves a 2.76% return, which is significantly higher than JHNBX's 0.17% return. Over the past 10 years, JHTFX has outperformed JHNBX with an annualized return of 2.39%, while JHNBX has yielded a comparatively lower 2.19% annualized return.

JHTFX

• 1D: 0.00%
• 1M: 1.02%
• YTD: 2.76%
• 6M: 3.19%
• 1Y: 7.00%
• 3Y*: 5.41%
• 5Y*: 0.38%
• 10Y*: 2.39%

JHNBX

• 1D: -0.22%
• 1M: 0.13%
• YTD: 0.17%
• 6M: 0.47%
• 1Y: 5.08%
• 3Y*: 4.43%
• 5Y*: -0.01%
• 10Y*: 2.19%

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

JHTFX vs. JHNBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JHTFX John Hancock High Yield Municipal Bond Fund	2.76%	3.07%	6.57%	6.84%	-16.77%	5.69%	4.65%	9.50%	0.61%	6.83%
JHNBX John Hancock Bond Fund	0.17%	7.53%	1.97%	6.24%	-15.22%	-0.68%	10.31%	10.09%	-1.15%	4.94%

Correlation

The correlation between JHTFX and JHNBX is 0.61, 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	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (10Y) Calculated over the trailing 10-year period	0.54
Correlation (All Time) Calculated using the full available price history since Jan 3, 1994	0.57

The correlation between JHTFX and JHNBX shifts across timeframes, from 0.54 (10 years) to 0.65 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

JHTFX vs. JHNBX — Risk / Return Rank

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

JHTFX

JHTFX Risk / Return Rank: 46
JHTFX Sharpe Ratio Rank: 43
JHTFX Sortino Ratio Rank: 54
JHTFX Omega Ratio Rank: 59
JHTFX Calmar Ratio Rank: 39
JHTFX Martin Ratio Rank: 34

JHNBX

JHNBX Risk / Return Rank: 24
JHNBX Sharpe Ratio Rank: 25
JHNBX Sortino Ratio Rank: 27
JHNBX Omega Ratio Rank: 23
JHNBX Calmar Ratio Rank: 23
JHNBX Martin Ratio Rank: 21

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.

JHTFX vs. JHNBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock High Yield Municipal Bond Fund (JHTFX) and John Hancock Bond Fund (JHNBX). 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.

	JHTFX	JHNBX	Difference
Sharpe ratio: Return per unit of total volatility	1.87	1.44	+0.43
Sortino ratio: Return per unit of downside risk	3.01	2.14	+0.87
Omega ratio: Gain probability vs. loss probability	1.41	1.25	+0.16
Calmar ratio: Return relative to maximum drawdown	2.29	1.77	+0.53
Martin ratio: Return relative to average drawdown	7.35	5.40	+1.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JHTFX vs. JHNBX - Sharpe Ratio Comparison

The current JHTFX Sharpe Ratio is 1.87, which is comparable to the JHNBX Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of JHTFX and JHNBX, 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

	JHTFX	JHNBX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.87	1.44	+0.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.07	-0.00	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.43	0.45	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.95	0.75	+0.19

Drawdowns

JHTFX vs. JHNBX - Drawdown Comparison

The maximum JHTFX drawdown since its inception was -22.40%, smaller than the maximum JHNBX drawdown of -24.74%. Use the drawdown chart below to compare losses from any high point for JHTFX and JHNBX.

Drawdown Indicators

	JHTFX	JHNBX	Difference
Max Drawdown Largest peak-to-trough decline	-22.40%	-24.74%	+2.34%
Max Drawdown (1Y) Largest decline over 1 year	-3.20%	-3.25%	+0.05%
Max Drawdown (3Y) Largest decline over 3 years	-9.09%	-6.69%	-2.40%
Max Drawdown (5Y) Largest decline over 5 years	-22.40%	-20.13%	-2.27%
Max Drawdown (10Y) Largest decline over 10 years	-22.40%	-20.13%	-2.27%
Current Drawdown Current decline from peak	0.00%	-2.21%	+2.21%
Average Drawdown Average peak-to-trough decline	-2.90%	-4.15%	+1.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.00%	1.06%	-0.06%

Volatility

JHTFX vs. JHNBX - Volatility Comparison

John Hancock High Yield Municipal Bond Fund (JHTFX) and John Hancock Bond Fund (JHNBX) have volatilities of 1.44% and 1.38%, 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.

Volatility by Period

	JHTFX	JHNBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.44%	1.38%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	2.85%	2.91%	-0.06%
Volatility (1Y) Calculated over the trailing 1-year period	3.94%	3.99%	-0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.89%	5.87%	+0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.58%	4.91%	+0.67%

JHTFX vs. JHNBX - Expense Ratio Comparison

JHTFX has a 0.85% expense ratio, which is higher than JHNBX's 0.76% expense ratio.

Dividends

JHTFX vs. JHNBX - Dividend Comparison

JHTFX's dividend yield for the trailing twelve months is around 5.07%, more than JHNBX's 4.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JHNBX John Hancock Bond Fund	4.48%	4.41%	4.14%	3.80%	2.93%	3.30%	5.50%	3.75%	3.51%	3.23%	3.19%	3.48%
JHTFX John Hancock High Yield Municipal Bond Fund	5.07%	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

Can I hold both JHTFX and JHNBX in my portfolio?

JHTFX and JHNBX have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JHTFX or JHNBX?

JHTFX has higher volatility (1.44%) compared to JHNBX (1.38%). In terms of maximum drawdown, JHTFX dropped -22.40% vs JHNBX's -24.74%.

Which has better risk-adjusted returns?

JHTFX currently has the higher Sharpe Ratio (1.87 vs 1.44), 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.