TACAX vs. SVBAX

Last updated Jun 4, 2026

TACAX (John Hancock California Municipal Bond Fund) and SVBAX (John Hancock Balanced Fund) are both mutual funds - TACAX is a Municipal Bonds fund managed by John Hancock, while SVBAX is a Diversified Portfolio fund managed by John Hancock. Over the past 10 years, TACAX returned 2.12%/yr vs 10.05%/yr for SVBAX. At a 0.06 correlation, their price movements are largely independent. TACAX charges 0.81%/yr vs 1.03%/yr for SVBAX.

Performance

TACAX vs. SVBAX - Performance Comparison

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

Returns By Period

In the year-to-date period, TACAX achieves a 2.04% return, which is significantly lower than SVBAX's 10.17% return. Over the past 10 years, TACAX has underperformed SVBAX with an annualized return of 2.12%, while SVBAX has yielded a comparatively higher 10.05% annualized return.

TACAX

• 1D: 0.30%
• 1M: 1.14%
• YTD: 2.04%
• 6M: 2.37%
• 1Y: 8.80%
• 3Y*: 4.03%
• 5Y*: 1.15%
• 10Y*: 2.12%

SVBAX

• 1D: -0.37%
• 1M: 2.84%
• YTD: 10.17%
• 6M: 9.97%
• 1Y: 23.74%
• 3Y*: 16.55%
• 5Y*: 8.96%
• 10Y*: 10.05%

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

TACAX vs. SVBAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TACAX John Hancock California Municipal Bond Fund	2.04%	3.05%	2.32%	7.28%	-9.13%	2.32%	3.70%	7.71%	0.43%	6.11%
SVBAX John Hancock Balanced Fund	10.17%	15.69%	13.31%	18.22%	-15.79%	14.49%	15.97%	21.28%	-5.02%	13.40%

Correlation

The correlation between TACAX and SVBAX is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (10Y) Calculated over the trailing 10-year period	0.10
Correlation (All Time) Calculated using the full available price history since Jan 5, 1993	0.06

Over the past year, TACAX and SVBAX have become more correlated (0.29) than their long-term average of 0.06, meaning their price movements have been converging.

Return for Risk

TACAX vs. SVBAX — Risk / Return Rank

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

TACAX

TACAX Risk / Return Rank: 57
TACAX Sharpe Ratio Rank: 58
TACAX Sortino Ratio Rank: 71
TACAX Omega Ratio Rank: 80
TACAX Calmar Ratio Rank: 39
TACAX Martin Ratio Rank: 37

SVBAX

SVBAX Risk / Return Rank: 88
SVBAX Sharpe Ratio Rank: 89
SVBAX Sortino Ratio Rank: 88
SVBAX Omega Ratio Rank: 82
SVBAX Calmar Ratio Rank: 88
SVBAX Martin Ratio Rank: 94

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.

TACAX vs. SVBAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock California Municipal Bond Fund (TACAX) and John Hancock Balanced Fund (SVBAX). 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.

	TACAX	SVBAX	Difference
Sharpe ratio: Return per unit of total volatility	2.27	2.97	-0.70
Sortino ratio: Return per unit of downside risk	3.54	4.31	-0.77
Omega ratio: Gain probability vs. loss probability	1.53	1.55	-0.02
Calmar ratio: Return relative to maximum drawdown	2.36	4.38	-2.02
Martin ratio: Return relative to average drawdown	8.02	21.63	-13.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TACAX vs. SVBAX - Sharpe Ratio Comparison

The current TACAX Sharpe Ratio is 2.27, which is comparable to the SVBAX Sharpe Ratio of 2.97. The chart below compares the historical Sharpe Ratios of TACAX and SVBAX, 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

	TACAX	SVBAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.27	2.97	-0.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.22	0.84	-0.62
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.93	-0.48
Sharpe Ratio (All Time) Calculated using the full available price history	1.19	0.70	+0.48

Drawdowns

TACAX vs. SVBAX - Drawdown Comparison

The maximum TACAX drawdown since its inception was -15.80%, smaller than the maximum SVBAX drawdown of -40.81%. Use the drawdown chart below to compare losses from any high point for TACAX and SVBAX.

Drawdown Indicators

	TACAX	SVBAX	Difference
Max Drawdown Largest peak-to-trough decline	-15.80%	-40.81%	+25.01%
Max Drawdown (1Y) Largest decline over 1 year	-3.69%	-5.57%	+1.88%
Max Drawdown (3Y) Largest decline over 3 years	-8.55%	-12.06%	+3.51%
Max Drawdown (5Y) Largest decline over 5 years	-15.09%	-20.53%	+5.44%
Max Drawdown (10Y) Largest decline over 10 years	-15.09%	-21.00%	+5.91%
Current Drawdown Current decline from peak	-0.23%	-0.37%	+0.14%
Average Drawdown Average peak-to-trough decline	-2.02%	-5.24%	+3.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.08%	1.13%	-0.05%

Volatility

TACAX vs. SVBAX - Volatility Comparison

The current volatility for John Hancock California Municipal Bond Fund (TACAX) is 1.41%, while John Hancock Balanced Fund (SVBAX) has a volatility of 2.50%. This indicates that TACAX experiences smaller price fluctuations and is considered to be less risky than SVBAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TACAX	SVBAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.41%	2.50%	-1.09%
Volatility (6M) Calculated over the trailing 6-month period	2.80%	6.49%	-3.69%
Volatility (1Y) Calculated over the trailing 1-year period	3.87%	8.22%	-4.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.28%	10.78%	-5.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.70%	10.79%	-6.09%

TACAX vs. SVBAX - Expense Ratio Comparison

TACAX has a 0.81% expense ratio, which is lower than SVBAX's 1.03% expense ratio.

Dividends

TACAX vs. SVBAX - Dividend Comparison

TACAX's dividend yield for the trailing twelve months is around 3.82%, less than SVBAX's 11.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SVBAX John Hancock Balanced Fund	11.34%	12.45%	3.72%	1.48%	1.60%	2.73%	1.60%	2.19%	8.06%	3.51%	1.70%	4.57%
TACAX John Hancock California Municipal Bond Fund	3.82%	4.64%	3.09%	2.40%	2.93%	3.04%	2.86%	4.16%	3.51%	3.48%	3.64%	3.66%

Frequently Asked Questions

Can I hold both TACAX and SVBAX in my portfolio?

TACAX and SVBAX have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TACAX or SVBAX?

SVBAX has higher volatility (2.50%) compared to TACAX (1.41%). In terms of maximum drawdown, TACAX dropped -15.80% vs SVBAX's -40.81%.

Which has better risk-adjusted returns?

SVBAX currently has the higher Sharpe Ratio (2.97 vs 2.27), 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.