ETF Research Center

The John Hancock Multifactor Large Cap ETF tracks an index of largest 800 US firms, weighted by multiple factors relative to their sector peers.

FUND BASICS
Category	US Equities
Fund Sponsor	John Hancock
Website	etf.jhinvestments.com
Inception date	Sep 28, 2015
Assets (mns)	$935
Currency	USD
Expense ratio	34 bp
Distributions	Semi-Annually

FUND STRUCTURE
Regulation	Open-End Investment Company
Custodian
Weighting	Multi-Factor
Index replication
Uses derivatives	No
Options available	No

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	784
Wgt avg mkt cap (mns)	$192,053
Large cap (>$10bn)	91.7%
Mid cap ($2-10bn)	8.3%
Small cap (<$2bn)	0.0%
Developed mkts	100.0%
Emerging mkts	0.0%

TOP TEN HOLDINGS
Total	14.3 %
APPLE INC	3.4 %
MICROSOFT CORP	2.4 %
AMAZON.COM INC	1.5 %
ALPHABET INC. CLASS A	1.4 %
JPMORGAN CHASE & CO	1.2 %
BERKSHIRE HATHAWAY INC-CL B	1.1 %
FACEBOOK	0.9 %
JOHNSON & JOHNSON	0.9 %
INTEL CORP	0.8 %
BANK OF AMERICA CORP	0.8 %

TOP COUNTRY EXPOSURE
	UNITED STATES	95.9 %
	IRELAND	2.0 %
	BRITAIN	1.1 %
	SWITZERLAND	0.4 %
	BERMUDA	0.3 %
	SINGAPORE	0.1 %
	CAYMAN ISLANDS	0.0 %
	PUERTO RICO	0.0 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru November 30)
Year-to-date	1 year	5 years	10 years	Since Incep.
27.6%	15.9%	--	--	14.0%

Market Correlations
versus...	Beta	R-squared
S&P500	1.01	99%
MSCI EAFE	0.91	68%
MSCI Emg. Mkts.	0.64	53%

Technical Indicators
Recent close	$40.90
30d moving avg.	$40.12
Annualized volatility	12.2%
Short interest (ETF)	0.1%
Short interest (Underlying)	3.0%
Relative strength (RSI)	68

Liquidity measures
Avg. volume (thou.)	52
Turnover	0.2%
Bid/Ask (% of price)	0.11%
ADV underlying (mns)	$174,795

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the John Hancock Multifactor Large Cap ETF based on the alternatives' overlap in portfolio holdings with JHML. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker:

JHML

Expense:

34 bp

ALTAR Score™:

5.9%

ALTERNATIVE ETFs BASED ON OVERLAP WITH JHML
Ticker	Fund Name	Overlap¹ vs JHML (%)	Expense ratio (bp)	Savings vs JHML (bp)	ALTAR Score™ (%)	ALTAR vs JHML (%)
SCHX	Schwab U.S. Large-Cap	79.2	3	31	5.8	-0.1
SCHK	Schwab 1000 Index	78.5	5	29	5.8	-0.1
IWB	iShares Russell 1000	78.4	15	19	5.6	-0.2
VONE	Vanguard Russell 1000	78.3	12	22	5.7	-0.2
IYY	iShares DJ US Total Market	78.1	20	14	5.6	-0.3
PBUS	Invesco PureBeta MSCI USA	78.0	4	30	5.9	+0.0
BBUS	JP Morgan Betabuilders U.S. Equity	76.8	2	32	5.8	-0.1
SCHB	Schwab U.S. Broad Market	76.7	3	31	5.7	-0.2
VV	Vanguard Large-Cap ETF	76.7	4	30	5.7	-0.1
ITOT	iShares Core S&P Total US	76.5	3	31	5.6	-0.3
IWV	iShares Russell 3000	76.4	20	14	5.4	-0.4
VTHR	Vanguard Russell 3000	76.3	15	19	5.5	-0.4
VTI	Vanguard Total Market	76.3	3	31	5.6	-0.3
SPLG	SPDR Portfolio Large Cap	76.1	3	31	5.7	-0.2
PBP	Invesco S&P 500 Buy/Write	75.5	49	-15	5.4	-0.4
HSPX	Global X S&P 500 Covered Call	75.3	65	-31	5.3	-0.6
SPY	S&P 500 SPDR	75.0	9	25	5.8	-0.1
IVV	iShares Core S&P 500	75.0	4	30	5.8	-0.0
VOO	Vanguard S&P 500 ETF	74.8	3	31	5.9	+0.0
GSLC	Goldman Sachs ActiveBeta U.S. Large Cap Equity	74.4	9	25	6.0	+0.2

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 Large Cap
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	16.9	%
Divided by: Fwd. P/BV	2.7	x
Less: Expense ratio	34	bp
Equals: ALTAR Score	5.9	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.54	CATEGORY AVERAGE	1.56

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.