JLIAX vs. PDIZX

Last updated Aug 1, 2026

JLIAX (John Hancock Funds II Multimanager 2040 Lifetime Portfolio) and PDIZX (Putnam Retirement Advantage 2030 Fund) are both Target Retirement Date funds. Over the past 5 years, JLIAX returned 6.70%/yr vs 5.62%/yr for PDIZX. Their correlation of 0.94 means they have usually moved in the same direction. JLIAX charges 0.42%/yr vs 0.45%/yr for PDIZX.

Performance

JLIAX vs. PDIZX - 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 Putnam Retirement Advantage 2030 Fund (PDIZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JLIAX achieves a 9.00% return, which is significantly higher than PDIZX's 3.96% return.

JLIAX

• 1D: 1.66%
• 1M: -0.97%
• 6M: 5.80%
• YTD: 9.00%
• 1Y: 18.74%
• 3Y*: 13.98%
• 5Y*: 6.70%
• 10Y*: 9.75%
• ALL TIME*: 7.10%

PDIZX

• 1D: 0.62%
• 1M: -0.53%
• 6M: 2.83%
• YTD: 3.96%
• 1Y: 10.04%
• 3Y*: 11.16%
• 5Y*: 5.62%
• 10Y*: —
• ALL TIME*: 7.47%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
JLIAX John Hancock Funds II Multimanager 2040 Lifetime Portfolio	$0.00	$0.00	$0.00
PDIZX Putnam Retirement Advantage 2030 Fund	$0.00	$0.00	$0.00

JLIAX vs. PDIZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
JLIAX John Hancock Funds II Multimanager 2040 Lifetime Portfolio	9.00%	17.06%	12.87%	16.80%	-19.86%	14.83%	19.46%
PDIZX Putnam Retirement Advantage 2030 Fund	3.96%	11.93%	8.54%	18.82%	-14.27%	12.07%	11.36%

Correlation

The correlation between JLIAX and PDIZX is 0.94, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.94
Correlation (3Y) Balances recent behavior with more history.	0.92
Correlation (5Y) Shows whether the relationship held over a longer period.	0.93
Correlation (All Time) Calculated using the full available price history since Jan 2, 2020	0.94

The correlation between JLIAX and PDIZX has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

JLIAX vs. PDIZX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

JLIAX

JLIAX Risk / Return Rank: 54
JLIAX Sharpe Ratio Rank: 51
JLIAX Sortino Ratio Rank: 50
JLIAX Omega Ratio Rank: 51
JLIAX Calmar Ratio Rank: 54
JLIAX Martin Ratio Rank: 63

PDIZX

PDIZX Risk / Return Rank: 75
PDIZX Sharpe Ratio Rank: 72
PDIZX Sortino Ratio Rank: 72
PDIZX Omega Ratio Rank: 71
PDIZX Calmar Ratio Rank: 76
PDIZX Martin Ratio Rank: 85

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

JLIAX vs. PDIZX - 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 Putnam Retirement Advantage 2030 Fund (PDIZX). 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	PDIZX	Difference
Sharpe ratio: Return per unit of total volatility	1.42	1.72	-0.31
Sortino ratio: Return per unit of downside risk	2.01	2.49	-0.48
Omega ratio: Gain probability vs. loss probability	1.26	1.32	-0.05
Calmar ratio: Return relative to maximum drawdown	2.02	2.52	-0.50
Martin ratio: Return relative to average drawdown	8.42	10.89	-2.47

JLIAX vs. PDIZX - Sharpe Ratio Comparison

The current JLIAX Sharpe Ratio is 1.42, which is comparable to the PDIZX Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of JLIAX and PDIZX, 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. PDIZX - Drawdown Comparison

The maximum JLIAX drawdown since its inception was -56.47%, which is greater than PDIZX's maximum drawdown of -21.03%. Use the drawdown chart below to compare losses from any high point for JLIAX and PDIZX.

Drawdown Indicators

	JLIAX	PDIZX	Difference
Max Drawdown Largest peak-to-trough decline	-56.47%	-21.03%	-35.44%
Max Drawdown (1Y) Largest decline over 1 year	-8.54%	-3.96%	-4.58%
Max Drawdown (3Y) Largest decline over 3 years	-14.42%	-7.31%	-7.11%
Max Drawdown (5Y) Largest decline over 5 years	-27.78%	-18.97%	-8.81%
Max Drawdown (10Y) Largest decline over 10 years	-31.05%	—	—
Current Drawdown Current decline from peak	-2.08%	-0.88%	-1.20%
Average Drawdown Average peak-to-trough decline	-8.74%	-4.24%	-4.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.05%	0.92%	+1.13%

Volatility

JLIAX vs. PDIZX - Volatility Comparison

John Hancock Funds II Multimanager 2040 Lifetime Portfolio (JLIAX) has a higher volatility of 3.49% compared to Putnam Retirement Advantage 2030 Fund (PDIZX) at 1.74%. This indicates that JLIAX's price experiences larger fluctuations and is considered to be riskier than PDIZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JLIAX	PDIZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.49%	1.74%	+1.75%
Volatility (6M) Calculated over the trailing 6-month period	10.26%	4.78%	+5.48%
Volatility (1Y) Calculated over the trailing 1-year period	12.18%	5.80%	+6.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.21%	8.64%	+5.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.12%	10.39%	+4.73%

JLIAX vs. PDIZX - Expense Ratio Comparison

JLIAX has a 0.42% expense ratio, which is lower than PDIZX's 0.45% expense ratio.

Dividends

JLIAX vs. PDIZX - Dividend Comparison

JLIAX's dividend yield for the trailing twelve months is around 8.42%, more than PDIZX's 7.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JLIAX John Hancock Funds II Multimanager 2040 Lifetime Portfolio	8.42%	9.18%	2.86%	2.82%	22.31%	9.18%	5.58%	11.19%	13.74%	6.10%	6.95%	6.25%
PDIZX Putnam Retirement Advantage 2030 Fund	7.34%	7.63%	4.91%	3.15%	7.76%	12.48%	1.28%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JLIAX and PDIZX in my portfolio?

With a correlation of 0.94, JLIAX and PDIZX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, JLIAX or PDIZX?

JLIAX has higher volatility (3.49%) compared to PDIZX (1.74%). In terms of maximum drawdown, JLIAX dropped -56.47% vs PDIZX's -21.03%.

Which has better risk-adjusted returns?

PDIZX currently has the higher Sharpe Ratio (1.72 vs 1.42), 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.