JMABX vs. VLCIX

Last updated Jun 3, 2026

JMABX (John Hancock Managed Account Shares Investment-Grade Corporate Bond Portfolio) and VLCIX (Vanguard Long-Term Corporate Bond Index Fund Institutional Shares) are both Corporate Bonds funds. Over the past 5 years, JMABX returned 1.29%/yr vs -1.54%/yr for VLCIX. Their correlation of 0.87 suggests significant overlap in exposure. JMABX charges 0.00%/yr vs 0.05%/yr for VLCIX.

Performance

JMABX vs. VLCIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Managed Account Shares Investment-Grade Corporate Bond Portfolio (JMABX) and Vanguard Long-Term Corporate Bond Index Fund Institutional Shares (VLCIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JMABX achieves a 0.84% return, which is significantly lower than VLCIX's 1.11% return.

JMABX

• 1D: -0.11%
• 1M: 0.35%
• YTD: 0.84%
• 6M: 1.19%
• 1Y: 7.20%
• 3Y*: 6.34%
• 5Y*: 1.29%
• 10Y*: —

VLCIX

• 1D: 0.03%
• 1M: 1.28%
• YTD: 1.11%
• 6M: 0.42%
• 1Y: 8.30%
• 3Y*: 4.66%
• 5Y*: -1.54%
• 10Y*: 2.41%

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

JMABX vs. VLCIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
JMABX John Hancock Managed Account Shares Investment-Grade Corporate Bond Portfolio	0.84%	8.88%	4.42%	8.05%	-15.50%	0.33%	7.74%	2.72%
VLCIX Vanguard Long-Term Corporate Bond Index Fund Institutional Shares	1.11%	7.27%	-1.43%	11.06%	-25.75%	-1.24%	13.74%	6.53%

Correlation

The correlation between JMABX and VLCIX is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Jul 9, 2019	0.87

The correlation between JMABX and VLCIX has been stable across timeframes, ranging from 0.80 to 0.89 - a consistent structural relationship.

Return for Risk

JMABX vs. VLCIX — Risk / Return Rank

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

JMABX

JMABX Risk / Return Rank: 47
JMABX Sharpe Ratio Rank: 43
JMABX Sortino Ratio Rank: 53
JMABX Omega Ratio Rank: 46
JMABX Calmar Ratio Rank: 47
JMABX Martin Ratio Rank: 45

VLCIX

VLCIX Risk / Return Rank: 13
VLCIX Sharpe Ratio Rank: 13
VLCIX Sortino Ratio Rank: 13
VLCIX Omega Ratio Rank: 12
VLCIX Calmar Ratio Rank: 17
VLCIX Martin Ratio Rank: 12

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.

JMABX vs. VLCIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Managed Account Shares Investment-Grade Corporate Bond Portfolio (JMABX) and Vanguard Long-Term Corporate Bond Index Fund Institutional Shares (VLCIX). 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.

	JMABX	VLCIX	Difference
Sharpe ratio Return per unit of total volatility	1.94	1.01	+0.92
Sortino ratio Return per unit of downside risk	3.07	1.49	+1.58
Omega ratio Gain probability vs. loss probability	1.37	1.18	+0.19
Calmar ratio Return relative to maximum drawdown	2.63	1.51	+1.11
Martin ratio Return relative to average drawdown	9.50	3.74	+5.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JMABX vs. VLCIX - Sharpe Ratio Comparison

The current JMABX Sharpe Ratio is 1.94, which is higher than the VLCIX Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of JMABX and VLCIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JMABX	VLCIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.94	1.01	+0.92
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	-0.13	+0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.23	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.45	-0.07

Drawdowns

JMABX vs. VLCIX - Drawdown Comparison

The maximum JMABX drawdown since its inception was -21.48%, smaller than the maximum VLCIX drawdown of -34.56%. Use the drawdown chart below to compare losses from any high point for JMABX and VLCIX.

Drawdown Indicators

	JMABX	VLCIX	Difference
Max Drawdown Largest peak-to-trough decline	-21.48%	-34.56%	+13.08%
Max Drawdown (1Y) Largest decline over 1 year	-2.89%	-5.26%	+2.37%
Max Drawdown (3Y) Largest decline over 3 years	-5.71%	-12.86%	+7.15%
Max Drawdown (5Y) Largest decline over 5 years	-21.48%	-34.56%	+13.08%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.56%	—
Current Drawdown Current decline from peak	-0.63%	-13.84%	+13.21%
Average Drawdown Average peak-to-trough decline	-6.19%	-8.03%	+1.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.80%	2.13%	-1.33%

Volatility

JMABX vs. VLCIX - Volatility Comparison

The current volatility for John Hancock Managed Account Shares Investment-Grade Corporate Bond Portfolio (JMABX) is 1.21%, while Vanguard Long-Term Corporate Bond Index Fund Institutional Shares (VLCIX) has a volatility of 2.47%. This indicates that JMABX experiences smaller price fluctuations and is considered to be less risky than VLCIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JMABX	VLCIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.21%	2.47%	-1.26%
Volatility (6M) Calculated over the trailing 6-month period	2.62%	5.49%	-2.87%
Volatility (1Y) Calculated over the trailing 1-year period	3.61%	7.67%	-4.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.54%	11.88%	-6.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.88%	10.61%	-4.73%

JMABX vs. VLCIX - Expense Ratio Comparison

JMABX has a 0.00% expense ratio, which is lower than VLCIX's 0.05% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

JMABX vs. VLCIX - Dividend Comparison

JMABX's dividend yield for the trailing twelve months is around 5.62%, more than VLCIX's 5.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JMABX John Hancock Managed Account Shares Investment-Grade Corporate Bond Portfolio	5.62%	5.59%	5.26%	3.59%	3.28%	3.99%	2.74%	0.80%	0.00%	0.00%	0.00%	0.00%
VLCIX Vanguard Long-Term Corporate Bond Index Fund Institutional Shares	5.53%	5.50%	5.60%	4.67%	4.43%	2.95%	3.17%	3.83%	4.58%	4.03%	4.39%	4.73%

Frequently Asked Questions

Can I hold both JMABX and VLCIX in my portfolio?

JMABX and VLCIX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JMABX or VLCIX?

VLCIX has higher volatility (2.47%) compared to JMABX (1.21%). In terms of maximum drawdown, JMABX dropped -21.48% vs VLCIX's -34.56%.

Which has better risk-adjusted returns?

JMABX currently has the higher Sharpe Ratio (1.94 vs 1.01), 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.