JHTFX vs. RWMIX
JHTFX (John Hancock High Yield Municipal Bond Fund) and RWMIX (Redwood Managed Municipal Income Fund) are both High Yield Muni funds. Over the past 5 years, JHTFX returned -0.17%/yr vs -1.68%/yr for RWMIX. Their 0.57 correlation means they have sometimes moved together and sometimes differently. JHTFX charges 0.85%/yr vs 1.00%/yr for RWMIX.
Performance
JHTFX vs. RWMIX - Performance Comparison
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Returns By Period
In the year-to-date period, JHTFX achieves a 1.68% return, which is significantly higher than RWMIX's -1.16% return.
JHTFX
- 1D
- -0.15%
- 1M
- -2.47%
- 6M
- 0.95%
- YTD
- 1.68%
- 1Y
- 6.39%
- 3Y*
- 4.63%
- 5Y*
- -0.17%
- 10Y*
- 2.13%
- ALL TIME*
- 3.94%
RWMIX
- 1D
- -0.16%
- 1M
- -1.86%
- 6M
- -1.77%
- YTD
- -1.16%
- 1Y
- 1.36%
- 3Y*
- 1.35%
- 5Y*
- -1.68%
- 10Y*
- —
- ALL TIME*
- 1.12%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
JHTFX vs. RWMIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JHTFX John Hancock High Yield Municipal Bond Fund | 1.68% | 3.07% | 6.57% | 6.84% | -16.77% | 5.69% | 4.65% | 9.50% | 0.61% | 3.43% |
RWMIX Redwood Managed Municipal Income Fund | -1.16% | -2.18% | 2.69% | 3.77% | -9.56% | 4.28% | 0.13% | 10.09% | 0.30% | 3.08% |
Correlation
The correlation between JHTFX and RWMIX is 0.68, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.68 |
Correlation (3Y) Balances recent behavior with more history. | 0.58 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.57 |
Correlation (All Time) Calculated using the full available price history since Jun 12, 2017 | 0.57 |
The correlation between JHTFX and RWMIX shifts across timeframes, from 0.57 (all time) to 0.68 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
JHTFX vs. RWMIX — Risk / Return Rank
JHTFX
RWMIX
JHTFX vs. RWMIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for John Hancock High Yield Municipal Bond Fund (JHTFX) and Redwood Managed Municipal Income Fund (RWMIX). 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 | RWMIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.17 | ||
| Sortino ratioReturn per unit of downside risk | +1.96 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.13 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 2.16 | 0.46 | +1.70 |
| Martin ratioReturn relative to average drawdown | 7.74 | 1.11 | +6.63 |
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Drawdowns
JHTFX vs. RWMIX - Drawdown Comparison
The maximum JHTFX drawdown since its inception was -22.40%, which is greater than RWMIX's maximum drawdown of -12.90%. Use the drawdown chart below to compare losses from any high point for JHTFX and RWMIX.
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Drawdown Indicators
| JHTFX | RWMIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.40% | -12.90% | -9.50% |
Max Drawdown (1Y)Largest decline over 1 year | -3.20% | -3.03% | -0.17% |
Max Drawdown (3Y)Largest decline over 3 years | -8.21% | -8.09% | -0.12% |
Max Drawdown (5Y)Largest decline over 5 years | -22.40% | -12.90% | -9.50% |
Max Drawdown (10Y)Largest decline over 10 years | -22.40% | — | — |
Current DrawdownCurrent decline from peak | -2.47% | -8.19% | +5.72% |
Average DrawdownAverage peak-to-trough decline | -2.89% | -4.74% | +1.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 1.24% | -0.35% |
Volatility
JHTFX vs. RWMIX - Volatility Comparison
John Hancock High Yield Municipal Bond Fund (JHTFX) has a higher volatility of 1.23% compared to Redwood Managed Municipal Income Fund (RWMIX) at 0.94%. This indicates that JHTFX's price experiences larger fluctuations and is considered to be riskier than RWMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JHTFX | RWMIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.23% | 0.94% | +0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 3.10% | 1.89% | +1.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.95% | 2.28% | +1.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.92% | 3.95% | +1.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.59% | 3.51% | +2.08% |
JHTFX vs. RWMIX - Expense Ratio Comparison
JHTFX has a 0.85% expense ratio, which is lower than RWMIX's 1.00% expense ratio.
Dividends
JHTFX vs. RWMIX - Dividend Comparison
JHTFX's dividend yield for the trailing twelve months is around 4.72%, more than RWMIX's 4.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JHTFX John Hancock High Yield Municipal Bond Fund | 4.72% | 6.24% | 4.03% | 3.29% | 3.48% | 3.44% | 3.76% | 6.05% | 4.45% | 4.55% | 4.43% | 4.67% |
RWMIX Redwood Managed Municipal Income Fund | 4.03% | 2.67% | 4.08% | 2.80% | 1.02% | 6.80% | 2.16% | 3.36% | 2.13% | 2.06% | 0.00% | 0.00% |
Frequently Asked Questions
JHTFX and RWMIX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JHTFX has higher volatility (1.23%) compared to RWMIX (0.94%). In terms of maximum drawdown, JHTFX dropped -22.40% vs RWMIX's -12.90%.
JHTFX currently has the higher Sharpe Ratio (1.78 vs 0.60), 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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