TSMBX — John Hancock Municipal Opportunities Fund

TSMBX Fund Overview

TSMBX — John Hancock Municipal Opportunities Fund is a US mutual fund managed by John Hancock Municipal Securities Trust, categorised as Long Municipal - National 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 Municipal Securities Trust
• Category: Long Municipal - National Bond
• Assets under management: $1.55B
• 1-year return: 0.6%
• Ticker: TSMBX
• SEC CIK: 0000857769
• SEC series ID: S000000652
• Share class ID: C000001878

TSMBX Investment Objective and Strategy

John Hancock Municipal Opportunities Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by John Hancock Municipal Securities Trust.

Investment objective

To seek as high a level of interest income exempt from federal income tax as is consistent with preservation of capital.

Principal investment strategy

Under normal market conditions, the fund invests at least 80% of its net assets, plus amounts borrowed for investment purposes, in tax-exempt bonds of any maturity. Most of these bonds are investment grade when purchased, but the fund may also invest up to 35% of its net assets in junk bonds rated BB or B by S&P or Fitch or Ba or B by Moody's or their unrated equivalents. Bonds that are rated at or below BB by Standard & Poor's Ratings Services (S&P) or Fitch Ratings, Inc. (Fitch) or Ba by Moody's Investors Service, Inc. (Moody's) are considered junk bonds. The fund's investment policies are based on credit ratings at the time of purchase. The fund may buy bonds of any maturity. The fund may invest heavily in bonds from any given state or region, and currently has substantial investments in obligations of New York and its agencies, instrumentalities, and/or political subdivisions.

The fund may invest in derivatives. Derivatives may be used to reduce risk and/or enhance investment return, and may include futures contracts on debt securities and debt securities indexes; options on futures, debt securities, and debt indexes; and inverse floating-rate securities. The manager looks for undervalued bonds, based on both broad and security-specific factors, such as issuer creditworthiness, bond structure, and general credit trends. The manager uses detailed analysis of an appropriate index to model anticipated portfolio performance and composition and then blends the macro assessment with security analysis. The fund does not intend to engage in frequent trading. The fund may invest in general obligation bonds, however, in general, the manager favors bonds backed by revenue from a specific public project or facility, such as a power plant (revenue bonds), as they tend to offer higher yields than general obligation bonds.

The manager also favors bonds that have limitations on early payoff (call protection), which can help minimize the potential effect of falling interest rates on the fund's yield. To the extent that the fund invests in bonds that are subject to the alternative minimum tax (AMT), the income paid by the fund may not be entirely tax-free to all investors. Investments in bonds subject to the AMT will not be counted toward the fund's 80% investment policy.

TSMBX Holdings

Top 10 holdings of John Hancock Municipal Opportunities Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.

View all TSMBX holdings

TSMBX Portfolio Allocation

Asset-class allocation of John Hancock Municipal Opportunities Fund by percentage of net assets, from the latest SEC N-PORT filing.

TSMBX Performance

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

TSMBX Risk Information

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

• 1-year volatility (annualised): 8.2%

TSMBX Costs and Fees

TSMBX costs about $157 per $10,000 invested per year in fund expenses.

• Net expense ratio: 1.57%
• Gross expense ratio: 1.68%
• Portfolio turnover: 35%
• Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

TSMBX Cashflows

Over the 12 months to 2026-05, John Hancock Municipal Opportunities Fund had net inflows of $209.92M, from monthly SEC N-PORT filings.

TSMBX Debt Constituents

Largest debt holdings of John Hancock Municipal Opportunities Fund by percentage of net assets, from the latest SEC N-PORT filing.

TSMBX Prospectus and SEC Filings

Official John Hancock Municipal Opportunities Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2026-09-24
• Prospectus (485BPOS) — filed 2025-09-25
• Prospectus supplement (497) — filed 2024-10-04
• Portfolio holdings (N-PORT) — filed 2026-07-27
• Portfolio holdings (N-PORT) — filed 2026-04-28
• Portfolio holdings (N-PORT) — filed 2026-01-28
• Annual census (N-CEN) — filed 2025-07-31
• Annual census (N-CEN) — filed 2024-08-14

Related Funds

Other Long Municipal - National Bond funds tracked on ABC INVEST:

• Vanguard Intermediate-Term Tax-Exempt Fund (VWITX)
• iShares National Muni Bond ETF (MUB)
• Vanguard Limited-Term Tax-Exempt Fund (VMLTX)
• Tax Exempt Bond Fund Of America (AFTEX)
• Bridge Builder Municipal Bond Fund (BBMUX)

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.