Fund Evaluator:
JHancock Alternative Asset Allc R6 (JAARX)
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Best Performing in Multistrategy Over the Last Year
| 35.9% | AQR Alternative Risk Premia N (QRPNX) |
| 21.4% | AQR Style Premia Alternative N (QSPNX) |
| 14.2% | Goldman Sachs Multi-Strategy Alts Inv (GIMMX) |
| 13.0% | AQR Diversifying Strategies N (QDSNX) |
| 12.7% | Blackstone Alternative Multi-Strategy Y (BXMYX) |
Fund Details
JHancock Alternative Asset Allc R6 Overview
JHancock Alternative Asset Allc R6 (JAARX) is an actively managed Alternative Multistrategy fund. John Hancock launched the fund in 2011.
The investment seeks long-term growth of capital. The fund allocates its assets among other affiliated and unaffiliated underlying funds, including exchange-traded funds (ETFs), that emphasize alternative or nontraditional asset categories or investment strategies such as international small-cap stocks, emerging-market equity, commodities, market neutral (long/short), global real estate, natural resources, TIPS (Treasury Inflation-Protected Securities), global bonds, high yield, bank loans, foreign currency trading strategies, absolute return strategies, managed futures, arbitrage strategies, tactical investment strategies, and emerging-market debt.
About JHancock Alternative Asset Allc R6 (JAARX)
There are 2 members of the management team with an average tenure of 10.84 years: Nathan Thooft (2013), Christopher Walsh (2018). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and HFRX Global Hedge Fund USD index with a weighting of 100%. JHancock Alternative Asset Allc R6 has 19 securities in its portfolio. The top 10 holdings constitute 89.9% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
JHancock Alternative Asset Allc R6 is part of the Alternative Strategies global asset class and is within the Alternative fund group. JHancock Alternative Asset Allc R6 has 34.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 25.1%. There is 26.5% allocated to foreign stock, and 0.4% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 12.8% (4.4% domestic bond, 8.4% foreign bond and 4.9% convertible bond). JHancock Alternative Asset Allc R6 has 34.5% of the portfolio in cash.
Assets Under Management
The fund has $38 million in total assets, which is below the $511 million average for the Multistrategy category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
JAARX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The JHancock Alternative Asset Allc R6 expense ratio is high compared to funds in the Multistrategy category. JHancock Alternative Asset Allc R6 has an expense ratio of 1.29%, which is 37% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. JHancock Alternative Asset Allc R6 has a portfolio turnover rate of 33%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 289% for the Multistrategy category.
Recently, in the month of July 2026, JHancock Alternative Asset Allc R6 returned 1.1%, which earned it a grade of B, as the Multistrategy category had an average return of 0.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
JHancock Alternative Asset Allc R6 has a trailing yield of 1.80%, which is below the 2.97% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
JHancock Alternative Asset Allc R6 Grades
Year to date, the fund has returned 6.8%, 1.6 percentage points better than the category, which translates into a grade of B. The fund has returned 10.8% over the past year (grade of C), 7.4% over the past three years (grade of C) and 4.8% per year over the past five years (grade of C) and 4.6% per year over the past 10 years (grade of B).
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JAARX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| JAARX Return (NAV) | 1.1% | 1.2% | 10.8% | 7.4% | 4.8% | 4.6% |
| JAARX Grade | B | D | C | C | C | B |
| +/- Category | 0.3% | -0.6% | 0.0% | -0.3% | -0.5% | 0.9% |
| Multistrategy Avg | 0.8% | 1.8% | 10.8% | 7.7% | 5.3% | 3.7% |
| JAARX Tax Cost Ratio | na | na | 0.7% | 0.6% | 0.8% | 0.8% |
JAARX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| JAARX Return (NAV) | 6.8% | 6.7% | 7.0% | 6.3% | -2.7% | 5.2% | 4.8% | 9.4% | -3.7% | 6.5% | 3.5% |
| JAARX Grade | B | C | C | B | C | C | B | B | C | B | B |
| +/- Category | 1.6% | -1.2% | 0.9% | -0.2% | -2.3% | -1.1% | 2.8% | 2.4% | 1.1% | 1.5% | 1.5% |
| Multistrategy Avg | 5.3% | 7.8% | 6.1% | 6.4% | -0.4% | 6.2% | 2.0% | 7.0% | -4.9% | 5.0% | 2.0% |
| Risk Measures | |
| Standard Deviation: | 3.8% |
| Total Risk Index: | 0.31 - Low |
| Category Risk Index: | 0.68 - Below Average |
| Category Risk Grade: | B (34% Rank) |
| Beta: | 0.26 |
| R-Squared: | 73% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | na |
| Yield: | 1.8% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1708 Mil |
| Fund Total Assets: | $ 39 Mil |
| Share Class Type: | Retirement |
| Portfolio Turnover: | 33% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 13.2 years | |||
| Average Tenure: 10.8 years | |||
| Managers (Year): Thooft Nathan (2013), Walsh Christopher (2018) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 19 |
| % in Top 10 Holdings: | 89.9% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 34.8% |
Portfolio Allocation |
|
| Domestic Stock: | 25.1% |
| Foreign Stock: | 26.5% |
| Preferred Stock: | 0.4% |
| Domestic Bond: | 4.4% |
| Foreign Bond: | 8.4% |
| Convertible Bond: | 4.9% |
| Other: | -4.2% |
| Cash: | 34.5% |
Purchase Information
| Fund Family: | John Hancock |
| Phone Number: | 888-972-8696 |
| Website: | www.jhfunds.com |
| Status: | Open |
| Inception Date: | September 1, 2011 |
| Min. Initial Purchase: | $1,000,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.29% ( Rating : High ) |
| Category Average Expense Ratio (%): | 2.05% |
| Share Class: | JHancock Alternative Asset Allc A |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
