JLIAX vs. JAKVX

Last updated Jun 24, 2026

JLIAX (John Hancock Funds II Multimanager 2040 Lifetime Portfolio) and JAKVX (John Hancock Disciplined Value Global Long/Short Fund Class R6) are both mutual funds - JLIAX is a Target Retirement Date fund managed by John Hancock, while JAKVX is a Long-Short fund actively managed by John Hancock. Over the past year, JLIAX returned 23.60% vs 20.32% for JAKVX. A 0.62 correlation means they provide meaningful diversification when combined. JLIAX charges 0.42%/yr vs 1.54%/yr for JAKVX.

Performance

JLIAX vs. JAKVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Funds II Multimanager 2040 Lifetime Portfolio (JLIAX) and John Hancock Disciplined Value Global Long/Short Fund Class R6 (JAKVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JLIAX achieves a 11.14% return, which is significantly higher than JAKVX's 9.88% return.

JLIAX

• 1D: 0.00%
• 1M: 2.21%
• YTD: 11.14%
• 6M: 10.54%
• 1Y: 23.60%
• 3Y*: 16.63%
• 5Y*: 7.31%
• 10Y*: 10.66%

JAKVX

• 1D: 0.23%
• 1M: -2.10%
• YTD: 9.88%
• 6M: 10.16%
• 1Y: 20.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JLIAX vs. JAKVX - Yearly Performance Comparison

	2026 (YTD)	2025
JLIAX John Hancock Funds II Multimanager 2040 Lifetime Portfolio	11.14%	18.87%
JAKVX John Hancock Disciplined Value Global Long/Short Fund Class R6	9.88%	17.29%

Correlation

The correlation between JLIAX and JAKVX is 0.67, 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	0.67
Correlation (All Time) Calculated using the full available price history since Apr 28, 2025	0.62

The correlation between JLIAX and JAKVX has been stable across timeframes, ranging from 0.62 to 0.67 - a consistent structural relationship.

Return for Risk

JLIAX vs. JAKVX — Risk / Return Rank

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

JLIAX

JLIAX Risk / Return Rank: 61
JLIAX Sharpe Ratio Rank: 60
JLIAX Sortino Ratio Rank: 56
JLIAX Omega Ratio Rank: 61
JLIAX Calmar Ratio Rank: 61
JLIAX Martin Ratio Rank: 68

JAKVX

JAKVX Risk / Return Rank: 83
JAKVX Sharpe Ratio Rank: 87
JAKVX Sortino Ratio Rank: 84
JAKVX Omega Ratio Rank: 83
JAKVX Calmar Ratio Rank: 87
JAKVX Martin Ratio Rank: 74

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.

JLIAX vs. JAKVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Funds II Multimanager 2040 Lifetime Portfolio (JLIAX) and John Hancock Disciplined Value Global Long/Short Fund Class R6 (JAKVX). 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.

	JLIAX	JAKVX	Difference
Sharpe ratio: Return per unit of total volatility	2.10	2.63	-0.53
Sortino ratio: Return per unit of downside risk	2.90	3.67	-0.77
Omega ratio: Gain probability vs. loss probability	1.39	1.51	-0.11
Calmar ratio: Return relative to maximum drawdown	2.87	3.96	-1.09
Martin ratio: Return relative to average drawdown	12.39	13.15	-0.76

JLIAX vs. JAKVX - Sharpe Ratio Comparison

The current JLIAX Sharpe Ratio is 2.10, which is comparable to the JAKVX Sharpe Ratio of 2.63. The chart below compares the historical Sharpe Ratios of JLIAX and JAKVX, 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

JLIAX vs. JAKVX - Drawdown Comparison

The maximum JLIAX drawdown since its inception was -56.47%, which is greater than JAKVX's maximum drawdown of -5.16%. Use the drawdown chart below to compare losses from any high point for JLIAX and JAKVX.

Drawdown Indicators

	JLIAX	JAKVX	Difference
Max Drawdown Largest peak-to-trough decline	-56.47%	-5.16%	-51.31%
Max Drawdown (1Y) Largest decline over 1 year	-8.54%	-5.16%	-3.38%
Max Drawdown (3Y) Largest decline over 3 years	-14.42%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.78%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-31.05%	—	—
Current Drawdown Current decline from peak	-0.16%	-3.65%	+3.49%
Average Drawdown Average peak-to-trough decline	-8.78%	-0.85%	-7.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	1.55%	+0.42%

Volatility

JLIAX vs. JAKVX - Volatility Comparison

John Hancock Funds II Multimanager 2040 Lifetime Portfolio (JLIAX) has a higher volatility of 4.74% compared to John Hancock Disciplined Value Global Long/Short Fund Class R6 (JAKVX) at 2.82%. This indicates that JLIAX's price experiences larger fluctuations and is considered to be riskier than JAKVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JLIAX	JAKVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.74%	2.82%	+1.92%
Volatility (6M) Calculated over the trailing 6-month period	9.77%	6.32%	+3.45%
Volatility (1Y) Calculated over the trailing 1-year period	11.70%	7.79%	+3.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.16%	7.55%	+6.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.19%	7.55%	+7.64%

JLIAX vs. JAKVX - Expense Ratio Comparison

JLIAX has a 0.42% expense ratio, which is lower than JAKVX's 1.54% expense ratio.

Dividends

JLIAX vs. JAKVX - Dividend Comparison

JLIAX's dividend yield for the trailing twelve months is around 8.26%, more than JAKVX's 7.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JAKVX John Hancock Disciplined Value Global Long/Short Fund Class R6	7.71%	8.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
JLIAX John Hancock Funds II Multimanager 2040 Lifetime Portfolio	8.26%	9.18%	2.86%	2.82%	22.31%	9.18%	5.58%	11.19%	13.74%	6.10%	6.95%	6.25%

Frequently Asked Questions

Can I hold both JLIAX and JAKVX in my portfolio?

JLIAX and JAKVX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JLIAX or JAKVX?

JLIAX has higher volatility (4.74%) compared to JAKVX (2.82%). In terms of maximum drawdown, JLIAX dropped -56.47% vs JAKVX's -5.16%.

Which has better risk-adjusted returns?

JAKVX currently has the higher Sharpe Ratio (2.63 vs 2.10), 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.