PBBBX vs. JMABX

Last updated Jun 24, 2026

PBBBX (PIA BBB Bond Fund) and JMABX (John Hancock Managed Account Shares Investment-Grade Corporate Bond Portfolio) are both Corporate Bonds funds. Over the past 5 years, PBBBX returned 0.41%/yr vs 1.00%/yr for JMABX. Their correlation of 0.89 suggests significant overlap in exposure. PBBBX charges 0.15%/yr vs 0.00%/yr for JMABX.

Performance

PBBBX vs. JMABX - Performance Comparison

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

Returns By Period

In the year-to-date period, PBBBX achieves a 0.25% return, which is significantly lower than JMABX's 0.38% return.

PBBBX

• 1D: -0.35%
• 1M: 0.81%
• YTD: 0.25%
• 6M: 0.56%
• 1Y: 4.93%
• 3Y*: 5.45%
• 5Y*: 0.41%
• 10Y*: 2.82%

JMABX

• 1D: -0.23%
• 1M: 0.46%
• YTD: 0.38%
• 6M: 0.96%
• 1Y: 5.74%
• 3Y*: 6.18%
• 5Y*: 1.00%
• 10Y*: —

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

PBBBX vs. JMABX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
PBBBX PIA BBB Bond Fund	0.25%	8.14%	2.41%	9.19%	-16.35%	-1.20%	9.37%	5.08%
JMABX John Hancock Managed Account Shares Investment-Grade Corporate Bond Portfolio	0.38%	8.88%	4.42%	8.05%	-15.50%	0.33%	7.74%	2.72%

Correlation

The correlation between PBBBX and JMABX is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jul 8, 2019	0.89

The correlation between PBBBX and JMABX has been stable across timeframes, ranging from 0.82 to 0.90 - a consistent structural relationship.

Return for Risk

PBBBX vs. JMABX — Risk / Return Rank

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

PBBBX

PBBBX Risk / Return Rank: 22
PBBBX Sharpe Ratio Rank: 23
PBBBX Sortino Ratio Rank: 23
PBBBX Omega Ratio Rank: 22
PBBBX Calmar Ratio Rank: 21
PBBBX Martin Ratio Rank: 21

JMABX

JMABX Risk / Return Rank: 39
JMABX Sharpe Ratio Rank: 39
JMABX Sortino Ratio Rank: 46
JMABX Omega Ratio Rank: 41
JMABX Calmar Ratio Rank: 34
JMABX Martin Ratio Rank: 34

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.

PBBBX vs. JMABX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIA BBB Bond Fund (PBBBX) and John Hancock Managed Account Shares Investment-Grade Corporate Bond Portfolio (JMABX). 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.

	PBBBX	JMABX	Difference
Sharpe ratio: Return per unit of total volatility	1.27	1.68	-0.41
Sortino ratio: Return per unit of downside risk	1.86	2.64	-0.77
Omega ratio: Gain probability vs. loss probability	1.23	1.32	-0.09
Calmar ratio: Return relative to maximum drawdown	1.57	2.08	-0.51
Martin ratio: Return relative to average drawdown	4.74	7.26	-2.52

PBBBX vs. JMABX - Sharpe Ratio Comparison

The current PBBBX Sharpe Ratio is 1.27, which is comparable to the JMABX Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of PBBBX and JMABX, 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

PBBBX vs. JMABX - Drawdown Comparison

The maximum PBBBX drawdown since its inception was -23.00%, which is greater than JMABX's maximum drawdown of -21.48%. Use the drawdown chart below to compare losses from any high point for PBBBX and JMABX.

Drawdown Indicators

	PBBBX	JMABX	Difference
Max Drawdown Largest peak-to-trough decline	-23.00%	-21.48%	-1.52%
Max Drawdown (1Y) Largest decline over 1 year	-3.30%	-2.89%	-0.41%
Max Drawdown (3Y) Largest decline over 3 years	-6.39%	-5.71%	-0.68%
Max Drawdown (5Y) Largest decline over 5 years	-23.00%	-21.48%	-1.52%
Max Drawdown (10Y) Largest decline over 10 years	-23.00%	—	—
Current Drawdown Current decline from peak	-1.37%	-1.08%	-0.29%
Average Drawdown Average peak-to-trough decline	-3.48%	-6.14%	+2.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.09%	0.83%	+0.26%

Volatility

PBBBX vs. JMABX - Volatility Comparison

PIA BBB Bond Fund (PBBBX) has a higher volatility of 1.16% compared to John Hancock Managed Account Shares Investment-Grade Corporate Bond Portfolio (JMABX) at 1.09%. This indicates that PBBBX's price experiences larger fluctuations and is considered to be riskier than JMABX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PBBBX	JMABX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.16%	1.09%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	3.13%	2.64%	+0.49%
Volatility (1Y) Calculated over the trailing 1-year period	4.09%	3.58%	+0.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.68%	5.53%	+1.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.03%	5.86%	+0.17%

PBBBX vs. JMABX - Expense Ratio Comparison

PBBBX has a 0.15% expense ratio, which is higher than JMABX's 0.00% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

PBBBX vs. JMABX - Dividend Comparison

PBBBX's dividend yield for the trailing twelve months is around 3.79%, less than JMABX's 5.64% 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	5.64%	5.59%	5.26%	3.59%	3.28%	3.99%	2.74%	0.80%	0.00%	0.00%	0.00%	0.00%
PBBBX PIA BBB Bond Fund	3.79%	4.02%	3.82%	3.57%	3.24%	2.85%	3.16%	3.78%	4.20%	3.75%	3.95%	4.12%

Frequently Asked Questions

Can I hold both PBBBX and JMABX in my portfolio?

PBBBX and JMABX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PBBBX or JMABX?

PBBBX has higher volatility (1.16%) compared to JMABX (1.09%). In terms of maximum drawdown, PBBBX dropped -23.00% vs JMABX's -21.48%.

Which has better risk-adjusted returns?

JMABX currently has the higher Sharpe Ratio (1.68 vs 1.27), 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.