ETF Research Center

The John Hancock Multifactor Utilities ETF tracks an index of large- and midcap US equities from the utilities sector. The index selects stocks by market caps and weights them by multiple factors: size, value, profitability and momentum.

FUND BASICS
Category	US Equities
Fund Sponsor	John Hancock
Website	etf.jhinvestments.com
Inception date	Mar 28, 2016
Assets (mns)	$37
Currency	USD
Expense ratio	40 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	44
Wgt avg mkt cap (mns)	$29,118
Large cap (>$10bn)	82.0%
Mid cap ($2-10bn)	18.0%
Small cap (<$2bn)	0.0%
Developed mkts	100.0%
Emerging mkts	0.0%

TOP TEN HOLDINGS
Total	44.0 %
CONSOLIDATED EDISON INC	5.5 %
PPL CORPORATION	5.2 %
PUBLIC SERVICE ENTERPRISE GP	4.9 %
EXELON CORP	4.9 %
SOUTHERN CO	4.5 %
EDISON INTERNATIONAL	4.3 %
DTE ENERGY COMPANY	3.9 %
NEXTERA ENERGY GROUP	3.8 %
ENTERGY CORP	3.5 %
AMERICAN ELECTRIC POWER	3.5 %

TOP COUNTRY EXPOSURE
	UNITED STATES	100.0 %

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.
23.2%	23.2%	--	--	10.6%

Market Correlations
versus...	Beta	R-squared
S&P500	0.22	8%
MSCI EAFE	0.18	4%
MSCI Emg. Mkts.	0.10	2%

Technical Indicators
Recent close	$35.62
30d moving avg.	$34.02
Annualized volatility	9.7%
Short interest (ETF)	0.0%
Relative strength (RSI)	72

Liquidity measures
Avg. volume (thou.)	11
Turnover	1.1%
Bid/Ask (% of price)	0.10%
ADV underlying (mns)	$4,401

Distributions

FINDING ALTERNATIVE FUNDS

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

Benchmark ticker:

JHMU

Expense:

40 bp

ALTAR Score™:

4.8%

ALTERNATIVE ETFs BASED ON OVERLAP WITH JHMU
Ticker	Fund Name	Overlap¹ vs JHMU (%)	Expense ratio (bp)	Savings vs JHMU (bp)	ALTAR Score™ (%)	ALTAR vs JHMU (%)
RYU	Invesco S&P Equal Weight Utilities	78.9	40	0	4.7	-0.1
IDU	iShares DJ US Utilities	74.7	43	-3	4.5	-0.3
VPU	Vanguard Utilities ETF	74.3	10	30	4.8	-0.0
FUTY	Fidelity MSCI Utilities	73.6	8	32	4.8	-0.0
XLU	Utilities Select Sector SPDR	71.9	13	27	4.8	+0.0
FXU	First Trust Utilities Alphadex	53.4	63	-23	5.1	+0.3
JXI	iShares S&P Global Utilities	52.6	46	-6	4.9	+0.1
PUI	Invesco DWA Utilities Momentum	52.1	60	-20	3.8	-1.0
UTES	Reaves Utilities	49.2	49	-9	4.0	-0.8
DVOL	First Trust Dorsey Wright Momentum & Low Volatility	38.9	60	-20	4.2	-0.6
ECLN	First Trust EIP Carbon Impact	37.5	95	-55	3.1	-1.7
EMLP	First Trust N. American Energy Infrastructure	29.1	95	-55	4.6	-0.2
SPLV	Invesco S&P 500 Low Volatility	28.7	25	15	5.0	+0.2
IFRA	iShares U.S. Infrastructure	28.1	40	0	5.1	+0.3
GII	SPDR FTSE/Macquarie Global Infrastructure	27.6	40	0	4.6	-0.2
IGF	iShares S&P Global Infrastructure	27.6	46	-6	4.5	-0.3
LVHD	Legg Mason Low Volatility High Dividend ETF	26.0	27	13	6.5	+1.7
DVY	iShares Select Dividend	24.9	39	1	7.6	+2.9
TPHD	Timothy Plan High Dividend Stock	21.9	52	-12	6.4	+1.6

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 Utilities
Relative to:	S&P500	MSCI EAFE	MSCI Emg. Mkts.	Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™

Calculation of ALTAR Score™
Avg. Return on Equity	10.7	%
Divided by: Fwd. P/BV	2.1	x
Less: Expense ratio	40	bp
Equals: ALTAR Score	4.8	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.70	CATEGORY AVERAGE	1.55

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.