JHAC vs QLTY: Grades, Fees and Holdings Compared

John Hancock Fundamental All Cap Core ETF

JHACDNYSE Arca

GMO US Quality ETF

QLTYANYSE Arca

Overlap

35.4%by weight

Expense ratio

QLTY −0.22pt a year

JHAC0.72%QLTY0.50%

Avg volume · 30D

QLTY 1633.8×the volume

JHAC246QLTY402K

JHAC vs QLTY Performance

Oct 31, 2025 – Oct 30, 2026

+2.3%JHAC+17.4%QLTY

Expense ratio: JHAC 0.72%; QLTY 0.50%, better
Fund size: JHAC $4M; QLTY $5.4B
1Y total return: JHAC +2.3%; QLTY +17.4%, better
Yield (12M): JHAC 2.28%, better; QLTY 0.65%
Holdings: JHAC 49; QLTY 47
Avg volume (30D): JHAC 246 sh; QLTY 402K sh, better
NAV per share: JHAC $15.61; QLTY $43.53
52W range

ETF.net Grade

Pillar letters and Scores for JHAC, QLTY, with each pillar’s weight
Pillar	JHAC	QLTY
Cost30% weight	D38	A75Higher
Mission25% weight	B64	A77Higher
Risk15% weight	F23	B68Higher
Tradability15% weight	F13	A80Higher
Holdings10% weight	B62	A75Higher
Durability5% weight	C44	A89Higher

Rank among US Active Quality funds

How we build Categories ›

Same Category. JHAC and QLTY are both graded against the same 16 US Active Quality funds, so their Grades compare head to head.

US Active Quality⁠

Category · 16 funds

See all 16 ›

QLTY ranks 2nd and JHAC 12th of 16 funds in the US Active Quality Category.

Rank 1ANPFENpf Core Equity EtfScore 79
Rank 2AQLTYGMO US Quality ETFScore 75
Rank 3BAQECAQE Core ETFScore 66
Rank 11DBWTGBrendan Wood TopGun ETFScore 34
Rank 12DJHACJohn Hancock Fundamental All Cap Core ETFScore 33
Rank 13DNQLTNeuberger Quality Select ETFScore 31

Our read on each fund

ETF.net Research

JHACDJohn Hancock Fundamental All Cap Core ETF

QLTYAGMO US Quality ETF

In short

JHAC A rare shielded active ETF: Manulife's analysts run an all-cap book of cash-generative businesses, and you see a daily tracking basket instead of the full holdings. Fee is 0.72% net of a waiver through July 31, 2027.

QLTY Most quality ETFs run a rules screen. QLTY hands the job to GMO's stock pickers, who buy US companies they judge high quality and chase plain total return. Active conviction, priced like it: 0.50% a year.

Stated mandate

JHAC The fund seeks long-term capital appreciation.

QLTY The Fund seeks total return. It is actively managed and invests primarily in equities of U.S. companies that GMO believes are high quality.

Why people hold it

JHAC Runs under an SEC exemptive order as a semi-transparent ETF: it posts a daily tracking basket designed to closely track the portfolio, keeping the manager's actual trades out of public view.jhinvestments.com jhinvestments.com 2
Go-anywhere equity mandate. At least 80% of net assets in stocks spanning the full capitalization spectrum, with room for up to 20% in foreign issuers and ADRs. No index to hug.jhinvestments.com
Bottom-up research hunting growth drivers, sustainable cash flow and high returns on capital; positions get sold when they hit target valuation or the fundamentals deteriorate.jhinvestments.com
Subadvised by Manulife Investment Management (US), which ran this all-cap strategy as a composite before the ETF opened in 2023.jhinvestments.com

QLTY Actively managed, not index-tracking. GMO's team chooses the US companies it considers high quality, under a straightforward total-return mandate instead of a published factor formula.
GMO's read on quality leans toward wide moats and free cash flow, so the lineup can look meaningfully different from the index-built quality funds it sits beside.
Opened in 2023 and already a multi-billion-dollar fund with moderate daily trading and a quarterly distribution schedule.
The filings match the label: a standard 1940-Act fund holding US equities, screened on quality, no derivative wrapper or offshore complexity.

Worth knowing

JHAC You pay up for the research: 0.72% net of a waiver through July 31, 2027, above the category median, with gross expenses at 5.11% while the asset base stays small.
Fully transparent peers cost less: PSET at 0.15% and QLTY at 0.50%, neither leaning on a waiver.
Small and thinly traded, so spreads can run wide, and the prospectus notes traders tend to charge more when they get less holdings information.jhinvestments.com

QLTY The 0.50% fee runs above the typical quality-cohort charge, and index-built rivals undercut it hard: QUAL at 0.15%, JQUA at 0.12%.
No index to fall back on. Everything rides on GMO's stock selection, and the ETF's own record only starts in 2023.
Mostly on that fee, it sits in the lower half of its US quality peer group even though it does the job its documents describe.

Full JHAC profile⁠

Full QLTY profile⁠

JHAC vs QLTY Holdings

How JHAC and QLTY differ

Overlap by weight

35.4%

Shared holdings make up 44.7% of JHAC and 42.3% of QLTY.

Level by level

Holdings12 in both35.4%
Sector10 Sectors63.7%
Countryby domicile93.8%
Asset classEquity100%

Sector

Sector weights in JHAC and QLTY, widest gap first
Sector	More in JHACMore in QLTY	JHAC	QLTY
Health Care	QLTY +17.3 points	6.3%	23.6%
Consumer Discretionary	JHAC +16.9 points	23.9%	7.0%
Technology	QLTY +10.6 points	27.5%	38.1%
Financials	JHAC +7.8 points	15.9%	8.1%
Consumer Staples	QLTY +5.4 points	1.5%	6.9%
Energy	JHAC +4.9 points	4.9%	0.0%
Real Estate	JHAC +3.5 points	3.5%	0.0%
Communication	QLTY +3.0 points	8.9%	11.9%
Industrials	JHAC +2.6 points	6.5%	3.9%
Materials	JHAC +0.5 points	1.1%	0.6%

Country, concentration and asset class

Country by domicile

Country weights in JHAC and QLTY, widest gap first
Country	More in JHACMore in QLTY	JHAC	QLTY
United States	QLTY +6.2 points	93.8%	100.0%
Canada	JHAC +2.5 points	2.5%	0.0%
Belgium	JHAC +1.5 points	1.5%	0.0%
Israel	JHAC +1.2 points	1.2%	0.0%
Switzerland	JHAC +0.8 points	0.8%	0.0%
Italy	JHAC +0.2 points	0.2%	0.0%

Concentration

Weight in the 10 largest Holdings

JHAC47.5%
QLTY43.4%

Securities held

JHAC49
QLTY46

Asset class

JHAC: Equity
QLTY: Equity

Holdings

Only in JHAC37
In both12
Only in QLTY34

Only in JHAC

37 securities, 55.3% of JHAC by weight

Taiwan Semiconductor Manufacturing Company, Ltd.4.23%
Jh Ctf 20491231 00001.0000000000 0.000%, 12/31/20493.46%
KKR & Company, Inc.3.13%
Cheniere Energy, Inc.2.64%
Lennar Corp.2.54%
Liberty Media Corp.2.31%
McKesson Corp.2.16%
Elevance Health, Inc.1.99%
TransDigm Group, Inc.1.96%
Elanco Animal Health, Inc.1.90%
S&P Global, Inc.1.84%
CarMax, Inc.1.76%
Alnylam Pharmaceuticals, Inc.1.74%
Workday, Inc.1.70%
United Rentals, Inc.1.52%
Vulcan Materials Company1.52%
Vail Resorts, Inc.1.51%
Spotify Technology SA1.47%
Zimmer Biomet Holdings, Inc.1.46%
Ferrari NV1.43%
Cargurus, Inc.1.35%
Arthur J Gallagher & Company1.28%
Haleon PLC1.18%
QUALCOMM, Inc.1.16%
Post Holdings, Inc.1.05%
GE HealthCare Technologies, Inc.0.94%
Millrose Properties, Inc.0.81%
American Tower Corp.0.78%
First Hawaiian, Inc.0.73%
Group 1 Automotive, Inc.0.71%
Regal Rexnord Corp.0.67%
HubSpot, Inc.0.66%
Fortive Corp.0.50%
Adobe, Inc.0.43%
Mobileye Global, Inc.0.38%
Fox Factory Holding Corp.0.26%
Five Point Holdings LLC0.20%

Only in QLTY

34 securities, 57.7% of QLTY by weight

Johnson & Johnson4.44%
Texas Instruments Inc3.96%
Lam Research Corp3.17%
Eli Lilly & Co2.93%
Visa Inc Class A Shares2.41%
Mastercard Inc A2.40%
Abbott Laboratories2.38%
Kla Corp2.25%
Netflix Inc2.16%
Procter & Gamble Co/The2.07%
Aramark1.97%
Hilton Worldwide Holdings In1.88%
Us Bancorp1.77%
Synopsys Inc1.76%
Coca Cola Co/The1.71%
General Electric1.63%
The Cigna Group1.60%
Merck & Co. Inc.1.56%
Elevance Health Inc1.52%
Constellation Brands Inc A1.35%
Tjx Companies Inc1.25%
Intuitive Surgical Inc1.23%
Uber Technologies Inc1.08%
Philip Morris International1.07%
Tradeweb Markets Inc Class A1.06%
Quest Diagnostics Inc1.04%
Martin Marietta Materials1.03%
Home Depot Inc0.89%
Stryker Corp0.88%
Brown Forman Corp Class B0.82%
Moody’s Corp0.74%
Jack Henry & Associates Inc0.65%
State Str Instl Invt Tr0.56%
Ferguson Enterprises Inc0.53%

Weight gaps

All 12 Holdings in both funds, largest gap first.

Holding weights in JHAC and QLTY, widest gap first
Holding	More in JHACMore in QLTY	JHAC	QLTY
Amazon.com, Inc.AMZN	JHAC +3.55 points	7.11%	3.56%
Apple, Inc.AAPL	QLTY +3.28 points	1.10%	4.38%
Thermo Fisher Scientific, Inc.TMO	QLTY +1.57 points	2.81%	4.38%
Roper Technologies, Inc.ROP	JHAC +1.48 points	2.65%	1.17%
Accenture PLCACN	QLTY +1.18 points	0.45%	1.63%
NVIDIA Corp.NVDA	JHAC +1.15 points	4.05%	2.90%
Broadcom, Inc.AVGO	JHAC +1.06 points	4.46%	3.40%
Meta Platforms, Inc.META	JHAC +1.05 points	5.06%	4.01%
UnitedHealth Group, Inc.UNH	QLTY +0.85 points	1.76%	2.61%
Alphabet, Inc., Class AGOOGL	JHAC +0.57 points	4.76%	4.19%
Microsoft Corp.MSFT	JHAC +0.43 points	8.39%	7.96%
salesforce.com, Inc.CRM	QLTY +0.01 points	2.06%	2.07%

All JHAC holdings⁠All QLTY holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

JHAC vs QLTY Cost

Overpaying JHAC vs QLTY

$3,978

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

JHAC 0.72%
$13,957
QLTY 0.50%
$9,979

Amount$10,000

Years30 years

Cost over time

JHAC 0.72%
QLTY 0.50%
Overpaying

Year by year

Year	JHAC	QLTY	Overpaying
10	$1,284	$900	$384
20	$4,888	$3,460	$1,428
30	$13,957	$9,979	$3,978

Expense ratio

0.72%JHAC
0.50%QLTY, cheaper

QLTY0.50%JHAC0.72%

0.40%1.52%

Middle half of US Active Quality funds
Median 0.65%

QLTY 4th cheapest of 16 funds

JHAC 11th cheapest of 16 funds

JHAC vs QLTY Dividends

Last 12 months to Oct 30, 2026

Yield (12M): JHAC 2.28%, better; QLTY 0.65%
Payout (12M): JHAC $0.36; QLTY $0.28
Last payment: JHAC $0.36; QLTY $0.06
Ex-dividend: JHAC Dec 29, 2025; QLTY Sep 30, 2026
Paid on: JHAC Dec 31, 2025; QLTY Oct 1, 2026
Frequency: JHAC Annual; QLTY Quarterly

Distribution history

Per share, 2023 to 2026, same scale for both

JHACAnnual · 3 paymentsAll JHAC payments⁠

QLTYQuarterly · 12 paymentsAll QLTY payments⁠

JHAC vs QLTY Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: JHAC 14.6%since Dec 2023QLTY 11.9%since Dec 2023
Return per unit of riskSharpe ratio, 3 years: JHAC 0.62since Dec 2023QLTY 1.27since Dec 2023
Worst fallMax drawdown, 5 years: JHAC −24.4%since Nov 2023QLTY −17.0%since Nov 2023
Market sensitivityBeta, 5 years: JHAC 1.16QLTY 0.98; Market = 1

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