Category Review
Municipal bond funds are down for the year after a third-quarter selloff erased the first-half gain
John Hancock Investments - Dynamic Municipal Bond ETF
$24.90+0.06 (+0.22%)
- 0.39%
- $53M
- −1.1%
- 4.00%
- 0M sh
- $24.80
- low $24.49high $26.70
The ETF.net JHMU Grade
B
Score 56 out of 100
- 34 of 63
Score 56 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.D26 out of 100Rank 44 of 63Mission
Whether the fund did what it promised, tested against its stated mandate.A92 out of 100Rank 25 of 59Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.A71 out of 100Rank 2 of 63Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C50 out of 100Rank 32 of 63Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C54 out of 100Rank 36 of 63Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C41 out of 100Rank 45 of 63
Our read on JHMU
BAn actively managed muni fund that hunts mispriced bonds instead of tracking an index, chasing interest income exempt from federal tax. The hands-on approach carries a hands-on price tag.
The fund seeks a high level of interest income that is exempt from federal income tax. Its strategy uses pricing imbalances within the municipal bond market.
Why people hold it
- Active by design: managers work pricing imbalances in the municipal market rather than buying the index, targeting interest income exempt from federal income tax.
- Income lands monthly, spread across roughly 220 municipal bonds rather than a handful of concentrated bets.
- What's inside matches what's on the tin: an all-US municipal bond portfolio that stays close to its stated mandate.
Worth knowing
- Fees bite: 1.01% a year is more than triple the typical muni ETF, and index rivals VTEB and MUB run 0.03% and 0.05%.
- A small fund that trades thinly. Fewer shares changing hands can mean wider bid-ask spreads and prices that drift from the bonds inside.
- Launched in 2023, so its record is short next to muni funds that have traded through several rate cycles, and it sits in the lower half of its peer group.
JHMU Holdings
- Bonds
- 243
- 18%
- Jh Ctf
JHMU Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.Not enough history yet.
JHMU$9,889
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | JHMU |
|---|---|
| Year to date | −2.4% |
| 1 month | −1.7% |
| 3 months | −4.3% |
| 1 year | −1.1% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | JHMU |
|---|---|---|
| 2026 YTD | −2.4% | |
| 2025 | +5.0% | |
| 2024 | +3.8% | |
| 2023 | +7.8% |
JHMU in the news
JHMU Dividends
- 4.00%
- $0.99
- $0.08 per share
- Monthly
Distribution history
JHMU Risk
- 4.6%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.28
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −6.2%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.19
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
JHMU Cost
0.39%
JHMU0.39%
- The middle half of Other Municipal Bond funds
- Median 0.30%
43 of the 63 Other Municipal Bond funds charge less.
Other funds in Other Municipal Bond
- BFTMAPutnam ETF Trust - Franklin Massachusetts Municipal Income ETFExpense ratio 0.36%1 year return —
- CFTMNPutnam ETF Trust - Franklin Minnesota Municipal Income ETFExpense ratio 0.36%1 year return —
- BNUMINuveen Municipal IncomeExpense ratio 0.30%1 year return −2.7%
- BMMINNYLI MacKay Muni Insured ETFExpense ratio 0.40%1 year return −2.4%
- CBMOPBNY Mellon Municipal Opportunities ETFExpense ratio 0.54%1 year return —