JLMRX vs. JAAAX

Last updated Jul 4, 2026

JLMRX (John Hancock Funds Multi-Index Lifestyle Moderate Portfolio) and JAAAX (John Hancock Funds Alternative Asset Allocation Fund) are both mutual funds - JLMRX is a Diversified Portfolio fund managed by John Hancock, while JAAAX is a Multistrategy fund managed by John Hancock. Over the past 10 years, JLMRX returned 5.90%/yr vs 4.17%/yr for JAAAX. Their correlation of 0.84 suggests significant overlap in exposure. JLMRX charges 0.45%/yr vs 0.72%/yr for JAAAX.

Performance

JLMRX vs. JAAAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Funds Multi-Index Lifestyle Moderate Portfolio (JLMRX) and John Hancock Funds Alternative Asset Allocation Fund (JAAAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with JLMRX having a 5.57% return and JAAAX slightly lower at 5.47%. Over the past 10 years, JLMRX has outperformed JAAAX with an annualized return of 5.90%, while JAAAX has yielded a comparatively lower 4.17% annualized return.

JLMRX

• 1D: 0.16%
• 1M: 0.06%
• 6M: 5.30%
• YTD: 5.57%
• 1Y: 11.12%
• 3Y*: 10.05%
• 5Y*: 4.44%
• 10Y*: 5.90%

JAAAX

• 1D: 0.23%
• 1M: -0.79%
• 6M: 5.34%
• YTD: 5.47%
• 1Y: 9.04%
• 3Y*: 6.94%
• 5Y*: 4.13%
• 10Y*: 4.17%

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

JLMRX vs. JAAAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JLMRX John Hancock Funds Multi-Index Lifestyle Moderate Portfolio	5.57%	11.91%	7.45%	11.20%	-13.79%	7.42%	10.21%	16.25%	-3.93%	8.36%
JAAAX John Hancock Funds Alternative Asset Allocation Fund	5.47%	6.18%	6.59%	5.85%	-3.12%	4.77%	4.36%	8.95%	-4.09%	6.10%

Correlation

The correlation between JLMRX and JAAAX 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	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014	0.84

The correlation between JLMRX and JAAAX has been stable across timeframes, ranging from 0.77 to 0.84 - a consistent structural relationship.

Return for Risk

JLMRX vs. JAAAX — Risk / Return Rank

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

JLMRX

JLMRX Risk / Return Rank: 66
JLMRX Sharpe Ratio Rank: 67
JLMRX Sortino Ratio Rank: 67
JLMRX Omega Ratio Rank: 69
JLMRX Calmar Ratio Rank: 59
JLMRX Martin Ratio Rank: 70

JAAAX

JAAAX Risk / Return Rank: 92
JAAAX Sharpe Ratio Rank: 93
JAAAX Sortino Ratio Rank: 91
JAAAX Omega Ratio Rank: 88
JAAAX Calmar Ratio Rank: 95
JAAAX Martin Ratio Rank: 94

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.

JLMRX vs. JAAAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Funds Multi-Index Lifestyle Moderate Portfolio (JLMRX) and John Hancock Funds Alternative Asset Allocation Fund (JAAAX). 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.

	JLMRX	JAAAX	Difference
Sharpe ratio: Return per unit of total volatility	1.82	2.68	-0.86
Sortino ratio: Return per unit of downside risk	2.59	3.88	-1.29
Omega ratio: Gain probability vs. loss probability	1.35	1.51	-0.17
Calmar ratio: Return relative to maximum drawdown	2.38	4.56	-2.19
Martin ratio: Return relative to average drawdown	10.33	16.49	-6.16

JLMRX vs. JAAAX - Sharpe Ratio Comparison

The current JLMRX Sharpe Ratio is 1.82, which is lower than the JAAAX Sharpe Ratio of 2.68. The chart below compares the historical Sharpe Ratios of JLMRX and JAAAX, 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

JLMRX vs. JAAAX - Drawdown Comparison

The maximum JLMRX drawdown since its inception was -20.60%, which is greater than JAAAX's maximum drawdown of -15.72%. Use the drawdown chart below to compare losses from any high point for JLMRX and JAAAX.

Drawdown Indicators

	JLMRX	JAAAX	Difference
Max Drawdown Largest peak-to-trough decline	-20.60%	-15.72%	-4.88%
Max Drawdown (1Y) Largest decline over 1 year	-4.79%	-2.02%	-2.77%
Max Drawdown (3Y) Largest decline over 3 years	-7.31%	-5.66%	-1.65%
Max Drawdown (5Y) Largest decline over 5 years	-19.46%	-6.28%	-13.18%
Max Drawdown (10Y) Largest decline over 10 years	-20.60%	-12.64%	-7.96%
Current Drawdown Current decline from peak	-0.42%	-0.85%	+0.43%
Average Drawdown Average peak-to-trough decline	-3.00%	-2.04%	-0.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.10%	0.56%	+0.54%

Volatility

JLMRX vs. JAAAX - Volatility Comparison

John Hancock Funds Multi-Index Lifestyle Moderate Portfolio (JLMRX) has a higher volatility of 2.56% compared to John Hancock Funds Alternative Asset Allocation Fund (JAAAX) at 1.25%. This indicates that JLMRX's price experiences larger fluctuations and is considered to be riskier than JAAAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JLMRX	JAAAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.56%	1.25%	+1.31%
Volatility (6M) Calculated over the trailing 6-month period	5.27%	2.67%	+2.60%
Volatility (1Y) Calculated over the trailing 1-year period	6.25%	3.44%	+2.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.30%	4.22%	+4.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.52%	4.37%	+4.15%

JLMRX vs. JAAAX - Expense Ratio Comparison

JLMRX has a 0.45% expense ratio, which is lower than JAAAX's 0.72% expense ratio.

Dividends

JLMRX vs. JAAAX - Dividend Comparison

JLMRX's dividend yield for the trailing twelve months is around 3.00%, more than JAAAX's 1.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JAAAX John Hancock Funds Alternative Asset Allocation Fund	1.45%	1.53%	1.17%	1.71%	3.02%	1.72%	0.74%	3.38%	1.99%	1.23%	0.77%	2.78%
JLMRX John Hancock Funds Multi-Index Lifestyle Moderate Portfolio	3.00%	3.13%	3.06%	3.05%	6.73%	5.05%	4.11%	5.53%	6.16%	2.18%	2.98%	2.41%

Frequently Asked Questions

Can I hold both JLMRX and JAAAX in my portfolio?

JLMRX and JAAAX 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, JLMRX or JAAAX?

JLMRX has higher volatility (2.56%) compared to JAAAX (1.25%). In terms of maximum drawdown, JLMRX dropped -20.60% vs JAAAX's -15.72%.

Which has better risk-adjusted returns?

JAAAX currently has the higher Sharpe Ratio (2.68 vs 1.82), 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.