JMENX vs. IRSOX

Last updated Jun 23, 2026

JMENX (John Hancock Multimanager 2060 Lifetime Portfolio) and IRSOX (Voya Target Retirement 2040 Fund) are both Target Retirement Date funds. Over the past 5 years, JMENX returned 9.17%/yr vs 9.58%/yr for IRSOX. With a 0.97 correlation, they move nearly in lockstep. JMENX charges 0.12%/yr vs 0.23%/yr for IRSOX.

Performance

JMENX vs. IRSOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Multimanager 2060 Lifetime Portfolio (JMENX) and Voya Target Retirement 2040 Fund (IRSOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JMENX achieves a 13.18% return, which is significantly higher than IRSOX's 11.15% return.

JMENX

• 1D: 1.35%
• 1M: 2.55%
• YTD: 13.18%
• 6M: 12.91%
• 1Y: 28.17%
• 3Y*: 18.13%
• 5Y*: 9.17%
• 10Y*: —

IRSOX

• 1D: 1.00%
• 1M: 1.72%
• YTD: 11.15%
• 6M: 11.03%
• 1Y: 25.96%
• 3Y*: 17.22%
• 5Y*: 9.58%
• 10Y*: 11.25%

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

JMENX vs. IRSOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JMENX John Hancock Multimanager 2060 Lifetime Portfolio	13.18%	18.47%	15.40%	18.75%	-19.64%	15.71%	20.33%	24.78%	-9.04%	17.65%
IRSOX Voya Target Retirement 2040 Fund	11.15%	19.10%	13.74%	19.25%	-18.43%	17.65%	16.93%	23.69%	-8.31%	20.15%

Correlation

The correlation between JMENX and IRSOX is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.97

The correlation between JMENX and IRSOX has been stable across timeframes, ranging from 0.90 to 0.97 - a consistent structural relationship.

Return for Risk

JMENX vs. IRSOX — Risk / Return Rank

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

JMENX

JMENX Risk / Return Rank: 59
JMENX Sharpe Ratio Rank: 57
JMENX Sortino Ratio Rank: 52
JMENX Omega Ratio Rank: 57
JMENX Calmar Ratio Rank: 61
JMENX Martin Ratio Rank: 69

IRSOX

IRSOX Risk / Return Rank: 81
IRSOX Sharpe Ratio Rank: 82
IRSOX Sortino Ratio Rank: 81
IRSOX Omega Ratio Rank: 77
IRSOX Calmar Ratio Rank: 78
IRSOX Martin Ratio Rank: 88

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.

JMENX vs. IRSOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Multimanager 2060 Lifetime Portfolio (JMENX) and Voya Target Retirement 2040 Fund (IRSOX). 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.

	JMENX	IRSOX	Difference
Sharpe ratio: Return per unit of total volatility	2.05	2.46	-0.42
Sortino ratio: Return per unit of downside risk	2.80	3.54	-0.74
Omega ratio: Gain probability vs. loss probability	1.38	1.46	-0.08
Calmar ratio: Return relative to maximum drawdown	2.86	3.34	-0.49
Martin ratio: Return relative to average drawdown	12.43	15.54	-3.12

JMENX vs. IRSOX - Sharpe Ratio Comparison

The current JMENX Sharpe Ratio is 2.05, which is comparable to the IRSOX Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of JMENX and IRSOX, 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

JMENX vs. IRSOX - Drawdown Comparison

The maximum JMENX drawdown since its inception was -32.02%, roughly equal to the maximum IRSOX drawdown of -31.25%. Use the drawdown chart below to compare losses from any high point for JMENX and IRSOX.

Drawdown Indicators

	JMENX	IRSOX	Difference
Max Drawdown Largest peak-to-trough decline	-32.02%	-31.25%	-0.77%
Max Drawdown (1Y) Largest decline over 1 year	-9.74%	-8.38%	-1.36%
Max Drawdown (3Y) Largest decline over 3 years	-16.62%	-13.84%	-2.78%
Max Drawdown (5Y) Largest decline over 5 years	-28.10%	-25.24%	-2.86%
Max Drawdown (10Y) Largest decline over 10 years	—	-31.25%	—
Current Drawdown Current decline from peak	-0.23%	-0.46%	+0.23%
Average Drawdown Average peak-to-trough decline	-5.63%	-4.27%	-1.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.24%	1.74%	+0.50%

Volatility

JMENX vs. IRSOX - Volatility Comparison

John Hancock Multimanager 2060 Lifetime Portfolio (JMENX) has a higher volatility of 5.70% compared to Voya Target Retirement 2040 Fund (IRSOX) at 4.38%. This indicates that JMENX's price experiences larger fluctuations and is considered to be riskier than IRSOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JMENX	IRSOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.70%	4.38%	+1.32%
Volatility (6M) Calculated over the trailing 6-month period	11.41%	9.34%	+2.07%
Volatility (1Y) Calculated over the trailing 1-year period	13.59%	11.38%	+2.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.79%	13.96%	+1.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.53%	14.84%	+1.69%

JMENX vs. IRSOX - Expense Ratio Comparison

JMENX has a 0.12% expense ratio, which is lower than IRSOX's 0.23% 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

JMENX vs. IRSOX - Dividend Comparison

JMENX's dividend yield for the trailing twelve months is around 5.37%, less than IRSOX's 12.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IRSOX Voya Target Retirement 2040 Fund	12.33%	13.71%	2.25%	2.13%	6.01%	17.52%	3.71%	4.14%	5.84%	5.86%	1.98%	0.41%
JMENX John Hancock Multimanager 2060 Lifetime Portfolio	5.37%	6.08%	3.17%	3.56%	14.07%	9.28%	3.85%	6.44%	7.51%	2.17%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JMENX and IRSOX in my portfolio?

JMENX and IRSOX have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JMENX or IRSOX?

JMENX has higher volatility (5.70%) compared to IRSOX (4.38%). In terms of maximum drawdown, JMENX dropped -32.02% vs IRSOX's -31.25%.

Which has better risk-adjusted returns?

IRSOX currently has the higher Sharpe Ratio (2.46 vs 2.05), 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.