In plain terms — John Hancock Income Securities Trust
Shares currently cost about 10.3% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 8.1% discount, so today's level is somewhat wide for this fund (Z-score -1.9). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 6.1% a year of the share price (5.4% of the assets). That is a payout rate, not a return: part of it may be capital being handed back.
Because the shares trade below the value of their assets, each dollar of reinvested distributions buys about $1.11 of assets — a ReinvestCapture™ rate of 6.8%, more than the payout rate itself. That is buying power, not a return.
The assets themselves fell 3.9% over the past year including distributions (NAV total return).
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Price and NAV, past year
Snapshot
Valuation vs. history
| Window | Average prem/disc | Std. dev. | Z-score | Observations |
|---|---|---|---|---|
| 3 months | -9.06% | 0.64% | -2.74 | 55 |
| 6 months | -8.98% | 0.53% | -3.48 | 108 |
| 1 year | -8.08% | 1.45% | -1.89 | 206 |
| 3 years | -7.50% | — | — | — |
| 5 years | -6.96% | — | — | — |
Current contemporaneous premium/discount -10.82% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -10.84% to -4.68%. A negative Z-score means a wider discount than the window average — not that the fund is undervalued.
Performance
| Series | 1M | 3M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) |
|---|---|---|---|---|---|---|
| Market price return | -2.98% | -7.85% | -13.75% | -14.98% | -0.26% | -8.46% |
| Market price total return | -2.98% | -6.50% | -10.15% | -10.03% | +4.97% | -3.37% |
| NAV return | -1.73% | -5.41% | -8.01% | -8.75% | +0.62% | -6.55% |
| NAV total return | -1.73% | -4.14% | -4.53% | -3.89% | +5.46% | -1.73% |
Through Oct 14, 2026. Total return reinvests distributions at the series value on the ex-date. Cumulative ≤ 1 year, annualised beyond.
About the fund
John Hancock Income Securities Trust is a closed ended fixed income mutual fund launched and managed by John Hancock Investment Management LLC. It is co-managed by John Hancock Asset Management. The fund invests in the fixed income markets of United States. It invests primarily in corporate and government bonds with average maturity of 7.57 years. The fund benchmarks the performance of its portfolios against the Lehman Brothers Government/ Credit Bond Index. John Hancock Income Securities Trust was formed in February 14, 1973 and is domiciled in United States.
CEF Explorer research page for John Hancock Income Securities Trust. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.