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John Hancock High Yield ETF (JHHY) is an actively managed exchange-traded fund launched by John Hancock Investment Management, a division of Manulife Investment Management. The ETF, trading under the ticker symbol JHHY, is designed primarily to maximize current income and secondarily to achieve capital appreciation. It is subadvised by Marathon Asset Management, L.P., a renowned global credit investment manager with over $22 billion in assets under management as of December 31, 2023.
Under normal market conditions, JHHY invests at least 80% of its net assets in U.S. dollar-denominated high-yield corporate bonds, often referred to as junk bonds, which are rated from BB+ to D by S&P Global Ratings or Fitch Ratings, or from Ba1 to D by Moody's Investors Service. These investments allow the ETF to potentially offer higher yields in exchange for higher risk.
The fund is managed by two seasoned professionals: Louis Hanover, Chief Investment Officer, and Michael Schlembach, Managing Director and Senior Portfolio Manager at Marathon Asset Management. Together, they bring over 40 years of industry experience and are backed by a robust team of more than 30 investment professionals skilled in managing actively managed fixed income portfolios.
Keen on providing diversified investment solutions, JHHY aims to combine the benefits of an actively managed approach with the accessibility and efficiency of an ETF structure. This setup enables investors to potentially gain from Marathon's expertise in the high-yield credit market while enjoying the liquidity and cost benefits generally associated with ETFs.
According to Kristie Feinberg, Head of U.S. and Europe at Manulife Investment Management, the introduction of JHHY underscores the company’s commitment to expanding its multi-manager network to offer innovative, actively managed strategies. This sentiment is echoed by Louis Hanover and Michael Schlembach of Marathon, who emphasize the value proposition of combining John Hancock's platform with Marathon's high-yield bond management expertise.
Investors are encouraged to read the prospectus carefully before investing, as fixed-income investments carry risks, including interest rate and credit risks. These assets can decline in value if interest rates rise or if an issuer defaults. Additionally, the ETF may experience liquidity issues, and its shares may trade at a premium or discount to their NAV in the secondary market.
John Hancock Investment Management's ETF suite now comprises 14 funds, managing over $6.5 billion in assets as of March 31, 2024, covering a broad spectrum of asset classes including preferred income, mortgage-backed securities, corporate bonds, municipal bonds, and both U.S. and international equity portfolios. The firm continues to leverage its multi-manager approach to provide diverse and innovative investment opportunities to its clients.
John Hancock Investment Management, a company of Manulife Investment Management, launched the John Hancock High Yield ETF (NYSE Arca: JHHY) subadvised by Marathon Asset Management, L.P., with a focus on maximizing current income and capital appreciation through U.S.-dollar-denominated high-yield corporate bonds. The ETF is managed by industry veterans Louis Hanover and Michael Schlembach, supported by a team of investment professionals. The partnership aims to offer investors an active ETF option in the high-yield fixed income space, combining active management with index-like risk and return profiles.
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