JRTMX vs. ADAIX

Last updated Jun 5, 2026

JRTMX (John Hancock Funds Multi-Index 2035 Lifetime Portfolio) and ADAIX (AQR Diversified Arbitrage Fund Class I) are both mutual funds - JRTMX is a Target Retirement Date fund managed by John Hancock, while ADAIX is a Multistrategy fund actively managed by AQR Funds. Over the past 5 years, JRTMX returned 7.09%/yr vs 2.99%/yr for ADAIX. At a 0.43 correlation, their price movements are largely independent. JRTMX charges 0.29%/yr vs 1.38%/yr for ADAIX.

Performance

JRTMX vs. ADAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Funds Multi-Index 2035 Lifetime Portfolio (JRTMX) and AQR Diversified Arbitrage Fund Class I (ADAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JRTMX achieves a 9.32% return, which is significantly higher than ADAIX's 3.04% return.

JRTMX

• 1D: -0.56%
• 1M: 2.68%
• YTD: 9.32%
• 6M: 9.75%
• 1Y: 21.66%
• 3Y*: 15.31%
• 5Y*: 7.09%
• 10Y*: —

ADAIX

• 1D: 0.08%
• 1M: 0.61%
• YTD: 3.04%
• 6M: 3.54%
• 1Y: 6.82%
• 3Y*: 6.28%
• 5Y*: 2.99%
• 10Y*: 6.86%

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

JRTMX vs. ADAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
JRTMX John Hancock Funds Multi-Index 2035 Lifetime Portfolio	9.32%	16.54%	11.04%	15.26%	-17.97%	15.75%	15.08%	10.57%
ADAIX AQR Diversified Arbitrage Fund Class I	3.04%	8.03%	3.19%	4.51%	-3.30%	6.27%	25.24%	2.44%

Correlation

The correlation between JRTMX and ADAIX is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.43
Correlation (All Time) Calculated using the full available price history since Aug 28, 2019	0.43

Over the past year, the correlation between JRTMX and ADAIX has dropped to 0.09 - well below their long-term average of 0.43, suggesting their price drivers have been diverging.

Return for Risk

JRTMX vs. ADAIX — Risk / Return Rank

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

JRTMX

JRTMX Risk / Return Rank: 70
JRTMX Sharpe Ratio Rank: 69
JRTMX Sortino Ratio Rank: 68
JRTMX Omega Ratio Rank: 67
JRTMX Calmar Ratio Rank: 70
JRTMX Martin Ratio Rank: 75

ADAIX

ADAIX Risk / Return Rank: 99
ADAIX Sharpe Ratio Rank: 99
ADAIX Sortino Ratio Rank: 99
ADAIX Omega Ratio Rank: 98
ADAIX Calmar Ratio Rank: 99
ADAIX Martin Ratio Rank: 99

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.

JRTMX vs. ADAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Funds Multi-Index 2035 Lifetime Portfolio (JRTMX) and AQR Diversified Arbitrage Fund Class I (ADAIX). 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.

	JRTMX	ADAIX	Difference
Sharpe ratio: Return per unit of total volatility	2.38	4.90	-2.51
Sortino ratio: Return per unit of downside risk	3.36	8.27	-4.91
Omega ratio: Gain probability vs. loss probability	1.44	2.28	-0.83
Calmar ratio: Return relative to maximum drawdown	3.12	14.79	-11.67
Martin ratio: Return relative to average drawdown	13.68	44.89	-31.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JRTMX vs. ADAIX - Sharpe Ratio Comparison

The current JRTMX Sharpe Ratio is 2.38, which is lower than the ADAIX Sharpe Ratio of 4.90. The chart below compares the historical Sharpe Ratios of JRTMX and ADAIX, 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

	JRTMX	ADAIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.38	4.90	-2.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.57	1.15	-0.58
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.59	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	1.22	-0.53

Drawdowns

JRTMX vs. ADAIX - Drawdown Comparison

The maximum JRTMX drawdown since its inception was -29.63%, which is greater than ADAIX's maximum drawdown of -14.75%. Use the drawdown chart below to compare losses from any high point for JRTMX and ADAIX.

Drawdown Indicators

	JRTMX	ADAIX	Difference
Max Drawdown Largest peak-to-trough decline	-29.63%	-14.75%	-14.88%
Max Drawdown (1Y) Largest decline over 1 year	-7.06%	-0.46%	-6.60%
Max Drawdown (3Y) Largest decline over 3 years	-12.18%	-1.78%	-10.40%
Max Drawdown (5Y) Largest decline over 5 years	-24.97%	-7.40%	-17.57%
Max Drawdown (10Y) Largest decline over 10 years	—	-14.75%	—
Current Drawdown Current decline from peak	-0.56%	-0.08%	-0.48%
Average Drawdown Average peak-to-trough decline	-5.63%	-2.82%	-2.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.61%	0.15%	+1.46%

Volatility

JRTMX vs. ADAIX - Volatility Comparison

John Hancock Funds Multi-Index 2035 Lifetime Portfolio (JRTMX) has a higher volatility of 2.95% compared to AQR Diversified Arbitrage Fund Class I (ADAIX) at 0.32%. This indicates that JRTMX's price experiences larger fluctuations and is considered to be riskier than ADAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JRTMX	ADAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.95%	0.32%	+2.63%
Volatility (6M) Calculated over the trailing 6-month period	7.40%	1.05%	+6.35%
Volatility (1Y) Calculated over the trailing 1-year period	9.25%	1.40%	+7.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.55%	2.62%	+9.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.44%	4.32%	+11.12%

JRTMX vs. ADAIX - Expense Ratio Comparison

JRTMX has a 0.29% expense ratio, which is lower than ADAIX's 1.38% expense ratio.

Dividends

JRTMX vs. ADAIX - Dividend Comparison

JRTMX's dividend yield for the trailing twelve months is around 2.31%, more than ADAIX's 2.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADAIX AQR Diversified Arbitrage Fund Class I	2.06%	2.12%	1.23%	2.74%	0.10%	0.65%	1.60%	2.11%	6.53%	7.17%	7.18%	4.93%
JRTMX John Hancock Funds Multi-Index 2035 Lifetime Portfolio	2.31%	2.52%	2.12%	2.26%	7.16%	5.67%	4.72%	8.45%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JRTMX and ADAIX in my portfolio?

JRTMX and ADAIX have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JRTMX or ADAIX?

JRTMX has higher volatility (2.95%) compared to ADAIX (0.32%). In terms of maximum drawdown, JRTMX dropped -29.63% vs ADAIX's -14.75%.

Which has better risk-adjusted returns?

ADAIX currently has the higher Sharpe Ratio (4.90 vs 2.38), 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.