ETF Research Center

The John Hancock Multifactor Developed International ETF tracks an index of developed ex-North America stocks covering 85% of market cap and weighted by multiple factors.

FUND BASICS
Category	International Equities
Fund Sponsor	John Hancock
Website	etf.jhinvestments.com
Inception date	Dec 15, 2016
Assets (mns)	$507
Currency	USD
Expense ratio	45 bp
Distributions	Semi-Annually

FUND STRUCTURE
Regulation	Open-Ended Fund
Custodian
Weighting	Multi-Factor
Index replication
Uses derivatives	No
Options available	No

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	732
Wgt avg mkt cap (mns)	$55,710
Large cap (>$10bn)	82.7%
Mid cap ($2-10bn)	16.7%
Small cap (<$2bn)	0.4%
Developed mkts	99.7%
Emerging mkts	0.3%

TOP TEN HOLDINGS
Total	10.5 %
TOYOTA MOTOR CORP	1.5 %
NESTLE SA-REG	1.4 %
BP PLC	1.3 %
ROYAL DUTCH SHELL PLC-B SHS	1.1 %
ROCHE HOLDING AG-GENUSSCHEIN	1.0 %
NOVARTIS AG-REG	1.0 %
DEUTSCHE ANNINGTON IMMOBILIE	0.9 %
ORANGE SA	0.8 %
ABB LTD.	0.8 %
TOTAL SA	0.7 %

TOP COUNTRY EXPOSURE
	JAPAN	24.6 %
	BRITAIN	16.5 %
	FRANCE	10.1 %
	SWITZERLAND	9.9 %
	GERMANY	8.9 %
	AUSTRALIA	6.9 %
	NETHERLANDS	3.6 %
	HONG KONG	3.4 %
	SPAIN	2.8 %
	SWEDEN	2.7 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru December 31)
Year-to-date	1 year	5 years	10 years	Since Incep.
19.8%	19.8%	--	--	8.6%

Market Correlations
versus...	Beta	R-squared
S&P500	0.75	68%
MSCI EAFE	0.99	97%
MSCI Emg. Mkts.	0.68	78%

Technical Indicators
Recent close	$29.85
30d moving avg.	$29.73
Annualized volatility	11.0%
Short interest (ETF)	0.0%
Relative strength (RSI)	61

Liquidity measures
Avg. volume (thou.)	25
Turnover	0.2%
Bid/Ask (% of price)	0.23%
ADV underlying (mns)	$35,840

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 19 potential alternatives to the John Hancock Multifactor Developed International ETF based on the alternatives' overlap in portfolio holdings with JHMD. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker:

JHMD

Expense:

45 bp

ALTAR Score™:

7.0%

ALTERNATIVE ETFs BASED ON OVERLAP WITH JHMD
Ticker	Fund Name	Overlap¹ vs JHMD (%)	Expense ratio (bp)	Savings vs JHMD (bp)	ALTAR Score™ (%)	ALTAR vs JHMD (%)
EFA	iShares MSCI EAFE	70.9	31	14	6.7	-0.3
DBEF	Xtrackers MSCI EAFE Hedged	69.9	35	10	6.6	-0.4
HFXI	IQ 50 Percent Hedged FTSE Int'l	69.1	20	25	7.0	+0.0
PBDM	Invesco PureBeta FTSE Developed ex-North America	68.2	7	38	7.3	+0.3
IEFA	iShares Core MSCI EAFE	66.4	7	38	6.8	-0.2
EFAX	SPDR MSCI EAFE Fossil Fuel Free	66.0	20	25	6.8	-0.2
SCHF	Schwab International Equity	65.1	6	39	7.1	+0.1
IDEV	iShares Core MSCI Int'l Developed Markets	62.2	5	40	6.9	-0.1
SPDW	SPDR Portfolio World ex-US	61.7	4	41	6.9	-0.1
ESGD	iShares MSCI EAFE ESG Optimized	61.2	20	25	6.7	-0.3
VEA	Vanguard Europe Pacific	60.1	5	40	7.1	+0.1
PXF	Invesco FTSE-RAFI Developed ex-US	60.1	45	0	7.9	+0.9
FNDF	Schwab Fundamental Intl Large Cap	59.3	25	20	7.4	+0.4
DDWM	WisdomTree Dynamic Currency Hedged Int'l Equity	58.9	35	10	7.6	+0.6
DWM	WisdomTree DEFA Fund	58.8	48	-3	7.4	+0.5
QEFA	SPDR MSCI EAFE Quality Mix	57.7	30	15	6.4	-0.6
REFA	Invesco International Revenue ETF	56.9	42	3	8.5	+1.6
GSIE	Goldman Sachs ActiveBeta Int'l Equity	56.5	25	20	6.4	-0.6
ACWX	iShares MSCI ACWI ex-US	55.4	31	14	7.1	+0.1

¹Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

	2014	2015	2016	2017	2018	2019E	2020E
Sales per share	**	**	**	**	**	**	**
Earnings per share	**	**	**	**	**	**	**
Dividends per share	**	**	**	**	**	**	**
Book value per share	**	**	**	**	**	**	**

Sales per share growth		**%	**%	**%	**%	**%	**%
EPS growth		**%	**%	**%	**%	**%	**%

Sales per share growth		**%	**%	**%	**%	**%	**%
EPS growth		**%	**%	**%	**%	**%	**%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est.	**%		Debt-to-equity	**x
Asset turnover	**%		Assets-to-equity	**x

Return on equity

Revision activity*

*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS

	2018	2019E	2020E
Price-to-sales	**	**	**
Price-to-earnings	**	**	**
Price-to-cash flow	**	**	**
Price-to-growth	**	**	**
Price-to-book value	**	**	**
Yield	**	**	**

Historical valuation trends

Forward multiple:	John Hancock Multifactor Developed International
Relative to:	S&P500	MSCI EAFE	MSCI Emg. Mkts.	Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™

Calculation of ALTAR Score™
Avg. Return on Equity	10.5	%
Divided by: Fwd. P/BV	1.4	x
Less: Expense ratio	45	bp
Equals: ALTAR Score	7.0	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.63	CATEGORY AVERAGE	1.63

The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale: BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3. Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.