FMHI vs JHMU
First Trust Municipal High Income ETF vs John Hancock Dynamic Municipal Bond ETF
Which is better, FMHI or JHMU?
Nearly the same fund. JHMU costs less.
JHMU has a lower expense ratio. JHMU led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.96.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | FMHI | JHMU |
|---|---|---|
| Expense Ratio | 0.49% | 0.39%Best |
| AUM | $1.1B | $105M |
| Dividend Yield | 4.55% | 3.73% |
| Holdings | 2,277 | 511 |
| YTD Return | +0.22% | +0.74%Best |
| 1Y Return | +0.33% | +1.36%Best |
| 3Y Return (annualized) | +4.92% | +5.24%Best |
| 5Y Return (annualized) | +0.09% | - |
| Volatility (annualized) | 5.5% | 4.8%Best |
| Max Drawdown | -7.4% | -6.2%Best |
| $10,000 over 3 years | $11,696 | $11,826Best |
| Fund Family | First Trust Portfolios (US) | John Hancock Investment Management |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Nov 2, 2017 | Nov 1, 2023 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 3 years row, are measured over the window both funds cover: Nov 2, 2023 to Nov 12, 2026 (3 years).
FMHI vs JHMU growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 3 years both funds cover.
FMHI vs JHMU Performance
First Trust Municipal High Income ETF (FMHI) is an ETF from First Trust Portfolios (US) and John Hancock Dynamic Municipal Bond ETF (JHMU) is an ETF from John Hancock Investment Management. Over the past year FMHI returned +0.33% while JHMU returned +1.36%. Year to date, FMHI is up 0.22% versus a gain of 0.74% for JHMU.
Over three years, FMHI compounded at +4.92% per year against +5.24% for JHMU.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FMHI has been the more volatile fund, with annualized monthly volatility of 5.5% compared with 4.8% for JHMU. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -7.4% for FMHI and -6.2% for JHMU. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.96. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FMHI charges 0.49% per year while JHMU charges 0.39%. On a $10,000 position that is $49 vs $39 annually, a gap of $10 per year that compounds over a long holding period. On income, FMHI currently yields 4.55% against 3.73% for JHMU.
Holdings Overlap
We hold position weights for 468 holdings in FMHI and 130 in JHMU, totalling 57.6% and 32.4% of the two funds. Neither is a share of a fund we can divide by, so no overlap percentage is shown here. Within what we can see, 13 positions appear in both.
13 positions in common, counted across the 468 positions we hold weights for in FMHI and 130 in JHMU, against full books of 2,277 and 511.
Top Shared Holdings
| Stock | Weight in FMHI | Weight in JHMU | Difference |
|---|---|---|---|
| WA PTSGEN 5 08/01/20Port Of Seattle Wa Revenue | 0.10% | 0.60% | 0.50% |
| TN TNSUTL 05/01/2053Tennessee St Energy Acquisitio Regd V/R B/E 5.00000000 | 0.08% | 0.54% | 0.46% |
| GA MAIUTL 05/01/2054Main Street Natural Gas Inc Maiutl 05/54 Adjustable Var 5 2054-05-01 | 0.20% | 0.27% | 0.07% |
| TX TXSTRN 5.5 06/30/Texas St Priv Activity Bond Su Regd B/E Amt 5.50000000 | 0.18% | 0.27% | 0.09% |
| GA MAIUTL 09/01/2052Main Street Natural Gas Inc 4.00% 09/01/2052 | 0.17% | 0.26% | 0.09% |
| NY NYTTRN 4.38 10/01New York Transportation Development Corp 4.38% 10/01/2045 | 0.22% | 0.21% | 0.01% |
| AZ PHOEDU 5 07/01/20Industrial Development Authority Of The City Of Phoenix Arizona/The 5 07-01-2045 | 0.18% | 0.24% | 0.06% |
| NY NYTTRN 6 06/30/20New York St Transprtn Dev Corp Nyttrn 06/54 Fixed 6 | 0.10% | 0.21% | 0.11% |
| CT CTSHGR 5 07/01/20Connecticut Health And Educational Facilities Authority, Revenue Bonds, Fairfield University, Series 2025V | 0.13% | 0.16% | 0.03% |
| MA MASDEV 5 07/01/20Massachusetts Development Fina Masdev 07/44 Fixed 5 | 0.09% | 0.13% | 0.04% |
You are not choosing between two funds in isolation.
Whichever of FMHI and JHMU you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FMHI or JHMU?
FMHI has an expense ratio of 0.49% while JHMU charges 0.39%. JHMU is the cheaper option, by $10 a year on a $10,000 investment.
Which performed better, FMHI or JHMU?
Over the past year FMHI returned +0.33% vs +1.36% for JHMU, so JHMU leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FMHI or JHMU?
FMHI has been the more volatile fund at 5.5% annualized versus 4.8% for JHMU. Worst drawdown: FMHI -7.4% vs JHMU -6.2%.
Should I hold both FMHI and JHMU?
FMHI and JHMU have a monthly-return correlation of 0.96, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, FMHI or JHMU?
FMHI yields 4.55% while JHMU yields 3.73%, so FMHI currently pays the higher dividend yield.
Is JHMU better than FMHI?
JHMU has a lower expense ratio. JHMU led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.96. Which one suits a particular account depends on what it is for. This is information, not a recommendation.