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Is John Hancock Multifactor Mid Cap ETF (JHMM) a Strong ETF Right Now?
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Designed to provide broad exposure to the Style Box - Mid Cap Blend category of the market, the John Hancock Multifactor Mid Cap ETF (JHMM - Free Report) is a smart beta exchange traded fund launched on 09/28/2015.
What Are Smart Beta ETFs?
The ETF industry has long been dominated by products based on market cap weighted indexes, a strategy created to reflect the market or a particular market segment.
Market cap weighted indexes work great for investors who believe in market efficiency. They provide a low-cost, convenient and transparent way of replicating market returns.
On the other hand, some investors who believe that it is possible to beat the market by superior stock selection opt to invest in another class of funds that track non-cap weighted strategies--popularly known as smart beta.
This kind of index follows this same mindset, as it attempts to pick stocks that have better chances of risk-return performance; non-cap weighted strategies base selection on certain fundamental characteristics, or a mix of such characteristics.
While this space offers a number of choices to investors, including simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies, not all these strategies have been able to deliver superior results.
Fund Sponsor & Index
The fund is managed by John Hancock, and has been able to amass over $6.1 billion, which makes it one of the larger ETFs in the Style Box - Mid Cap Blend. This particular fund, before fees and expenses, seeks to match the performance of the John Hancock Dimensional Mid Cap Index.
The John Hancock Dimensional Mid Cap Index comprises of a subset of securities in the U.S. Universe issued by companies whose market capitalizations are between the 200th and 951st largest U.S. company.
Cost & Other Expenses
Since cheaper funds tend to produce better results than more expensive funds, assuming all other factors remain equal, it is important for investors to pay attention to an ETF's expense ratio.
Annual operating expenses for this ETF are 0.41%, making it on par with most peer products in the space.
It's 12-month trailing dividend yield comes in at 0.88%.
Sector Exposure and Top Holdings
Even though ETFs offer diversified exposure that minimizes single stock risk, investors should also look at the actual holdings inside the fund. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.
For JHMM, it has heaviest allocation in the Industrials sector --about 18.1% of the portfolio --while Financials and Information Technology round out the top three.
Taking into account individual holdings, Keysight Technologies In (KEYS) accounts for about 0.57% of the fund's total assets, followed by Comfort Systems Usa Inc (FIX) and Coherent Corp (COHR).
JHMM's top 10 holdings account for about 4.9% of its total assets under management.
Performance and Risk
The ETF has added roughly 14.22% so far this year and it's up approximately 16.56% in the last one year (as of 10/30/2026). In the past 52-week period, it has traded between $62.01 and $77.35
JHMM has a beta of 0.99 and standard deviation of 15.84% for the trailing three-year period, which makes the fund a medium risk choice in the space. With about 660 holdings, it effectively diversifies company-specific risk .
Alternatives
John Hancock Multifactor Mid Cap ETF is a reasonable option for investors seeking to outperform the Style Box - Mid Cap Blend segment of the market. However, there are other ETFs in the space which investors could consider.
Vanguard Morningstar Mid-Cap ETF (VO) tracks CRSP US Mid Cap Index and the iShares Core S&P Mid-Cap ETF (IJH) tracks S&P MidCap 400 Index. Vanguard Morningstar Mid-Cap ETF has $108.24 billion in assets, iShares Core S&P Mid-Cap ETF has $124.14 billion. VO has an expense ratio of 0.03% and IJH changes 0.05%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - Mid Cap Blend
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
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Is John Hancock Multifactor Mid Cap ETF (JHMM) a Strong ETF Right Now?
Designed to provide broad exposure to the Style Box - Mid Cap Blend category of the market, the John Hancock Multifactor Mid Cap ETF (JHMM - Free Report) is a smart beta exchange traded fund launched on 09/28/2015.
What Are Smart Beta ETFs?
The ETF industry has long been dominated by products based on market cap weighted indexes, a strategy created to reflect the market or a particular market segment.
Market cap weighted indexes work great for investors who believe in market efficiency. They provide a low-cost, convenient and transparent way of replicating market returns.
On the other hand, some investors who believe that it is possible to beat the market by superior stock selection opt to invest in another class of funds that track non-cap weighted strategies--popularly known as smart beta.
This kind of index follows this same mindset, as it attempts to pick stocks that have better chances of risk-return performance; non-cap weighted strategies base selection on certain fundamental characteristics, or a mix of such characteristics.
While this space offers a number of choices to investors, including simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies, not all these strategies have been able to deliver superior results.
Fund Sponsor & Index
The fund is managed by John Hancock, and has been able to amass over $6.1 billion, which makes it one of the larger ETFs in the Style Box - Mid Cap Blend. This particular fund, before fees and expenses, seeks to match the performance of the John Hancock Dimensional Mid Cap Index.
The John Hancock Dimensional Mid Cap Index comprises of a subset of securities in the U.S. Universe issued by companies whose market capitalizations are between the 200th and 951st largest U.S. company.
Cost & Other Expenses
Since cheaper funds tend to produce better results than more expensive funds, assuming all other factors remain equal, it is important for investors to pay attention to an ETF's expense ratio.
Annual operating expenses for this ETF are 0.41%, making it on par with most peer products in the space.
It's 12-month trailing dividend yield comes in at 0.88%.
Sector Exposure and Top Holdings
Even though ETFs offer diversified exposure that minimizes single stock risk, investors should also look at the actual holdings inside the fund. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.
For JHMM, it has heaviest allocation in the Industrials sector --about 18.1% of the portfolio --while Financials and Information Technology round out the top three.
Taking into account individual holdings, Keysight Technologies In (KEYS) accounts for about 0.57% of the fund's total assets, followed by Comfort Systems Usa Inc (FIX) and Coherent Corp (COHR).
JHMM's top 10 holdings account for about 4.9% of its total assets under management.
Performance and Risk
The ETF has added roughly 14.22% so far this year and it's up approximately 16.56% in the last one year (as of 10/30/2026). In the past 52-week period, it has traded between $62.01 and $77.35
JHMM has a beta of 0.99 and standard deviation of 15.84% for the trailing three-year period, which makes the fund a medium risk choice in the space. With about 660 holdings, it effectively diversifies company-specific risk .
Alternatives
John Hancock Multifactor Mid Cap ETF is a reasonable option for investors seeking to outperform the Style Box - Mid Cap Blend segment of the market. However, there are other ETFs in the space which investors could consider.
Vanguard Morningstar Mid-Cap ETF (VO) tracks CRSP US Mid Cap Index and the iShares Core S&P Mid-Cap ETF (IJH) tracks S&P MidCap 400 Index. Vanguard Morningstar Mid-Cap ETF has $108.24 billion in assets, iShares Core S&P Mid-Cap ETF has $124.14 billion. VO has an expense ratio of 0.03% and IJH changes 0.05%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - Mid Cap Blend
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.