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Trending ETFs

Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$9.26

$559 M

0.00%

1.30%

Vitals

YTD Return

3.3%

1 yr return

2.4%

3 Yr Avg Return

-1.1%

5 Yr Avg Return

N/A

Net Assets

$559 M

Holdings in Top 10

58.2%

52 WEEK LOW AND HIGH

$9.2
$8.94
$10.93

Expenses

OPERATING FEES

Expense Ratio 1.30%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$9.26

$559 M

0.00%

1.30%

JDJRX - Profile

Distributions

  • YTD Total Return 3.3%
  • 3 Yr Annualized Total Return -1.1%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -1.30%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    JHancock Diversified Macro Fund
  • Fund Family Name
    John Hancock
  • Inception Date
    Jul 29, 2019
  • Shares Outstanding
    18699003
  • Share Class
    Retirement
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Kenneth Tropin

Fund Description

The fund pursues its investment objective by utilizing a multi-asset, quantitatively-driven investment strategy that seeks to provide exposure to diversified sources of return. The fund’s investment strategy is a directional, long and short strategy that utilizes fundamental and price-based indicators to establish return forecasts across a broad range of asset classes globally. The investment strategy incorporates a variety of models that generate macro fundamental forecasts, assess yield and earnings differentials, compare current valuations relative to historic fair value, and analyze directional price trends across markets.
The manager will allocate the fund’s assets across a range of asset classes comprising equities, fixed income, foreign currencies, and commodities. Exposure to these asset classes will be implemented by investing in derivative instruments, including futures (including equity index futures, interest rate futures, bond futures and commodity futures) and foreign currency forward contracts.
Quantitative risk management and portfolio construction techniques will be employed to control exposure across individual markets and sectors in an effort to enhance returns as well as to maintain the fund’s diversification and volatility objectives. The fund is actively managed and the fund’s asset class exposures will vary over time based on the manager’s proprietary investment models and, in part, on maintaining portfolio diversification. The fund expects to maintain exposure to all models at all times. The fund, on average, will target an annualized volatility of approximately 8%. Volatility is a statistical measurement of the dispersion of returns of a security or fund or index. The fund’s actual or realized volatility level for longer or shorter periods of time may be materially higher or lower depending on market conditions.
The fund is generally intended to have a low correlation to the equity and bond markets. The fund is not designed to match the performance of any hedge fund index or benchmark and may be characterized as “macro” or “multi-asset” in nature.
The fund’s use of derivatives will have the economic effect of financial leverage. Financial leverage magnifies exposure to the swings in prices of an asset class underlying an instrument and results in increased volatility, which means the fund will have the potential for greater gains as well as the potential for greater losses than if the fund does not use instruments that have a leveraging effect.
Due to the fund’s use of derivative instruments such as futures, foreign currency futures and forward contracts, a significant portion of the fund’s assets will be invested directly or indirectly in money market instruments, which may include U.S. Government securities, U.S. Government agency securities, overnight and/or fixed-term repurchase agreements, money market mutual fund shares and cash and cash equivalents for use as margin or collateral for these derivative instruments. Such investments may generate income for the fund.
Investment in the Subsidiary. The fund may gain exposure to the commodities markets by investing up to 25% of its total assets in a wholly-owned subsidiary of the fund organized as a company under the laws of the Cayman Islands: John Hancock Diversified Macro Offshore Subsidiary Fund, Ltd. (the Subsidiary). The Subsidiary is advised by the subadvisor, under the supervision of the advisor, and seeks to gain commodities exposure.
The Subsidiary primarily obtains its commodity exposure by investing in commodity-linked derivative instruments, which may include but are not limited to total return swaps, commodity (U.S. or foreign) futures and commodity-linked notes. Neither the fund nor the Subsidiary intends to invest directly in physical commodities. The Subsidiary may also invest in other instruments, including fixed-income securities, either as investments or to serve as margin or collateral for its swap positions, and foreign currency transactions (including forward contracts).
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JDJRX - Performance

Return Ranking - Trailing

Period JDJRX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.3% -73.0% 19.4% 75.27%
1 Yr 2.4% -9.1% 86.9% 75.27%
3 Yr -1.1%* -9.5% 16.2% N/A
5 Yr N/A* -4.9% 14.4% N/A
10 Yr N/A* -0.9% 7.5% N/A

* Annualized

Return Ranking - Calendar

Period JDJRX Return Category Return Low Category Return High Rank in Category (%)
2022 1.0% -22.7% 305.1% 77.78%
2021 -2.8% -9.8% 27.3% N/A
2020 -1.4% -20.8% 10.9% N/A
2019 N/A -12.4% 29.4% N/A
2018 N/A -10.5% 15.8% N/A

Total Return Ranking - Trailing

Period JDJRX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.3% -73.0% 19.4% 75.27%
1 Yr 2.4% -13.4% 86.9% 68.73%
3 Yr -1.1%* -9.5% 16.2% N/A
5 Yr N/A* -5.3% 14.4% N/A
10 Yr N/A* -0.9% 7.5% N/A

* Annualized

Total Return Ranking - Calendar

Period JDJRX Return Category Return Low Category Return High Rank in Category (%)
2022 1.0% -22.7% 305.1% 77.78%
2021 -2.8% -9.8% 27.3% N/A
2020 -1.4% -20.8% 10.9% N/A
2019 N/A -8.4% 29.4% N/A
2018 N/A -10.2% 18.0% N/A

NAV & Total Return History


JDJRX - Holdings

Concentration Analysis

JDJRX Category Low Category High JDJRX % Rank
Net Assets 559 M 1.5 M 5.01 B 38.01%
Number of Holdings 44 4 4478 86.93%
Net Assets in Top 10 226 M -398 M 2.55 B 19.79%
Weighting of Top 10 58.20% 13.1% 100.0% 74.77%

Top 10 Holdings

  1. 2 Year Treasury Note Future June 22 54.31%
  2. 2 Year Treasury Note Future June 22 54.31%
  3. 2 Year Treasury Note Future June 22 54.31%
  4. 2 Year Treasury Note Future June 22 54.31%
  5. 2 Year Treasury Note Future June 22 54.31%
  6. 2 Year Treasury Note Future June 22 54.31%
  7. 2 Year Treasury Note Future June 22 54.31%
  8. 2 Year Treasury Note Future June 22 54.31%
  9. 2 Year Treasury Note Future June 22 54.31%
  10. 2 Year Treasury Note Future June 22 54.31%

Asset Allocation

Weighting Return Low Return High JDJRX % Rank
Cash
250.69% -6278.21% 410.43% 68.90%
Other
11.95% -21.53% 148.54% 53.71%
Stocks
5.12% -3.75% 97.95% 73.50%
Preferred Stocks
0.01% -0.12% 46.97% 82.33%
Convertible Bonds
0.00% 0.00% 87.92% 91.52%
Bonds
-167.77% -326.45% 6347.80% 12.37%

JDJRX - Expenses

Operational Fees

JDJRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.30% 0.29% 31.15% 69.42%
Management Fee 1.20% 0.00% 2.50% 67.49%
12b-1 Fee 0.00% 0.00% 1.00% 15.54%
Administrative Fee N/A 0.01% 0.30% N/A

Sales Fees

JDJRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

JDJRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

JDJRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 491.00% 6.05%

JDJRX - Distributions

Dividend Yield Analysis

JDJRX Category Low Category High JDJRX % Rank
Dividend Yield 0.00% 0.00% 4.56% 78.09%

Dividend Distribution Analysis

JDJRX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Quarterly Annually

Net Income Ratio Analysis

JDJRX Category Low Category High JDJRX % Rank
Net Income Ratio -1.30% -2.51% 6.83% 94.96%

Capital Gain Distribution Analysis

JDJRX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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JDJRX - Fund Manager Analysis

Managers

Kenneth Tropin


Start Date

Tenure

Tenure Rank

Jul 29, 2019

2.84

2.8%

Kenneth G. Tropin is Chairman, Founder and a Principal of Graham Capital Management (“GCM”). In May 1994, he founded GCM and became an Associated Person and Principal effective July 27, 1994. Mr. Tropin developed the firm's original trading programs and is responsible for the overall management of the organization, including the investment of its proprietary trading capital. Mr. Tropin’s current responsibilities at Graham include oversight of the Firm’s quantitative research process and discretionary portfolio managers, Chairman of the Firm’s Management and Investment Committees, and Senior Member of the Firm’s Risk and Compliance Committees. Additionally, Mr. Tropin is responsible for managing the strategic investment of the Firm’s proprietary capital. Prior to founding Graham, Mr. Tropin had significant experience in the alternative investment industry, including 5 years (1989-1993) as President and Chief Executive Officer of John W. Henry & Company, Inc. and 8 years (1981-1989) as Senior Vice President and Director of Managed Futures at Dean Witter Reynolds. Mr. Tropin has also served as Chairman of the Managed Funds Association and its predecessor organization, which he was instrumental in founding during the 1980’s.

Pablo Calderini


Start Date

Tenure

Tenure Rank

Jul 29, 2019

2.84

2.8%

Pablo Calderini is the President and Chief Investment Officer of GCM and, among other things, is responsible for the management and oversight of the discretionary and systematic trading businesses at GCM. He joined GCM in August 2010 and became an Associated Person and Principal of GCM effective August 13, 2010. Prior to joining GCM, Mr. Calderini worked at Deutsche Bank from June 1997 to July 2010 where he held positions of increasing responsibility, most recently the Global Head of Equity Proprietary Trading. Mr. Calderini commenced his career at Deutsche Bank as Global Head of Emerging Markets. During his tenure at Deutsche Bank, Mr. Calderini also helped manage several groups across the fixed income and equity platforms, including the Global Credit Derivatives Team. Mr. Calderini received a B.A. in Economics from Universidad Nacional de Rosario in 1987 and a Masters in Economics from Universidad del Cema in 1988, each in Argentina.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.02 17.37 4.48 1.67