Bond Fund
John Hancock Sovereign Bond Fund · Series S000000646 · 6 share classes
data updated 2026-09-08
Fund profile
As filed in the prospectus · 2025 Q3
To seek a high level of current income consistent with prudent investment risk.
The fund invests at least 80% of its net assets in a diversified portfolio of bonds selected through top-down sector and industry analysis combined with bottom-up security selection to identify undervalued opportunities. The portfolio is expected to be at least 75% investment-grade debt, though the fund may hold up to 25% in below-investment-grade securities rated as low as CC or Ca. Because security selection drives returns, performance will depend on the manager's ability to identify undervalued bonds across sectors and industries.
| Share class | Gross | Net |
|---|---|---|
| JHNBX | 0.77% | 0.76% |
| JHCBX | 1.47% | 1.46% |
| JHBIX | 0.47% | 0.46% |
| JHBSX | 0.36% | 0.35% |
| JHRBX | 0.86% | 0.85% |
| C000153977 | 0.36% | 0.35% |
| JBFRX | 0.71% | 0.60% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 100.00% · as of 2025 Q3
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 54.10% |
| Securitized | 44.74% |
| Cash & short-term | 0.94% |
| Loans | 0.37% |
| 2 smaller | 0.14% |
Derivatives are shown at market value, not notional exposure.
Latest quarter
What changed since the fund's previous filing
Largest new: United States Treasury Note/Bond ×6, FREDDIE MAC POOL FR 05/54 FIXED 5, Fannie Mae Pool
Largest exited: United States Treasury Note/Bond ×5, FANNIE MAE OR FREDDIE MAC MBS 30YR TBA, Ford Motor Credit Company LLC, BNP Paribas
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +4.81% | +12.19% | +0.89% | 3.73% | -6.34% | |
| +4.07% | +9.84% | -2.62% | 3.73% | -6.68% | |
| +5.12% | +13.21% | +2.34% | 3.67% | -6.20% | |
| +5.23% | +13.48% | +2.88% | 3.77% | -6.20% | |
| +4.72% | +11.82% | +0.40% | 3.78% | -6.37% | |
| +5.25% | +13.60% | +2.97% | 3.72% | -6.14% | |
| +4.98% | +12.75% | +1.68% | 3.65% | -6.25% |
These classes hold the same portfolio, so the 5.59pp spread over 5 years is the cost difference between them — roughly 1.12pp a year — not a difference in what they own.
May 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-05-31
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 82.5% |
| Floating rate | 17.5% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 0.3% |
| 1-3y | 3.0% |
| 3-5y | 11.5% |
| 5-10y | 24.8% |
| 10y+ | 60.3% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying nearly as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 57% |
| Credit spreads | 43% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +3.98 yr |
| High yield | +0.52 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.02 yr | 0% |
| 1 yr | 0.51 yr | 8% |
| 5 yr | 2.02 yr | 33% |
| 10 yr | 2.35 yr | 39% |
| 30 yr | 1.14 yr | 19% |
| 3 mo | 0.02 yr | 0% |
| 1 yr | 0.50 yr | 11% |
| 5 yr | 1.91 yr | 42% |
| 10 yr | 1.72 yr | 38% |
| 30 yr | 0.36 yr | 8% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.02 | +0.02 | +0.00 | $45.8k | $9.1k |
| 1 yr | +0.51 | +0.40 | +0.10 | $1.06m | $264.6k |
| 5 yr | +2.02 | +1.60 | +0.31 | $4.24m | $828.2k |
| 10 yr | +2.35 | +1.62 | +0.10 | $4.28m | $266.2k |
| 30 yr | +1.14 | +0.35 | +0.01 | $930.3k | $18.2k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | United States Treasury Note/Bond4.75% · due 2056-02-15 | 2.16% | $573.40M | — |
| — | United States Treasury Note/Bond4.88% · due 2045-08-15 | 1.49% | $395.10M | — |
| — | United States Treasury Note/Bond4.75% · due 2055-08-15 | 1.26% | $335.02M | — |
| — | United States Treasury Note/Bond4.75% · due 2043-11-15 | 1.06% | $280.39M | — |
| — | United States Treasury Note/Bond1.38% · due 2050-08-15 | 1.04% | $275.02M | — |
| — | United States Treasury Note/Bond2.00% · due 2050-02-15 | 0.97% | $256.26M | — |
| — | JH COLLATERAL | 0.94% | $248.88M | — |
| — | United States Treasury Note/Bond1.63% · due 2050-11-15 | 0.81% | $215.19M | — |
| — | United States Treasury Note/Bond3.88% · due 2029-05-15 | 0.71% | $187.04M | — |
| — | United States Treasury Note/Bond4.63% · due 2044-11-15 | 0.58% | $153.30M | — |
Top 10 positions are 11.02% of net assets, top 25 16.98%, across 653 issuers.
See more of this fund's book
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