Investment objective & strategy
As of Sept. 25, 2025 · prospectusObjective. To seek high level of current income consistent with prudent investment risk.
Strategy. Under normal market conditions, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in a diversified portfolio of bonds. The fund will invest only in securitized assets, which may include, but are not limited to, mortgage-backed and asset-backed securities, including securities backed by the US Government and its agencies. The fund will not invest in any non-securitized assets. The funds investment policies are based on credit ratings at the time of purchase. There is no limit on average maturity. The manager focuses on sector allocation, industry allocation, and security selection in making investment decisions. When making sector and industry allocations, the manager uses top-down analysis to try to anticipate and react to shifts … Under normal market conditions, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in a diversified portfolio of bonds. The fund will invest only in securitized assets, which may include, but are not limited to, mortgage-backed and asset-backed securities, including securities backed by the US Government and its agencies. The fund will not invest in any non-securitized assets. The funds investment policies are based on credit ratings at the time of purchase. There is no limit on average maturity. The manager focuses on sector allocation, industry allocation, and security selection in making investment decisions. When making sector and industry allocations, the manager uses top-down analysis to try to anticipate and react to shifts in the business cycle. The manager uses bottom-up research to find individual securities that appear comparatively undervalued. The fund does not invest in bonds rated below investment-grade at time of purchase. The fund may invest in securities of foreign governments and corporations. The fund will not invest more than 10% of its total assets in securities denominated in foreign currencies. Under normal market conditions, the fund does not anticipate investing more than 25% of its total assets in U.S. dollar-denominated foreign securities (excluding Canadian securities). The fund may engage in derivatives transactions, including credit default swaps, foreign currency forward contracts, futures contracts, and options, to reduce risk, obtain efficient market exposure, and/or enhance investment returns. The funds investments in U.S. government and agency securities may or may not be supported by the full faith and credit of the United States. The fund may trade securities actively. The fund may invest in bonds issued by master limited partnerships.
Top holdings
As of Feb. 28, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| BEACON CONTAINER FINANCE II LLC BEACN 2021-1A A | BEACN | $3.43M | 1.23% |
| JH COLLATERAL | — | $3.39M | 1.22% |
| Progress Residential 2026-SFR1 Trust | PROG | $2.84M | 1.02% |
| HY 2025-SPRL A 144A FRN 01-13-40 | HY | $2.83M | 1.01% |
| CLI Funding IX LLC, Series 2025-1A, Class A | — | $2.75M | 0.99% |
| OBX Trust 2026-NQM2 | OBX | $2.62M | 0.94% |
| ELLINGTON FINANCIAL MORTGAGE T EFMT 2025 INV5 A1 144A | EFMT | $2.58M | 0.92% |
| BBCMS Mortgage Trust 2024-5C29 | — | $2.55M | 0.91% |
| GCAT Trust, Series 2025-NQM5, Class A1 | GCAT | $2.52M | 0.90% |
| NRZT 2025-NQM3 A1 | NRZT | $2.49M | 0.89% |
Portfolio moves
Nov 30, 2025 → Feb 28, 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. |
|---|---|---|
| Investment Grade Bond Fund · TAUSX, TCUSX, TIUSX, JIGBX, JIGMX, JIGEX | 13% | 0.38% |
| John Hancock Core Bond ETF · JHCR | 12% | 0.29% |
| Bond Fund · JHNBX, JHCBX, JHBIX, JHBSX, JHRBX, JBFRX | 11% | 0.35% |
Advisers
| Firm | Role |
|---|---|
| John Hancock Investment Management LLC | Adviser |
| Manulife Investment Management (US) LLC | Sub-adviser |
Footnotes
- Expense ratio as of September 25, 2025, from the fund's prospectus.
- Net assets and holdings count as of February 28, 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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