JHMB vs SECR: Grades, Fees and Holdings Compared

John Hancock Mortgage-Backed Securities ETF

JHMBBNYSE Arca

NYLI MacKay Securitized Income ETF

SECRBNYSE Arca

Overlap

No data

Expense ratio

SECR −0.11pt a year

JHMB0.39%SECR0.28%

Avg volume · 30D

JHMB 11.6×the volume

JHMB54.5KSECR4.69K

JHMB vs SECR Performance

Oct 31, 2025 – Oct 30, 2026

0.0%JHMB−0.1%SECR

Expense ratio: JHMB 0.39%; SECR 0.28%, better
Fund size: JHMB $201M; SECR $160M
1Y total return: JHMB 0.0%, better; SECR −0.1%
Yield (12M): JHMB 4.97%; SECR 6.97%, better
Holdings: JHMB 408; SECR 457
Avg volume (30D): JHMB 54.5K sh, better; SECR 4.69K sh
NAV per share: JHMB $21.23; SECR $24.51
52W range

ETF.net Grade

Pillar letters and Scores for JHMB, SECR, with each pillar’s weight
Pillar	JHMB	SECR
Cost30% weight	C44	A83Higher
Mission25% weight	A94	A96Higher
Risk15% weight	D35Higher	D33
Tradability15% weight	C43Higher	F21
Holdings10% weight	A77Higher	A74
Durability5% weight	B60Higher	D38

Rank among Core Securitized Bond funds

How we build Categories ›

Same Category. JHMB and SECR 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 ›

SECR ranks 3rd 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 3BFSECFIDELITY INVESTMENT GRADE SECURITIZED ETFScore 66
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

SECRBNYLI MacKay Securitized Income 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.

SECR Most securitized bond ETFs stop at agency mortgages. SECR roams the whole structured-credit stack, CMBS, ABS, non-agency RMBS and CLOs, picked by MacKay Shields, at 0.28% net of a waiver through August 28, 2027.

Stated mandate

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

SECR The Fund seeks total return with an emphasis on current income.

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.

SECR At least 80% of assets sit in securitized paper: CMBS, ABS, agency and non-agency RMBS, CMOs and CLOs. Agency-mortgage peers like JMBS and JHMB work a narrower slice.sec.gov
0.28% net of a contractual waiver through August 28, 2027 (0.49% gross), below the category median and under FSEC's 0.36% and JHMB's 0.39% net of a waiver through July 31, 2027.
Actively run by MacKay Shields rather than tracking an index, with income paid monthly and risk spread across roughly 400 positions.nylim.com
Holdings line up with the securitized mandate the filings describe, one of the tidier implementations in this small 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.

SECR Thinly traded, so spreads can run wider than the giant bond ETFs' and bigger orders may need patience.
The 0.28% price tag leans on a waiver through August 28, 2027; the gross expense ratio behind it is 0.49%.
Up to 20% of total assets can sit below investment grade, and non-agency structures carry credit and prepayment risk. The fund has only traded since 2024.sec.gov

Full JHMB profile⁠

Full SECR profile⁠

JHMB vs SECR Holdings

How JHMB and SECR differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile98.5%
Asset classFixed Income100%

Sector

No Sector split for JHMB and SECR.

Country, concentration and asset class

Country by domicile

Country weights in JHMB and SECR, widest gap first
Country	More in JHMBMore in SECR	JHMB	SECR
Cayman Islands	SECR +1.4 points	0.1%	1.5%
United States	JHMB +1.3 points	99.8%	98.5%
Australia	JHMB +0.2 points	0.2%	0.0%

Concentration

Weight in the 10 largest Holdings

JHMB10.3%
SECR15.6%

Securities held

JHMB313
SECR456

Asset class

JHMB: Fixed Income
SECR: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. JHMB holds 313 securities, SECR 456.

All 409 JHMB holdings⁠All 441 SECR 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 SECR Cost

Overpaying JHMB vs SECR

$2,143

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

JHMB 0.39%
$7,898
SECR 0.28%
$5,755

Amount$10,000

Years30 years

Cost over time

JHMB 0.39%
SECR 0.28%
Overpaying

Year by year

Year	JHMB	SECR	Overpaying
10	$705	$509	$196
20	$2,725	$1,976	$749
30	$7,898	$5,755	$2,143

Expense ratio

0.39%JHMB
0.28%SECR, cheaper

SECR0.28%JHMB0.39%

0.21%0.80%

Middle half of Core Securitized Bond funds
Median 0.38%

SECR 2nd cheapest of 10 funds

JHMB 6th cheapest of 10 funds

JHMB vs SECR Dividends

Last 12 months to Oct 30, 2026

Yield (12M): JHMB 4.97%; SECR 6.97%, better
Payout (12M): JHMB $1.05; SECR $1.71
Last payment: JHMB $0.09; SECR $0.11
Ex-dividend: JHMB Oct 28, 2026; SECR Oct 30, 2026
Paid on: JHMB Oct 30, 2026; SECR Pays Nov 3, 2026
Frequency: JHMB Monthly; SECR Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

JHMBMonthly · 46 paymentsAll JHMB payments⁠

SECRMonthly · 29 paymentsAll SECR payments⁠

JHMB vs SECR Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: JHMB 5.8%SECR 4.8%since Jun 2024
Return per unit of riskSharpe ratio, 3 years: JHMB 0.32SECR 0.15since Jun 2024
Worst fallMax drawdown, 5 years: JHMB −14.0%SECR −5.1%since May 2024
Market sensitivityBeta, 5 years: JHMB 1.03SECR 0.12; Market = 1

JHMB and SECR in the news

All news⁠

ETF Launch Alert
T. Rowe Price's TSCZ enters a crowded securitized-income sleeve at 0.20%
Sep 4, 2026SECR

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