JHMU vs MFLX
John Hancock Dynamic Municipal Bond ETF vs First Trust Flexible Municipal High Income ETF
Which is better, JHMU or MFLX?
Nearly the same fund. JHMU costs less.
JHMU has a lower expense ratio. JHMU led over 1Y and the full window, MFLX over 3Y. The two have moved almost in lockstep, correlation 0.97.
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 | JHMU | MFLX |
|---|---|---|
| Expense Ratio | 0.39%Best | 0.49% |
| AUM | $105M | $20M |
| Dividend Yield | 3.73% | 4.40% |
| Holdings | 511 | 241 |
| YTD Return | +1.43%Best | +1.19% |
| 1Y Return | +1.83%Best | +0.92% |
| 3Y Return (annualized) | +5.48% | +5.84%Best |
| 5Y Return (annualized) | - | -0.81% |
| Volatility (annualized) | 4.8%Best | 6.7% |
| Max Drawdown | -6.2%Best | -8.8% |
| $10,000 over 3 years | $11,907Best | $11,873 |
| Fund Family | John Hancock Investment Management | First Trust Portfolios (US) |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Nov 1, 2023 | Sep 27, 2016 |
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 11, 2026 (3 years).
JHMU vs MFLX 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.
JHMU vs MFLX Performance
John Hancock Dynamic Municipal Bond ETF (JHMU) is an ETF from John Hancock Investment Management and First Trust Flexible Municipal High Income ETF (MFLX) is an ETF from First Trust Portfolios (US). Over the past year JHMU returned +1.83% while MFLX returned +0.92%. Year to date, JHMU is up 1.43% versus a gain of 1.19% for MFLX.
Over three years, JHMU compounded at +5.48% per year against +5.84% for MFLX.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MFLX has been the more volatile fund, with annualized monthly volatility of 6.7% 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 -6.2% for JHMU and -8.8% for MFLX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.97. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
JHMU charges 0.39% per year while MFLX charges 0.49%. On a $10,000 position that is $39 vs $49 annually, a gap of $10 per year that compounds over a long holding period. On income, JHMU currently yields 3.73% against 4.40% for MFLX.
Holdings Overlap
We hold position weights for 130 holdings in JHMU and 35 in MFLX, totalling 32.4% and 43.2% 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, 3 positions appear in both.
3 positions in common, counted across the 130 positions we hold weights for in JHMU and 35 in MFLX, against full books of 511 and 241.
Top Shared Holdings
| Stock | Weight in JHMU | Weight in MFLX | Difference |
|---|---|---|---|
| TX TMGUTL 01/01/2054Texas St Muni Gas Acquisition & Sply Corp Iv Variable Rate, Due 01/01/2054 | 0.33% | 1.31% | 0.98% |
| VT VTSDEV 4 05/01/20Vermont Economic Development Authority, Mortgage Revenue Bonds, Wake Robin Corporation Project, Series 2021A | 0.10% | 1.44% | 1.34% |
| GA MAIUTL 09/01/2052Main Street Natural Gas Inc 4.00% 09/01/2052 | 0.26% | 1.24% | 0.98% |
You are not choosing between two funds in isolation.
Whichever of JHMU and MFLX 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, JHMU or MFLX?
JHMU has an expense ratio of 0.39% while MFLX charges 0.49%. JHMU is the cheaper option, by $10 a year on a $10,000 investment.
Which performed better, JHMU or MFLX?
Over the past year JHMU returned +1.83% vs +0.92% for MFLX, so JHMU leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, JHMU or MFLX?
MFLX has been the more volatile fund at 6.7% annualized versus 4.8% for JHMU. Worst drawdown: JHMU -6.2% vs MFLX -8.8%.
Should I hold both JHMU and MFLX?
JHMU and MFLX have a monthly-return correlation of 0.97, 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, JHMU or MFLX?
JHMU yields 3.73% while MFLX yields 4.40%, so MFLX currently pays the higher dividend yield.
Is MFLX better than JHMU?
JHMU has a lower expense ratio. JHMU led over 1Y and the full window, MFLX over 3Y. The two have moved almost in lockstep, correlation 0.97. Which one suits a particular account depends on what it is for. This is information, not a recommendation.