About JMADX
John Hancock Managed Account Shares Non-Investment Grade Corporate Bond Portfolio is a mutual fund focused on providing a high level of current income by investing primarily in below-investment-grade, or high-yield, corporate bonds. The portfolio is broadly diversified, typically holding over 180 different securities, and allocates at least 80% of its assets to non-investment-grade debt issued by corporations rated as low as CC by S&P and Ca by Moody’s, or their unrated equivalents. Notably, the fund emphasizes sectors such as energy, consumer discretionary, industrials, and financial services, which together make up a significant portion of its holdings.
The portfolio’s quality composition is concentrated in bonds rated BB and B, with smaller allocations to BBB, CCC, and below. Its sector allocation reflects a strong weighting toward companies with cyclical exposure, including energy (approximately 19-20%), consumer discretionary (18-20%), and industrials (13-15%). The fund maintains a relatively high portfolio turnover rate—recently around 56% per year—allowing adaptability to shifting market conditions. Yield levels are notably elevated relative to investment-grade peers, aligning with the fund's objective and risk profile; typical distribution yields stand around 7% annually. This fund plays a role in the market by offering diversified access to high-yield corporate debt, suitable for investors seeking income from credit markets within a managed fund structure.
Fund Family John Hancock
Category Miscellaneous Fixed Income
Performance Rating Average
Risk Rating Above Average
Stock Exchange NASDAQ
Ticker Symbol JMADX
Index Bloomberg U.S. Corp Investment Grade TR
JMADX had a total return of 4.93% in the past year, including dividends. Since the fund's
inception, the average annual return has been 2.93%.
