JHMB vs JMBS: Grades, Fees and Holdings Compared

John Hancock Mortgage-Backed Securities ETF

JHMBBNYSE Arca

Janus Henderson Mortgage-Backed Securities ETF

JMBSANYSE Arca

Overlap

No data

Expense ratio

JMBS −0.18pt a year

JHMB0.39%JMBS0.21%

Avg volume · 30D

JMBS 15.4×the volume

JHMB54.5KJMBS841K

5Y return · a year

JHMB +0.8pt

JHMB+1.3%JMBS+0.5%

JHMB vs JMBS Performance

Oct 29, 2021 – Oct 30, 2026

+6.5%JHMB+2.4%JMBS

Expense ratio: JHMB 0.39%; JMBS 0.21%, better
Fund size: JHMB $201M; JMBS $6.37B
1Y total return: JHMB 0.0%; JMBS +0.1%, better
Yield (12M): JHMB 4.97%; JMBS 5.85%, better
Holdings: JHMB 408; JMBS 415
Avg volume (30D): JHMB 54.5K sh; JMBS 841K sh, better
NAV per share: JHMB $21.23; JMBS $43.40
52W range

ETF.net Grade

Pillar letters and Scores for JHMB, JMBS, with each pillar’s weight
Pillar	JHMB	JMBS
Cost30% weight	C44	A93Higher
Mission25% weight	A94	A100Higher
Risk15% weight	D35	D35
Tradability15% weight	C43	A90Higher
Holdings10% weight	A77Higher	F16
Durability5% weight	B60	A82Higher

Rank among Core Securitized Bond funds

How we build Categories ›

Same Category. JHMB and JMBS are both graded against the same 10 Core Securitized Bond funds, so their Grades compare head to head.

Core Securitized Bond⁠

Category · 10 funds

See all 10 ›

JMBS ranks 1st and JHMB 5th of 10 funds in the Core Securitized Bond Category.

Rank 1AJMBSJanus Henderson Mortgage-Backed Securities ETFScore 77
Rank 2BJPLDJPMorgan Limited Duration Bond ETFScore 69
Rank 3BSECRNYLI MacKay Securitized Income ETFScore 66
Rank 5BJHMBJohn Hancock Mortgage-Backed Securities ETFScore 59
Rank 6BTRBFAngel Oak Total Return ETFScore 55

Our read on each fund

ETF.net Research

JHMBBJohn Hancock Mortgage-Backed Securities ETF

JMBSAJanus Henderson Mortgage-Backed Securities ETF

In short

JHMB An actively run mortgage-bond specialist from John Hancock, sub-advised by affiliate Manulife: at least 80% in mortgage-backed securities, agency and private-label, with room for other asset-backed paper and CLOs. Pays monthly.

JMBS The original actively managed mortgage-backed securities ETF, launched in 2018. Rather than replicate the MBS index, the team picks through agency mortgage bonds, a corner of the market where prepayment behavior makes security selection its own craft.

Stated mandate

JHMB Seeks exposure to mortgage-backed securities and related mortgage instruments by investing in mortgage-backed securities and related asset-backed instruments.

JMBS The fund seeks a high level of total return through both income and capital appreciation.

Why people hold it

JHMB Not an index fund: the Manulife team seeks a high level of current income and aims to beat the Bloomberg U.S. MBS Index over a market cycle via bottom-up issue selection.jhinvestments.com jhinvestments.com 2
Wide toolkit, tight label: agency and private-label mortgage bonds, residential and commercial, plus to-be-announced contracts, in roughly 400 positions matching the mandate.jhinvestments.com
0.39% net of a waiver through July 31, 2027 (0.47% gross), near the median for its securitized peers, with monthly distributions.

JMBS Charges 0.21% a year against a 0.36% median for its bond peer group, and that buys an active specialist mandate rather than an index tracker.
First mover: Janus Henderson launched it in 2018 as the first actively managed MBS ETF in the US, and it now runs several hundred mortgage bonds.prnewswire.com
A multi-billion-dollar fund that trades actively and pays monthly, which is a real edge in a corner of the bond market where most products stay small.
Does what its documents say it does, and stands as one of the stronger implementations in its broad-bond peer group.

Worth knowing

JHMB That 0.39% leans on a waiver running through July 31, 2027; gross is 0.47%. Active peer JMBS charges 0.21% with no waiver attached.
Credit reaches past plain agency paper: up to 20% in below-investment-grade bonds at purchase and up to 20% outside MBS in other ABS and CLOs.jhinvestments.com
Mid-sized and moderately traded, so spreads can run wider than in the category's most-traded names.

JMBS This is one slice of the bond market, not a whole-market core. Broad aggregate funds such as BND, SPAB and SCHZ cover the full index for 0.03%.
Mortgage bonds prepay. Homeowners refinance when rates fall and sit tight when they rise, so the portfolio's cash flows and rate sensitivity shift with the cycle.janushenderson.com
The mandate targets total return from income plus price moves, so the monthly payout is not a fixed rate and the manager's calls drive the result.

Full JHMB profile⁠

Full JMBS profile⁠

JHMB vs JMBS Holdings

How JHMB and JMBS differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Asset classFixed Income100%
Countryby domicile99.8%

Sector

No Sector split for JHMB and JMBS.

Country, concentration and asset class

Country by domicile

Country weights in JHMB and JMBS, widest gap first
Country	More in JHMBMore in JMBS	JHMB	JMBS
United States	JMBS +0.2 points	99.8%	100.0%
Australia	JHMB +0.2 points	0.2%	0.0%
Cayman Islands	JHMB +0.1 points	0.1%	0.0%

Concentration

Weight in the 10 largest Holdings

JHMB10.3%
JMBS59.3%

Securities held

JHMB313
JMBS412

Asset class

JHMB: Fixed Income
JMBS: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. JHMB holds 313 securities, JMBS 412.

All 409 JHMB holdings⁠All 418 JMBS 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.

JHMB vs JMBS Cost

Overpaying JHMB vs JMBS

$3,541

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

JHMB 0.39%
$7,898
JMBS 0.21%
$4,357

Amount$10,000

Years30 years

Cost over time

JHMB 0.39%
JMBS 0.21%
Overpaying

Year by year

Year	JHMB	JMBS	Overpaying
10	$705	$383	$322
20	$2,725	$1,491	$1,234
30	$7,898	$4,357	$3,541

Expense ratio

0.39%JHMB
0.21%JMBS, cheaper

JMBS0.21%JHMB0.39%

0.21%0.80%

Middle half of Core Securitized Bond funds
Median 0.38%

JMBS cheapest of 10 funds

JHMB 6th cheapest of 10 funds

JHMB vs JMBS Dividends

Last 12 months to Oct 30, 2026

Yield (12M): JHMB 4.97%; JMBS 5.85%, better
Payout (12M): JHMB $1.05; JMBS $2.54
Last payment: JHMB $0.09; JMBS $0.19
Ex-dividend: JHMB Oct 28, 2026; JMBS Oct 30, 2026
Paid on: JHMB Oct 30, 2026; JMBS Pays Nov 5, 2026
Frequency: JHMB Monthly; JMBS Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

JHMBMonthly · 46 paymentsAll JHMB payments⁠

JMBSMonthly · 46 paymentsAll JMBS payments⁠

JHMB vs JMBS Risk

Fall from peak · 5 years

JHMB
JMBS

Risk facts

VolatilityStd dev, 3 years: JHMB 5.8%, betterJMBS 6.9%
Return per unit of riskSharpe ratio, 3 years: JHMB 0.32, betterJMBS 0.31
Worst fallMax drawdown, 5 years: JHMB −14.0%, betterJMBS −16.5%
Market sensitivityBeta, 5 years: JHMB 1.03JMBS 1.20; Market = 1

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