JHVTX vs. LZEMX

Last updated Jun 23, 2026

JHVTX (John Hancock Variable Insurance Trust Emerging Markets Value Trust) and LZEMX (Lazard Emerging Markets Equity Portfolio) are both Emerging Markets Diversified funds. Over the past 5 years, JHVTX returned 8.72%/yr vs 13.67%/yr for LZEMX. Their correlation of 0.88 suggests significant overlap in exposure. Both charge a 1.06% expense ratio.

Performance

JHVTX vs. LZEMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Variable Insurance Trust Emerging Markets Value Trust (JHVTX) and Lazard Emerging Markets Equity Portfolio (LZEMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JHVTX achieves a 18.61% return, which is significantly lower than LZEMX's 25.35% return.

JHVTX

• 1D: 1.32%
• 1M: 2.04%
• YTD: 18.61%
• 6M: 19.49%
• 1Y: 40.97%
• 3Y*: 16.89%
• 5Y*: 8.72%
• 10Y*: —

LZEMX

• 1D: 0.55%
• 1M: 3.56%
• YTD: 25.35%
• 6M: 27.30%
• 1Y: 52.07%
• 3Y*: 26.40%
• 5Y*: 13.67%
• 10Y*: 10.90%

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

JHVTX vs. LZEMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JHVTX John Hancock Variable Insurance Trust Emerging Markets Value Trust	18.61%	32.01%	-2.45%	15.17%	-11.61%	11.24%	3.70%	10.85%	-13.50%	22.38%
LZEMX Lazard Emerging Markets Equity Portfolio	25.35%	41.35%	7.60%	22.44%	-14.86%	5.37%	-0.07%	18.06%	-18.11%	21.99%

Correlation

The correlation between JHVTX and LZEMX is 0.77, 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	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Feb 1, 2017	0.88

The correlation between JHVTX and LZEMX shifts across timeframes, from 0.77 (1 year) to 0.88 (all time), reflecting how their relationship changes across market environments.

Return for Risk

JHVTX vs. LZEMX — Risk / Return Rank

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

JHVTX

JHVTX Risk / Return Rank: 86
JHVTX Sharpe Ratio Rank: 92
JHVTX Sortino Ratio Rank: 82
JHVTX Omega Ratio Rank: 84
JHVTX Calmar Ratio Rank: 89
JHVTX Martin Ratio Rank: 83

LZEMX

LZEMX Risk / Return Rank: 94
LZEMX Sharpe Ratio Rank: 98
LZEMX Sortino Ratio Rank: 95
LZEMX Omega Ratio Rank: 93
LZEMX Calmar Ratio Rank: 93
LZEMX Martin Ratio Rank: 92

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.

JHVTX vs. LZEMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Variable Insurance Trust Emerging Markets Value Trust (JHVTX) and Lazard Emerging Markets Equity Portfolio (LZEMX). 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.

	JHVTX	LZEMX	Difference
Sharpe ratio: Return per unit of total volatility	2.84	3.66	-0.82
Sortino ratio: Return per unit of downside risk	3.58	4.68	-1.10
Omega ratio: Gain probability vs. loss probability	1.52	1.67	-0.15
Calmar ratio: Return relative to maximum drawdown	4.16	4.94	-0.78
Martin ratio: Return relative to average drawdown	14.40	17.74	-3.34

JHVTX vs. LZEMX - Sharpe Ratio Comparison

The current JHVTX Sharpe Ratio is 2.84, which is comparable to the LZEMX Sharpe Ratio of 3.66. The chart below compares the historical Sharpe Ratios of JHVTX and LZEMX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JHVTX vs. LZEMX - Drawdown Comparison

The maximum JHVTX drawdown since its inception was -48.10%, smaller than the maximum LZEMX drawdown of -60.08%. Use the drawdown chart below to compare losses from any high point for JHVTX and LZEMX.

Drawdown Indicators

	JHVTX	LZEMX	Difference
Max Drawdown Largest peak-to-trough decline	-48.10%	-60.08%	+11.98%
Max Drawdown (1Y) Largest decline over 1 year	-11.27%	-10.42%	-0.85%
Max Drawdown (3Y) Largest decline over 3 years	-16.40%	-14.27%	-2.13%
Max Drawdown (5Y) Largest decline over 5 years	-24.25%	-29.29%	+5.04%
Max Drawdown (10Y) Largest decline over 10 years	—	-44.08%	—
Current Drawdown Current decline from peak	-1.02%	-1.27%	+0.25%
Average Drawdown Average peak-to-trough decline	-10.38%	-16.61%	+6.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.09%	2.90%	+0.19%

Volatility

JHVTX vs. LZEMX - Volatility Comparison

John Hancock Variable Insurance Trust Emerging Markets Value Trust (JHVTX) has a higher volatility of 6.56% compared to Lazard Emerging Markets Equity Portfolio (LZEMX) at 5.54%. This indicates that JHVTX's price experiences larger fluctuations and is considered to be riskier than LZEMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JHVTX	LZEMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.56%	5.54%	+1.02%
Volatility (6M) Calculated over the trailing 6-month period	13.73%	11.84%	+1.89%
Volatility (1Y) Calculated over the trailing 1-year period	16.54%	14.08%	+2.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.09%	14.44%	+0.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.32%	16.42%	-0.10%

JHVTX vs. LZEMX - Expense Ratio Comparison

Both JHVTX and LZEMX have an expense ratio of 1.06%.

Dividends

JHVTX vs. LZEMX - Dividend Comparison

JHVTX's dividend yield for the trailing twelve months is around 0.97%, less than LZEMX's 1.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JHVTX John Hancock Variable Insurance Trust Emerging Markets Value Trust	0.97%	1.15%	4.55%	1.56%	4.10%	2.50%	2.16%	3.16%	3.02%	0.00%	0.00%	0.00%
LZEMX Lazard Emerging Markets Equity Portfolio	1.63%	2.05%	3.11%	3.76%	5.92%	4.89%	2.11%	2.45%	2.10%	1.99%	1.48%	2.14%

Frequently Asked Questions

Can I hold both JHVTX and LZEMX in my portfolio?

JHVTX and LZEMX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JHVTX or LZEMX?

JHVTX has higher volatility (6.56%) compared to LZEMX (5.54%). In terms of maximum drawdown, JHVTX dropped -48.10% vs LZEMX's -60.08%.

Which has better risk-adjusted returns?

LZEMX currently has the higher Sharpe Ratio (3.66 vs 2.84), 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.