Investment objective & strategy
As of April 16, 2025 · prospectusObjective. To seek total return consisting of income and capital appreciation.
Strategy. Under normal market conditions, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in a broad range of investment-grade debt securities, including U.S. government obligations, corporate bonds, mortgage-backed and other asset-backed securities, and money market instruments. (The fund will provide written notice to shareholders at least 60 days prior to a change in its 80% investment policy.) The fund invests in debt securities that the subadvisor believes offer attractive yields and are undervalued relative to issues of similar credit quality and interest rate sensitivity. The fund may also invest in unrated bonds that the subadvisor believes are comparable to investment-grade debt securities. The fund may invest to a significant extent in mortgage-backed securities, … Under normal market conditions, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in a broad range of investment-grade debt securities, including U.S. government obligations, corporate bonds, mortgage-backed and other asset-backed securities, and money market instruments. (The fund will provide written notice to shareholders at least 60 days prior to a change in its 80% investment policy.) The fund invests in debt securities that the subadvisor believes offer attractive yields and are undervalued relative to issues of similar credit quality and interest rate sensitivity. The fund may also invest in unrated bonds that the subadvisor believes are comparable to investment-grade debt securities. The fund may invest to a significant extent in mortgage-backed securities, including collateralized mortgage obligations. Under normal market conditions, the subadvisor expects to maintain an effective duration within 10% (in either direction) of the duration of the Bloomberg ?U.S. Aggregate Bond Index (the duration of this index as of February 28, 2025 was 6.10 years). The fund may invest: ? Up to 25% of total assets in asset-backed securities, other than mortgage-backed securities; ? Up to 20% of total assets in U.S. dollar-denominated obligations of foreign issuers; and ? Up to 10% of total assets in U.S. stripped mortgage-backed securities. As part of a mortgage-backed securities investment strategy, the fund may enter into dollar rolls. The fund may also enter into reverse repurchase agreements to enhance return. The funds investment process may, at times, result in a higher than average portfolio turnover ratio and increased trading expenses.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| SSC GOVERNMENT MM GVMXX / | 7839989D1010 | $22.24M | 3.08% |
| US TREASURY N/B | — | $12.79M | 1.77% |
| US TREASURY N/B | — | $11.89M | 1.65% |
| US TREASURY N/B | — | $11.71M | 1.62% |
| US TREASURY N/B | — | $10.67M | 1.48% |
| US TREASURY N/B | — | $10.11M | 1.40% |
| US TREASURY N/B | — | $9.14M | 1.27% |
| US TREASURY N/B | — | $9.12M | 1.26% |
| US TREASURY N/B | — | $8.66M | 1.20% |
| US TREASURY N/B | — | $8.41M | 1.16% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Select Bond Portfolio | 87% | 0.31% |
| Core Bond Fund · JHCDX, JICDX | 75% | 0.61% |
| Allspring Core Bond Portfolio | 61% | — |
Advisers
| Firm | Role |
|---|---|
| Allspring Global Investments, LLC | Sub-adviser |
| John Hancock Variable Trust Advisers LLC | Adviser |
Footnotes
- Expense ratio as of April 16, 2025, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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