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John Hancock 529 Enrollment-Based Portfolio Quarterly Commentary

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⚡ Quantum Brief
U.S. equities sustained a rapid rebound from April 2025 through Q4 2025, though growth decelerated by year-end amid shifting market dynamics. Healthcare, previously underperforming in 2025, led S&P 500 gains in Q4, outperforming other sectors as investor sentiment shifted toward defensive assets. Investment-grade U.S. bonds rose 1.1% in Q4 per the Bloomberg Aggregate Index, reflecting cautious optimism in fixed-income markets amid stabilizing interest rates. The portfolio posted modest single-digit Q4 gains but underperformed its blended benchmark, citing tactical allocations and sector-specific headwinds. International value equities, overweight in the portfolio, boosted returns as the asset class outperformed broader global markets during the quarter.
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John Hancock Investment Management28 FollowersFollow5ShareSavePlay(7min)CommentsSummaryU.S. stocks extended a historically fast rebound that began in early April, although upward momentum slowed in the final quarter of the year.Healthcare, a laggard for much of 2025, was the top-performing sector in the S&P 500 Index during Q4.U.S. taxable investment-grade bonds gained 1.1% in the fourth quarter, as measured by the Bloomberg U.S.

Aggregate Bond Index.The portfolio recorded a single-digit gain for the quarter and slightly trailed its blended benchmark.A tactical overweight to international value equities further contributed, given the relatively strong performance of that group. Donny DBM/iStock via Getty Images Highlights • U.S. stocks extended a historically fast rebound that began in early April, although upward momentum slowed in the final quarter of the year. • The advance was supported by strong corporate fundamentals, a resilientThis article was written byJohn Hancock Investment Management28 FollowersFollowA company of Manulife Investment Management, John Hancock Investment Management serves investors through a unique multimanager approach, complementing our extensive in-house capabilities with an unrivaled network of specialized asset managers, backed by some of the most rigorous investment oversight in the industry. The result is a diverse lineup of time-tested investments from a premier asset manager with a heritage of financial stewardship. Note: This account is not managed or monitored by John Hancock Investment Management, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use John Hancock Investment Management's official channels.

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