ETF Research Center

The John Hancock Multifactor Small Cap ETF tracks an index of US small-cap stocks selected by relative price and profitability. Securities are weighted based on market capitalization.

FUND BASICS
Category	US Equities
Fund Sponsor	John Hancock
Website	etf.jhinvestments.com
Inception date	Nov 08, 2017
Assets (mns)	$538
Currency	USD
Expense ratio	50 bp
Distributions	Semi-annual

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

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	380
Wgt avg mkt cap (mns)	$4,210
Large cap (>$10bn)	0.4%
Mid cap ($2-10bn)	96.7%
Small cap (<$2bn)	2.9%
Developed mkts	99.8%
Emerging mkts	0.2%

TOP TEN HOLDINGS
Total	4.8 %
LEGGETT & PLATT INC	0.5 %
TELADOC INC	0.5 %
GENERAC HOLDINGS INC	0.5 %
ITT CORP	0.5 %
MANPOWER INC	0.5 %
OSHKOSH CORP	0.5 %
HANOVER INSURANCE GROUP INC/	0.5 %
NUTANIX, INC. CLASS A	0.5 %
CREE INC	0.5 %
SYNNEX CORP	0.4 %

TOP COUNTRY EXPOSURE
	UNITED STATES	95.6 %
	BERMUDA	1.6 %
	BRITAIN	1.0 %
	IRELAND	0.6 %
	LUXEMBOURG	0.3 %
	NETHERLANDS	0.2 %
	PANAMA	0.2 %
	SWITZERLAND	0.2 %

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.
24.4%	24.4%	--	--	4.4%

Market Correlations
versus...	Beta	R-squared
S&P500	1.16	89%
MSCI EAFE	1.13	66%
MSCI Emg. Mkts.	0.75	48%

Technical Indicators
Recent close	$27.97
30d moving avg.	$27.93
Annualized volatility	17.6%
Short interest (ETF)	0.2%
Relative strength (RSI)	62

Liquidity measures
Avg. volume (thou.)	31
Turnover	0.2%
Bid/Ask (% of price)	0.22%
ADV underlying (mns)	$11,774

Distributions

FINDING ALTERNATIVE FUNDS

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

Benchmark ticker:

JHSC

Expense:

50 bp

ALTAR Score™:

5.5%

ALTERNATIVE ETFs BASED ON OVERLAP WITH JHSC
Ticker	Fund Name	Overlap¹ vs JHSC (%)	Expense ratio (bp)	Savings vs JHSC (bp)	ALTAR Score™ (%)	ALTAR vs JHSC (%)
EWMC	Invesco S&P Mid Cap 400 Equal Weight	47.0	40	10	6.4	+0.9
FNX	First Trust Mid Cap Core Alpadex	46.6	62	-12	6.5	+0.9
MDY	S&P MidCap 400 SPDR	42.9	24	26	6.0	+0.4
IJH	iShares Core S&P MidCap	42.9	7	43	6.1	+0.6
IVOO	Vanguard S&P Mid-Cap 400	42.7	15	35	6.0	+0.5
EZM	WisdomTree Midcap Earnings	42.4	38	12	8.4	+2.9
SCHA	Schwab U.S. Small-Cap	42.2	4	46	4.8	-0.7
RNMC	First Trust Mid Cap US Equity Select	41.6	60	-10	6.4	+0.9
SPSM	SPDR Portfolio Small Cap	41.6	5	45	4.7	-0.9
VBR	Vanguard Small-Cap Value ETF	37.7	7	43	7.5	+1.9
PBSM	Invesco PureBeta MSCI USA Small Cap	36.6	6	44	5.2	-0.4
IJJ	iShares S&P MidCap 400 Value	36.0	25	25	7.6	+2.1
IVOV	Vanguard S&P Mid-Cap 400 Value	36.0	20	30	7.2	+1.7
MDYV	SPDR S&P400 Mid Cap Value	36.0	15	35	7.7	+2.2
SPMD	SPDR Portfolio Mid Cap	35.6	5	45	6.1	+0.6
ESML	iShares MSCI USA Small-Cap ESG Optimized	34.1	17	33	4.7	-0.9
VB	Vanguard Smallcap ETF	33.7	5	45	5.4	-0.2
FNK	First Trust Mid Cap Value AlphaDEX	32.7	70	-20	8.8	+3.3
IWM	iShares Russell 2000	32.7	19	31	3.5	-2.0
JKJ	iShares Morningstar Small Core	32.3	25	25	5.6	+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 Small 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	11.7	%
Divided by: Fwd. P/BV	1.9	x
Less: Expense ratio	50	bp
Equals: ALTAR Score	5.5	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.58	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.