Quarterly Observations from John Hancock Disciplined Value Fund in the year 2025

The investment fund, under review, has shown promising performance for the year to date (Ytd), with the Class A without sales charge boasting an average annual total return of 6.51%. The Class I, on the other hand, has a slightly lower return of 6.59%, but without any sales charge.

The fund's performance is compared to the Russell 1000 Value Index, which has an average annual total return of 3.79% and 4.32% for the Ytd in the overall market and large value category respectively. It's important to note that investing directly in an index is not possible.

JPMorgan Chase & Company is the largest holding of the fund, representing 4.44% of its total, followed by Philip Morris International, Inc. (2.95%) and Uber Technologies, Inc. (2.01%). Honeywell International, Inc. and Oracle Corp. make up the fifth and sixth-largest holdings, at 1.92% and 1.91% respectively.

The fund holds high representations of distribution companies across various sectors, including consumer staples, consumer discretionary, mining, and industrials. Notable distribution companies in the fund include US Foods Holding Corp. (1.96%) and Cencora, Inc. (1.87%).

The stock selection in the financials sector also contributed to relative performance, with JP Morgan Chase & Co. leading the way. In the information technology sector, Oracle Corp. was the top contributor.

However, the third quarter saw significant losses for the fund, with United Parcel Service (UPS), MarketAxess Inc. (MKTX), Adobe Inc. (ADBE), IDEX Corp. (IEX), and Salesforce Inc. (CRM) contributing to the largest losses. UPS had the greatest negative contribution of -0.33% to the fund's returns.

It's worth noting that the listed holdings may change at any time and are not recommendations to buy or sell any security. Data is expressed as a percentage of net assets and excludes cash and cash equivalents.

Mid-cap value stocks recovered to close the quarter firmly in positive territory after selling off sharply in early April. The Large value category, which includes the fund, has an average annual total return of 4.32% for the Ytd.

The fund's Class A has an expense ratio of 0.97% (gross) and 0.96% (net), while the Class I has an expense ratio of 0.72% (gross) and 0.71% (net).

Other notable holdings include AbbVie, Inc. (1.77%) and The Walt Disney Company (1.84%). CRH PLC also makes up a significant portion of the fund, representing 1.81% of its total.

In conclusion, the investment fund has shown strong performance for the year to date, with a diverse portfolio across various sectors. However, it's important for investors to understand the risks associated with any investment and to consult with a financial advisor before making any decisions.

Quarterly Observations from John Hancock Disciplined Value Fund in the year 2025