Strategic Income Opportunities Fund
John Hancock Funds II · 5 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
Strategic Income Opportunities Fund is an actively managed global bond fund. 100% of JIPAX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 100% of the fund’s equity).
- Asset class
- Bonds
- Region
- Global
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- Mixed credit
- Rate sensitivity
- Intermediate duration
Fund profile
As filed in the prospectus
No strategy summary for this fund. We write them from the strategy narrative a fund files, for funds holding $250m or more in net assets — a fund under that line, or one whose filing carries no narrative, has none.
| Share class | Gross | Net | As of |
|---|---|---|---|
| C000027206 | 0.70% | 0.65% | 2025 Q2 |
| JIPAX | 1.11% | 1.06% | 2025 Q2 |
| JIPCX | 1.81% | 1.76% | 2025 Q2 |
| JIPIX | 0.81% | 0.76% | 2025 Q2 |
| JIPRX | 0.70% | 0.65% | 2025 Q2 |
| JIPPX | 1.20% | 1.15% | 2025 Q2 |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 66.05% |
| Securitized | 12.86% |
| Loans | 11.36% |
| Cash & short-term | 6.46% |
| Stocks | 5.95% |
| Derivatives | -0.18% |
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Derivatives are shown at market value, not notional exposure.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Government | 20.8% |
| Other | 20.7% |
| Securitized | 12.5% |
| International | 12.2% |
| 12 smaller | 33.8% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Portfolio growth profile
How much of the fund’s stock holdings are in fast-growing companies · as of 2023 Q2
Share of the fund’s equity (by value) in companies whose trailing five-year revenue — or net-income — growth ranks in the top 25% of U.S. public companies. Foreign and newly-listed holdings are excluded, so the figure covers only part of the book. From SEC filings — not investment advice. How we measure this.
Latest quarter
What changed since the fund's previous filing
Largest new: Banco Santander SA, MEXICAN BONOS BONDS 04/32 8, NextEra Energy Inc., CZECH REPUBLIC GOVERNMENT BOND SR UNSECURED 05/35 3.5, Clarios Global LP, United States Treasury Note/Bond, Oak-Eagle AcquireCo Inc., GB AIT Buyer Inc.
Largest exited: CZECH REPUBLIC GOVERNMENT BOND SR UNSECURED 11/32 4.5, NextEra Energy Inc., YUM! Brands Inc., Clarios Global LP, Western Alliance Bancorporation, Ball Corporation, Emera Incorporated, Long Ridge Energy LLC
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 |
|---|---|---|---|---|---|
| +7.16% | +16.70% | +8.86% | 3.46% | -3.95% | |
| +6.70% | +15.25% | +6.54% | 3.43% | -4.05% | |
| +5.94% | +12.82% | +2.84% | 3.43% | -4.21% | |
| +7.03% | +16.30% | +8.17% | 3.42% | -3.98% | |
| +7.14% | +16.64% | +8.80% | 3.42% | -3.95% | |
| +6.62% | +14.95% | +6.19% | 3.42% | -4.07% |
These classes hold the same portfolio, so the 6.02pp spread over 5 years is the cost difference between them — roughly 1.20pp 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 | 58.3% |
| Floating rate | 41.7% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 2.6% |
| 1-3y | 6.5% |
| 3-5y | 15.9% |
| 5-10y | 39.4% |
| 10y+ | 35.6% |
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 | 51% |
| Credit spreads | 49% |
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 | +2.49 yr |
| High yield | +1.26 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 | 0.04 yr | 1% |
| 1 yr | 0.41 yr | 11% |
| 5 yr | 1.56 yr | 41% |
| 10 yr | 1.53 yr | 40% |
| 30 yr | 0.31 yr | 8% |
| 3 mo | 0.01 yr | 0% |
| 1 yr | 0.57 yr | 15% |
| 5 yr | 1.57 yr | 42% |
| 10 yr | 1.38 yr | 37% |
| 30 yr | 0.22 yr | 6% |
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 | +0.04 | +0.01 | +0.00 | $2.4k | $1.0k |
| 1 yr | +0.41 | +0.26 | +0.30 | $65.1k | $73.9k |
| 5 yr | +1.56 | +0.91 | +0.66 | $223.9k | $163.3k |
| 10 yr | +1.53 | +1.13 | +0.25 | $277.7k | $60.9k |
| 30 yr | +0.31 | +0.17 | +0.05 | $42.4k | $11.2k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Duration contribution in years, summing to the fund's 3.85 yr.
This is where the fund's rate exposure sits, not its currency risk — most international bond funds hedge the currency back to dollars, and the size of those hedges is not in the filing. Tenors are also summed across curves, so a 5-year JPY point and a 5-year USD point are added together.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | JH COLLATERAL | 6.46% | $158.96M | — |
| — | United States Treasury Note/Bond3.00% · due 2049-02-15 | 1.29% | $31.66M | — |
| — | United States Treasury Note/Bond3.50% · due 2033-02-15 | 0.90% | $22.21M | — |
| — | The AES Corporation7.60% floating · due 2055-01-15 | 0.89% | $21.94M | — |
| — | NEW ZEALAND GOVERNMENT BOND UNSECURED 05/34 4.254.25% · due 2034-05-15 | 0.84% | $20.63M | — |
| — | United States Treasury Note/Bond2.75% · due 2032-08-15 | 0.82% | $20.21M | — |
| — | Banco Santander SA7.25% floating · due 2035-12-03 | 0.76% | $18.71M | — |
| — | JAPAN GOVERNMENT TWO YEAR BOND BONDS 12/26 0.60.60% · due 2026-12-01 | 0.74% | $18.20M | — |
| — | Freeport-McMoRan Inc.5.45% · due 2043-03-15 | 0.73% | $18.08M | — |
| — | BRAZIL NOTAS DO TESOURO NACION NOTES 01/29 1010.00% · due 2029-01-01 | 0.73% | $17.95M | — |
Top 10 positions are 14.17% of net assets, top 25 23.31%, across 330 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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