SVBAX vs. HEQ

Last updated Jun 4, 2026

SVBAX (John Hancock Balanced Fund) and HEQ (John Hancock Diversified Income Fund) are both Diversified Portfolio funds from John Hancock. Over the past 10 years, SVBAX returned 10.09%/yr vs 7.64%/yr for HEQ. A 0.57 correlation means they provide meaningful diversification when combined. SVBAX charges 1.03%/yr vs 0.01%/yr for HEQ.

Performance

SVBAX vs. HEQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Balanced Fund (SVBAX) and John Hancock Diversified Income Fund (HEQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SVBAX achieves a 10.58% return, which is significantly lower than HEQ's 12.47% return. Over the past 10 years, SVBAX has outperformed HEQ with an annualized return of 10.09%, while HEQ has yielded a comparatively lower 7.64% annualized return.

SVBAX

• 1D: 0.56%
• 1M: 4.02%
• YTD: 10.58%
• 6M: 10.28%
• 1Y: 24.76%
• 3Y*: 16.69%
• 5Y*: 9.17%
• 10Y*: 10.09%

HEQ

• 1D: -0.17%
• 1M: 2.69%
• YTD: 12.47%
• 6M: 13.49%
• 1Y: 22.88%
• 3Y*: 15.11%
• 5Y*: 7.83%
• 10Y*: 7.64%

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

SVBAX vs. HEQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SVBAX John Hancock Balanced Fund	10.58%	15.69%	13.31%	18.22%	-15.79%	14.49%	15.97%	21.28%	-5.02%	13.40%
HEQ John Hancock Diversified Income Fund	12.47%	15.64%	11.70%	-3.14%	-3.08%	24.44%	-14.28%	26.76%	-17.29%	23.20%

Correlation

The correlation between SVBAX and HEQ is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (10Y) Calculated over the trailing 10-year period	0.52
Correlation (All Time) Calculated using the full available price history since May 31, 2011	0.57

The correlation between SVBAX and HEQ has been stable across timeframes, ranging from 0.52 to 0.61 - a consistent structural relationship.

Return for Risk

SVBAX vs. HEQ — Risk / Return Rank

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

SVBAX

SVBAX Risk / Return Rank: 91
SVBAX Sharpe Ratio Rank: 92
SVBAX Sortino Ratio Rank: 91
SVBAX Omega Ratio Rank: 85
SVBAX Calmar Ratio Rank: 90
SVBAX Martin Ratio Rank: 95

HEQ

HEQ Risk / Return Rank: 64
HEQ Sharpe Ratio Rank: 55
HEQ Sortino Ratio Rank: 65
HEQ Omega Ratio Rank: 55
HEQ Calmar Ratio Rank: 73
HEQ Martin Ratio Rank: 73

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.

SVBAX vs. HEQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Balanced Fund (SVBAX) and John Hancock Diversified Income Fund (HEQ). 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.

	SVBAX	HEQ	Difference
Sharpe ratio: Return per unit of total volatility	3.09	2.19	+0.90
Sortino ratio: Return per unit of downside risk	4.48	3.38	+1.10
Omega ratio: Gain probability vs. loss probability	1.58	1.41	+0.16
Calmar ratio: Return relative to maximum drawdown	4.56	3.32	+1.24
Martin ratio: Return relative to average drawdown	22.51	13.88	+8.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SVBAX vs. HEQ - Sharpe Ratio Comparison

The current SVBAX Sharpe Ratio is 3.09, which is higher than the HEQ Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of SVBAX and HEQ, 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

	SVBAX	HEQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.09	2.19	+0.90
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.86	0.48	+0.38
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.94	0.41	+0.53
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.34	+0.36

Drawdowns

SVBAX vs. HEQ - Drawdown Comparison

The maximum SVBAX drawdown since its inception was -40.81%, smaller than the maximum HEQ drawdown of -44.38%. Use the drawdown chart below to compare losses from any high point for SVBAX and HEQ.

Drawdown Indicators

	SVBAX	HEQ	Difference
Max Drawdown Largest peak-to-trough decline	-40.81%	-44.38%	+3.57%
Max Drawdown (1Y) Largest decline over 1 year	-5.57%	-6.92%	+1.35%
Max Drawdown (3Y) Largest decline over 3 years	-12.06%	-14.12%	+2.06%
Max Drawdown (5Y) Largest decline over 5 years	-20.53%	-25.37%	+4.84%
Max Drawdown (10Y) Largest decline over 10 years	-21.00%	-44.38%	+23.38%
Current Drawdown Current decline from peak	0.00%	-0.84%	+0.84%
Average Drawdown Average peak-to-trough decline	-5.24%	-8.57%	+3.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.13%	1.65%	-0.52%

Volatility

SVBAX vs. HEQ - Volatility Comparison

The current volatility for John Hancock Balanced Fund (SVBAX) is 2.51%, while John Hancock Diversified Income Fund (HEQ) has a volatility of 3.71%. This indicates that SVBAX experiences smaller price fluctuations and is considered to be less risky than HEQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SVBAX	HEQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.51%	3.71%	-1.20%
Volatility (6M) Calculated over the trailing 6-month period	6.52%	8.74%	-2.22%
Volatility (1Y) Calculated over the trailing 1-year period	8.21%	10.51%	-2.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.78%	16.52%	-5.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.80%	18.85%	-8.05%

SVBAX vs. HEQ - Expense Ratio Comparison

SVBAX has a 1.03% expense ratio, which is higher than HEQ's 0.02% expense ratio.

Dividends

SVBAX vs. HEQ - Dividend Comparison

SVBAX's dividend yield for the trailing twelve months is around 11.29%, more than HEQ's 8.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HEQ John Hancock Diversified Income Fund	8.46%	9.30%	9.79%	10.75%	10.09%	8.92%	11.64%	10.09%	11.50%	10.44%	9.57%	10.40%
SVBAX John Hancock Balanced Fund	11.29%	12.45%	3.72%	1.48%	1.60%	2.73%	1.60%	2.19%	8.06%	3.51%	1.70%	4.57%

Frequently Asked Questions

Can I hold both SVBAX and HEQ in my portfolio?

SVBAX and HEQ have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SVBAX or HEQ?

HEQ has higher volatility (3.71%) compared to SVBAX (2.51%). In terms of maximum drawdown, SVBAX dropped -40.81% vs HEQ's -44.38%.

Which has better risk-adjusted returns?

SVBAX currently has the higher Sharpe Ratio (3.09 vs 2.19), 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.