JHHLX — U.S. High Yield Bond Fund

Data updated: 2021-04-29

JHHLX — U.S. High Yield Bond Fund. Corporate Bond · $130.29M AUM · 0.81% expense ratio · 10.2% 1-yr return. Holdings, fees, performance and SEC filings.

JHHLX Fund Overview

JHHLX — U.S. High Yield Bond Fund is a US mutual fund managed by John Hancock Funds II, categorised as Corporate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

Type: US mutual fund
Manager: John Hancock Funds II
Category: Corporate Bond
Assets under management: $130.29M
1-year return: 10.2%
Ticker: JHHLX
SEC CIK: 0001331971
SEC series ID: S000003400
Share class ID: C000009366

JHHLX Investment Objective and Strategy

U.S. High Yield Bond Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by John Hancock Funds II.

Investment objective

To seek total return with a high level of current income.

Principal investment strategy

"Under normal market conditions, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in U.S. corporate debt securities that are, at the time of investment, below investment grade, including preferred and other convertible securities in below-investment-grade debt securities (sometimes referred to as ""junk bonds"" or high yield securities). The fund also invests in corporate debt securities that are investment grade, and may buy preferred and other convertible securities and bank loans that are investment grade. Some loans may be illiquid. The manager actively manages a diversified portfolio of below-investment-grade debt securities. The manager does not manage the portfolio to a specific maturity or duration. The manager focuses on individual security selection (primarily using a ""bottom-up"" approach) and seeks to identify high yield securities that appear comparatively undervalued.

The manager uses its knowledge of various industries to assess the risk/return tradeoff among issuers within particular industries, in seeking to identify compelling relative value investments. The manager analyzes the issuers' long-term prospects and focuses on characteristics such as management, asset coverage, free cash flow generation, liquidity and business risk. The manager's research and analysis highlights industry drivers, competitive position and operating trends with an emphasis on free cash flow. The manager also talks to management, and consults industry contacts, debt and equity analysts, and rating agencies. The manager purchases securities for the fund when attractive risk/reward ideas are identified and sells securities when either the securities become overvalued or circumstances change in a way that adversely affects this risk/return profile.

Rigorous credit analysis of individual issuers is an integral part of the selection process. The manager attempts to invest in high yield securities of issuers which it believes have ample asset coverage for their debt securities in comparison to other high yield security issuers in an effort to minimize default risk and maximize risk-adjusted returns. The strategy is focused on selecting investments that can capture the significant current income and capital appreciation potential of the high yield market while also managing downside risk. The total return sought by the fund consists of income earned on the fund's investments, together with the appreciation that may result from decreases in interest rates or improving credit fundamentals for a particular industry or issuer. The fund may invest significantly in issuers in the communications sector.

Under normal circumstances, the manager invests: Up to 15% of total assets in any one industry; and Up to 5% of total assets in any one issuer (excluding investments in cash-equivalent issuers or for cash-management purposes). The manager will generally invest in below investment grade debt securities that are rated at least ""Caa"" by Moody's Investors Service, Inc. or ""CCC"" by Standard and Poor's Ratings Services, or that are unrated but deemed by the manager to be of comparable quality but may also invest in securities rated below these ratings (or unrated securities of comparable quality). The average credit quality of the fund's securities is expected to be at least B- as rated by Standard and Poor's Ratings Services. The fund's investment process may, at times, result in a higher than average portfolio turnover ratio and increased trading expenses."

JHHLX Performance

Total returns for JHHLX (as of 2026-10-01), from SEC filings.

Period	Total return
1 year	10.2%

JHHLX Risk Information

Risk metrics for JHHLX, derived from monthly returns in SEC filings.

1-year volatility (annualised): 15.0%

JHHLX Costs and Fees

JHHLX costs about $81 per $10,000 invested per year in fund expenses.

Net expense ratio: 0.81%
Gross expense ratio: 0.82%
Portfolio turnover: 82%
Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

JHHLX Cashflows

Over the 12 months to 2021-02, U.S. High Yield Bond Fund had net outflows of $125.57M, from monthly SEC N-PORT filings.

Month	Net flow
2021-02	$916.34K
2021-01	−$116.46M
2020-12	$2.62M
2020-11	$233.73K
2020-10	$48.73K
2020-09	$2.32M

JHHLX Debt Constituents

No individual debt constituents are reported in U.S. High Yield Bond Fund's latest SEC N-PORT filing.

JHHLX Prospectus and SEC Filings

Official U.S. High Yield Bond Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

Related Funds

Other Corporate Bond funds tracked on ABC INVEST:

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.