N-CSRS 1 d333983.htm N-CSRS

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-2402

John Hancock Sovereign Bond Fund
(Exact name of registrant as specified in charter)

601 Congress Street, Boston, Massachusetts 02210
(Address of principal executive offices) (Zip code)

Salvatore Schiavone
Treasurer

601 Congress Street

Boston, Massachusetts 02210

(Name and address of agent for service)

Registrant's telephone number, including area code: 617-663-4497

Date of fiscal year end:       May 31
 
 
Date of reporting period: November 30, 2017



 

ITEM 1. REPORTS TO STOCKHOLDERS.

 



John Hancock

Bond Fund

Semiannual report 11/30/17

jhreport_income-cover.jpg


jhreport_letter.jpg

A message to shareholders

Dear shareholder,

The divergent performance of bond markets over the latter half of 2017 highlights the need for a diversified approach to fixed income. Credit-sensitive sectors, including high-yield bonds and emerging-market debt, posted gains as investors grew increasingly optimistic about the economic outlook both in the United States and globally, particularly after the passage of sweeping tax reform in the U.S. Segments of the market more sensitive to interest-rate changes, meanwhile, posted muted gains or even losses, as was the case with certain U.S. Treasury securities. The pressures driving these markets could persist for some time: The U.S. Federal Reserve (Fed) continued to gradually normalize interest rates on the back of an improving economy, and that trend is expected to continue into 2018 under new Fed Chairman Jerome Powell.

Environments like these can be challenging for investors: The relative safety offered by high-quality bonds is often tested when rates rise, while the credit segments of the market can be more susceptible to economic volatility. Although there are no easy answers for income-seeking investors, your best resource, as always, is your financial advisor, who can help position your portfolio so that it is sufficiently diversified to meet your long-term objectives and to withstand the inevitable bumps along the road.

On behalf of everyone at John Hancock Investments, I'd like to take this opportunity to welcome new shareholders and to thank existing shareholders for the continued trust you've placed in us.

Sincerely,

andrewarnott_sig.jpg

Andrew G. Arnott
President and Chief Executive Officer
John Hancock Investments

This commentary reflects the CEO's views, which are subject to change at any time. Investing involves risks, including the potential loss of principal. Diversification does not guarantee a profit or eliminate the risk of a loss. It is not possible to invest directly into an index. For more up-to-date information, please visit our website at jhinvestments.com.


John Hancock
Bond Fund

Table of contents

     
2   Your fund at a glance
4   Discussion of fund performance
8   A look at performance
10   Your expenses
12   Fund's investments
44   Financial statements
47   Financial highlights
55   Notes to financial statements
64   Continuation of investment advisory and subadvisory agreements
70   More information

SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       1


Your fund at a glance

INVESTMENT OBJECTIVE


The fund seeks a high level of current income consistent with prudent investment risk.

AVERAGE ANNUAL TOTAL RETURNS AS OF 11/30/17 (%)


jh21sa_aatrbar.jpg

The Bloomberg Barclays U.S. Aggregate Bond Index is an unmanaged index of dollar-denominated and non-convertible investment-grade debt issues.

It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.

Figures from Morningstar, Inc. include reinvested distributions and do not take into account sales charges. Actual load-adjusted performance is lower.

The past performance shown here reflects reinvested distributions and the beneficial effect of any expense reductions, and does not guarantee future results. Returns for periods shorter than one year are cumulative. Performance of the other share classes will vary based on the difference in the fees and expenses of those classes. Shares will fluctuate in value and, when redeemed, may be worth more or less than their original cost. Current month-end performance may be lower or higher than the performance cited, and can be found at jhinvestments.com or by calling 800-225-5291. For further information on the fund's objectives, risks, and strategy, see the fund's prospectus.

SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       2


PERFORMANCE HIGHLIGHTS OVER THE LAST SIX MONTHS


Longer-term yields were somewhat volatile though generally rangebound

Yields fluctuated during the period, while the U.S. Federal Reserve continued to take steps to normalize monetary policy.

Risk assets led the bond market's advance

Investors' outlook for improved economic conditions in the United States fueled gains in risk assets, such as high-yield bonds, while interest-rate-sensitive securities, such as U.S. Treasuries, struggled.

The fund generated a positive return

The fund notched gains during the period, outperforming its benchmark, the Bloomberg Barclays U.S. Aggregate Bond Index.

PORTFOLIO COMPOSITION AS OF 11/30/17 (%)


jh2x03_portfoliocomppie.jpg

A note about risks

Fixed-income investments are subject to interest-rate and credit risk; their value will normally decline as interest rates rise or if a creditor, grantor, or counterparty is unable or unwilling to make principal, interest, or settlement payments. Investments in higher-yielding, lower-rated securities are subject to a higher risk of default. A fund concentrated in one sector or that holds a limited number of securities may fluctuate more than a fund that invests in a wider variety of sectors. Foreign investing has additional risks, such as currency and market volatility and political and social instability. Mortgage- and asset-backed securities may be sensitive to changes in interest rates, and may be subject to early repayment and the market's perception of issuer creditworthiness. Liquidity—the extent to which a security may be sold or a derivative position closed without negatively affecting its market value—may be impaired by reduced trading volume, heightened volatility, rising interest rates, and other market conditions. Derivatives transactions, such as hedging and other strategic transactions, may increase a fund's volatility and could produce disproportionate losses, potentially more than the fund's principal investment. Fund distributions generally depend on income from underlying investments and may vary or cease altogether in the future. Please see the fund's prospectus for additional risks.

SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       3


Discussion of fund performance

An interview with Portfolio Managers Howard C. Greene, CFA, and Jeffrey N. Given, CFA, John Hancock Asset Management a division of Manulife Asset Management (US) LLC

howardcgreene.jpg

Howard C. Greene, CFA
Portfolio Manager
John Hancock Asset Management

jeffreyngiven.jpg

Jeffrey N. Given, CFA
Portfolio Manager
John Hancock Asset Management

The six months ended November 30, 2017, represented a relatively calm period for fixed-income investors. What were some of the factors moving markets?

A number of themes drove market performance during the past six months. Investor confidence was generally high, as data continued to reflect strengthening economies, both in the United States and abroad. Investors in the United States finally had some policy news to react to, as a sweeping tax reform bill was signed into law after period end.

Interest rates continued to be rangebound, with yields on 10-year U.S. Treasuries declining steadily through early September, then reversing direction to close out November slightly higher than where they began. The U.S. Federal Reserve (Fed) raised rates twice—once in June and again after the period ended in December—bringing the federal funds rate, the benchmark interest rate for short-term lending, to 1.25%-1.50%.

Against this backdrop, risk assets continued to notch gains, with high-yield bonds (generally those rated BB and below) and emerging-market debt both gaining ground, while more interest-rate-sensitive segments of the market, such as U.S. Treasuries, underperformed, and in some cases posted losses.

With Jerome Powell likely to become the next Fed chair in early 2018, what is your outlook for interest rates and monetary policy?

The consensus is that Powell, once confirmed, will seek to continue the moderate, data-driven approach the Fed has been pursuing since the financial crisis in 2007-2008. Powell has been a governor on the Federal Reserve since 2012 and has firsthand experience navigating the balancing act that is accommodating economic growth on one hand and normalizing policy on the other. As for interest rates, the Fed's own projections call for two to three rate increases in 2018, which sounds like a reasonable estimate to us.

SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       4


"... risk assets continued to notch gains, with high-yield bonds and emerging-market debt both gaining ground, while more interest-rate-sensitive segments of the market, such as U.S. Treasuries, underperformed, and in some cases posted losses."
The more noteworthy change, however, has to do with the Fed's plans to reduce the size of its balance sheet. After multiple iterations of bond-buying programs in the wake of the financial crisis, the Fed now holds approximately $4.5 trillion worth of debt on its books, including $1.8 trillion in agency mortgage-backed securities (MBS). In October, the Fed began implementing a plan by which it will reinvest fewer and fewer proceeds from maturing debt in order to shrink its balance sheet over time. It remains to be seen what effect this might have on the agency MBS market—the Fed is the largest buyer in the space today, and with already tight valuations, any downturn in demand could have a material effect on prices. With that in mind, we have been taking a somewhat cautious

QUALITY COMPOSITION AS OF 11/30/17 (%)


jh2x03_qualitycomppie.jpg

SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       5


"While the economy has been showing some encouraging signs, we still don't believe now is the time to be making big bets on either interest rates or credit."
stance on agency MBS, and the fund holds 21.1% of net assets in U.S. government agency debt, including collateralized mortgage obligations.

What positions helped the fund's performance versus its benchmark, the Bloomberg Barclays U.S. Aggregate Bond Index?

One of the biggest positive contributions to performance came from the fund's limited exposure to U.S. Treasuries and its slightly below-benchmark exposure to duration, which measures a portfolio's sensitivity to interest rates. The fund's duration at period end was 5.75 years, compared with 6.00 years for the benchmark. Treasuries generally lagged the rest of the bond market and sold off toward the end of the period; the fund's underweight position contributed positively to relative returns. Likewise, the fund's lower duration profile meant it was less susceptible to price declines as interest rates rose.

Another big contributor was the fund's modest position in high-yield debt, which gained during the period. Investment-grade corporate debt also had a positive effect on returns, and strong security selection in the corporate bond space was beneficial to relative results. Finally, the fund's overweight exposure to commercial mortgage-backed securities (CMBS) boosted relative returns. Fundamentals in commercial real estate, which tend to be correlated with the health of the overall economy, continued to strengthen during the period and CMBS benefited.

What positions detracted from relative performance?

The fund's position in investment-grade U.S. utilities was a slight drag on returns, as were allocations to certain asset-backed securities, including securities backed by auto loans and credit

COUNTRY COMPOSITION AS OF 11/30/17 (%)


   
United States 89.0
United Kingdom 2.1
Netherlands 1.4
France 1.3
Ireland 1.0
Other countries 5.2
TOTAL 100.0
As a percentage of net assets.  

SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       6


card receivables. Altogether, these were relatively small positions for the fund and were only a minor factor in the fund's relative results versus the benchmark.

How are you positioning the fund heading into 2018?

We're continuing to take a fairly conservative stance in general as we head into the new year. While the economy has been showing some encouraging signs, we still don't believe now is the time to be making big bets on either interest rates or credit. To that end, we held a modestly defensive stance with respect to the fund's duration; however, sector weighting and individual security selection remain our primary strategic emphasis. With that said, the fund holds some floating-rate securities, primarily MBS that hold adjustable rate loans. These investments can benefit should interest rates continue to move higher, and we believe they provide an element of diversification to the fund.

With regard to credit, we have been focused on high-quality securities within both the investment-grade space and the high-yield area. While our primary goal is to offer investors a well-diversified portfolio, in general we prefer credit-driven holdings over rate-sensitive securities, given the incremental yields offered and the strength of underlying fundamentals.

The reality for investors, however, is that for the foreseeable future, we are likely to remain in an environment of coupon-driven returns. There are not a lot of opportunities in the market for meaningful price appreciation, and as the Fed continues to normalize monetary policy, individual security selection will become increasingly important. While the markets seem to have already priced in stronger economic growth under a Trump administration, we believe our slightly more conservative stance is warranted until policy changes become realities and that growth manifests itself in economic data.

MANAGED BY


   
  howardcgreene.jpg Howard C. Greene, CFA
On the fund since 2002
Investing since 1979
  jeffreyngiven.jpg Jeffrey N. Given, CFA
On the fund since 2006
Investing since 1993

jhassetmanagement_logo.jpg

The views expressed in this report are exclusively those of Howard C. Greene, CFA, and Jeffrey N. Given, CFA, John Hancock Asset Management, and are subject to change. They are not meant as investment advice. Please note that the holdings discussed in this report may not have been held by the fund for the entire period. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk.
SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       7


A look at performance

TOTAL RETURNS FOR THE PERIOD ENDED  NOVEMBER 30, 2017 


                       
Average annual total returns (%)
with maximum sales charge
  Cumulative total returns (%)
with maximum sales charge
  SEC 30-day
yield (%)
subsidized
  SEC 30-day
yield (%)
unsubsidized1
  1-year 5-year 10-year   6-month 5-year 10-year   as of
11-30-17
  as of
11-30-17
Class A 0.75 2.37 5.27   -2.67 12.43 67.19   2.56   2.55
Class B -0.85 2.12 5.12   -4.04 11.07 64.72   1.97   1.96
Class C 3.21 2.49 4.97   0.01 13.07 62.45   1.97   1.96
Class I2 5.26 3.53 6.10   1.52 18.97 80.77   2.97   2.96
Class R22,3 4.78 3.16 5.70   1.26 16.81 74.05   2.59   2.58
Class R42,3 5.10 3.31 5.76   1.44 17.70 75.10   2.82   2.71
Class R62,3 5.37 3.66 6.01   1.51 19.68 79.20   3.07   3.06
Class NAV2,3 5.37 3.41 5.81   1.58 18.23 75.89   3.08   3.07
Index 3.21 1.98 3.99   0.68 10.29 47.84    

Performance figures assume all distributions have been reinvested. Figures reflect maximum sales charges on Class A shares of 4.0% and the applicable contingent deferred sales charge (CDSC) on Class B and Class C shares. The returns for Class A shares have been adjusted to reflect the reduction in the maximum sales charge from 4.5% to 4.0%, effective 2-3-14. The Class B shares' CDSC declines annually between years 1 to 6 according to the following schedule: 5%, 4%, 3%, 3%, 2%, 1%. No sales charge will be assessed after the sixth year. Class C shares sold within one year of purchase are subject to a 1% CDSC. Sales charges are not applicable to Class I, Class R2, Class R4, Class R6, and Class NAV shares.

The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectuses for the fund and may differ from those disclosed in the Financial highlights tables in this report. Had the fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

                 
  Class A Class B Class C Class I Class R2 Class R4 Class R6 Class NAV
Gross (%) 0.84 1.54 1.54 0.52 0.93 0.78 0.43 0.41
Net (%) 0.84 1.54 1.54 0.52 0.93 0.68 0.43 0.41

Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for each class.

The returns reflect past results and should not be considered indicative of future performance. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. For current to the most recent month-end performance data, please call 800-225-5291 or visit the fund's website at jhinvestments.com.

The performance table above and the chart on the next page do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The fund's performance results reflect any applicable fee waivers or expense reductions, without which the expenses would increase and results would have been less favorable.

Index is the Bloomberg Barclays U.S. Aggregate Bond Index.

See the following page for footnotes.

SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       8


This chart and table show what happened to a hypothetical $10,000 investment in John Hancock Bond Fund for the share classes and periods indicated, assuming all distributions were reinvested. For comparison, we've shown the same investment in the Bloomberg Barclays U.S. Aggregate Bond Index.

jh21sa_growthof10k.jpg

         
  Start date With maximum
sales charge ($)
Without
sales charge ($)
Index ($)
Class B4 11-30-07 16,472 16,472 14,784
Class C4 11-30-07 16,245 16,245 14,784
Class I2,3 11-30-07 18,077 18,077 14,784
Class R22,3 11-30-07 17,405 17,405 14,784
Class R42,3 11-30-07 17,510 17,510 14,784
Class R62,3 11-30-07 17,920 17,920 14,784
Class NAV2,3 11-30-07 17,589 17,589 14,784

The values shown in the chart for Class A shares with maximum sales charge have been adjusted to reflect the reduction in the Class A shares' maximum sales charge from 4.5% to 4.0%, which became effective on 2-3-14.

The Bloomberg Barclays U.S. Aggregate Bond Index is an unmanaged index of dollar-denominated and non-convertible investment-grade debt issues.

It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.

Footnotes related to performance pages

1 Unsubsidized yield reflects what the yield would have been without the effect of reimbursements and waivers.
2 For certain types of investors, as described in the fund's prospectuses.
3 Class R2 shares were first offered 3-1-12; Class R4 shares were first offered 3-27-15; Class R6 shares were first offered 9-1-11; Class NAV shares were first offered 8-31-15. Returns prior to these dates are those of Class A shares except they do not include sales charges, and have not been adjusted for class-specific expenses; otherwise returns would vary.
4 The contingent deferred sales charge is not applicable.
SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       9


Your expenses

These examples are intended to help you understand your ongoing operating expenses of investing in the fund so you can compare these costs with the ongoing costs of investing in other mutual funds.

Understanding fund expenses

As a shareholder of the fund, you incur two types of costs:

Transaction costs, which include sales charges (loads) on purchases or redemptions (varies by share class), minimum account fee charge, etc.
Ongoing operating expenses, including management fees, distribution and service fees (if applicable), and other fund expenses.

We are presenting only your ongoing operating expenses here.

Actual expenses/actual returns

The first line of each share class in the table on the following page is intended to provide information about the fund's actual ongoing operating expenses, and is based on the fund's actual return. It assumes an account value of $1,000.00 on June 1, 2017, with the same investment held until November 30, 2017.

Together with the value of your account, you may use this information to estimate the operating expenses that you paid over the period. Simply divide your account value at November 30, 2017, by $1,000.00, then multiply it by the "expenses paid" for your share class from the table. For example, for an account value of $8,600.00, the operating expenses should be calculated as follows:

jhincome_expense-example.jpg

Hypothetical example for comparison purposes

The second line of each share class in the table on the following page allows you to compare the fund's ongoing operating expenses with those of any other fund. It provides an example of the fund's hypothetical account values and hypothetical expenses based on each class's actual expense ratio and an assumed 5% annualized return before expenses (which is not the fund's actual return). It assumes an account value of $1,000.00 on June 1, 2017, with the same investment held until November 30, 2017. Look in any other fund shareholder report to find its hypothetical example and you will be able to compare these expenses. Please remember that these hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period.

Remember, these examples do not include any transaction costs, therefore, these examples will not help you to determine the relative total costs of owning different funds. If transaction costs were included, your expenses would have been higher. See the prospectuses for details regarding transaction costs.

SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       10


SHAREHOLDER EXPENSE EXAMPLE CHART


           
  Account
value on
6-1-2017
Ending
value on
11-30-2017
Expenses
paid during
period ended
11-30-20171
Annualized
expense
ratio
Class A Actual expenses/actual returns $1,000.00 $1,013.70 $3.99 0.79%
  Hypothetical example for comparison purposes 1,000.00 1,021.10 4.00 0.79%
Class B Actual expenses/actual returns 1,000.00 1,009.50 7.51 1.49%
  Hypothetical example for comparison purposes 1,000.00 1,017.60 7.54 1.49%
Class C Actual expenses/actual returns 1,000.00 1,010.10 7.51 1.49%
  Hypothetical example for comparison purposes 1,000.00 1,017.60 7.54 1.49%
Class I Actual expenses/actual returns 1,000.00 1,015.20 2.42 0.48%
  Hypothetical example for comparison purposes 1,000.00 1,022.70 2.43 0.48%
Class R2 Actual expenses/actual returns 1,000.00 1,012.60 4.44 0.88%
  Hypothetical example for comparison purposes 1,000.00 1,020.70 4.46 0.88%
Class R4 Actual expenses/actual returns 1,000.00 1,014.40 3.23 0.64%
  Hypothetical example for comparison purposes 1,000.00 1,021.90 3.24 0.64%
Class R6 Actual expenses/actual returns 1,000.00 1,015.10 1.97 0.39%
  Hypothetical example for comparison purposes 1,000.00 1,023.10 1.98 0.39%
Class NAV Actual expenses/actual returns 1,000.00 1,015.80 1.92 0.38%
  Hypothetical example for comparison purposes 1,000.00 1,023.20 1.93 0.38%

1 Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/365 (to reflect the one-half year period).
SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       11



Fund’s investments




AS OF 11-30-17 (unaudited)        
Rate (%) Maturity date Par value^ Value
U.S. Government and Agency obligations 34.2% $3,888,161,350
(Cost $3,865,308,219)
U.S. Government 14.6% 1,664,442,273
U.S. Treasury
Bond 2.750 11-15-42 369,130,000 365,034,964
Bond 2.750 08-15-47 308,127,000 302,482,018
Bond 3.000 02-15-47 166,770,000 172,046,706
Note 1.375 09-15-20 141,265,000 139,355,716
Note 1.500 08-15-20 101,610,000 100,609,777
Note 1.625 10-15-20 47,270,000 46,906,243
Note 2.000 11-30-20 265,375,000 265,996,973
Note 2.250 11-15-27 236,559,000 233,029,095
Treasury Inflation Protected Security 0.375 07-15-25 39,236,577 38,980,781
U.S. Government Agency 19.6% 2,223,719,077
Federal Home Loan Mortgage Corp.
30 Yr Pass Thru 3.000 03-01-43 7,246,850 7,296,060
30 Yr Pass Thru 3.000 04-01-43 8,039,682 8,069,151
30 Yr Pass Thru 3.000 06-01-43 2,934,084 2,947,590
30 Yr Pass Thru 3.000 05-01-46 5,287,031 5,297,324
30 Yr Pass Thru 3.000 10-01-46 21,444,570 21,480,429
30 Yr Pass Thru 3.000 11-01-46 20,328,459 20,333,094
30 Yr Pass Thru 3.000 12-01-46 90,645,153 90,609,167
30 Yr Pass Thru 3.000 04-01-47 59,491,305 59,504,869
30 Yr Pass Thru 3.500 02-01-41 19,075,369 19,658,317
30 Yr Pass Thru 3.500 01-01-42 1,898,460 1,962,113
30 Yr Pass Thru 3.500 05-01-42 1,711,417 1,765,858
30 Yr Pass Thru 3.500 06-01-42 7,418,222 7,654,198
30 Yr Pass Thru 3.500 08-01-42 2,009,423 2,073,343
30 Yr Pass Thru 3.500 09-01-42 2,350,571 2,423,874
30 Yr Pass Thru 3.500 04-01-44 8,487,562 8,788,056
30 Yr Pass Thru 3.500 05-01-45 20,374,578 21,003,598
30 Yr Pass Thru 3.500 01-01-46 2,466,934 2,541,553
30 Yr Pass Thru 3.500 08-01-46 102,181,038 105,399,516
30 Yr Pass Thru 3.500 09-01-46 43,283,282 44,533,726
30 Yr Pass Thru 3.500 10-01-46 6,807,957 7,023,457
30 Yr Pass Thru 3.500 10-01-46 33,298,375 34,368,012
30 Yr Pass Thru 3.500 12-01-46 21,441,992 22,083,864
30 Yr Pass Thru 3.500 01-01-47 12,091,470 12,468,547
30 Yr Pass Thru 3.500 02-01-47 21,364,062 22,040,323
30 Yr Pass Thru 3.500 04-01-47 22,186,491 22,878,383
30 Yr Pass Thru 3.500 11-01-47 56,385,000 58,213,864
30 Yr Pass Thru 4.000 01-01-41 20,497,785 21,592,996
30 Yr Pass Thru 4.000 03-01-42 10,046,812 10,582,051
30 Yr Pass Thru 4.000 11-01-43 5,979,406 6,369,895

SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       12



    Rate (%)     Maturity date     Par value^     Value
U.S. Government Agency (continued)
30 Yr Pass Thru 4.000 02-01-44 2,700,654 $2,839,044
30 Yr Pass Thru 4.000 07-01-45 30,304,732 31,985,493
30 Yr Pass Thru 4.000 01-01-47 18,910,079 19,961,824
30 Yr Pass Thru 4.000 03-01-47 101,902,967 107,177,364
30 Yr Pass Thru 4.000 04-01-47 32,478,563 34,371,235
30 Yr Pass Thru 4.000 05-01-47 24,457,798 25,890,707
30 Yr Pass Thru 4.000 10-01-47 41,508,791 43,895,264
30 Yr Pass Thru 4.500 11-01-39 2,971,496 3,189,982
30 Yr Pass Thru 4.500 02-01-41 4,761,691 5,108,828
30 Yr Pass Thru 4.500 03-01-41 3,052,371 3,307,804
30 Yr Pass Thru 4.500 09-01-41 1,984,755 2,127,587
30 Yr Pass Thru 4.500 10-01-41 2,200,213 2,358,551
30 Yr Pass Thru 4.500 06-01-47 27,904,891 30,144,147
30 Yr Pass Thru 5.000 03-01-41 1,541,328 1,673,784
30 Yr Pass Thru 5.500 05-01-38 309,133 346,356
30 Yr Pass Thru 5.500 11-01-39 6,323,912 7,085,375
Federal National Mortgage Association
15 Yr Pass Thru 3.000 09-01-27 5,435,245 5,549,257
15 Yr Pass Thru 3.500 02-01-26 860,854 889,874
15 Yr Pass Thru 3.500 03-01-26 6,617,060 6,840,127
15 Yr Pass Thru 4.000 12-01-24 2,719,797 2,831,348
15 Yr Pass Thru 5.000 05-01-18 78 79
15 Yr Pass Thru 5.000 06-01-18 246 247
15 Yr Pass Thru 5.000 07-01-19 966 982
15 Yr Pass Thru 5.500 02-01-18 240 241
30 Yr Pass Thru 3.000 07-01-42 5,579,903 5,598,177
30 Yr Pass Thru 3.000 10-01-42 15,881,698 15,933,709
30 Yr Pass Thru 3.000 12-01-42 2,575,043 2,583,476
30 Yr Pass Thru 3.000 01-01-43 1,875,824 1,881,967
30 Yr Pass Thru 3.000 03-01-43 2,016,374 2,026,758
30 Yr Pass Thru 3.000 04-01-43 3,216,916 3,227,451
30 Yr Pass Thru 3.000 05-01-43 2,807,302 2,822,636
30 Yr Pass Thru 3.000 06-01-43 2,727,214 2,736,146
30 Yr Pass Thru 3.000 07-01-43 33,998,068 34,120,033
30 Yr Pass Thru 3.000 08-01-46 68,805,396 68,826,457
30 Yr Pass Thru 3.000 09-01-46 7,459,423 7,471,030
30 Yr Pass Thru 3.000 10-01-46 5,135,520 5,143,511
30 Yr Pass Thru 3.000 01-01-47 39,193,554 39,211,677
30 Yr Pass Thru 3.000 10-01-47 47,417,271 47,424,379
30 Yr Pass Thru 3.500 11-01-40 4,038,234 4,162,906
30 Yr Pass Thru 3.500 06-01-42 4,392,524 4,531,565
30 Yr Pass Thru 3.500 08-01-42 7,127,810 7,353,434
30 Yr Pass Thru 3.500 01-01-43 3,316,350 3,418,735
30 Yr Pass Thru 3.500 02-01-43 1,022,812 1,058,544
30 Yr Pass Thru 3.500 05-01-43 1,931,777 1,999,264

SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       13



Rate (%) Maturity date Par value^ Value
U.S. Government Agency (continued)
30 Yr Pass Thru 3.500 06-01-43 26,898,473 $27,817,166
30 Yr Pass Thru 3.500 07-01-43 16,707,181 17,272,257
30 Yr Pass Thru 3.500 01-01-45 5,846,455 6,046,136
30 Yr Pass Thru 3.500 04-01-45 19,677,939 20,297,751
30 Yr Pass Thru 3.500 04-01-45 5,338,061 5,506,199
30 Yr Pass Thru 3.500 04-01-45 22,671,857 23,385,971
30 Yr Pass Thru 3.500 02-01-46 37,933,081 38,938,224
30 Yr Pass Thru 3.500 07-01-46 61,174,690 62,784,117
30 Yr Pass Thru 3.500 02-01-47 57,889,395 59,640,422
30 Yr Pass Thru 3.500 03-01-47 49,213,238 50,763,347
30 Yr Pass Thru 3.500 07-01-47 79,643,814 82,152,419
30 Yr Pass Thru 3.500 11-01-47 71,903,481 74,123,343
30 Yr Pass Thru 4.000 09-01-40 24,605,294 25,932,469
30 Yr Pass Thru 4.000 11-01-40 3,442,843 3,675,884
30 Yr Pass Thru 4.000 12-01-40 7,780,542 8,193,405
30 Yr Pass Thru 4.000 01-01-41 8,195,421 8,631,257
30 Yr Pass Thru 4.000 02-01-41 2,616,820 2,756,741
30 Yr Pass Thru 4.000 09-01-41 19,097,434 20,150,978
30 Yr Pass Thru 4.000 10-01-41 8,239,663 8,680,762
30 Yr Pass Thru 4.000 01-01-42 4,461,512 4,702,159
30 Yr Pass Thru 4.000 03-01-42 2,248,971 2,369,223
30 Yr Pass Thru 4.000 05-01-42 8,843,514 9,316,375
30 Yr Pass Thru 4.000 07-01-42 574,232 605,205
30 Yr Pass Thru 4.000 09-01-43 10,372,163 11,006,173
30 Yr Pass Thru 4.000 10-01-43 16,916,174 17,899,326
30 Yr Pass Thru 4.000 01-01-44 8,204,028 8,691,407
30 Yr Pass Thru 4.000 12-01-45 28,186,351 29,640,620
30 Yr Pass Thru 4.000 02-01-46 19,606,814 20,508,136
30 Yr Pass Thru 4.000 04-01-46 19,993,789 20,912,900
30 Yr Pass Thru 4.000 06-01-46 13,173,900 13,779,501
30 Yr Pass Thru 4.000 07-01-46 32,733,421 34,238,170
30 Yr Pass Thru 4.000 10-01-46 7,738,626 8,089,532
30 Yr Pass Thru 4.000 01-01-47 23,536,925 24,964,612
30 Yr Pass Thru 4.000 03-01-47 36,266,785 38,137,963
30 Yr Pass Thru 4.000 04-01-47 33,523,687 35,567,620
30 Yr Pass Thru 4.500 11-01-39 5,682,817 6,102,213
30 Yr Pass Thru 4.500 08-01-40 3,999,847 4,293,164
30 Yr Pass Thru 4.500 08-01-40 2,637,379 2,830,783
30 Yr Pass Thru 4.500 02-01-41 10,018,300 10,748,265
30 Yr Pass Thru 4.500 05-01-41 11,909,596 12,784,888
30 Yr Pass Thru 4.500 06-01-41 8,600,252 9,236,301
30 Yr Pass Thru 4.500 07-01-41 6,011,181 6,455,750
30 Yr Pass Thru 4.500 08-01-41 4,382,192 4,706,286
30 Yr Pass Thru 4.500 05-01-42 9,202,390 9,882,971
30 Yr Pass Thru 4.500 11-01-42 6,363,040 6,857,492

SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       14



Rate (%) Maturity date Par value^ Value
U.S. Government Agency (continued)
30 Yr Pass Thru 4.500 01-01-43 1,864,637 $1,999,627
30 Yr Pass Thru 4.500 10-01-45 21,693,067 23,178,787
30 Yr Pass Thru 4.500 05-01-46 15,135,279 16,183,692
30 Yr Pass Thru 5.000 03-01-34 1,541,408 1,675,492
30 Yr Pass Thru 5.000 12-01-34 6,780 7,378
30 Yr Pass Thru 5.000 02-01-36 2,045,774 2,227,615
30 Yr Pass Thru 5.000 11-01-36 384,161 418,411
30 Yr Pass Thru 5.000 08-01-40 4,245,183 4,617,626
30 Yr Pass Thru 5.000 09-01-40 4,617,824 5,027,522
30 Yr Pass Thru 5.000 02-01-41 2,868,700 3,120,380
30 Yr Pass Thru 5.000 03-01-41 3,439,300 3,741,040
30 Yr Pass Thru 5.000 04-01-41 2,078,793 2,293,653
30 Yr Pass Thru 5.000 07-01-42 2,465,036 2,681,302
30 Yr Pass Thru 5.500 12-01-34 85,650 95,120
30 Yr Pass Thru 6.500 01-01-39 2,063,374 2,371,240
30 Yr Pass Thru 7.000 09-01-31 3,148 3,674
30 Yr Pass Thru 7.000 01-01-32 155 181
30 Yr Pass Thru 7.000 05-01-32 129 151
30 Yr Pass Thru 7.000 06-01-32 153 178
30 Yr Pass Thru 7.500 09-01-29 94 110
30 Yr Pass Thru 7.500 12-01-29 95 111
30 Yr Pass Thru 7.500 12-01-30 31 36
30 Yr Pass Thru 7.500 01-01-31 47 55
30 Yr Pass Thru 7.500 05-01-31 388 458
30 Yr Pass Thru 7.500 08-01-31 177 205
Note (6 month LIBOR + 2.122%) (A) 3.497 07-01-33 439 455
Government National
Mortgage Association
30 Yr Pass Thru 4.000 02-15-41 2,750,258 2,904,189
30 Yr Pass Thru 5.000 04-15-35 7,860 8,609
30 Yr Pass Thru 5.500 03-15-35 6,473 7,253
30 Yr Pass Thru 6.000 03-15-33 3,309 3,794
30 Yr Pass Thru 6.000 06-15-33 1,224 1,418
30 Yr Pass Thru 6.500 09-15-28 491 560
30 Yr Pass Thru 6.500 09-15-29 245 280
30 Yr Pass Thru 6.500 08-15-31 334 386
30 Yr Pass Thru 7.000 04-15-29 943 1,092
30 Yr Pass Thru 8.000 10-15-26 457 531
Foreign government obligations 0.5% $56,863,173
(Cost $53,719,926)
Argentina 0.3% 31,170,518
City of Buenos Aires
Bond (B) 7.500 06-01-27 3,650,000 4,075,225
Provincia de Buenos Aires
Bond (B) 7.875 06-15-27 7,380,000 8,239,032

SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       15



Rate (%) Maturity date Par value^ Value
Argentina (continued)          
Republic of Argentina
Bond 6.875 01-26-27 3,848,000 $4,205,864
Bond 7.500 04-22-26 8,800,000 9,948,400
Bond 8.280 12-31-33 4,030,859 4,701,997
Brazil 0.2% 25,692,655
Federative Republic of Brazil
Note 10.000 01-01-23 BRL 80,575,000 25,692,655
Corporate bonds 44.2% $5,027,736,316
(Cost $4,954,039,154)
Consumer discretionary 5.9% 670,125,086
Auto components 0.2%
Lear Corp. 5.250 01-15-25 10,309,000 11,004,736
Nemak SAB de CV (B) 5.500 02-28-23 7,496,000 7,702,140
ZF North America Capital, Inc. (B) 4.750 04-29-25 5,990,000 6,381,626
Automobiles 1.2%
American Honda Finance Corp. 2.000 02-14-20 20,220,000 20,143,230
Daimler Finance North America LLC (B) 2.200 05-05-20 9,875,000 9,826,264
Ford Motor Company 4.750 01-15-43 7,510,000 7,433,024
Ford Motor Credit Company LLC 2.375 03-12-19 7,838,000 7,841,275
Ford Motor Credit Company LLC 5.875 08-02-21 24,785,000 27,390,915
General Motors Company 4.875 10-02-23 18,239,000 19,714,800
General Motors Financial Company, Inc. 4.000 01-15-25 18,144,000 18,485,362
General Motors Financial Company, Inc. 4.300 07-13-25 15,411,000 15,934,041
Mclaren Finance PLC (B) 5.750 08-01-22 2,925,000 2,983,500
Diversified consumer services 0.1%
Laureate Education, Inc. (B) 8.250 05-01-25 5,620,000 5,946,634
Service Corp. International 5.375 05-15-24 8,665,000 9,119,913
Hotels, restaurants and leisure 0.5%
CCM Merger, Inc. (B) 6.000 03-15-22 8,000,000 8,220,000
Chester Downs & Marina LLC (B) 9.250 02-01-20 9,575,000 9,808,630
Eldorado Resorts, Inc. 7.000 08-01-23 3,770,000 4,048,038
GLP Capital LP 5.375 04-15-26 8,100,000 8,742,897
Hilton Grand Vacations Borrower LLC (B) 6.125 12-01-24 3,245,000 3,537,050
International Game Technology PLC (B) 6.500 02-15-25 7,015,000 7,900,644
Jacobs Entertainment, Inc. (B) 7.875 02-01-24 4,748,000 5,104,100
Mohegan Gaming & Entertainment (B) 7.875 10-15-24 7,565,000 7,971,619
Waterford Gaming LLC (B)(C)(D) 8.625 09-15-14 440,015 0
Internet and direct marketing retail 1.3%
Amazon.com, Inc. (B) 3.150 08-22-27 25,010,000 25,018,168
Amazon.com, Inc. (B) 4.050 08-22-47 25,587,000 26,627,003
Expedia, Inc. (B) 3.800 02-15-28 23,520,000 22,595,478
Expedia, Inc. 5.000 02-15-26 24,972,000 26,782,058
Netflix, Inc. (B) 4.875 04-15-28 11,555,000 11,396,119
QVC, Inc. 4.375 03-15-23 10,252,000 10,546,689

SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       16



   Rate (%)    Maturity date    Par value^    Value
Consumer discretionary (continued)
Internet and direct marketing retail (continued)
QVC, Inc. 5.125 07-02-22 6,569,000 $6,977,347
QVC, Inc. 5.450 08-15-34 7,449,000 7,389,740
The Priceline Group, Inc. 2.750 03-15-23 10,570,000 10,449,443
Leisure products 0.1%
Vista Outdoor, Inc. 5.875 10-01-23 9,997,000 9,797,060
Media 2.3%
Altice Financing SA (B) 6.625 02-15-23 9,120,000 9,348,000
AMC Entertainment Holdings, Inc. 6.125 05-15-27 11,936,000 11,831,560
Cengage Learning, Inc. (B) 9.500 06-15-24 9,555,000 8,551,725
Charter Communications Operating LLC 4.200 03-15-28 22,295,000 21,920,912
Charter Communications Operating LLC 6.484 10-23-45 22,415,000 25,771,613
Clear Channel Worldwide Holdings, Inc. 6.500 11-15-22 10,227,000 10,342,054
Lions Gate Entertainment Corp. (B) 5.875 11-01-24 6,805,000 7,187,781
McGraw-Hill Global Education
Holdings LLC (B) 7.875 05-15-24 7,975,000 7,955,063
MDC Partners, Inc. (B) 6.500 05-01-24 10,687,000 10,740,435
Midcontinent Communications (B) 6.875 08-15-23 8,738,000 9,284,125
Myriad International Holdings BV (B) 4.850 07-06-27 3,875,000 4,009,463
Myriad International Holdings BV (B) 5.500 07-21-25 15,235,000 16,546,734
National CineMedia LLC 6.000 04-15-22 4,186,000 4,238,325
Sinclair Television Group, Inc. (B) 5.625 08-01-24 6,970,000 7,161,675
Sirius XM Radio, Inc. (B) 3.875 08-01-22 3,780,000 3,809,106
Sirius XM Radio, Inc. (B) 5.000 08-01-27 8,472,000 8,567,310
Sirius XM Radio, Inc. (B) 5.375 04-15-25 9,070,000 9,537,559
Sirius XM Radio, Inc. (B) 5.375 07-15-26 11,600,000 12,151,000
Time Warner Cable LLC 8.250 04-01-19 8,430,000 9,065,188
Time Warner, Inc. 3.800 02-15-27 13,465,000 13,423,537
Viacom, Inc. 4.375 03-15-43 9,200,000 7,685,142
Viacom, Inc. 5.850 09-01-43 14,236,000 14,246,735
Viacom, Inc. (6.250% to 2-28-27, then 3
month LIBOR + 3.899%) 6.250 02-28-57 9,758,000 9,514,050
WMG Acquisition Corp. (B) 4.875 11-01-24 5,456,000 5,646,960
WMG Acquisition Corp. (B) 6.750 04-15-22 8,437,000 8,832,442
Multiline retail 0.1%
Macy’s Retail Holdings, Inc. 3.625 06-01-24 15,870,000 14,619,354
Specialty retail 0.1%
L Brands, Inc. 6.625 04-01-21 9,225,000 10,148,515
L Brands, Inc. 6.875 11-01-35 5,118,000 5,169,180
Consumer staples 1.3% 144,236,824
Beverages 0.5%
Anheuser-Busch InBev Finance, Inc. 4.900 02-01-46 32,285,000 36,382,922
Molson Coors Brewing Company 1.450 07-15-19 12,995,000 12,847,528
Molson Coors Brewing Company 3.000 07-15-26 9,826,000 9,530,379

SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       17



   Rate (%)    Maturity date    Par value^    Value
Consumer staples (continued)
Food and staples retailing 0.2%
Alimentation Couche-Tard, Inc. (B) 2.700 07-26-22 8,695,000 $8,594,469
CVS Health Corp. 2.875 06-01-26 11,960,000 11,325,402
Simmons Foods, Inc. (B) 5.750 11-01-24 4,945,000 4,906,429
Food products 0.3%
Bunge, Ltd. Finance Corp. 8.500 06-15-19 6,016,000 6,555,778
Kraft Heinz Foods Company (B) 4.875 02-15-25 8,702,000 9,250,557
Kraft Heinz Foods Company 5.200 07-15-45 6,280,000 6,795,026
Mondelez International Holdings
Netherlands BV (B) 1.625 10-28-19 11,410,000 11,254,501
Post Holdings, Inc. (B) 5.625 01-15-28 2,645,000 2,664,838
Household products 0.1%
Kronos Acquisition Holdings, Inc. (B) 9.000 08-15-23 9,085,000 8,539,900
Personal products 0.1%
Revlon Consumer Products Corp. 5.750 02-15-21 6,992,000 5,576,120
Revlon Consumer Products Corp. 6.250 08-01-24 8,555,000 5,175,775
Tobacco 0.1%
Vector Group, Ltd. (B) 6.125 02-01-25 4,640,000 4,837,200
Energy 4.9% 555,074,138
Energy equipment and services 0.1%
Antero Midstream Partners LP 5.375 09-15-24 10,787,000 11,137,578
Oil, gas and consumable fuels 4.8%
Andeavor Logistics LP 4.250 12-01-27 6,728,000 6,716,136
Andeavor Logistics LP 5.250 01-15-25 4,197,000 4,427,835
Andeavor Logistics LP 6.125 10-15-21 12,235,000 12,609,758
Andeavor Logistics LP 6.375 05-01-24 10,614,000 11,558,646
Boardwalk Pipelines LP 4.450 07-15-27 7,492,000 7,625,640
Cenovus Energy, Inc. 4.450 09-15-42 15,029,000 13,626,691
Cheniere Corpus Christi Holdings LLC (B) 5.125 06-30-27 4,925,000 5,091,219
Cheniere Corpus Christi Holdings LLC 5.875 03-31-25 6,605,000 7,158,169
Cimarex Energy Company 4.375 06-01-24 7,374,000 7,810,143
Colorado Interstate Gas
Company LLC (B) 4.150 08-15-26 7,955,000 7,949,128
Columbia Pipeline Group, Inc. 4.500 06-01-25 17,995,000 19,126,733
Continental Resources, Inc. 5.000 09-15-22 20,320,000 20,701,000
DCP Midstream Operating LP 2.700 04-01-19 10,889,000 10,820,944
DCP Midstream Operating LP (5.850%
to 5-21-23, then 3 month LIBOR +
3.850%) (B) 5.850 05-21-43 10,855,000 10,095,150
DCP Midstream Operating LP (B) 9.750 03-15-19 6,950,000 7,540,750
Enbridge Energy Partners LP 4.375 10-15-20 14,902,000 15,545,246
Enbridge Energy Partners LP (3 month
LIBOR + 3.798%) (A) 5.133 10-01-77 9,783,000 9,685,170
Energy Transfer Equity LP 5.875 01-15-24 7,500,000 8,025,000
Energy Transfer LP 4.200 04-15-27 4,462,000 4,455,600

SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       18



   Rate (%)    Maturity date    Par value^    Value
Energy (continued)
Oil, gas and consumable fuels (continued)
Energy Transfer LP 5.000 10-01-22 1,834,000 $1,963,153
Energy Transfer LP 5.150 03-15-45 12,120,000 11,586,454
Energy Transfer LP 5.875 03-01-22 1,250,000 1,368,201
Energy Transfer LP 9.700 03-15-19 4,468,000 4,855,995
EnLink Midstream Partners LP 4.850 07-15-26 12,953,000 13,523,549
Enterprise Products Operating LLC (3
month LIBOR + 3.708%) (A) 5.084 08-01-66 12,865,000 12,865,000
Enterprise Products Operating LLC
(5.250% to 8-16-27, then 3 month
LIBOR + 3.033%) 5.250 08-16-77 19,325,000 19,335,242
Gulfport Energy Corp. 6.000 10-15-24 2,040,000 2,047,650
KCA Deutag UK Finance PLC (B) 9.875 04-01-22 1,455,000 1,531,388
Kinder Morgan Energy Partners LP 7.750 03-15-32 7,890,000 9,884,020
Lukoil International Finance BV (B) 3.416 04-24-18 7,360,000 7,384,406
Murphy Oil Corp. 5.750 08-15-25 5,895,000 6,086,588
Newfield Exploration Company 5.625 07-01-24 5,072,000 5,477,760
Newfield Exploration Company 5.750 01-30-22 3,895,000 4,162,781
ONEOK Partners LP 5.000 09-15-23 5,423,000 5,818,090
Petrobras Global Finance BV 5.625 05-20-43 18,598,000 16,668,458
Petrobras Global Finance BV 7.375 01-17-27 19,303,000 21,271,906
Petroleos Mexicanos 4.875 01-24-22 12,393,000 12,956,758
Petroleos Mexicanos (B) 5.375 03-13-22 3,420,000 3,655,980
Plains All American Pipeline LP (6.125%
to 11-15-22, then 3 month LIBOR +
4.110%) (E) 6.125 11-15-22 8,975,000 8,874,031
Sabine Pass Liquefaction LLC 4.200 03-15-28 10,090,000 10,162,410
Sabine Pass Liquefaction LLC 5.000 03-15-27 9,596,000 10,220,642
Sabine Pass Liquefaction LLC 5.750 05-15-24 17,050,000 18,913,475
Sunoco Logistics Partners Operations LP 3.900 07-15-26 16,794,000 16,468,682
Sunoco Logistics Partners Operations LP 4.400 04-01-21 11,329,000 11,849,047
Tallgrass Energy Partners LP (B) 5.500 09-15-24 5,985,000 6,209,438
Tapstone Energy LLC (B) 9.750 06-01-22 3,710,000 3,283,350
Teekay Offshore Partners LP 6.000 07-30-19 11,613,000 11,554,935
The Williams Companies, Inc. 4.550 06-24-24 18,600,000 19,274,250
The Williams Companies, Inc. 5.750 06-24-44 11,435,000 12,049,631
Williams Partners LP 3.750 06-15-27 12,535,000 12,436,941
Williams Partners LP 4.875 03-15-24 20,753,000 21,608,231
WPX Energy, Inc. 5.250 09-15-24 3,760,000 3,694,200
WPX Energy, Inc. 6.000 01-15-22 7,625,000 7,853,750
YPF SA (B) 8.500 07-28-25 14,090,000 16,471,210
Financials 13.8% 1,570,657,798
Banks 7.7%
Australia & New Zealand Banking
Group, Ltd. 2.125 08-19-20 17,735,000 17,613,249

SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       19



   Rate (%)    Maturity date    Par value^    Value
Financials (continued)
Banks (continued)
Australia & New Zealand Banking
Group, Ltd. (6.750% to 6-15-26, then
5 Year U.S. ISDAFIX + 5.168%) (B)(E) 6.750 06-15-26 8,790,000 $10,009,613
Bank of America Corp. 3.950 04-21-25 15,946,000 16,393,158
Bank of America Corp. 4.200 08-26-24 6,327,000 6,644,206
Bank of America Corp. 4.250 10-22-26 12,091,000 12,685,263
Bank of America Corp. 4.450 03-03-26 20,583,000 21,848,149
Bank of America Corp. (6.300% to
3-10-26, then 3 month LIBOR +
4.553%) (E) 6.300 03-10-26 21,910,000 24,986,164
BankUnited, Inc. 4.875 11-17-25 1,595,000 1,698,024
Banque Federative du Credit Mutuel
SA (B) 2.200 07-20-20 16,950,000 16,858,231
Barclays Bank PLC (B) 10.179 06-12-21 6,780,000 8,293,215
Barclays PLC 4.375 01-12-26 10,590,000 11,003,518
BPCE SA (B) 4.500 03-15-25 14,390,000 14,990,511
BPCE SA (B) 5.700 10-22-23 14,625,000 16,220,705
Citigroup, Inc. 2.350 08-02-21 17,590,000 17,400,478
Citigroup, Inc. 4.600 03-09-26 17,385,000 18,453,876
Citigroup, Inc. (5.875% to 3-27-20, then
3 month LIBOR + 4.059%) (E) 5.875 03-27-20 23,515,000 24,631,963
Citigroup, Inc. (6.250% to 8-15-26, then
3 month LIBOR + 4.517%) (E) 6.250 08-15-26 18,095,000 20,246,134
Citizens Bank NA 2.200 05-26-20 16,310,000 16,211,949
Commerzbank AG (B) 8.125 09-19-23 11,495,000 13,849,878
Cooperatieve Rabobank UA (11.000%
to 6-30-19, then 3 month LIBOR +
10.868%) (B)(E) 11.000 06-30-19 9,524,000 10,714,500
Credit Agricole SA (7.875% to 1-23-24,
then 5 Year U.S. Swap Rate +
4.898%) (B)(E) 7.875 01-23-24 10,770,000 12,213,503
Credit Agricole SA (8.125% to 9-19-18,
then 5 Year U.S. Swap Rate +
6.283%) (B) 8.125 09-19-33 10,680,000 11,133,900
Fifth Third Bancorp (5.100% to 6-30-23,
then 3 month LIBOR + 3.033%) (E) 5.100 06-30-23 11,664,000 11,868,120
Freedom Mortgage Corp. (B) 8.125 11-15-24 8,345,000 8,678,800
HBOS PLC (B) 6.750 05-21-18 12,520,000 12,788,402
HSBC Holdings PLC (6.375% to
9-17-24, then 5 Year U.S. ISDAFIX +
3.705%) (E) 6.375 09-17-24 5,770,000 6,191,210
HSBC Holdings PLC (6.875% to 6-1-21,
then 5 Year U.S. ISDAFIX +
5.514%) (E) 6.875 06-01-21 14,155,000 15,322,788
ING Bank NV (B) 5.800 09-25-23 12,399,000 14,002,741
ING Groep NV (6.500% to 4-16-25,
then 5 Year U.S. Swap Rate +
4.446%) (E) 6.500 04-16-25 6,080,000 6,618,080
JPMorgan Chase & Co. 3.200 06-15-26 14,987,000 14,891,390

SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       20



   Rate (%)    Maturity date    Par value^    Value
Financials (continued)
Banks (continued)
JPMorgan Chase & Co. 4.625 05-10-21 19,999,000 $21,361,583
JPMorgan Chase & Co. (5.300% to
5-1-20, then 3 month LIBOR +
3.800%) (E) 5.300 05-01-20 15,183,000 15,828,278
JPMorgan Chase & Co. (6.750% to
2-1-24, then 3 month LIBOR +
3.780%) (E) 6.750 02-01-24 17,198,000 19,666,945
Lloyds Banking Group PLC 4.650 03-24-26 28,420,000 29,961,038
Lloyds Banking Group PLC (7.500% to
6-27-24, then 5 Year U.S. Swap Rate
+ 4.760%) (E) 7.500 06-27-24 12,925,000 14,637,563
M&T Bank Corp. (5.125% to 11-1-26,
then 3 month LIBOR + 3.520%) (E) 5.125 11-01-26 9,257,000 9,835,563
Manufacturers & Traders Trust Company
(3 month LIBOR + 0.640%) (A) 1.956 12-01-21 7,480,000 7,423,129
PNC Bank NA 2.450 07-28-22 21,130,000 20,979,862
Popular, Inc. 7.000 07-01-19 9,055,000 9,281,375
Regions Financial Corp. 2.750 08-14-22 20,875,000 20,769,536
Santander Holdings USA, Inc. 2.700 05-24-19 7,938,000 7,967,840
Santander Holdings USA, Inc. (B) 3.700 03-28-22 15,110,000 15,354,074
Santander UK Group Holdings PLC (B) 4.750 09-15-25 11,895,000 12,443,490
Societe Generale SA (7.375% to
9-13-21, then 5 Year U.S. Swap Rate
+ 6.238%) (B)(E) 7.375 09-13-21 13,725,000 14,874,469
Societe Generale SA (8.000% to
9-29-25, then 5 Year U.S. ISDAFIX +
5.873%) (B)(E) 8.000 09-29-25 12,350,000 14,403,188
Societe Generale SA (8.250% to
11-29-18, then 5 Year U.S. Swap Rate
+ 6.394%) (E) 8.250 11-29-18 9,440,000 9,913,397
Standard Chartered PLC (B) 2.100 08-19-19 17,260,000 17,160,463
Sumitomo Mitsui Trust Bank, Ltd. (B) 2.050 03-06-19 20,240,000 20,199,065
SunTrust Bank 2.450 08-01-22 16,820,000 16,651,197
The PNC Financial Services Group, Inc.
(4.850% to 6-1-23, then 3 month
LIBOR + 3.040%) (E) 4.850 06-01-23 10,034,000 10,335,020
The PNC Financial Services Group, Inc.
(6.750% to 8-1-21, then 3 month
LIBOR + 3.678%) (E) 6.750 08-01-21 9,583,000 10,680,254
The Royal Bank of Scotland Group PLC 3.875 09-12-23 19,400,000 19,718,072
The Royal Bank of Scotland Group PLC
(8.000% to 8-10-25, then 5 Year
U.S. Swap Rate + 5.720%) (E) 8.000 08-10-25 10,630,000 12,092,475
The Royal Bank of Scotland Group PLC
(8.625% to 8-15-21, then 5 Year
U.S. Swap Rate + 7.598%) (E) 8.625 08-15-21 8,450,000 9,527,375
US Bank NA 2.000 01-24-20 15,570,000 15,515,289
Wells Fargo & Company, Series K
(7.980% to 3-15-18, then 3 month
LIBOR + 3.770%) (E) 7.980 03-15-18 11,687,000 11,869,317

SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       21



   Rate (%)    Maturity date    Par value^    Value
Financials (continued)
Banks (continued)
Wells Fargo & Company, Series MTN 4.650 11-04-44 9,825,000 $10,528,214
Wells Fargo & Company, Series U
(5.875% to 6-15-25, then 3 month
LIBOR + 3.990%) (E) 5.875 06-15-25 31,336,000 34,782,960
Westpac Banking Corp. 2.150 03-06-20 24,628,000 24,586,616
Capital markets 2.0%
Ares Capital Corp. 3.875 01-15-20 7,325,000 7,462,903
Credit Suisse Group AG (7.500% to
12-11-23, then 5 Year U.S. Swap Rate
+ 4.598%) (B)(E) 7.500 12-11-23 8,155,000 9,347,016
FS Investment Corp. 4.000 07-15-19 6,870,000 6,967,266
FS Investment Corp. 4.250 01-15-20 6,905,000 7,032,576
Jefferies Group LLC 4.850 01-15-27 15,250,000 16,053,171
Jefferies Group LLC 8.500 07-15-19 4,720,000 5,162,455
Macquarie Bank, Ltd. (B) 4.875 06-10-25 14,265,000 15,060,164
Morgan Stanley 3.875 01-27-26 11,403,000 11,814,941
Morgan Stanley 5.500 01-26-20 13,922,000 14,804,780
Morgan Stanley 7.300 05-13-19 19,611,000 20,997,516
Stifel Financial Corp. 4.250 07-18-24 13,425,000 13,774,464
The Goldman Sachs Group, Inc. 2.000 04-25-19 9,594,000 9,564,946
The Goldman Sachs Group, Inc. 2.300 12-13-19 26,988,000 26,948,686
The Goldman Sachs Group, Inc. 3.850 01-26-27 24,480,000 24,983,471
UBS AG (B) 2.450 12-01-20 22,420,000 22,395,966
UBS Group Funding Switzerland AG
(2.859% to 8-15-22, then 3 month
LIBOR + 0.954%) (B) 2.859 08-15-23 20,715,000 20,506,206
Consumer finance 1.5%
Ally Financial, Inc. 3.250 11-05-18 8,410,000 8,453,732
Ally Financial, Inc. 5.125 09-30-24 20,968,000 22,855,120
American Express Company 2.500 08-01-22 18,970,000 18,718,669
Capital One Financial Corp. 2.400 10-30-20 8,895,000 8,851,627
Capital One Financial Corp. 2.450 04-24-19 10,065,000 10,091,704
Capital One Financial Corp. 3.750 07-28-26 22,858,000 22,647,511
Capital One Financial Corp. 4.200 10-29-25 15,419,000 15,778,225
Credit Acceptance Corp. 6.125 02-15-21 9,659,000 9,791,811
Credito Real SAB de CV (B) 7.250 07-20-23 5,700,000 6,013,500
Credito Real SAB de CV (9.125% to
11-29-22, then 10 Year CMT +
7.026%) (B)(E) 9.125 11-29-22 9,270,000 9,548,100
Discover Financial Services 3.950 11-06-24 18,348,000 18,795,632
Discover Financial Services 4.100 02-09-27 6,700,000 6,832,487
Discover Financial Services 5.200 04-27-22 2,350,000 2,541,001
Enova International, Inc. 9.750 06-01-21 7,520,000 7,971,200
Diversified financial services 0.5%
ASP AMC Merger Sub, Inc. (B) 8.000 05-15-25 9,996,000 9,771,090

SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       22



   Rate (%)    Maturity date    Par value^    Value
Financials (continued)
Diversified financial services (continued)
Doric Nimrod Air Alpha 2013-1 Class B
Pass Through Trust (B) 6.125 11-30-21 998,824 $1,030,087
Exela Intermediate LLC (B) 10.000 07-15-23 4,955,000 4,651,506
Leucadia National Corp. 5.500 10-18-23 13,246,000 14,146,815
NewStar Financial, Inc. 7.250 05-01-20 9,060,000 9,399,750
Trident Merger Sub, Inc. (B) 6.625 11-01-25 3,432,000 3,419,130
Voya Financial, Inc. (5.650% to 5-15-23,
then 3 month LIBOR + 3.580%) 5.650 05-15-53 13,317,000 14,062,752
Insurance 1.6%
Aquarius & Investments PLC (6.375% to
9-1-19, then 5 Year U.S. Swap Rate +
5.210%) 6.375 09-01-24 12,250,000 12,913,460
AXA SA (6.379% to 12-14-36, then 3
month LIBOR + 2.256%) (B)(E) 6.379 12-14-36 2,930,000 3,398,800
AXA SA 8.600 12-15-30 6,874,000 9,898,560
Brighthouse Financial, Inc. (B) 3.700 06-22-27 21,345,000 20,746,775
CNO Financial Group, Inc. 5.250 05-30-25 13,153,000 13,942,180
Liberty Mutual Group, Inc. (7.800% to
3-15-37, then 3 month LIBOR
+3.576%) (B) 7.800 03-07-87 16,926,000 21,496,020
MetLife, Inc. 6.400 12-15-66 9,858,000 11,361,345
MetLife, Inc. (B) 9.250 04-08-38 5,470,000 8,095,600
Nippon Life Insurance Company
(5.100% to 10-16-24, then 5 Year
U.S. ISDAFIX + 3.650%) (B) 5.100 10-16-44 11,795,000 12,528,649
Prudential Financial, Inc. (5.875% to
9-15-22, then 3 month LIBOR +
4.175%) 5.875 09-15-42 25,578,000 28,040,394
Teachers Insurance & Annuity
Association of America (B) 4.270 05-15-47 15,725,000 16,262,976
The Hartford Financial Services Group,
Inc. (8.125% to 6-15-18, then 3
month LIBOR + 4.603%) 8.125 06-15-68 20,224,000 20,780,160
Thrifts and mortgage finance 0.5%
Flagstar Bancorp, Inc. 6.125 07-15-21 6,440,000 6,865,136
Ladder Capital Finance Holdings LLLP (B) 5.250 03-15-22 2,850,000 2,942,625
Ladder Capital Finance Holdings LLLP (B) 5.250 10-01-25 5,810,000 5,795,475
MGIC Investment Corp. 5.750 08-15-23 2,676,000 2,923,530
Nationstar Mortgage LLC 6.500 07-01-21 7,564,000 7,658,550
Nationstar Mortgage LLC 7.875 10-01-20 5,833,000 5,955,493
Quicken Loans, Inc. (B) 5.750 05-01-25 13,820,000 14,528,275
Radian Group, Inc. 5.250 06-15-20 4,391,000 4,632,505
Radian Group, Inc. 7.000 03-15-21 5,591,000 6,282,886
Stearns Holdings LLC (B) 9.375 08-15-20 2,450,000 2,551,063

SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       23



   Rate (%)    Maturity date    Par value^    Value
Health care 2.5% $287,503,107
Biotechnology 0.5%
AbbVie, Inc. 3.600 05-14-25 15,283,000 15,613,173
Shire Acquisitions Investments Ireland
DAC 1.900 09-23-19 21,570,000 21,362,497
Shire Acquisitions Investments Ireland
DAC 3.200 09-23-26 23,720,000 22,788,404
Health care equipment and supplies 0.2%
Becton, Dickinson and Company 2.133 06-06-19 15,810,000 15,759,893
Zimmer Biomet Holdings, Inc. 3.550 04-01-25 8,858,000 8,858,426
Health care providers and services 1.3%
Cardinal Health, Inc. 1.948 06-14-19 13,785,000 13,711,158
Community Health Systems, Inc. 5.125 08-01-21 11,009,000 10,293,415
Community Health Systems, Inc. 8.000 11-15-19 8,576,000 7,686,240
DaVita, Inc. 5.000 05-01-25 11,776,000 11,790,720
Express Scripts Holding Company 2.600 11-30-20 21,450,000 21,450,674
HCA, Inc. 5.250 04-15-25 11,324,000 12,060,060
HCA, Inc. 5.250 06-15-26 10,413,000 11,037,780
HCA, Inc. 7.500 02-15-22 8,940,000 10,092,366
MEDNAX, Inc. (B) 5.250 12-01-23 11,971,000 12,270,275
Select Medical Corp. 6.375 06-01-21 11,653,000 11,958,891
Team Health Holdings, Inc. (B) 6.375 02-01-25 2,697,000 2,440,785
Universal Health Services, Inc. (B) 4.750 08-01-22 9,675,000 9,916,875
Universal Health Services, Inc. (B) 5.000 06-01-26 11,076,000 11,546,730
Life sciences tools and services 0.1%
Quintiles IMS, Inc. (B) 4.875 05-15-23 6,245,000 6,463,575
Pharmaceuticals 0.4%
Allergan Funding SCS 3.800 03-15-25 13,845,000 13,933,423
Mylan NV 2.500 06-07-19 8,513,000 8,506,505
Mylan NV 3.950 06-15-26 16,336,000 16,286,379
Valeant Pharmaceuticals International,
Inc. (B) 6.125 04-15-25 13,615,000 11,674,863
Industrials 4.3% 485,144,493
Aerospace and defense 0.4%
Huntington Ingalls Industries, Inc. (B) 5.000 12-15-21 10,440,000 10,711,440
Huntington Ingalls Industries, Inc. (B) 5.000 11-15-25 7,575,000 8,152,594
Kratos Defense & Security Solutions,
Inc. (B) 6.500 11-30-25 8,875,000 9,119,063
Lockheed Martin Corp. 4.700 05-15-46 11,743,000 13,345,930
Textron, Inc. 7.250 10-01-19 2,950,000 3,201,310
Air freight and logistics 0.1%
XPO Logistics, Inc. (B) 6.500 06-15-22 11,464,000 11,979,880
Airlines 1.6%
Air Canada 2013-1 Class C Pass Through
Trust (B) 6.625 05-15-18 6,110,000 6,209,288

SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       24



   Rate (%)    Maturity date    Par value^    Value
Industrials (continued)
Airlines (continued)
America West Airlines 2000-1 Pass
Through Trust 8.057 01-02-22 482,857 $543,214
American Airlines 2001-1 Class A-1 Pass
Through Trust 6.977 11-23-22 4,530,142 4,779,300
American Airlines 2011-1 Class B Pass
Through Trust (B) 7.000 07-31-19 6,922,655 6,995,342
American Airlines 2013-2 Class A Pass
Through Trust 4.950 07-15-24 12,401,157 13,176,229
American Airlines 2015-1 Class B Pass
Through Trust 3.700 11-01-24 6,572,343 6,588,774
American Airlines 2016-1 Class A Pass
Through Trust 4.100 07-15-29 4,099,996 4,292,183
American Airlines 2017-1 Class A Pass
Through Trust 4.000 08-15-30 7,420,000 7,759,836
American Airlines 2017-1 Class AA Pass
Through Trust 3.650 02-15-29 11,515,000 11,932,188
American Airlines 2017-2 Class A Pass
Through Trust 3.600 04-15-31 6,355,000 6,475,745
Azul Investments LLP (B) 5.875 10-26-24 11,560,000 11,502,200
British Airways 2013-1 Class A Pass
Through Trust (B) 4.625 06-20-24 11,083,518 11,803,947
British Airways 2013-1 Class B Pass
Through Trust (B) 5.625 12-20-21 2,110,957 2,189,907
Continental Airlines 1997-4 Class A Pass
Through Trust 6.900 07-02-19 150,897 151,079
Continental Airlines 1999-1 Class A Pass
Through Trust 6.545 08-02-20 711,875 736,791
Continental Airlines 2000-2 Class B Pass
Through Trust 8.307 10-02-19 80,771 82,387
Continental Airlines 2007-1 Class A Pass
Through Trust 5.983 10-19-23 6,265,608 6,875,252
Continental Airlines 2012-1 Class B Pass
Through Trust 6.250 10-11-21 1,177,571 1,240,218
Delta Air Lines 2002-1 Class G-1 Pass
Through Trust 6.718 07-02-24 5,135,576 5,713,329
Delta Air Lines 2010-1 Class A Pass
Through Trust 6.200 01-02-20 2,728,058 2,793,531
Delta Air Lines 2011-1 Class A Pass
Through Trust 5.300 10-15-20 838,994 871,313
Delta Air Lines, Inc. 3.625 03-15-22 18,290,000 18,660,679
Northwest Airlines 2007-1 Class A Pass
Through Trust 7.027 05-01-21 3,190,453 3,445,689
United Airlines 2014-2 Class A Pass
Through Trust 3.750 03-03-28 15,286,434 15,706,811
United Airlines 2014-2 Class B Pass
Through Trust 4.625 03-03-24 6,039,018 6,252,196
United Airlines 2016-1 Class A Pass
Through Trust 3.450 01-07-30 10,724,000 10,911,670
United Airlines 2016-1 Class B Pass
Through Trust 3.650 07-07-27 6,095,000 6,057,211

SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       25



   Rate (%)    Maturity date    Par value^    Value
Industrials (continued)
Airlines (continued)
US Airways 2010-1 Class A Pass Through
Trust 6.250 10-22-24 3,992,919 $4,449,309
US Airways 2012-1 Class A Pass Through
Trust 5.900 04-01-26 4,499,248 5,050,406
Building products 0.3%
Builders FirstSource, Inc. (B) 10.750 08-15-23 4,355,000 4,910,263
Masco Corp. 4.375 04-01-26 10,022,000 10,567,197
Masco Corp. 4.450 04-01-25 6,570,000 6,965,514
Owens Corning 4.200 12-15-22 8,508,000 8,927,580
Commercial services and supplies 0.2%
LSC Communications, Inc. (B) 8.750 10-15-23 11,118,000 11,423,745
Prime Security Services Borrower LLC (B) 9.250 05-15-23 7,030,000 7,759,363
Tervita Escrow Corp. (B) 7.625 12-01-21 1,415,000 1,432,688
Construction and engineering 0.2%
AECOM 5.125 03-15-27 16,240,000 16,553,432
Tutor Perini Corp. (B) 6.875 05-01-25 2,682,000 2,850,698
Electrical equipment 0.0%
EnerSys (B) 5.000 04-30-23 4,723,000 4,965,054
Industrial conglomerates 0.0%
General Electric Company (3 month
LIBOR + 0.480%) (A) 1.896 08-15-36 4,270,000 3,772,197
Machinery 0.0%
Neovia Logistics Services LLC (B) 8.875 08-01-20 2,830,000 2,348,900
Professional services 0.4%
Equifax, Inc. 3.250 06-01-26 3,750,000 3,536,366
Equifax, Inc. 7.000 07-01-37 3,045,000 3,741,202
IHS Markit, Ltd. (B) 4.000 03-01-26 5,450,000 5,511,313
IHS Markit, Ltd. (B) 4.750 02-15-25 3,267,000 3,460,733
IHS Markit, Ltd. (B) 5.000 11-01-22 4,986,000 5,310,090
Verisk Analytics, Inc. 4.000 06-15-25 20,295,000 21,052,500
Trading companies and distributors 1.1%
AerCap Global Aviation Trust (6.500% to
6-15-25, then 3 month LIBOR +
4.300%) (B) 6.500 06-15-45 9,410,000 10,256,900
AerCap Ireland Capital DAC 4.625 10-30-20 14,020,000 14,745,539
AerCap Ireland Capital DAC 5.000 10-01-21 13,885,000 14,848,212
Ahern Rentals, Inc. (B) 7.375 05-15-23 15,413,000 14,584,551
Air Lease Corp. 3.375 01-15-19 4,099,000 4,147,057
Aircastle, Ltd. 5.500 02-15-22 8,752,000 9,419,340
Aircastle, Ltd. 6.250 12-01-19 3,625,000 3,856,094
Aircastle, Ltd. 7.625 04-15-20 1,950,000 2,140,125
H&E Equipment Services, Inc. (B) 5.625 09-01-25 5,370,000 5,625,075
International Lease Finance Corp. 5.875 04-01-19 5,390,000 5,629,575
International Lease Finance Corp. (B) 7.125 09-01-18 4,790,000 4,963,286

SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       26



Rate (%) Maturity date Par value^ Value
Industrials (continued)        
Trading companies and distributors (continued)
United Rentals North America, Inc. 4.875 01-15-28 12,690,000 $12,832,763
United Rentals North America, Inc. 5.500 07-15-25 11,040,000 11,743,800
United Rentals North America, Inc. 5.750 11-15-24 5,220,000 5,507,100
Information technology 3.5% 398,297,162
Communications equipment 0.2%
Nokia OYJ 4.375 06-12-27 5,445,000 5,401,440
Telefonaktiebolaget LM Ericsson 4.125 05-15-22 21,585,000 21,757,973
Electronic equipment, instruments and components 0.6%
CDW LLC 5.000 09-01-25 1,242,000 1,297,890
Ingram Micro, Inc. 5.450 12-15-24 14,099,000 14,298,083
Jabil, Inc. 4.700 09-15-22 19,701,000 20,646,648
Keysight Technologies, Inc. 4.600 04-06-27 9,955,000 10,572,937
Tech Data Corp. 4.950 02-15-27 21,698,000 22,736,816
Zebra Technologies Corp. 7.250 10-15-22 1,579,000 1,665,056
Internet software and services 0.3%
eBay, Inc. 2.150 06-05-20 9,665,000 9,602,958
Match Group, Inc. (B) 5.000 12-15-27 2,900,000 2,921,750
Match Group, Inc. 6.375 06-01-24 9,080,000 9,795,050
VeriSign, Inc. 4.750 07-15-27 5,304,000 5,469,750
VeriSign, Inc. 5.250 04-01-25 6,750,000 7,349,063
IT services 0.1%
Sixsigma Networks Mexico SA de CV (B) 8.250 11-07-21 5,080,000 5,359,400
Semiconductors and semiconductor equipment 0.2%
NXP BV (B) 4.625 06-01-23 20,560,000 21,719,790
Software 1.4%
Activision Blizzard, Inc. 3.400 09-15-26 15,060,000 15,136,154
Activision Blizzard, Inc. (B) 6.125 09-15-23 14,300,000 15,099,648
Autodesk, Inc. 3.500 06-15-27 16,335,000 16,173,137
CA, Inc. 3.600 08-15-22 13,715,000 13,861,114
CA, Inc. 4.700 03-15-27 10,913,000 11,360,545
Citrix Systems, Inc. 4.500 12-01-27 17,521,000 17,698,795
Electronic Arts, Inc. 4.800 03-01-26 20,397,000 22,384,225
j2 Cloud Services LLC (B) 6.000 07-15-25 4,333,000 4,506,320
Microsoft Corp. 4.450 11-03-45 19,609,000 22,362,269
Open Text Corp. (B) 5.875 06-01-26 5,685,000 6,168,225
VMware, Inc. 2.950 08-21-22 12,160,000 12,088,934
Technology hardware, storage and peripherals 0.7%
Dell International LLC (B) 6.020 06-15-26 28,340,000 31,131,610
Dell International LLC (B) 7.125 06-15-24 4,080,000 4,426,915
Dell International LLC (B) 8.350 07-15-46 10,318,000 12,946,563
Hewlett Packard Enterprise Company (B) 2.100 10-04-19 17,848,000 17,724,108
NetApp, Inc. 2.000 09-27-19 14,745,000 14,633,996

SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       27



Rate (%) Maturity date Par value^   Value
Materials 1.8%         $204,233,093
Chemicals 0.9%
Braskem Finance, Ltd. (B) 7.000 05-07-20 9,835,000 10,695,563
Braskem Netherlands Finance BV (B) 4.500 01-10-28 13,320,000 13,256,730
Cydsa SAB de CV (B) 6.250 10-04-27 9,175,000 9,117,656
Mexichem SAB de CV (B) 4.000 10-04-27 7,150,000 7,114,250
NOVA Chemicals Corp. (B) 5.000 05-01-25 15,210,000 15,324,075
Platform Specialty Products Corp. (B) 6.500 02-01-22 16,379,000 16,931,791
Rain CII Carbon LLC (B) 8.250 01-15-21 4,187,000 4,302,143
The Chemours Company 6.625 05-15-23 17,181,000 18,168,908
The Sherwin-Williams Company 2.250 05-15-20 10,570,000 10,522,809
Construction materials 0.1%
Cemex SAB de CV (B) 6.125 05-05-25 12,190,000 12,921,400
U.S. Concrete, Inc. 6.375 06-01-24 4,130,000 4,429,425
Containers and packaging 0.1%
Ardagh Packaging Finance PLC (B) 6.000 02-15-25 5,795,000 6,157,767
Klabin Finance SA (B) 4.875 09-19-27 4,785,000 4,740,500
Metals and mining 0.6%
Anglo American Capital PLC (B) 4.750 04-10-27 10,725,000 11,140,781
Arconic, Inc. 5.125 10-01-24 14,478,000 15,400,973
Commercial Metals Company 5.375 07-15-27 3,005,000 3,072,613
First Quantum Minerals, Ltd. (B) 7.500 04-01-25 4,200,000 4,457,250
Novelis Corp. (B) 5.875 09-30-26 2,302,000 2,405,590
Vale Overseas, Ltd. 6.250 08-10-26 9,040,000 10,485,406
Vedanta Resources PLC (B) 6.125 08-09-24 8,140,000 8,329,312
Vedanta Resources PLC (B) 6.375 07-30-22 8,415,000 8,814,713
Paper and forest products 0.1%
Norbord, Inc. (B) 6.250 04-15-23 5,925,000 6,443,438
Real estate 1.4% 162,789,938
Equity real estate investment trusts 1.4%
American Tower Corp. 3.400 02-15-19 9,975,000 10,091,355
American Tower Corp. 3.550 07-15-27 20,880,000 20,681,436
American Tower Corp. 4.700 03-15-22 9,849,000 10,615,442
Crown Castle Towers LLC (B) 4.883 08-15-40 13,064,000 13,744,769
Crown Castle Towers LLC (B) 6.113 01-15-40 10,870,000 11,509,572
Equinix, Inc. 5.375 05-15-27 5,896,000 6,366,501
Iron Mountain, Inc. (B) 4.875 09-15-27 6,395,000 6,538,888
Iron Mountain, Inc. 5.750 08-15-24 14,217,000 14,554,654
Iron Mountain, Inc. 6.000 08-15-23 14,147,000 14,823,227
Omega Healthcare Investors, Inc. 4.500 01-15-25 7,740,000 7,707,297
Omega Healthcare Investors, Inc. 4.950 04-01-24 8,758,000 9,145,345
Omega Healthcare Investors, Inc. 5.250 01-15-26 5,414,000 5,644,636
Ventas Realty LP 3.500 02-01-25 17,542,000 17,662,011
VEREIT Operating Partnership LP 4.600 02-06-24 13,092,000 13,704,805

SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       28



Rate (%) Maturity date Par value^ Value
Telecommunication services 2.6%         $292,681,828
Diversified telecommunication services 1.9%
AT&T, Inc. 3.900 08-14-27 16,943,000 16,824,869
AT&T, Inc. 4.750 05-15-46 11,532,000 11,024,522
AT&T, Inc. 5.450 03-01-47 27,570,000 29,043,210
Cincinnati Bell, Inc. (B) 7.000 07-15-24 9,744,000 9,451,680
CSC Holdings LLC (B) 5.500 04-15-27 7,825,000 7,932,594
GCI, Inc. 6.875 04-15-25 8,133,000 8,722,643
Liquid Telecommunications Financing
PLC (B) 8.500 07-13-22 9,930,000 10,438,773
Radiate Holdco LLC (B) 6.625 02-15-25 9,365,000 8,966,988
Sprint Spectrum Company LLC (B) 3.360 03-20-23 10,155,000 10,234,209
Telecom Italia Capital SA 7.200 07-18-36 13,385,000 16,614,131
UPC Holding BV (B) 5.500 01-15-28 7,190,000 7,154,050
Verizon Communications, Inc. 4.400 11-01-34 10,484,000 10,532,960
Verizon Communications, Inc. 4.672 03-15-55 8,905,000 8,460,181
Verizon Communications, Inc. 4.862 08-21-46 28,164,000 28,740,955
Verizon Communications, Inc. 5.012 08-21-54 8,591,000 8,663,777
West Corp. (B) 8.500 10-15-25 4,950,000 4,820,063
Windstream Services LLC 7.750 10-15-20 9,029,000 7,810,085
Zayo Group LLC (B) 5.750 01-15-27 3,700,000 3,811,000
Wireless telecommunication services 0.7%
C&W Senior Financing Designated
Activity Company (B) 6.875 09-15-27 10,415,000 10,935,750
CC Holdings GS V LLC 3.849 04-15-23 10,471,000 10,816,330
Comunicaciones Celulares SA (B) 6.875 02-06-24 4,730,000 4,910,166
Digicel Group, Ltd. (B) 8.250 09-30-20 6,965,000 6,710,847
Digicel, Ltd. (B) 6.750 03-01-23 10,750,000 10,427,500
Millicom International Cellular SA (B) 5.125 01-15-28 3,500,000 3,455,900
MTN Mauritius Investment, Ltd. (B) 4.755 11-11-24 9,500,000 9,400,250
SBA Tower Trust (B) 3.598 04-09-43 5,435,000 5,436,151
Sprint Capital Corp. 6.875 11-15-28 11,175,000 11,468,344
T-Mobile USA, Inc. 6.125 01-15-22 9,540,000 9,873,900
Utilities 2.2% 256,992,849
Electric utilities 1.3%
Abengoa Transmision Sur SA (B) 6.875 04-30-43 9,549,457 10,516,340
Broadcom Corp. (B) 2.375 01-15-20 19,151,000 18,989,131
Broadcom Corp. (B) 3.875 01-15-27 21,826,000 21,408,905
Electricite de France SA (B) 3.625 10-13-25 8,860,000 9,056,837
Electricite de France SA (5.250% to
1-29-23, then 10 Year U.S. Swap Rate
+ 3.709%) (B)(E) 5.250 01-29-23 9,465,000 9,659,033
Emera US Finance LP 3.550 06-15-26 7,381,000 7,398,478
Empresa Electrica Angamos SA (B) 4.875 05-25-29 9,480,000 9,386,295
Israel Electric Corp., Ltd. (B) 5.625 06-21-18 8,070,000 8,215,260
Israel Electric Corp., Ltd. (B) 6.875 06-21-23 5,430,000 6,362,331

SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       29



Rate (%) Maturity date Par value^ Value
Utilities (continued)         
Electric utilities (continued)
Israel Electric Corp., Ltd. (B) 7.250 01-15-19 6,960,000 $7,309,489
NextEra Energy Capital Holdings, Inc. 2.300 04-01-19 6,656,000 6,659,184
NextEra Energy Capital Holdings, Inc. 3.550 05-01-27 17,450,000 17,796,232
Southern California Edison Company
(6.250% to 2-1-22, then 3 month
LIBOR + 4.199%) (E) 6.250 02-01-22 4,930,000 5,523,128
Southern Power Company 1.950 12-15-19 10,236,000 10,169,851
Gas utilities 0.1%
AmeriGas Partners LP 5.500 05-20-25 7,791,000 7,898,126
Independent power and renewable electricity producers 0.7%
Greenko Dutch BV (B) 4.875 07-24-22 11,745,000 11,923,994
Greenko Dutch BV (B) 5.250 07-24-24 5,935,000 6,018,090
IPALCO Enterprises, Inc. (B) 3.700 09-01-24 2,267,000 2,257,092
NextEra Energy Operating Partners LP (B) 4.500 09-15-27 4,300,000 4,310,750
NRG Energy, Inc. 6.250 05-01-24 19,623,000 20,800,380
NRG Energy, Inc. 6.625 01-15-27 13,445,000 14,486,988
NRG Yield Operating LLC 5.375 08-15-24 22,051,000 22,877,913
Multi-utilities 0.1%
CenterPoint Energy, Inc. 2.500 09-01-22 8,700,000 8,593,172
Dominion Energy, Inc. 2.579 07-01-20 9,370,000 9,375,850
Convertible bonds 0.1% $9,206,141
(Cost $9,125,697)
Utilities 0.1% 9,206,141
Independent power and renewable electricity producers 0.1%
NRG Yield, Inc. (B) 3.250 06-01-20 9,235,000 9,206,141
Capital preferred securities 0.1% $19,359,926
(Cost $17,165,931)
Financials 0.1% 19,359,926
Banks 0.0%
BAC Capital Trust XIV, Series G (Greater
of 3 month LIBOR + 0.400% or
4.000%) (A)(E) 4.000 12-18-17 8,562,000 7,759,313
Capital markets 0.1%
State Street Corp. (3 month LIBOR +
1.000%) (A) 2.320 06-01-77 12,713,000 11,600,613
Term loans (F) 0.1% $10,461,481
(Cost $10,418,632)
Financials 0.1% 4,729,187
Capital markets 0.1%
LSF9 Atlantis Holdings LLC (1 month
LIBOR + 6.000%) 7.242 05-01-23 4,720,313 4,729,187

SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       30



Rate (%) Maturity date Par value^ Value
Industrials 0.0%         $3,862,365
Aerospace and defense 0.0%
WP CPP Holdings LLC (1 and 3 month
LIBOR + 3.500%) 4.881 12-28-19 1,627,188 1,610,916
Airlines 0.0%                
Delta Air Lines, Inc. (1 month LIBOR +
2.500%) 3.764 10-18-18 2,243,306 2,251,449
Information technology 0.0% 1,869,929
Internet software and services 0.0%
Ancestry.com Operations, Inc. (3 month
LIBOR + 3.250%) 4.500 10-19-23 1,861,200 1,869,929
Collateralized mortgage obligations 8.2% $932,781,490
(Cost $929,168,583)
Commercial and residential 6.7% 766,971,658
American Home Mortgage Investment Trust
Series 2005-1, Class 1A1 (1 month
LIBOR + 0.440%) (A) 1.678 06-25-45 4,603,019 4,532,246
Series 2005-1, Class AHM (6 month
LIBOR + 2.000%) (A) 3.561 06-25-45 1,646,933 1,645,942
Americold LLC
Series 2010-ARTA, Class C (B) 6.811 01-14-29 2,150,000 2,358,250
Series 2010-ARTA, Class D (B) 7.443 01-14-29 9,682,000 10,651,688
AOA Mortgage Trust
Series 2015-1177, Class C (A)(B) 3.110 12-13-29 6,501,000 6,465,726
BAMLL Commercial Mortgage Securities Trust
Series 2013-DSNY, Class E (1 month
LIBOR + 2.600%) (A)(B) 3.839 09-15-26 3,650,000 3,652,092
Series 2015-200P, Class F (A)(B) 3.716 04-14-33 6,165,000 5,929,749
Banc of America Merrill Lynch
Commercial Mortgage, Inc.
Series 2005-5, Class XC IO (B) 0.090 10-10-45 3,398,831 7
BBCMS Trust
Series 2015-MSQ, Class D (A)(B) 4.123 09-15-32 7,060,000 7,021,262
Series 2015-SRCH, Class D (A)(B) 5.122 08-10-35 15,205,000 16,055,492
Bear Stearns Adjustable Rate Mortgage Trust
Series 2005-2, Class A1 (1 Year CMT
+ 2.450%) (A) 3.260 03-25-35 3,119,724 3,151,968
Series 2005-5, Class A2 (1 Year CMT
+ 2.150%) (A) 3.580 08-25-35 3,222,729 3,209,333
Bear Stearns ALT-A Trust
Series 2005-5, Class 1A4 (1 month
LIBOR + 0.560%) (A) 1.889 07-25-35 2,509,511 2,476,717
Series 2005-7, Class 11A1 (1 month
LIBOR + 0.540%) (A) 1.869 08-25-35 4,538,275 4,456,739
Bear Stearns Asset Backed Securities
Trust
Series 2004-AC5, Class A1 5.750 10-25-34 3,926,145 3,916,521
Bear Stearns Commercial Mortgage
Securities Trust
Series 2005-PWR8, Class X1 IO (B) 0.520 06-11-41 534,193 4,876

SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       31



Rate (%)    Maturity date    Par value^    Value
Commercial and residential (continued)
BHMS Mortgage Trust
Series 2014-ATLS, Class CFX (A)(B) 4.847 07-05-33 1,000,000 $1,006,371
Series 2014-ATLS, Class DFL (1 month
LIBOR + 3.000%) (A)(B) 4.243 07-05-33 7,830,000 7,898,619
BWAY Mortgage Trust
Series 2013-1515, Class F (A)(B) 4.058 03-10-33 9,196,000 9,019,795
Series 2013-1515, Class XB IO (B) 0.534 03-10-33 46,410,000 1,267,267
Series 2015-1740, Class D (A)(B) 3.787 01-10-35 5,400,000 5,307,097
Series 2015-1740, Class XA IO (B) 1.023 01-10-35 123,773,000 4,496,401
BXP Trust
Series 2017-GM, Class D (A)(B) 3.539 06-13-39 14,320,000 13,693,069
CD Commercial Mortgage Trust
Series 2017-CD3, Class C (A) 4.715 02-10-50 12,137,000 12,636,660
CGBAM Commercial Mortgage Trust
Series 2015-SMRT, Class F (A)(B) 3.912 04-10-28 4,975,000 4,923,003
CGDB Commercial Mortgage Trust
Series 2017-BIO, Class E (1 month
LIBOR + 2.500%) (A)(B) 3.750 05-15-30 2,110,000 2,113,792
CGDBB Commercial Mortgage Trust
Series 2017-BIOC, Class E (1 month
LIBOR + 2.150%) (A)(B) 3.400 07-15-28 9,920,000 9,919,980
CGGS Commercial Mortgage Trust
Series 2016-RNDA, Class DFX (B) 4.387 02-10-33 12,982,334 13,007,875
Citigroup Commercial Mortgage Trust
Series 2017-1500, Class E (1 month
LIBOR + 2.500%) (A)(B) 3.750 07-15-32 4,600,000 4,590,295
CLNS Trust
Series 2017-IKPR, Class C (1 month
LIBOR + 1.100%) (A)(B) 2.345 06-11-32 5,645,000 5,643,220
Cold Storage Trust
Series 2017-ICE3, Class D (1 month
LIBOR + 2.100%) (A)(B) 3.600 04-15-36 14,575,000 14,647,629
Commercial Mortgage Trust (Bank of
America Merrill Lynch/Deutsche Bank
AG)
Series 2013-WWP, Class A2 (B) 3.424 03-10-31 3,955,000 4,111,215
Commercial Mortgage Trust (Cantor Fitzgerald/Deutsche Bank AG)
Series 2012-CR2, Class XA IO 1.824 08-15-45 71,047,587 4,514,477
Series 2012-CR3 Class XA IO 1.883 10-15-45 100,731,284 7,584,693
Series 2013-CR6, Class XA IO 1.415 03-10-46 40,493,283 1,463,816
Series 2013-CR8, Class XA IO 0.739 06-10-46 42,082,533 810,194
Series 2014-CR15, Class C (A) 4.911 02-10-47 2,200,000 2,292,864
Series 2014-CR15, Class XA IO 1.417 02-10-47 94,838,403 3,679,483
Series 2014-CR16, Class C (A) 5.065 04-10-47 12,185,000 12,842,150
Series 2014-CR21, Class A2 3.095 12-10-47 3,000,000 3,044,036
Series 2015-CR27, Class B (A) 4.510 10-10-48 6,445,000 6,746,244
Commercial Mortgage Trust (Deutsche Bank AG)
Series 2012-LC4, Class B (A) 4.934 12-10-44 3,919,000 4,106,146
Series 2013-300P, Class D (A)(B) 4.540 08-10-30 17,960,000 18,747,693
Series 2013-300P, Class E (A)(B) 4.540 08-10-30 800,000 752,258
Series 2013-CR11, Class B (A) 5.327 08-10-50 13,560,000 14,623,274

SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       32



Rate (%)    Maturity date    Par value^    Value
Commercial and residential (continued)
Series 2013-CR13, Class C (A) 4.904 11-12-46 4,890,000 $5,087,172
Series 2013-LC13, Class B (A)(B) 5.009 08-10-46 5,820,000 6,288,208
Series 2014-FL4, Class D (1 month
LIBOR + 2.450%) (A)(B) 3.689 07-13-31 10,550,000 10,491,548
Series 2014-LC15, Class C (A) 5.109 04-10-47 1,300,000 1,342,896
Series 2014-TWC, Class D (1 month
LIBOR + 2.250%) (A)(B) 3.588 02-13-32 7,630,000 7,660,386
Commercial Mortgage Trust (Deutsche
Bank AG/Morgan Stanley)
Series 2014-PAT, Class D (1 month
LIBOR + 2.150%) (A)(B) 3.385 08-13-27 9,885,000 9,897,030
Core Industrial Trust
Series 2015-CALW, Class F (A)(B) 3.979 02-10-34 8,295,000 8,249,372
Credit Suisse First Boston Mortgage
Securities Corp.
Series 2005-C1, Class AX IO (B) 0.914 02-15-38 501,740 10
DBJPM Mortgage Trust
Series 2016-C3, Class C (A) 3.635 09-10-49 4,863,000 4,700,996
Series 2017-C6, Class C (A) 4.174 06-10-50 8,885,000 9,031,324
Deutsche Mortgage Securities, Inc.
Mortgage Loan Trust
Series 2004-4, Class 2AR1 (1 month
LIBOR + 0.540%) (A) 1.869 06-25-34 2,009,926 1,983,731
GAHR Commercial Mortgage Trust
Series 2015-NRF, Class BFX (A)(B) 3.495 12-15-34 2,250,000 2,277,689
Series 2015-NRF, Class DFX (A)(B) 3.495 12-15-34 13,055,000 13,133,468
Series 2015-NRF, Class EFX (A)(B) 3.495 12-15-34 7,560,000 7,524,516
GE Capital Commercial Mortgage Corp.
Series 2005-C1, Class XC IO (B) 0.010 06-10-48 77,220 0
GMAC Mortgage Loan Trust
Series 2004-AR2, Class 3A (A) 4.085 08-19-34 1,442,866 1,395,172
GS Mortgage Securities Trust
Series 2011-GC5, Class XA IO (B) 1.520 08-10-44 14,756,857 587,977
Series 2012-GC17, Class XA IO 2.419 05-10-45 103,455,813 6,531,134
Series 2013-GC10, Class C (A)(B) 4.285 02-10-46 1,140,200 1,154,067
Series 2014-NEW, Class C (B) 3.790 01-10-31 3,075,000 3,061,138
Series 2015-590M, Class C (A)(B) 3.932 10-10-35 6,950,000 6,941,844
Series 2016-RENT, Class D (A)(B) 4.202 02-10-29 12,595,000 12,766,137
Series 2017-485L, Class C (A)(B) 4.115 02-10-37 6,250,000 6,422,019
Series 2017-500K, Class F (1 month
LIBOR + 1.800%) (A)(B) 3.050 07-15-32 3,420,000 3,425,058
Series 2017-500K, Class G (1 month
LIBOR + 2.500%) (A)(B) 3.750 07-15-32 1,730,000 1,730,507
Series 2017-GS5, Class C (A) 4.299 03-10-50 5,125,000 5,190,731
Series 2017-GS6, Class C (A) 4.322 05-10-50 6,940,000 7,108,551
Series 2005-GG4, Class XC IO (B) 1.594 07-10-39 10,645 0
HarborView Mortgage Loan Trust
Series 2005-2, Class X IO 1.337 05-19-35 23,675,839 1,074,871
Series 2005-9, Class 2A1C (1 month
LIBOR + 0.450%) (A) 1.733 06-20-35 5,507,767 5,474,019

SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       33



Rate (%)    Maturity date    Par value^    Value
Commercial and residential (continued)
Series 2007-3, Class ES IO (B) 0.350 05-19-47 41,842,787 $646,764
Series 2007-4, Class ES IO 0.350 07-19-47 44,212,366 638,913
Series 2007-6, Class ES IO (B) 0.343 08-19-37 36,037,859 458,546
HILT Mortgage Trust
Series 2014-ORL, Class D (1 month
LIBOR + 2.150%) (A)(B) 3.400 07-15-29 7,325,000 7,336,271
Hilton USA Trust
Series 2016-HHV, Class D (A)(B) 4.333 11-05-38 6,630,000 6,540,531
Hudsons Bay Simon JV Trust
Series 2015-HBFL, Class DFL (1 month
LIBOR + 3.650%) (A)(B) 4.892 08-05-34 4,620,000 4,616,961
Impac Secured Assets Corp.
Series 2004-4, Class M2 (1 month
LIBOR + 0.810%) (A) 2.139 02-25-35 4,765,000 4,760,435
IMT Trust
Series 2017-APTS, Class CFX (A)(B) 3.613 06-15-34 6,800,000 6,749,709
IndyMac Index Mortgage Loan Trust
Series 2005-AR12, Class AX2 IO 1.710 07-25-35 59,624,907 2,320,512
Series 2005-AR8, Class AX2 IO 1.416 05-25-35 52,756,055 2,202,549
Series 2005-AR18, Class 1X IO 1.564 10-25-36 23,997,734 1,455,124
Series 2005-AR18, Class 2X IO 1.291 10-25-36 41,141,322 997,225
Irvine Core Office Trust
Series 2013-IRV, Class XA IO (B) 1.211 05-15-48 18,531,828 554,294
JPMBB Commercial Mortgage Securities Trust
Series 2013-C14, Class XA IO 0.916 08-15-46 16,506,229 377,365
Series 2014-C19, Class C (A) 4.816 04-15-47 11,255,000 11,521,333
JPMorgan Chase Commercial Mortgage Securities Trust
Series 2011-C3A, Class XA IO (B) 1.183 02-15-46 14,306,968 309,431
Series 2011-C4, Class XA IO (B) 1.539 07-15-46 21,723,339 315,903
Series 2012-C14, Class XA IO (B) 1.582 07-05-32 85,774,444 4,928,548
Series 2014-FL5, Class C (1 month
LIBOR + 2.100%) (A)(B) 3.350 07-15-31 11,982,000 11,889,559
Series 2014-PHH, Class C (1 month
LIBOR + 2.350%) (A)(B) 3.589 08-15-27 10,888,000 10,888,003
Series 2015-MAR7, Class C (B) 4.490 06-05-32 9,155,000 9,318,607
Series 2015-SGP, Class B (1 month
LIBOR + 2.750%) (A)(B) 3.989 07-15-36 7,241,000 7,302,060
Series 2016-JP2, Class XA IO 2.009 08-15-49 14,261,195 1,745,669
Series 2016-JP3, Class C (A) 3.622 08-15-49 4,010,000 3,844,467
MAD Mortgage Trust
Series 2017-330M, Class D (A)(B) 4.108 08-15-34 9,283,000 9,311,784
MASTR Adjustable Rate Mortgages Trust
Series 2004-11, Class M2 (1 month
LIBOR + 1.100%) (A) 2.429 11-25-34 5,779,963 5,869,895
MASTR Alternative Loan Trust
Series 2005-2, Class 4A3 (1 month
LIBOR + 0.400%) (A) 1.729 03-25-35 2,801,289 2,696,107
Merrill Lynch Mortgage Investors Trust
Series 2005-2, Class 1A (6 month
LIBOR + 1.250%) (A) 2.665 10-25-35 3,589,314 3,593,994
Merrill Lynch Mortgage Trust

SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       34



Rate (%)    Maturity date    Par value^    Value
Commercial and residential (continued)
Series 2005-CIP1, Class XC IO (B) 0.010 07-12-38 3,152,723 $495
Series 2006-C2, Class X IO (B) 0.337 08-12-43 427,672 126
Morgan Stanley Bank of America Merrill Lynch Trust
Series 2012-C5, Class XA IO (B) 1.637 08-15-45 13,686,991 743,852
Series 2012-C6, Class XA IO (B) 1.789 11-15-45 9,386,822 591,286
Series 2013-C7, Class C (A) 4.281 02-15-46 4,107,000 4,043,439
Series 2014-C18, Class 300D 5.279 08-15-31 4,175,000 4,338,522
Series 2014-C19, Class A2 3.101 12-15-47 3,200,000 3,252,482
Morgan Stanley Capital I Trust
Series 2011-C3, Class XA IO (B) 0.920 07-15-49 11,746,403 252,538
Series 2012-C4, Class AS 3.773 03-15-45 2,371,500 2,438,686
Series 2014-150E, Class D (A)(B) 4.438 09-09-32 18,800,000 19,251,572
Series 2015, Class XLF1 C (1 month
LIBOR + 2.200%) (A)(B) 3.446 08-14-31 8,420,000 8,454,339
Series 2017-CLS, Class D (1 month
LIBOR + 1.400%) (A)(B) 2.650 11-15-34 4,850,000 4,850,000
Morgan Stanley Mortgage Loan Trust
Series 2004-6AR, Class 2A2 (A) 3.761 08-25-34 2,900,029 2,889,310
MortgageIT Trust
Series 2005-2, Class 1A2 (1 month
LIBOR + 0.660%) (A) 1.989 05-25-35 2,150,102 2,131,983
MSCG Trust
Series 2016-SNR, Class D (B) 6.550 11-15-34 11,115,000 11,235,080
MSDB Trust
Series 2017-712F, Class C (A)(B) 3.749 07-11-39 2,245,000 2,260,425
MSSG Trust
Series 2017-237P, Class D (B) 3.864 09-13-39 5,235,000 5,068,877
Series 2017-237P, Class E (B) 3.864 09-13-39 7,655,000 6,914,657
Olympic Tower Mortgage Trust
Series 2017-OT, Class D (A)(B) 4.077 05-10-39 10,850,000 10,790,786
One Market Plaza Trust
Series 2017-1MKT, Class D (B) 4.146 02-10-32 4,755,000 4,819,396
Opteum Mortgage Acceptance Corp.
Asset Backed Pass Through
Certificates
Series 2005-2, Class M2 (1 month
LIBOR + 6.750%) (A) 2.004 04-25-35 5,937,672 5,934,631
Residential Accredit Loans, Inc.
Series 2005-QO4, Class XIO IO 1.970 12-25-45 21,137,680 2,128,964
Sequoia Mortgage Trust
Series 2005-3, Class A1 (1 month
LIBOR + 0.200%) (A) 1.483 05-20-35 2,129 2,081
Thornburg Mortgage Securities Trust
Series 2004-1, Class II2A (A) 2.389 03-25-44 2,497,320 2,447,853
TMSQ Mortgage Trust
Series 2011-1500, Class D (A)(B) 3.963 10-10-36 7,755,000 7,507,947
UBS Commercial Mortgage Trust
Series 2012-C1, Class B 4.822 05-10-45 3,455,000 3,719,321
UBS-Barclays Commercial Mortgage
Trust
Series 2012-C2, Class XA IO (B) 1.527 05-10-63 47,556,624 2,360,749

SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       35



Rate (%)    Maturity date    Par value^    Value
Commercial and residential (continued)
VNDO Mortgage Trust
Series 2013-PENN, Class D (A)(B) 4.079 12-13-29 16,737,000 $17,027,014
VNDO Trust
Series 2016-350P, Class D (A)(B) 4.033 01-10-35 11,190,000 10,932,557
WaMu Mortgage Pass Through Certificates
Series 2005-AR19, Class A1A2 (1
month LIBOR + 0.290%) (A) 1.619 12-25-45 4,189,588 4,104,425
Series 2005-AR2, Class 2A1B (1
month LIBOR + 0.370%) (A) 1.699 01-25-45 2,815,001 2,761,341
Series 2005-AR2, Class 2A3 (1 month
LIBOR + 0.350%) (A) 1.679 01-25-45 3,011,121 2,947,304
Series 2005-AR8, Class 2AB2 (1
month LIBOR + 0.420%) (A) 1.749 07-25-45 5,144,075 5,102,938
Series 2005-AR8, Class 2AB3 (1
month LIBOR + 0.360%) (A) 1.689 07-25-45 543,203 535,506
Wells Fargo Commercial Mortgage Trust
Series 2013-120B, Class C (A)(B) 2.800 03-18-28 14,320,000 14,250,356
Series 2013-BTC, Class E (A)(B) 3.668 04-16-35 7,270,000 6,966,309
Series 2015-LC22, Class B (A) 4.693 09-15-58 9,004,000 9,571,081
Series 2017-RB1, Class C (A) 4.311 03-15-50 6,605,000 6,700,805
WFCG Commercial Mortgage Trust
Series 2015-BXRP, Class D (1 month
LIBOR + 2.571%) (A)(B) 3.821 11-15-29 775,307 775,307
WF-RBS Commercial Mortgage Trust
Series 2011-C2, Class XA IO (B) 1.003 02-15-44 40,758,219 826,927
Series 2011-C3, Class XA IO (B) 1.533 03-15-44 28,136,905 876,580
Series 2012-C10, Class XA IO (B) 1.730 12-15-45 9,582,795 601,180
Series 2012-C9, Class B XA IO (B) 2.124 11-15-45 68,807,711 4,945,995
Series 2013-C15, Class B (A) 4.631 08-15-46 2,637,000 2,774,848
Series 2013-C15, Class C (A) 4.631 08-15-46 1,000,000 1,011,296
Series 2013-C16, Class B (A) 5.145 09-15-46 2,970,000 3,201,660
Series 2013-C16, Class XA IO 1.090 09-15-46 13,031,265 429,130
Worldwide Plaza Trust
Series 2017-WWP, Class D (A)(B) 3.596 11-10-36 7,675,000 7,459,348
U.S. Government Agency 1.5% 165,809,832
Federal Home Loan Mortgage Corp.
Series 2015-DNA1, Class M2 (1
month LIBOR + 1.850%) (A) 3.179 10-25-27 6,265,000 6,409,092
Series 2016-DNA3, Class M2 (1
month LIBOR + 2.000%) (A) 3.328 12-25-28 3,225,000 3,288,282
Series K005, Class AX IO 1.538 11-25-19 91,091,293 2,144,653
Series K006, Class BX1 IO 5.542 02-25-20 4,478,800 476,691
Series K010, Class X1 IO 0.331 10-25-20 29,469,436 139,877
Series K011, Class X1 IO 0.397 11-25-20 50,698,123 338,207
Series K014, Class X1 IO 1.187 04-25-21 40,273,420 1,367,045
Series K015, Class X1 IO 1.764 07-25-21 40,930,942 1,985,855
Series K017, Class X1 IO 1.500 12-25-21 162,844,815 7,298,265
Series K018, Class X1 IO 1.519 01-25-22 146,721,688 4,773,850
Series K021, Class X1 IO 1.600 06-25-22 35,347,028 1,940,025

SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       36



Rate (%) Maturity date Par value^ Value
U.S. Government Agency (continued)
Series K022, Class X1 IO 1.379 07-25-22 137,633,909 $6,577,855
Series K024, Class X1 IO 0.984 09-25-22 10,565,164 356,048
Series K026, Class X1 IO 1.140 11-25-22 13,094,026 535,352
Series K705, Class X1 IO 1.849 09-25-18 14,745,551 176,084
Series K707, Class X1 IO 1.653 12-25-18 10,816,847 119,315
Series K709, Class X1 IO 1.638 03-25-19 47,373,692 706,725
Series K710, Class X1 IO 1.864 05-25-19 72,078,297 1,364,947
Series K711, Class X1 IO 1.806 07-25-19 59,315,262 1,157,769
Series KAIV, Class X1 IO 1.299 06-25-21 24,197,625 842,796
Series KS01, Class X1 IO 1.469 01-25-23 13,783,049 646,819
Series KS03, Class X IO 0.429 08-25-25 38,837,906 556,303
Series T-41, Class 3A (A) 5.662 07-25-32 1,344 1,439
Federal National Mortgage Association
Series 2001-50, Class BA 7.000 10-25-41 254 288
Series 2012-M5, Class X IO 0.662 02-25-22 26,331,145 501,816
Series 2012-MB, Class X1 IO 2.167 12-25-19 5,982,853 89,919
Government National Mortgage Association
Series 2008-90, Class IO 1.757 12-16-50 3,049,051 541,344
Series 2012-114, Class IO 0.809 01-16-53 27,378,869 1,394,214
Series 2012-120, Class IO 0.791 02-16-53 11,851,764 532,797
Series 2012-125, Class IO 0.414 02-16-53 14,909,800 456,671
Series 2012-70, Class IO 0.497 08-16-52 7,316,543 160,104
Series 2013-63, Class IO 0.787 09-16-51 15,799,075 849,704
Series 2016-142, Class IO 0.998 09-16-58 32,266,843 2,592,270
Series 2016-162, Class IO 0.996 09-16-58 77,550,729 6,154,728
Series 2016-174, Class IO 0.899 11-16-56 49,573,383 3,920,288
Series 2016-87, Class IO 1.007 08-16-58 37,928,607 2,919,467
Series 2016-94, Class IO 1.170 12-16-57 143,725,357 12,396,312
Series 2017-109, Class IO 0.612 04-16-57 97,830,467 6,068,502
Series 2017-124, Class IO 0.705 01-16-59 124,493,008 8,812,200
Series 2017-135, Class IO 0.840 10-16-58 86,681,101 6,549,711
Series 2017-140, Class IO 0.609 02-16-59 74,392,641 5,198,558
Series 2017-159, Class IO 0.545 06-16-59 99,955,363 6,158,790
Series 2017-169, Class IO 0.744 01-16-60 161,315,000 11,245,317
Series 2017-20, Class IO 0.749 12-16-58 107,933,441 7,218,999
Series 2017-22, Class IO 1.047 12-16-57 40,047,475 3,702,317
Series 2017-3, Class IO 0.907 09-16-58 95,449,116 7,132,712
Series 2017-46, Class IO 0.619 11-16-57 85,525,783 5,526,197
Series 2017-61, Class IO 0.766 05-16-59 54,929,193 4,518,756
Series 2017-74, Class IO 0.781 09-16-58 123,616,525 8,067,239
Series 2017-89, Class IO 0.764 07-16-59 123,173,897 9,897,318

SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       37



   Rate (%)    Maturity date    Par value^    Value
Asset backed securities 10.4% $1,180,013,939
(Cost $1,179,035,868)
Asset backed securities 10.4% 1,180,013,939
Aegis Asset Backed Securities Trust
Series 2005-4, Class M1 (1 month
LIBOR + 0.450%) (A) 1.779 10-25-35 13,940,000 13,917,756
Ally Auto Receivables Trust
Series 2017-3, Class A3 1.740 09-15-21 17,200,000 17,125,175
Series 2017-4, Class A4 1.960 07-15-22 12,120,000 12,016,149
American Express Credit Account Master
Trust
Series 2017-1, Class A 1.930 09-15-22 34,930,000 34,841,641
Amresco Residential Securities Mortgage
Loan Trust
Series 1998-1, Class A6 6.510 08-25-27 17 18
Applebee’s Funding LLC
Series 2014-1, Class A2 (B) 4.277 09-05-44 22,805,000 22,243,283
Arby’s Funding LLC
Series 2015-1A, Class A2 (B) 4.969 10-30-45 17,316,600 17,660,508
Argent Securities, Inc.
Series 2003-W10, Class M1 (1 month
LIBOR + 1.080%) (A) 2.409 01-25-34 1,918,232 1,877,696
Series 2004-W6, Class M1 (1 month
LIBOR + 0.825%) (A) 2.154 05-25-34 1,146,407 1,143,282
BA Credit Card Trust
Series 2017-A1, Class A1 1.950 08-15-22 43,385,000 43,292,980
BMW Vehicle Owner Trust
Series 2016-A, Class A4 1.370 12-27-22 6,460,000 6,365,012
Cabela’s Credit Card Master Note Trust
Series 2016-1, Class A1 1.780 06-15-22 34,888,500 34,727,926
California Republic Auto
Receivables Trust
Series 2015-2, Class A4 1.750 01-15-21 14,957,000 14,934,588
Series 2016-2, Class A4 1.830 12-15-21 18,702,000 18,595,107
Capital One Multi-Asset Execution Trust
Series 2016-A3, Class A3 1.340 04-15-22 22,279,000 22,064,513
Series 2017-A1, Class A1 2.000 01-17-23 37,680,000 37,600,488
CarMax Auto Owner Trust
Series 2015-2, Class A4 1.800 03-15-21 6,490,000 6,470,358
Series 2016-1, Class A4 1.880 06-15-21 5,015,000 4,986,343
Series 2016-2, Class A4 1.680 09-15-21 6,310,000 6,246,159
Series 2016-3, Class A3 1.390 05-17-21 11,815,000 11,725,182
Chase Issuance Trust
Series 2016-A2, Class A 1.370 06-15-21 26,430,000 26,191,538
Series 2016-A5, Class A5 1.270 07-15-21 46,556,000 46,005,457
Chrysler Capital Auto Receivables Trust
Series 2016-BA, Class A4 (B) 1.870 02-15-22 5,620,000 5,564,956
Citibank Credit Card Issuance Trust
Series 2016-A1, Class A1 1.750 11-19-21 37,590,000 37,375,955
CKE Restaurant Holdings, Inc.
Series 2013-1A, Class A2 (B) 4.474 03-20-43 14,464,032 14,524,713

SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       38



   Rate (%)    Maturity date    Par value^    Value
Asset backed securities (continued)
CNH Equipment Trust
Series 2016-B, Class A3 1.630 08-15-21 5,240,000 $5,216,572
Series 2017-C, Class A3 2.080 02-15-23 11,870,000 11,869,717
Coinstar Funding LLC
Series 2017-1A, Class A2 (B) 5.216 04-25-47 12,954,900 13,475,467
ContiMortgage Home Equity Loan Trust
Series 1995-2, Class A5 8.100 08-15-25 96,598 65,336
Countrywide Asset-Backed Certificates
Trust
Series 2004-10, Class AF5B 4.820 02-25-35 2,135,035 2,129,937
DB Master Finance LLC
Series 2015-1A, Class A2II (B) 3.980 02-20-45 17,261,875 17,567,755
Series 2017-1A, Class A2I (B) 3.629 11-20-47 4,570,000 4,611,418
Series 2017-1A, Class A2II (B) 4.030 11-20-47 5,360,000 5,400,629
Discover Card Execution Note Trust
Series 2017-A6, Class A6 1.880 02-15-23 44,970,000 44,676,229
Domino’s Pizza Master Issuer LLC
Series 2017-1A, Class A23 (B) 4.118 07-25-47 20,748,000 21,278,319
Driven Brands Funding LLC
Series 2015-1A, Class A2 (B) 5.216 07-20-45 19,869,500 20,592,750
EquiFirst Mortgage Loan Trust
Series 2004-3, Class M3 (1 month
LIBOR + 0.975%) (A) 2.304 12-25-34 4,170,018 4,164,596
FOCUS Brands Funding LLC
Series 2017-1A, Class A2I (B) 3.857 04-30-47 4,064,575 4,123,877
Ford Credit Auto Owner Trust
Series 2014-1, Class B (B) 2.410 11-15-25 5,380,000 5,398,007
Series 2016-B, Class A4 1.520 08-15-21 3,125,000 3,090,401
Series 2016-C, Class A4 1.400 02-15-22 10,305,000 10,131,954
Series 2017-A, Class A3 1.670 06-15-21 7,926,000 7,893,548
Series 2017-B, Class A4 1.870 09-15-22 4,580,000 4,537,080
Series 2017-C, Class A4 2.160 03-15-23 12,420,000 12,417,987
Ford Credit Floorplan Master Owner
Trust
Series 2017-2, Class A1 2.160 09-15-22 19,895,000 19,870,241
GM Financial Consumer Automobile
Receivables Trust
Series 2017-2A, Class A3 (B) 1.860 12-16-21 17,780,000 17,708,014
GSAA Trust
Series 2005-10, Class M3 (1 month
LIBOR + 0.550%) (A) 1.879 06-25-35 2,394,781 2,382,504
Hertz Vehicle Financing II LP
Series 2016-3A, Class A (B) 2.270 07-25-20 7,265,000 7,228,613
Hilton Grand Vacations Trust
Series 2017-AA, Class A (B) 2.660 12-26-28 8,652,650 8,611,397
Honda Auto Receivables Owner Trust
Series 2016-2, Class A4 1.620 08-15-22 20,625,000 20,488,743
Series 2016-3, Class A4 1.330 11-18-22 19,450,000 19,195,964
Series 2016-4, Class A4 1.360 01-18-23 11,550,000 11,380,585
Series 2017-1, Class A3 1.720 07-21-21 18,540,000 18,472,761
Series 2017-2, Class A4 1.870 09-15-23 5,000,000 4,953,058

SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       39



   Rate (%)    Maturity date    Par value^    Value
Asset backed securities (continued)
Series 2017-3, Class A4 1.980 11-20-23 6,475,000 $6,444,647
Huntington Auto Trust
Series 2016-1, Class A4 1.930 04-15-22 21,380,000 21,279,215
Hyundai Auto Receivables Trust
Series 2017-A, Class A3 1.760 08-16-21 15,555,000 15,493,110
Mercedes-Benz Auto Receivables Trust
Series 2015-1, Class A4 1.750 12-15-21 20,360,000 20,312,077
Merrill Lynch Mortgage Investors Trust
Series 2004-OPT1, Class A1A (1
month LIBOR + 0.520%) (A) 1.849 06-25-35 3,210,212 3,114,297
Series 2005-WMC1, Class M1 (1
month LIBOR + 0.750%) (A) 2.078 09-25-35 2,594,359 2,516,503
MMAF Equipment Finance LLC
Series 2017-B, Class A3 (B) 2.210 10-17-22 15,903,000 15,861,126
MVW Owner Trust
Series 2014-1A, Class A (B) 2.250 09-22-31 878,280 867,615
Series 2015-1A, Class A (B) 2.520 12-20-32 2,975,836 2,967,217
Nissan Auto Receivables Owner Trust
Series 2015-B, Class A4 1.790 01-17-22 1,900,000 1,893,234
Series 2016-B, Class A4 1.540 10-17-22 4,480,000 4,424,693
Series 2017-A, Class A3 1.740 08-16-21 12,155,000 12,101,714
Series 2017-B, Class A4 1.950 10-16-23 13,955,000 13,849,169
RAAC Series Trust
Series 2006-SP4, Class M1 (1 month
LIBOR + 0.340%) (A) 1.669 11-25-36 3,795,000 3,763,938
Renaissance Home Equity Loan Trust
Series 2005-2, Class AF4 4.934 08-25-35 8,404,788 8,561,434
Sierra Timeshare Receivables
Funding LLC
Series 2014-2A, Class A (A)(B) 2.050 06-20-31 1,385,078 1,382,097
SoFi Professional Loan Program LLC
Series 2017-E, Class A2A (B) 1.860 11-26-40 11,185,775 11,146,645
Sonic Capital LLC
Series 2016-1A, Class A2 (B) 4.472 05-20-46 3,673,446 3,681,270
Structured Asset Investment Loan Trust
Series 2005-1, Class M2 (1 month
LIBOR + 0.720%) (A)(B) 2.049 02-25-35 5,559,605 5,547,175
Structured Asset Securities Corp.
Mortgage Loan Trust
Series 2005-2XS, Class 2A2 (1 month
LIBOR + 1.500%) (A) 2.742 02-25-35 2,767,199 2,723,178
SunTrust Auto Receivables Trust
Series 2015-1A, Class A4 (B) 1.780 01-15-21 9,485,000 9,467,015
Synchrony Credit Card Master Note Trust
Series 2016-1, Class A 2.040 03-15-22 16,539,000 16,558,920
Taco Bell Funding LLC
Series 2016-1A, Class A2I (B) 3.832 05-25-46 9,336,813 9,480,226
Series 2016-1A, Class A2II (B) 4.377 05-25-46 1,975,000 2,036,087
TAL Advantage V LLC
Series 2014-1A, Class A (B) 3.510 02-22-39 3,028,125 3,022,633
Towd Point Mortgage Trust
Series 2015-1, Class A5 (A)(B) 3.518 10-25-53 4,885,000 5,033,428

SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       40



   Yield* (%)    Maturity date    Par value^    Value
Asset backed securities (continued)
Series 2015-2, Class 1M2 (A)(B) 3.488 11-25-60 10,695,000 $11,104,456
Series 2016-5, Class A1 (A)(B) 2.500 10-25-56 12,514,207 12,455,691
Series 2017-1, Class A1 (A)(B) 2.750 10-25-56 4,348,671 4,357,785
Series 2017-2, Class A1 (A)(B) 2.750 04-25-57 4,788,341 4,794,296
Toyota Auto Receivables Owner Trust
Series 2016-B, Class A4 1.520 08-16-21 5,615,000 5,566,160
Series 2016-C, Class A4 1.320 11-15-21 5,597,000 5,518,280
Series 2017-A, Class A3 1.730 02-16-21 16,000,000 15,959,142
Series 2017-B, Class A3 1.760 07-15-21 22,590,000 22,476,686
Series 2017-C, Class A4 1.980 12-15-22 12,680,000 12,591,227
VSE VOI Mortgage LLC
Series 2017-A, Class A (B) 2.330 03-20-35 11,256,705 11,127,122
Wendys Funding LLC
Series 2015-1A, Class A2I (B) 3.371 06-15-45 32,228,280 32,382,653
Series 2015-1A, Class A2II (B) 4.080 06-15-45 2,058,000 2,102,803
Westgate Resorts LLC
Series 2014-1A, Class A (B) 2.150 12-20-26 3,994,563 3,979,083
Series 2014-1A, Class B (B) 3.250 12-20-26 1,996,543 1,997,789
Series 2015-1A, Class A (B) 2.750 05-20-27 1,581,143 1,581,931
Series 2015-2A, Class B (B) 4.000 07-20-28 3,463,333 3,477,747
Series 2016-1A, Class A (B) 3.500 12-20-28 2,560,847 2,574,340
Series 2017-1A, Class A (B) 3.050 12-20-30 7,347,699 7,339,504
World Omni Auto Receivables Trust
Series 2016-A, Class A3 1.770 09-15-21 22,740,000 22,688,896
Series 2017-B, Class A3 1.950 02-15-23 6,020,000 5,979,443
Shares Value
Preferred securities 0.3% $37,911,285
(Cost $36,485,277)
Consumer staples 0.0% 2,565,005
Food and staples retailing 0.0%
Ocean Spray Cranberries, Inc., 6.250% (B) 28,284 2,565,005
Financials 0.1% 16,162,823
Banks 0.1%
GMAC Capital Trust I (3 month LIBOR + 5.785%), 7.201% (A) 374,059 9,770,421
Regions Financial Corp., 6.375% 139,454 3,524,003
Wells Fargo & Company, Series L, 7.500% 2,139 2,868,399
Utilities 0.2% 19,183,457
Multi-utilities 0.2%
Dominion Energy, Inc., 6.750% 258,872 13,691,740
DTE Energy Company, 6.500% 97,700 5,491,717

SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       41



   Rate (%)    Maturity date    Par value^    Value
Short-term investments 3.1% $346,325,000
(Cost $346,325,000)
U.S. Government Agency 2.2% 249,682,000
Federal Agricultural Mortgage Corp.
Discount Note 0.950 12-01-17 12,828,000 12,828,000
Federal Farm Credit Bank Discount Note 0.950 12-01-17 19,720,000 19,720,000
Federal Home Loan Bank Discount Note 0.700 12-01-17 39,852,000 39,852,000
Federal Home Loan Bank Discount Note 0.750 12-01-17 19,715,000 19,715,000
Federal Home Loan Bank Discount Note 0.900 12-01-17 157,567,000 157,567,000
Par value^ Value
Repurchase agreement 0.9% 96,643,000
Barclays Tri-Party Repurchase Agreement
dated 11-30-17 at 1.020% to be
repurchased at $88,521,508 on
12-1-17, collateralized by
$11,333,000 U.S. Treasury Bonds,
2.500% due 5-15-46 (valued at
$10,628,494, including interest),
$71,348,500 U.S. Treasury Notes,
2.250% due 2-15-27 (valued at
$71,040,426, including interest),
$1,963,600 U.S. Treasury Inflation
Indexed Bonds, 1.000% - 2.125%
due 2-15-41 to 2-15-46 (valued at
$2,104,924, including interest) and
$6,475,100 U.S. Treasury Inflation
Indexed Notes, 0.375% - 1.375% due
1-15-20 to 1-15-27 (valued at
$6,518,159, including interest) 88,519,000 88,519,000
Repurchase Agreement with State Street
Corp. dated 11-30-17 at 0.340% to
be repurchased at $8,124,077 on
12-1-17, collateralized by $7,890,000
U.S. Treasury Notes, 3.625% due
2-15-20 (valued at $8,287,388,
including interest) 8,124,000 8,124,000
Total investments (Cost $11,400,792,287) 101.2% $11,508,820,101
Other assets and liabilities, net (1.2%) (137,417,022)
Total net assets 100.0% $11,371,403,079
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
^All par values are denominated in U.S. dollars unless otherwise indicated.
Currency Abbreviations
BRL   Brazilian Real
Security Abbreviations and Legend
CMT Constant Maturity Treasury
IO Interest-Only Security - (Interest Tranche of Stripped Mortgage Pool). Rate shown is the annualized yield at the end of the period.
ISDAFIX International Swaps and Derivatives Association Fixed Interest Rate Swap Rate
LIBOR London Interbank Offered Rate
(A) Variable rate obligation. The coupon rate shown represents the rate at period end.

SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       42



(B)  

These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $2,503,384,652 or 22.0% of the fund’s net assets as of 11-30-17.

(C)

Non-income producing - Issuer is in default.

(D)

Security is valued using significant unobservable inputs.

(E)

Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date.

(F)

Term loans are variable rate obligations. The coupon rate shown represents the rate at period end.

*

Yield represents either the annualized yield at the date of purchase, the stated coupon rate or, for floating rate securities, the rate at period end.

At 11-30-17, the aggregate cost of investments for federal income tax purposes was $11,426,934,111. Net unrealized appreciation aggregated to $81,885,990, of which $161,421,416 related to gross unrealized appreciation and $79,535,426 related to gross unrealized depreciation.


SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       43



Financial statements

STATEMENT OF ASSETS AND LIABILITIES 11-30-17 (unaudited)


                       
   
   
  Assets              
  Investments, at value (Cost $11,400,792,287)           $11,508,820,101  
  Cash           204,207  
  Receivable for investments sold           11,946,708  
  Receivable for delayed delivery securities sold           235,895,016  
  Receivable for fund shares sold           44,213,727  
  Dividends and interest receivable           81,694,435  
  Other receivables and prepaid expenses           1,070,105  
  Total assets           11,883,844,299  
  Liabilities              
  Payable for investments purchased           25,243,787  
  Payable for delayed delivery securities purchased           473,369,646  
  Payable for fund shares repurchased           11,121,593  
  Distributions payable           670,298  
  Payable to affiliates              
  Accounting and legal services fees           450,801  
  Transfer agent fees           414,058  
  Distribution and service fees           259,057  
  Trustees' fees           4,728  
  Other liabilities and accrued expenses           907,252  
  Total liabilities           512,441,220  
  Net assets           $11,371,403,079  
  Net assets consist of              
  Paid-in capital           $11,326,561,188  
  Accumulated distributions in excess of net investment income           (6,123,996 )
  Accumulated net realized gain (loss) on investments and foreign currency transactions           (57,093,077 )
  Net unrealized appreciation (depreciation) on investments and translation of assets and liabilities in foreign currencies           108,058,964  
  Net assets           $11,371,403,079  
                 
  Net asset value per share              
  Based on net asset values and shares outstanding-the fund has an unlimited number of shares authorized with no par value              
  Class A ($1,537,810,009 ÷ 96,745,434 shares)1           $15.90  
  Class B ($13,537,835 ÷ 851,770 shares)1           $15.89  
  Class C ($294,555,566 ÷ 18,529,748 shares)1           $15.90  
  Class I ($2,075,239,410 ÷ 130,540,773 shares)           $15.90  
  Class R2 ($71,983,920 ÷ 4,523,583 shares)           $15.91  
  Class R4 ($31,485,839 ÷ 1,977,986 shares)           $15.92  
  Class R6 ($5,246,213,598 ÷ 329,458,873 shares)           $15.92  
  Class NAV ($2,100,576,902 ÷ 131,975,157 shares)           $15.92  
  Maximum offering price per share              
  Class A (net asset value per share ÷ 96%)2           $16.56  

                                   
  1     Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.              
  2     On single retail sales of less than $100,000. On sales of $100,000 or more and on group sales the offering price is reduced.              

SEE NOTES TO FINANCIAL STATEMENTS
SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       44


STATEMENT OF OPERATIONS  For the six months ended 11-30-17 (unaudited)


                                   
   
   
                             
  Investment income                    
  Interest                 $190,566,020  
  Dividends                 1,201,711  
  Less foreign taxes withheld                 (9,730 )
  Total investment income                 191,758,001  
  Expenses                    
  Investment management fees                 18,853,813  
  Distribution and service fees                 4,051,490  
  Accounting and legal services fees                 1,247,847  
  Transfer agent fees                 3,769,234  
  Trustees' fees                 74,034  
  State registration fees                 337,616  
  Printing and postage                 333,361  
  Professional fees                 95,572  
  Custodian fees                 703,145  
  Other                 356,139  
  Total expenses                 29,822,251  
  Less expense reductions                 (2,185,451 )
  Net expenses                 27,636,800  
  Net investment income                 164,121,201  
  Realized and unrealized gain (loss)                    
  Net realized gain (loss) on                    
  Investments and foreign currency transactions                 27,454,209  
                    27,454,209  
  Change in net unrealized appreciation (depreciation) of                    
  Investments and translation of assets and liabilities in foreign currencies                 (43,030,122 )
                    (43,030,122 )
  Net realized and unrealized loss                 (15,575,913 )
  Increase in net assets from operations                 $148,545,288  

SEE NOTES TO FINANCIAL STATEMENTS
SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       45


STATEMENTS OF CHANGES IN NET ASSETS 

   
   
                       
                    Six months ended 11-30-17                       Year ended 5-31-17        
                    (unaudited)                                
  Increase (decrease) in net assets                                      
  From operations                                      
  Net investment income                 $164,121,201                 $165,268,873  
  Net realized gain                 27,454,209                 1,285,991  
  Change in net unrealized appreciation (depreciation)                 (43,030,122 )               74,918,915  
  Increase in net assets resulting from operations                 148,545,288                 241,473,779  
  Distributions to shareholders                                      
  From net investment income      
  Class A                 (23,338,902 )               (56,573,672 )
  Class B                 (178,483 )               (466,887 )
  Class C                 (3,547,511 )               (7,535,610 )
  Class I                 (82,654,276 )               (99,600,806 )
  Class R2                 (1,008,904 )               (1,593,207 )
  Class R4                 (489,632 )               (400,617 )
  Class R6                 (30,733,465 )               (6,314,425 )
  Class NAV                 (34,350,100 )               (6,871,857 )
  Total distributions                 (176,301,273 )               (179,357,081 )
  From fund share transactions                 1,730,800,830                 3,651,788,840  
  Issued in reorganization                                 2,175,087,127  
  Total from fund share transactions                 1,730,800,830                 5,826,875,967  
  Total increase                 1,703,044,845                 5,888,992,665  
  Net assets                                      
  Beginning of period                 9,668,358,234                 3,779,365,569  
  End of period                 $11,371,403,079                 $9,668,358,234  
  Undistributed (accumulated distributions in excess of) net investment income                 ($6,123,996 )               $6,056,076  

SEE NOTES TO FINANCIAL STATEMENTS
SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       46


Financial highlights

                                                                                                                                                                                                                                   
         
         
         
  Class A Shares Period ended     11-30-17 1         5-31-17           5-31-16           5-31-15           5-31-14           5-31-13  
  Per share operating performance                                                                                                                    
  Net asset value, beginning of period                       $15.93                 $15.79                 $16.06                 $16.26                 $16.37                 $15.86  
  Net investment income2                       0.23                 0.45                 0.47                 0.53                 0.61                 0.63  
  Net realized and unrealized gain (loss) on investments                       (0.01 )               0.18                 (0.23 )               (0.05 )               0.02                 0.61  
  Total from investment operations                       0.22                 0.63                 0.24                 0.48                 0.63                 1.24  
  Less distributions                                                                                                                    
  From net investment income                       (0.25 )               (0.49 )               (0.51 )               (0.63 )               (0.67 )               (0.70 )
  From net realized gain                                                                       (0.05 )               (0.07 )               (0.03 )
  Total distributions                       (0.25 )               (0.49 )               (0.51 )               (0.68 )               (0.74 )               (0.73 )
  Net asset value, end of period                       $15.90                 $15.93                 $15.79                 $16.06                 $16.26                 $16.37  
  Total return (%)3,4                       1.37  5               4.07                 1.59                 3.02                 4.06                 7.93  
  Ratios and supplemental data                                                                                                                    
  Net assets, end of period (in millions)                       $1,538                 $1,492                 $1,904                 $1,740                 $1,411                 $1,434  
  Ratios (as a percentage of average net assets):                                                                                                                        
        Expenses before reductions                       0.83  6               0.89                 0.93                 0.94                 0.98                 1.03  
        Expenses including reductions                       0.79  6               0.83                 0.87                 0.89                 0.92                 0.98  
        Net investment income                       2.85  6               2.83                 3.01                 3.25                 3.80                 3.84  
  Portfolio turnover (%)                       37                 98  7               56                 66                 77                 72  

                                                                                                                                                                       
  1     Six months ended 11-30-17. Unaudited.              
  2     Based on average daily shares outstanding.              
  3     Does not reflect the effect of sales charges, if any.              
  4     Total returns would have been lower had certain expenses not been reduced during the applicable periods.              
  5     Not annualized.              
  6     Annualized.              
  7     Excludes merger activity.              

SEE NOTES TO FINANCIAL STATEMENTS
SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       47


                                                                                                                                                                                                                                   
         
         
         
  Class B Shares Period ended     11-30-17 1         5-31-17           5-31-16           5-31-15           5-31-14           5-31-13  
  Per share operating performance                                                                                                                    
  Net asset value, beginning of period                       $15.93                 $15.79                 $16.06                 $16.26                 $16.37                 $15.86  
  Net investment income2                       0.17                 0.34                 0.36                 0.42                 0.50                 0.51  
  Net realized and unrealized gain (loss) on investments                       (0.02 )               0.18                 (0.23 )               (0.05 )               0.02                 0.61  
  Total from investment operations                       0.15                 0.52                 0.13                 0.37                 0.52                 1.12  
  Less distributions                                                                                                                    
  From net investment income                       (0.19 )               (0.38 )               (0.40 )               (0.52 )               (0.56 )               (0.58 )
  From net realized gain                                                                       (0.05 )               (0.07 )               (0.03 )
  Total distributions                       (0.19 )               (0.38 )               (0.40 )               (0.57 )               (0.63 )               (0.61 )
  Net asset value, end of period                       $15.89                 $15.93                 $15.79                 $16.06                 $16.26                 $16.37  
  Total return (%)3,4                       0.95  5               3.35                 0.88                 2.31                 3.34                 7.18  
  Ratios and supplemental data                                                                                                                    
  Net assets, end of period (in millions)                       $14                 $16                 $23                 $28                 $33                 $44  
  Ratios (as a percentage of average net assets):                                                                                                                        
        Expenses before reductions                       1.53  6               1.59                 1.63                 1.64                 1.68                 1.73  
        Expenses including reductions                       1.49  6               1.53                 1.57                 1.59                 1.62                 1.68  
        Net investment income                       2.16  6               2.14                 2.32                 2.57                 3.11                 3.15  
  Portfolio turnover (%)                       37                 98  7               56                 66                 77                 72  

                                                                                                                                                                       
  1     Six months ended 11-30-17. Unaudited.              
  2     Based on average daily shares outstanding.              
  3     Does not reflect the effect of sales charges, if any.              
  4     Total returns would have been lower had certain expenses not been reduced during the applicable periods.              
  5     Not annualized.              
  6     Annualized.              
  7     Excludes merger activity.              

SEE NOTES TO FINANCIAL STATEMENTS
SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       48


                                                                                                                                                                                                                                   
         
         
         
  Class C Shares Period ended     11-30-17 1         5-31-17           5-31-16           5-31-15           5-31-14           5-31-13  
  Per share operating performance                                                                                                                    
  Net asset value, beginning of period                       $15.93                 $15.79                 $16.06                 $16.26                 $16.37                 $15.87  
  Net investment income2                       0.17                 0.34                 0.36                 0.41                 0.49                 0.51  
  Net realized and unrealized gain (loss) on investments                       (0.01 )               0.18                 (0.23 )               (0.04 )               0.03                 0.60  
  Total from investment operations                       0.16                 0.52                 0.13                 0.37                 0.52                 1.11  
  Less distributions                                                                                                                    
  From net investment income                       (0.19 )               (0.38 )               (0.40 )               (0.52 )               (0.56 )               (0.58 )
  From net realized gain                                                                       (0.05 )               (0.07 )               (0.03 )
  Total distributions                       (0.19 )               (0.38 )               (0.40 )               (0.57 )               (0.63 )               (0.61 )
  Net asset value, end of period                       $15.90                 $15.93                 $15.79                 $16.06                 $16.26                 $16.37  
  Total return (%)3,4                       1.01  5               3.35                 0.88                 2.31                 3.34                 7.11  
  Ratios and supplemental data                                                                                                                    
  Net assets, end of period (in millions)                       $295                 $299                 $310                 $250                 $162                 $195  
  Ratios (as a percentage of average net assets):                                                                                                                        
        Expenses before reductions                       1.53  6               1.59                 1.63                 1.64                 1.68                 1.72  
        Expenses including reductions                       1.49  6               1.53                 1.57                 1.59                 1.62                 1.67  
        Net investment income                       2.15  6               2.14                 2.31                 2.53                 3.10                 3.12  
  Portfolio turnover (%)                       37                 98  7               56                 66                 77                 72  

                                                                                                                                                                       
  1     Six months ended 11-30-17. Unaudited.              
  2     Based on average daily shares outstanding.              
  3     Does not reflect the effect of sales charges, if any.              
  4     Total returns would have been lower had certain expenses not been reduced during the applicable periods.              
  5     Not annualized.              
  6     Annualized.              
  7     Excludes merger activity.              

SEE NOTES TO FINANCIAL STATEMENTS
SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       49


                                                                                                                                                                                                                                   
         
         
         
  Class I Shares Period ended     11-30-17 1         5-31-17           5-31-16           5-31-15           5-31-14           5-31-13  
  Per share operating performance                                                                                                                    
  Net asset value, beginning of period                       $15.93                 $15.80                 $16.06                 $16.26                 $16.37                 $15.87  
  Net investment income2                       0.25                 0.50                 0.52                 0.57                 0.66                 0.68  
  Net realized and unrealized gain (loss) on investments                       (0.01 )               0.17                 (0.22 )               (0.04 )               0.02                 0.61  
  Total from investment operations                       0.24                 0.67                 0.30                 0.53                 0.68                 1.29  
  Less distributions                                                                                                                    
  From net investment income                       (0.27 )               (0.54 )               (0.56 )               (0.68 )               (0.72 )               (0.76 )
  From net realized gain                                                                       (0.05 )               (0.07 )               (0.03 )
  Total distributions                       (0.27 )               (0.54 )               (0.56 )               (0.73 )               (0.79 )               (0.79 )
  Net asset value, end of period                       $15.90                 $15.93                 $15.80                 $16.06                 $16.26                 $16.37  
  Total return (%)3                       1.52  4               4.33                 1.97                 3.35                 4.40                 8.27  
  Ratios and supplemental data                                                                                                                    
  Net assets, end of period (in millions)                       $2,075                 $5,385                 $1,367                 $793                 $302                 $277  
  Ratios (as a percentage of average net assets):                                                                                                                        
        Expenses before reductions                       0.52  5               0.57                 0.61                 0.63                 0.66                 0.65  
        Expenses including reductions                       0.48  5               0.51                 0.56                 0.57                 0.60                 0.60  
        Net investment income                       3.13  5               3.15                 3.32                 3.53                 4.11                 4.19  
  Portfolio turnover (%)                       37                 98  6               56                 66                 77                 72  

                                                                                                                                                                       
  1     Six months ended 11-30-17. Unaudited.              
  2     Based on average daily shares outstanding.              
  3     Total returns would have been lower had certain expenses not been reduced during the applicable periods.              
  4     Not annualized.              
  5     Annualized.              
  6     Excludes merger activity.              

SEE NOTES TO FINANCIAL STATEMENTS
SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       50


                                                                                                                                                                                                                                   
         
         
         
  Class R2 Shares Period ended     11-30-17 1         5-31-17           5-31-16           5-31-15           5-31-14           5-31-13  
  Per share operating performance                                                                                                                    
  Net asset value, beginning of period                       $15.95                 $15.81                 $16.08                 $16.27                 $16.38                 $15.87  
  Net investment income2                       0.22                 0.44                 0.46                 0.51                 0.60                 0.62  
  Net realized and unrealized gain (loss) on investments                       (0.02 )               0.18                 (0.23 )               (0.02 )               0.02                 0.64  
  Total from investment operations                       0.20                 0.62                 0.23                 0.49                 0.62                 1.26  
  Less distributions                                                                                                                    
  From net investment income                       (0.24 )               (0.48 )               (0.50 )               (0.63 )               (0.66 )               (0.72 )
  From net realized gain                                                                       (0.05 )               (0.07 )               (0.03 )
  Total distributions                       (0.24 )               (0.48 )               (0.50 )               (0.68 )               (0.73 )               (0.75 )
  Net asset value, end of period                       $15.91                 $15.95                 $15.81                 $16.08                 $16.27                 $16.38  
  Total return (%)3                       1.26  4               3.97                 1.55                 2.97                 4.01                 8.09  
  Ratios and supplemental data                                                                                                                    
  Net assets, end of period (in millions)                       $72                 $56                 $56                 $39                 $7                 $2  
  Ratios (as a percentage of average net assets):                                                                                                                        
        Expenses before reductions                       0.92  5               0.98                 1.03                 0.98                 1.05                 1.03  
        Expenses including reductions                       0.88  5               0.92                 0.97                 0.93                 0.99                 0.98  
        Net investment income                       2.77  5               2.75                 2.92                 3.16                 3.76                 3.88  
  Portfolio turnover (%)                       37                 98  6               56                 66                 77                 72  

                                                                                                                                                                       
  1     Six months ended 11-30-17. Unaudited.              
  2     Based on average daily shares outstanding.              
  3     Total returns would have been lower had certain expenses not been reduced during the applicable periods.              
  4     Not annualized.              
  5     Annualized.              
  6     Excludes merger activity.              

SEE NOTES TO FINANCIAL STATEMENTS
SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       51


                                                                                                                                                                             
   
   
   
  Class R4 Shares Period ended     11-30-17 1         5-31-17           5-31-16           5-31-15 2
  Per share operating performance                                                                                
  Net asset value, beginning of period                       $15.95                 $15.81                 $16.08                 $16.15  
  Net investment income3                       0.24                 0.49                 0.51                 0.06  
  Net realized and unrealized gain (loss) on investments                       (0.01 )               0.17                 (0.22 )               (0.03 )
  Total from investment operations                       0.23                 0.66                 0.29                 0.03  
  Less distributions                                                                                
  From net investment income                       (0.26 )               (0.52 )               (0.56 )               (0.10 )
  Total distributions                       (0.26 )               (0.52 )               (0.56 )               (0.10 )
  Net asset value, end of period                       $15.92                 $15.95                 $15.81                 $16.08  
  Total return (%)4                       1.44  5               4.25                 1.86                 0.18  5
  Ratios and supplemental data                                                                                
  Net assets, end of period (in millions)                       $31                 $29                  6                6
  Ratios (as a percentage of average net assets):                                                                                    
        Expenses before reductions                       0.78  7               0.82                 0.82                 0.80  7
        Expenses including reductions                       0.64  7               0.66                 0.66                 0.64  7
        Net investment income                       3.01  7               3.09                 3.24                 2.21  7
  Portfolio turnover (%)                       37                 98  9               56                 66  8

                                                                                                                                                                       
  1     Six months ended 11-30-17. Unaudited.              
  2     The inception date for Class R4 shares is 3-27-15.              
  3     Based on average daily shares outstanding.              
  4     Total returns would have been lower had certain expenses not been reduced during the period.              
  5     Not annualized.              
  6     Less than $500,000.              
  7     Annualized.              
  8     The portfolio turnover is shown for the period from 6-1-14 to 5-31-15.              
  9     Excludes merger activity.              

SEE NOTES TO FINANCIAL STATEMENTS
SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       52


                                                                                                                                                                                                                                   
         
         
         
  Class R6 Shares Period ended     11-30-17 1         5-31-17           5-31-16           5-31-15           5-31-14           5-31-13  
  Per share operating performance                                                                                                                    
  Net asset value, beginning of period                       $15.96                 $15.81                 $16.08                 $16.28                 $16.38                 $15.87  
  Net investment income2                       0.26                 0.52                 0.54                 0.59                 0.68                 0.70  
  Net realized and unrealized gain (loss) on investments                       (0.02 )               0.19                 (0.23 )               (0.04 )               0.03                 0.61  
  Total from investment operations                       0.24                 0.71                 0.31                 0.55                 0.71                 1.31  
  Less distributions                                                                                                                    
  From net investment income                       (0.28 )               (0.56 )               (0.58 )               (0.70 )               (0.74 )               (0.77 )
  From net realized gain                                                                       (0.05 )               (0.07 )               (0.03 )
  Total distributions                       (0.28 )               (0.56 )               (0.58 )               (0.75 )               (0.81 )               (0.80 )
  Net asset value, end of period                       $15.92                 $15.96                 $15.81                 $16.08                 $16.28                 $16.38  
  Total return (%)3                       1.51  4               4.58                 2.02                 3.45                 4.58                 8.42  
  Ratios and supplemental data                                                                                                                    
  Net assets, end of period (in millions)                       $5,246                 $529                 $118                 $93                 $43                 $3  
  Ratios (as a percentage of average net assets):                                                                                                                        
        Expenses before reductions                       0.43  5               0.48                 0.52                 0.54                 0.56                 0.57  
        Expenses including reductions                       0.39  5               0.41                 0.44                 0.46                 0.50                 0.52  
        Net investment income                       3.31  5               3.27                 3.45                 3.66                 4.26                 4.30  
  Portfolio turnover (%)                       37                 98  6               56                 66                 77                 72  

                                                                                                                                                                       
  1     Six months ended 11-30-17. Unaudited.              
  2     Based on average daily shares outstanding.              
  3     Total returns would have been lower had certain expenses not been reduced during the applicable periods.              
  4     Not annualized.              
  5     Annualized.              
  6     Excludes merger activity.              

SEE NOTES TO FINANCIAL STATEMENTS
SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       53


                                                                                                                                               
   
   
   
  Class NAV Shares Period ended     11-30-17 1         5-31-17           5-31-16 2
  Per share operating performance                                                              
  Net asset value, beginning of period                       $15.95                 $15.81                 $15.78  
  Net investment income3                       0.26                 0.51                 0.41  
  Net realized and unrealized gain (loss) on investments                       (0.01 )               0.19                 0.06  
  Total from investment operations                       0.25                 0.70                 0.47  
  Less distributions                                                              
  From net investment income                       (0.28 )               (0.56 )               (0.44 )
  Total distributions                       (0.28 )               (0.56 )               (0.44 )
  Net asset value, end of period                       $15.92                 $15.95                 $15.81  
  Total return (%)4                       1.58  5               4.51                 3.03  5
  Ratios and supplemental data                                                              
  Net assets, end of period (in millions)                       $2,101                 $1,862                 $2  
  Ratios (as a percentage of average net assets):                                                                  
        Expenses before reductions                       0.42  6               0.46                 0.50  6
        Expenses including reductions                       0.38  6               0.41                 0.44  6
        Net investment income                       3.27  6               3.28                 3.44  6
  Portfolio turnover (%)                       37                 98  8               56  7

                                                                                                                                                                 
  1     Six months ended 11-30-17. Unaudited.              
  2     The inception date for Class NAV shares is 8-31-15.              
  3     Based on average daily shares outstanding.              
  4     Total returns would have been lower had certain expenses not been reduced during the applicable periods.              
  5     Not annualized.              
  6     Annualized.              
  7     The portfolio turnover is shown for the period from 6-1-15 to 5-31-16.              
  8     Excludes merger activity.              

SEE NOTES TO FINANCIAL STATEMENTS
SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       54


Notes to financial statements (unaudited)

Note 1 — Organization

John Hancock Bond Fund (the fund) is a series of John Hancock Sovereign Bond Fund (the Trust), an open-end management investment company organized as a Massachusetts business trust and registered under the Investment Company Act of 1940, as amended (the 1940 Act). The investment objective of the fund is to seek a high level of current income consistent with prudent investment risk.

The fund may offer multiple classes of shares. The shares currently offered are detailed in the Statement of assets and liabilities. Class A and Class C shares are offered to all investors. Class B shares are closed to new investors. Class I shares are offered to institutions and certain investors. Class R2 and Class R4 shares are available only to certain retirement plans. Class R6 shares are available only to certain retirement plans, institutions and other investors. Class NAV shares are offered to John Hancock affiliated funds of funds and certain 529 plans. Shareholders of each class have exclusive voting rights to matters that affect that class. The distribution and service fees, if any, and transfer agent fees for each class may differ. Class B shares convert to Class A shares eight years after purchase.

Note 2 — Significant accounting policies

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP), which require management to make certain estimates and assumptions as of the date of the financial statements. Actual results could differ from those estimates and those differences could be significant. The fund qualifies as an investment company under Topic 946 of Accounting Standards Codification of US GAAP.

Events or transactions occurring after the end of the fiscal period through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the fund:

Security valuation. Investments are stated at value as of the scheduled close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 p.m., Eastern Time. In case of emergency or other disruption resulting in the NYSE not opening for trading or the NYSE closing at a time other than the regularly scheduled close, the net asset value (NAV) may be determined as of the regularly scheduled close of the NYSE pursuant to the fund's Valuation Policies and Procedures.

In order to value the securities, the fund uses the following valuation techniques: Debt obligations are valued based on the evaluated prices provided by an independent pricing vendor or from broker-dealers. Independent pricing vendors utilize matrix pricing which takes into account factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics and other market data, as well as broker supplied prices. Equity securities held by the fund are typically valued at the last sale price or official closing price on the exchange or principal market where the security trades. In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price.

In certain instances, the Pricing Committee may determine to value equity securities using prices obtained from another exchange or market if trading on the exchange or market on which prices are typically obtained did not open for trading as scheduled, or if trading closed earlier than scheduled, and trading occurred as normal on another exchange or market.

Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued at fair value as determined in good faith by the fund's Pricing Committee following procedures established by the Board of Trustees. The frequency with which these fair valuation procedures are used cannot be predicted and fair value of securities may differ significantly from the value that would have been used had a ready market for such securities existed.

The fund uses a three-tier hierarchy to prioritize the pricing assumptions, referred to as inputs, used in valuation techniques to measure fair value. Level 1 includes securities valued using quoted prices in active markets for identical securities. Level 2 includes securities valued using other significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepayment speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available or reliable, including the fund's

SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       55


own assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques and related inputs may result in transfers into or out of an assigned level within the disclosure hierarchy.

The following is a summary of the values by input classification of the fund's investments as of November 30, 2017, by major security category or type:

         
  Total
value at
11-30-17
Level 1
quoted
price
Level 2
significant
observable
inputs
Level 3
significant
unobservable
inputs
Investments in securities:        
Assets        
U.S. Government and Agency obligations $3,888,161,350 $3,888,161,350
Foreign government obligations 56,863,173 56,863,173
Corporate bonds 5,027,736,316 5,027,736,316
Convertible bonds 9,206,141 9,206,141
Capital preferred securities 19,359,926 19,359,926
Term loans 10,461,481 10,461,481
Collateralized mortgage obligations 932,781,490 932,781,490
Asset backed securities 1,180,013,939 1,180,013,939
Preferred securities 37,911,285 $35,346,280 2,565,005
Short-term investments 346,325,000 346,325,000
Total investments in securities $11,508,820,101 $35,346,280 $11,473,473,821

Repurchase agreements. The fund may enter into repurchase agreements. When the fund enters into a repurchase agreement, it receives collateral that is held in a segregated account by the fund's custodian, or for tri-party repurchase agreements, collateral is held at a third-party custodian bank in a segregated account for the benefit of the fund. The collateral amount is marked-to-market and monitored on a daily basis to ensure that the collateral held is in an amount not less than the principal amount of the repurchase agreement plus any accrued interest. Collateral received by the fund for repurchase agreements is disclosed in the Fund's investments as part of the caption related to the repurchase agreement.

Repurchase agreements are typically governed by the terms and conditions of the Master Repurchase Agreement and/or Global Master Repurchase Agreement (collectively, MRA). Upon an event of default, the non-defaulting party may close out all transactions traded under the MRA and net amounts owed. Absent an event of default, assets and liabilities resulting from repurchase agreements are not offset in the Statement of assets and liabilities. In the event of a default by the counterparty, realization of the collateral proceeds could be delayed, during which time the collateral value may decline or the counterparty may have insufficient assets to pay back claims resulting from close-out of the transactions.

Stripped securities. Stripped securities are financial instruments structured to separate principal and interest cash flows so that one class receives principal payments from the underlying assets (PO or principal only), while the other class receives the interest cash flows (IO or interest only). Both PO and IO investments represent an interest in the cash flows of an underlying stripped security. If the underlying assets experience greater than anticipated prepayments of principal, the fund may fail to fully recover its initial investment in an IO security. The market value of these securities can be extremely volatile in response to changes in interest rates or prepayments on the underlying securities. In addition, these securities present additional credit risk such that the fund may not receive all or part of its principal or interest payments because the borrower or issuer has defaulted on its obligation.

Security transactions and related investment income. Investment security transactions are accounted for on a trade date plus one basis for daily NAV calculations. However, for financial reporting purposes, investment transactions are reported on trade date. Interest income is accrued as earned. Interest income includes coupon interest and amortization/

SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       56


accretion of premiums/discounts on debt securities. Debt obligations may be placed in a non-accrual status and related interest income may be reduced by stopping current accruals and writing off interest receivable when the collection of all or a portion of interest has become doubtful. Dividend income is recorded on the ex-date, except for dividends of foreign securities where the dividend may not be known until after the ex-date. In those cases, dividend income, net of withholding taxes, is recorded when the fund becomes aware of the dividends. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds from litigation.

When-issued/delayed-delivery securities. The fund may purchase or sell debt securities on a when-issued or delayed-delivery basis, or in a "To Be Announced" (TBA) or "forward commitment" transaction, with delivery or payment to occur at a later date beyond the normal settlement period. At the time a fund enters into a commitment to purchase or sell a security, the transaction is recorded and the value of the security is reflected in the fund's NAV. The price of such security and the date that the security will be delivered and paid for are fixed at the time the transaction is negotiated. The value of the security may vary with market fluctuations. No interest accrues to the portfolio until settlement takes place. At the time that the fund enters into this type of transaction, the fund is required to have sufficient cash and/or liquid securities to cover its commitments.

Foreign currency translation. Assets, including investments and liabilities denominated in foreign currencies, are translated into U.S. dollar values each day at the prevailing exchange rate. Purchases and sales of securities, income and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on the value of securities is reflected as a component of the realized and unrealized gains (losses) on investments.

Funds that invest internationally generally carry more risk than funds that invest strictly in U.S. securities. Risks can result from differences in economic and political conditions, regulations, market practices (including higher transaction costs), accounting standards and other factors. Foreign investments are also subject to a decline in the value of a foreign currency versus the U.S. dollar, which reduces the dollar value of securities denominated in that currency.

Foreign taxes. The fund may be subject to withholding tax on income and/or capital gains or repatriation taxes imposed by certain countries in which the fund invests. Taxes are accrued based upon investment income, realized gains or unrealized appreciation.

Line of credit. The fund may have the ability to borrow from banks for temporary or emergency purposes, including meeting redemption requests that otherwise might require the untimely sale of securities. Pursuant to the fund's custodian agreement, the custodian may loan money to the fund to make properly authorized payments. The fund is obligated to repay the custodian for any overdraft, including any related costs or expenses. The custodian may have a lien, security interest or security entitlement in any fund property that is not otherwise segregated or pledged, to the extent of any overdraft, and to the maximum extent permitted by law.

Effective June 29, 2017, the fund and other affiliated funds have entered into a syndicated line of credit agreement with Citibank, N.A. as the administrative agent that enables them to participate in a $750 million unsecured committed line of credit. Excluding commitments designated for a certain fund and subject to the needs of all other affiliated funds, the fund can borrow up to an aggregate commitment amount of $500 million, subject to asset coverage and other limitations as specified in the agreement. A commitment fee payable at the end of each calendar quarter, based on the average daily unused portion of the line of credit, is charged to each participating fund based on a combination of fixed and asset based allocations and is reflected in Other expenses on the Statement of operations. Prior to June 29, 2017, the fund had a similar agreement that enabled it to participate in a $1 billion unsecured committed line of credit. For the six months ended November 30, 2017 the fund had no borrowings under either line of credit. Commitment fees for the six months ended November 30, 2017 were $16,105.

Expenses. Within the John Hancock group of funds complex, expenses that are directly attributable to an individual fund are allocated to such fund. Expenses that are not readily attributable to a specific fund are allocated among all funds in an equitable manner, taking into consideration, among other things, the nature and type of expense and the fund's relative net

SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       57


assets. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

Class allocations. Income, common expenses and realized and unrealized gains (losses) are determined at the fund level and allocated daily to each class of shares based on the net assets of the class. Class-specific expenses, such as distribution and service fees, if any, and transfer agent fees, for all classes, are charged daily at the class level based on the net assets of each class and the specific expense rates applicable to each class.

Federal income taxes. The fund intends to continue to qualify as a regulated investment company by complying with the applicable provisions of the Internal Revenue Code and will not be subject to federal income tax on taxable income that is distributed to shareholders. Therefore, no federal income tax provision is required.

For federal income tax purposes, as of May 31, 2017, the fund has a short-term capital loss carryforward of $18,104,019 and a long-term capital loss carryforward of $21,103,377 available to offset future net realized capital gains. These carryforwards do not expire. Due to certain Internal Revenue Code rules, utilization of the capital loss carryforwards may be limited in future years.

As of May 31, 2017, the fund had no uncertain tax positions that would require financial statement recognition, derecognition or disclosure. The fund's federal tax returns are subject to examination by the Internal Revenue Service for a period of three years.

Distribution of income and gains. Distributions to shareholders from net investment income and net realized gains, if any, are recorded on the ex-date. The fund generally declares dividends daily and pays them monthly. Capital gain distributions, if any, are typically distributed annually.

Distributions paid by the fund with respect to each class of shares are calculated in the same manner, at the same time and in the same amount, except for the effect of class level expenses that may be applied differently to each class.

Such distributions, on a tax basis, are determined in conformity with income tax regulations, which may differ from US GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences, if any, will reverse in a subsequent period. Book-tax differences are primarily attributable to amortization and accretion on debt securities and merger related transactions.

Note 3 — Guarantees and indemnifications

Under the Trust's organizational documents, its Officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust, including the fund. Additionally, in the normal course of business, the fund enters into contracts with service providers that contain general indemnification clauses. The fund's maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the fund that have not yet occurred. The risk of material loss from such claims is considered remote.

Note 4 — Fees and transactions with affiliates

John Hancock Advisers, LLC (the Advisor) serves as investment advisor for the fund. John Hancock Funds, LLC (the Distributor), an affiliate of the Advisor, serves as principal underwriter of the fund. The Advisor and the Distributor are indirect, wholly owned subsidiaries of Manulife Financial Corporation (MFC).

Management fee. The fund has an investment management agreement with the Advisor under which the fund pays a daily management fee to the Advisor, equivalent on an annual basis, to the sum of: (a) 0.450% of the first $500 million of the fund's aggregate daily net assets, (b) 0.425% of the next $500 million of the fund's aggregate daily net assets, (c) 0.400% of the next $1 billion of the fund's aggregate daily net assets, (d) 0.350% of the next $500 million of the fund's aggregate daily net assets, (e) 0.300% of the fund's aggregate daily net assets in excess of $2.5 billion. Prior to October 1, 2017, the fund had an investment management agreement with the Advisor under which the fund paid a daily management fee to the Advisor, equivalent on an annual basis, to the sum of: (a) 0.500% of the first $500 million of the fund's aggregate daily net

SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       58


assets, (b) 0.475% of the next $500 million of the fund's aggregate daily net assets, (c) 0.450% of the next $500 million of the fund's aggregate daily net assets, (d) 0.450% of the next $500 million of the fund's aggregate daily net assets, (e) 0.400% of the next $500 million of the fund's aggregate daily net assets; and (f) 0.350% of the fund's aggregate daily net assets in excess of $2.5 billion. Aggregate net assets include the net assets of the fund and certain assets of Income Allocation Fund, a series of John Hancock Funds II, as defined in the advisory agreement. The Advisor has a subadvisory agreement with John Hancock Asset Management a division of Manulife Asset Management (US) LLC, an indirectly owned subsidiary of MFC and an affiliate of the Advisor. The fund is not responsible for payment of the subadvisory fees.

The Advisor has contractually agreed to waive a portion of its management fee and/or reimburse expenses for certain funds of the John Hancock group of funds complex, including the fund (the participating portfolios). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each fund. During the six months ended November 30, 2017, this waiver amounted to 0.01% of the fund's average net assets. This arrangement may be amended or terminated at any time by the Advisor upon notice to the fund and with the approval of the Board of Trustees.

Prior to October 1, 2017, the Advisor had contractually agreed to waive a portion of its management fee and/or reimburse or pay operating expenses of the fund in order to reduce the total annual fund operating expenses by 0.05% of the fund's average daily net assets. On October 1, 2017, the advisory agreement was reduced by 0.05% to replace this waiver.

Prior to October 1, 2017 the Advisor had contractually agreed to waive and/or reimburse all class-specific expenses for Class R6 shares of the fund to the extent they exceeded 0.00% of average net assets.

For the six months ended November 30, 2017, the expense reductions amounted to the following:

         
Class Expense reduction   Class Expense reduction
Class A $313,462   Class R4 $6,199
Class B 3,193   Class R6 189,794
Class C 62,008   Class NAV 401,300
Class I 1,180,596   Total $2,170,307
Class R2 13,755      

Expenses waived or reimbursed in the current fiscal period are not subject to recapture in future fiscal periods.

The investment management fees, including the impact of the waivers and reimbursements as described above, incurred for the six months ended November 30, 2017 were equivalent to a net annual effective rate of 0.32% of the fund's average daily net assets.

Accounting and legal services. Pursuant to a service agreement, the fund reimburses the Advisor for all expenses associated with providing the administrative, financial, legal, accounting and recordkeeping services to the fund, including the preparation of all tax returns, periodic reports to shareholders and regulatory reports, among other services. These expenses are allocated to each share class based on its relative net assets at the time the expense was incurred. These accounting and legal services fees incurred for the six months ended November 30, 2017 amounted to an annual rate of 0.02% of the fund's average daily net assets.

Distribution and service plans. The fund has a distribution agreement with the Distributor. The fund has adopted distribution and service plans with respect to Class A, Class B, Class C, Class R2 and Class R4 shares pursuant to Rule 12b-1 under the 1940 Act, to pay the Distributor for services provided as the distributor of shares of the fund. The fund may pay up

SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       59


to the following contractual rates of distribution and service fees under these arrangements, expressed as an annual percentage of average daily net assets for each class of the fund's shares:

             
Class Rule 12b-1 fee Service fee   Class Rule 12b-1 fee Service fee
Class A 0.30%   Class R2 0.25% 0.25%
Class B 1.00%   Class R4 0.25% 0.10%
Class C 1.00%      

The fund's Distributor has contractually agreed to waive 0.10% of Rule12b-1 fees for Class R4 shares. The current waiver agreement expires on September 30, 2018, unless renewed by mutual agreement of the fund and the Distributor based upon a determination that this is appropriate under the circumstances at the time. This contractual waiver amounted to $15,144 for Class R4 shares for the six months ended November 30, 2017.

Sales charges. Class A shares are assessed up-front sales charges, which resulted in payments to the Distributor amounting to $3,557,247 for the six months ended November 30, 2017. Of this amount, $490,404 was retained and used for printing prospectuses, advertising, sales literature and other purposes, $2,990,246 was paid as sales commissions to broker-dealers and $76,597 was paid as sales commissions to sales personnel of Signator Investors, Inc., a broker-dealer affiliate of the Advisor.

Class A, Class B and Class C shares may be subject to contingent deferred sales charges (CDSCs). Certain Class A shares that are acquired through purchases of $1 million or more and are redeemed within one year of purchase are subject to a 1.00% sales charge. Class B shares that are redeemed within six years of purchase are subject to CDSCs, at declining rates, beginning at 5.00%. Class C shares that are redeemed within one year of purchase are subject to a 1.00% CDSC. CDSCs are applied to the lesser of the current market value at the time of redemption or the original purchase cost of the shares being redeemed. Proceeds from CDSCs are used to compensate the Distributor for providing distribution-related services in connection with the sale of these shares. During the six months ended November 30, 2017, CDSCs received by the Distributor amounted to $6.833, $9,634 and $26,328 for Class A, Class B and Class C shares, respectively.

Transfer agent fees. The John Hancock Group of Funds has a complex-wide transfer agent agreement with John Hancock Signature Services, Inc. (Signature Services), an affiliate of the Advisor. The transfer agent fees paid to Signature Services are determined based on the cost to Signature Services (Signature Services Cost) of providing recordkeeping services. It also includes out-of-pocket expenses, including payments made to third-parties for recordkeeping services provided to their clients who invest in one or more John Hancock funds. In addition, Signature Services Cost may be reduced by certain fees that Signature Services receives in connection with retirement and small accounts. Signature Services Cost is calculated monthly and allocated, as applicable, to five categories of share classes: Retail Share and Institutional Share Classes of Non-Municipal Bond Funds, Class R6 Shares, Retirement Share Classes and Municipal Bond Share Classes. Within each of these categories, the applicable costs are allocated to the affected John Hancock affiliated funds and/or classes, based on the relative average daily net assets.

Class level expenses. Class level expenses for the six months ended November 30, 2017 were:

     
Class Distribution and service fees Transfer agent fees
Class A $2,270,613 $843,645
Class B 74,793 8,343
Class C 1,489,021 165,982
Class I 2,635,362
Class R2 164,312 4,126
Class R4 52,751 1,842
Class R6 109,934
Total $4,051,490 $3,769,234

SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       60


Trustee expenses. The fund compensates each Trustee who is not an employee of the Advisor or its affiliates. The costs of paying Trustee compensation and expenses are allocated to the fund based on its net assets relative to other funds within the John Hancock group of funds complex.

Note 5 — Fund share transactions

Transactions in fund shares for the six months ended November 30, 2017 and for the year ended May 31, 2017 were as follows:

                                                     
                 
              Six months ended  11-30-17                       Year ended  5-31-17  
        Shares     Amount                 Shares     Amount  
  Class A shares                                      
  Sold     11,286,679     $180,155,173                 34,092,817     $541,956,959  
  Distributions reinvested     1,384,549     22,090,017                 3,379,141     53,729,834  
  Repurchased     (9,560,426 )   (152,590,017 )               (64,381,575 )   (1,018,201,732 )
  Net increase (decrease)     3,110,802     $49,655,173                 (26,909,617 )   ($422,514,939 )
  Class B shares                                      
  Sold     9,116     $145,510                 52,907     $841,349  
  Distributions reinvested     10,283     164,057                 25,942     412,599  
  Repurchased     (190,235 )   (3,036,884 )               (481,926 )   (7,658,790 )
  Net decrease     (170,836 )   ($2,727,317 )               (403,077 )   ($6,404,842 )
  Class C shares                                      
  Sold     1,915,413     $30,581,326                 5,313,071     $84,561,671  
  Distributions reinvested     212,529     3,390,831                 441,776     7,023,679  
  Repurchased     (2,369,081 )   (37,816,141 )               (6,605,907 )   (104,723,743 )
  Net decrease     (241,139 )   ($3,843,984 )               (851,060 )   ($13,138,393 )
  Class I shares                                      
  Sold     97,996,985     $1,564,860,492                 287,716,488     $4,554,434,157  
  Distributions reinvested     5,034,683     80,372,931                 6,047,097     95,884,815  
  Repurchased     (310,470,391 )   (4,962,044,354 )               (42,354,138 )   (670,004,434 )
  Net increase (decrease)     (207,438,723 )   ($3,316,810,931 )               251,409,447     $3,980,314,538  
  Class R2 shares                                      
  Sold     1,750,046     $27,961,503                 1,694,679     $26,908,315  
  Distributions reinvested     57,163     913,127                 94,466     1,504,103  
  Repurchased     (803,573 )   (12,846,567 )               (1,813,840 )   (28,798,157 )
  Net increase (decrease)     1,003,636     $16,028,063                 (24,695 )   ($385,739 )
  Class R4 shares                                      
  Sold     239,038     $3,824,857                 1,944,292     $30,402,882  
  Distributions reinvested     30,613     489,033                 25,093     397,094  
  Repurchased     (130,946 )   (2,091,605 )               (149,518 )   (2,363,031 )
  Net increase     138,705     $2,222,285                 1,819,867     $28,436,945  
  Class R6 shares                                      
  Sold     300,977,713     $4,817,815,714                 7,249,897     $114,511,357  
  Issued in reorganization (Note 9)                         21,559,231     342,414,487  
  Distributions reinvested     1,919,815     30,631,480                 388,087     6,177,491  
  Repurchased     (6,588,252 )   (105,282,181 )               (3,497,257 )   (55,036,889 )
  Net increase     296,309,276     $4,743,165,013                 25,699,958     $408,066,446  

SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       61


                                                     
                 
              Six months ended  11-30-17                       Year ended  5-31-17  
        Shares     Amount                 Shares     Amount  
  Class NAV shares                                      
  Sold     17,059,899     $272,794,117                 1,517,213     $24,106,036  
  Issued in reorganization (Note 9)                         115,422,599     1,832,672,640  
  Distributions reinvested     2,150,320     34,350,099                 430,922     6,865,378  
  Repurchased     (4,001,016 )   (64,031,688 )               (700,907 )   (11,142,103 )
  Net increase     15,209,203     $243,112,528                 116,669,827     $1,852,501,951  
  Total net increase     107,920,924     $1,730,800,830                 367,410,650     $5,826,875,967  

Affiliates of the fund owned 100% of Class NAV shares on November 30, 2017. Such concentration of shareholders' capital could have a material effect on the fund if such shareholders redeem from the fund.

Note 6 — Purchase and sale of securities

Purchases and sales of securities, other than short-term securities and U.S. Treasury obligations, amounted to $3,093,053,876 and $1,611,664,478, respectively, for the six months ended November 30, 2017. Purchases and sales of U.S. Treasury obligations aggregated $2,530,551,617 and $2,073,507,002, respectively, for the six months ended November 30, 2017.

Note 7 — Investment by affiliated funds

Certain investors in the fund are affiliated funds that are managed by the Advisor and its affiliates. The affiliated funds do not invest in the fund for the purpose of exercising management or control; however, this investment may represent a significant portion of the fund's net assets. At November 30, 2017, funds within the John Hancock group of funds complex held 18.5% of the fund's net assets. The following affiliated fund owned 5% or more of the fund's net assets:

   
Fund Affiliated concentration
John Hancock Funds II Multimanager Lifestyle Balanced Portfolio 7.1%

Note 8 — Interfund trading

The fund is permitted to purchase or sell securities from or to certain other affiliated funds, as set forth in Rule 17a-7 of the 1940 Act, under specified conditions outlined in procedures adopted by the Board of Trustees of the Trust. The procedures have been designed to ensure that any purchase or sale of securities by the fund from or to another fund that is or could be considered an affiliate complies with Rule 17a-7 of the 1940 Act. Further, as defined under the procedures, each transaction is effected at the current market price. Pursuant to these procedures, for the six months ended November 30, 2017, the fund engaged in purchases amounting to $51,327,886.

Note 9 — Reorganization

On April 6, 2017, the shareholders of John Hancock Funds II Active Bond Fund (the Acquired Fund) voted to approve an Agreement and Plan of Reorganization (the Agreement) which provided for an exchange of shares of the John Hancock Bond Fund (the Acquiring Fund) with a value equal to the net assets transferred.

The Agreement provided for (a) the acquisition of all the assets, subject to all of the liabilities, of the Acquired Fund in exchange for shares of the Acquiring Fund with a value equal to the net assets transferred; (b) the liquidation of the Acquired Fund; and (c) the distribution to the Acquired Fund's shareholders of such Acquiring Fund's shares. The reorganization was intended to consolidate the Acquired Fund with a fund with a similar investment objective and achieve economies of scale. As a result of the reorganization, the Acquiring Fund is the legal and accounting survivor.

Based on the opinion of tax counsel, the reorganization qualified as a tax-free reorganization for federal income tax purposes with no gain or loss recognized by the Acquired Fund or its shareholders. Thus, the investments were transferred to

SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       62


the Acquiring Fund at the Acquired Fund's identified cost. All distributable amounts of net income and realized gains from the Acquired Fund were distributed prior to the reorganization. In addition, the expenses of the reorganization were borne by the Acquired Fund. The effective time of the reorganization occurred immediately after the close of regularly scheduled trading on the New York Stock Exchange (NYSE) on April 21, 2017. The following outlines the reorganization:

               
Acquiring
Fund
Acquired
Fund
Net asset
value of the
Acquired
Fund
Appreciation
of the
Acquired
Fund's
investment
Shares
redeemed
by the
Acquired
Fund
Shares
issued
by the
Acquiring
Fund
Acquiring
Fund
net assets
prior to
combination
Acquiring
Fund
total net
assets after
combination
JHF Bond Fund JHF II Active Bond Fund $2,175,087,127 $44,407,828 216,660,147 136,981,830 $7,008,919,409 $9,184,006,536

See Note 5 for capital shares issued in connection with the above referenced reorganizations.

SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       63


Continuation of Investment Advisory and Subadvisory Agreements


Evaluation of Advisory and Subadvisory Agreements by the Board of Trustees

This section describes the evaluation by the Board of Trustees (the Board) of John Hancock Sovereign Bond Fund (the Trust) of the Advisory Agreement (the Advisory Agreement) with John Hancock Advisers, LLC (the Advisor) and the Subadvisory Agreement (the Subadvisory Agreement) with John Hancock Asset Management a division of Manulife Asset Management (US) LLC (the Subadvisor), for John Hancock Bond Fund. The Advisory Agreement and Subadvisory Agreement are collectively referred to as the Agreements. Prior to the June 19-22, 2017 in-person meeting at which the Agreements were approved, the Board also discussed and considered information regarding the proposed continuation of the Agreements at an in-person meeting held on May 22-24, 2017.

Approval of Advisory and Subadvisory Agreements

At in-person meetings held on June 19-22, 2017, the Board, including the Trustees who are not parties to any Agreement or considered to be interested persons of the Trust under the Investment Company Act of 1940, as amended (the 1940 Act) (the Independent Trustees), reapproved for an annual period the continuation of the Advisory Agreement between the Trust and the Advisor and the Subadvisory Agreement between the Advisor and the Subadvisor with respect to the fund.

In considering the Advisory Agreement and the Subadvisory Agreement, the Board received in advance of the meetings a variety of materials relating to the fund, the Advisor and the Subadvisor, including comparative performance, fee and expense information for a peer group of similar funds prepared by an independent third-party provider of fund data, performance information for an applicable benchmark index; and, with respect to the Subadvisor, comparative performance information for comparably managed accounts, as applicable, and other information provided by the Advisor and the Subadvisor regarding the nature, extent and quality of services provided by the Advisor and the Subadvisor under their respective Agreements, as well as information regarding the Advisor's revenues and costs of providing services to the fund and any compensation paid to affiliates of the Advisor. At the meetings at which the renewal of the Advisory Agreement and Subadvisory Agreement are considered, particular focus is given to information concerning fund performance, comparability of fees and total expenses, and profitability. However, the Board notes that the evaluation process with respect to the Advisor and the Subadvisor is an ongoing one. In this regard, the Board also took into account discussions with management and information provided to the Board (including its various committees) at prior meetings with respect to the services provided by the Advisor and the Subadvisor to the fund, including quarterly performance reports prepared by management containing reviews of investment results and prior presentations from the Subadvisor with respect to the fund. The information received and considered by the Board in connection with the May and June meetings and throughout the year was both written and oral. The Board noted the affiliation of the Subadvisor with the Advisor, noting any potential conflicts of interest. The Board also considered the nature, quality, and extent of non-advisory services, if any, to be provided to the fund by the Advisor's affiliates, including distribution services. The Board considered the Advisory Agreement and Subadvisory Agreement separately in the course of its review. In doing so, the Board noted the respective roles of the Advisor and Subadvisor in providing services to the fund.

Throughout the process, the Board asked questions of and requested additional information from management. The Board is assisted by counsel for the Trust and the Independent Trustees are also separately assisted by independent legal counsel throughout the process. The Independent Trustees also received a memorandum from their independent legal counsel discussing the legal standards for their consideration of the proposed continuation of the Agreements and discussed the proposed continuation of the Agreements in private sessions with their independent legal counsel at which no representatives of management were present.

Approval of Advisory Agreement

In approving the Advisory Agreement with respect to the fund, the Board, including the Independent Trustees, considered a variety of factors, including those discussed below. The Board also considered other factors (including conditions and trends prevailing generally in the economy, the securities markets, and the industry) and did not treat any single factor as

SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       64


determinative, and each Trustee may have attributed different weights to different factors. The Board's conclusions may be based in part on its consideration of the advisory and subadvisory arrangements in prior years and on the Board's ongoing regular review of fund performance and operations throughout the year.

Nature, extent, and quality of services . Among the information received by the Board from the Advisor relating to the nature, extent, and quality of services provided to the fund, the Board reviewed information provided by the Advisor relating to its operations and personnel, descriptions of its organizational and management structure, and information regarding the Advisor's compliance and regulatory history, including its Form ADV. The Board also noted that on a regular basis it receives and reviews information from the Trust's Chief Compliance Officer (CCO) regarding the fund's compliance policies and procedures established pursuant to Rule 38a-1 under the 1940 Act. The Board observed that the scope of services provided by the Advisor, and of the undertakings required of the Advisor in connection with those services, including maintaining and monitoring its own and the fund's compliance programs, risk management programs, liquidity management programs and cybersecurity programs, had expanded over time as a result of regulatory, market and other developments. The Board considered that the Advisor is responsible for the management of the day-to-day operations of the fund, including, but not limited to, general supervision of and coordination of the services provided by the Subadvisor, and is also responsible for monitoring and reviewing the activities of the Subadvisor and third-party service providers. The Board also considered the significant risks assumed by the Advisor in connection with the services provided to the fund including entrepreneurial risk in sponsoring new funds and ongoing risks including investment, operational, enterprise, litigation, regulatory and compliance risk with respect to all funds.

In considering the nature, extent, and quality of the services provided by the Advisor, the Trustees also took into account their knowledge of the Advisor's management and the quality of the performance of the Advisor's duties, through Board meetings, discussions and reports during the preceding year and through each Trustee's experience as a Trustee of the Trust and of the other trusts in the John Hancock group of funds complex (the John Hancock Fund Complex).

In the course of their deliberations regarding the Advisory Agreement, the Board considered, among other things:

(a) the skills and competency with which the Advisor has in the past managed the Trust's affairs and its subadvisory relationship, the Advisor's oversight and monitoring of the Subadvisor's investment performance and compliance programs, such as the Subadvisor's compliance with fund policies and objectives, review of brokerage matters, including with respect to trade allocation and best execution and the Advisor's timeliness in responding to performance issues;
(b) the background, qualifications and skills of the Advisor's personnel;
(c) the Advisor's compliance policies and procedures and its responsiveness to regulatory changes and fund industry developments;
(d) the Advisor's administrative capabilities, including its ability to supervise the other service providers for the fund;
(e) the financial condition of the Advisor and whether it has the financial wherewithal to provide a high level and quality of services to the fund;
(f) the Advisor's intitiatives intended to improve various aspects of the Trust's operations and investor experience with the fund; and
(g) the Advisor's reputation and experience in serving as an investment advisor to the Trust and the benefit to shareholders of investing in funds that are part of a family of funds offering a variety of investments.

The Board concluded that the Advisor may reasonably be expected to continue to provide a high quality of services under the Advisory Agreement with respect to the fund.

Investment performance . In considering the fund's performance, the Board noted that it reviews at its regularly scheduled meetings information about the fund's performance results. In connection with the consideration of the Advisory Agreement, the Board:

SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       65


(a) reviewed information prepared by management regarding the fund's performance;
(b) considered the comparative performance of an applicable benchmark index;
(c) considered the performance of comparable funds, if any, as included in the report prepared by an independent third-party provider of fund data; and
(d) took into account the Advisor's analysis of the fund's performance and its plans and recommendations regarding the Trust's subadvisory arrangements generally.

The Board noted that while it found the data provided by the independent third-party generally useful it recognized its limitations, including in particular that the data may vary depending on the end date selected and the results of the performance comparisons may vary depending on the selection of the peer group. The Board noted that the fund outperformed its benchmark index and peer group average for the one-, three-, five- and ten-year periods ended December 31, 2016. The Board took into account management's discussion of the fund's performance, including the favorable performance relative to the benchmark index and peer group for the one-, three-, five- and ten-year periods. The Board concluded that the fund's performance has generally been in line with or generally outperformed the historical performance of comparable funds and the fund's benchmark index.

Fees and expenses . The Board reviewed comparative information prepared by an independent third-party provider of fund data, including, among other data, the fund's contractual and net management fees (and subadvisory fees, to the extent available) and total expenses as compared to similarly situated investment companies deemed to be comparable to the fund in light of the nature, extent and quality of the management and advisory and subadvisory services provided by the Advisor and the Subadvisor. The Board considered the fund's ranking within a smaller group of peer funds chosen by the independent third-party provider, as well as the fund's ranking within a broader group of funds. In comparing the fund's contractual and net management fees to those of comparable funds, the Board noted that such fees include both advisory and administrative costs. The Board noted that net management fees and net total expenses for the fund are higher than the peer group median.

The Board took into account management's discussion of the fund's expenses. The Board also took into account management's discussion with respect to the overall management fee, the fees of the Subadvisor, including the amount of the advisory fee retained by the Advisor after payment of the subadvisory fee, in each case in light of the services for those amounts and the risks undertaken by the Advisor. The Board also noted that the Advisor pays the subadvisory fee. In addition, the Board took into account that management had agreed to implement an overall fee waiver across the complex, which is discussed further below. The Board also noted actions taken over the past several years to reduce the fund's operating expenses. The Board also noted that, in addition, the Advisor is currently waiving fees and/or reimbursing expenses with respect to the fund and that the fund has breakpoints in its contractual management fee schedule that reduces management fees as assets increase. The Board reviewed information provided by the Advisor concerning the investment advisory fee charged by the Advisor or one of its advisory affiliates to other clients (including other funds in the John Hancock Fund Complex) having similar investment mandates, if any. The Board considered any differences between the Advisor's and Subadvisor's services to the fund and the services they provide to other comparable clients or funds. The Board concluded that the advisory fee paid with respect to the fund is reasonable in light of the nature, extent and quality of the services provided to the fund under the Advisory Agreement.

Profitability/Fall out benefits . In considering the costs of the services to be provided and the profits to be realized by the Advisor and its affiliates from the Advisor's relationship with the Trust, the Board:

(a) reviewed financial information of the Advisor;
(b) reviewed and considered information presented by the Advisor regarding the net profitability to the Advisor and its affiliates with respect to the fund;
(c) received and reviewed profitability information with respect to the John Hancock Fund Complex as a whole and with respect to the fund;
SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       66


(d) received information with respect to the Advisor's allocation methodologies used in preparing the profitability data and considered that the Advisor hired an independent third-party consultant to provide an analysis of the Advisor's allocation methodologies;
(e) considered that the John Hancock insurance companies that are affiliates of the Advisor, as shareholders of the Trust directly or through their separate accounts, receive certain tax credits or deductions relating to foreign taxes paid and dividends received by certain funds of the Trust and noted that these tax benefits, which are not available to participants in qualified retirement plans under applicable income tax law, are reflected in the profitability information reviewed by the Board;
(f) considered that the Advisor also provides administrative services to the fund on a cost basis pursuant to an administrative services agreement;
(g) noted that affiliates of the Advisor provide transfer agency services and distribution services to the fund, and that the fund's distributor also receives Rule 12b-1 payments to support distribution of the fund;
(h) noted that the fund's Subadvisor is an affiliate of the Advisor;
(i) noted that the Advisor also derives reputational and other indirect benefits from providing advisory services to the fund;
(j) noted that the subadvisory fee for the fund is paid by the Advisor;
(k) considered the Advisor's ongoing costs and expenditures necessary to improve services, meet new regulatory and compliance requirements, and adapt to other challenges impacting the fund industry; and
(l) considered that the Advisor should be entitled to earn a reasonable level of profits in exchange for the level of services it provides to the fund and the risks that it assumes as Advisor, including entrepreneurial, operational, reputational, litigation and regulatory risk.

Based upon its review, the Board concluded that the level of profitability, if any, of the Advisor and its affiliates from their relationship with the fund was reasonable and not excessive.

Economies of scale . In considering the extent to which economies of scale would be realized as the fund grows and whether fee levels reflect these economies of scale for the benefit of fund shareholders, the Board:

(a) considered that the Advisor has contractually agreed to waive a portion of its management fee for certain funds of the John Hancock Fund Complex, including the fund (the participating portfolios) or otherwise reimburse the expenses of the participating portfolios (the reimbursement). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each fund;
(b) reviewed the fund's advisory fee structure and concluded that: (i) the fund's fee structure contains breakpoints at the subadvisory fee level and that such breakpoints are reflected as breakpoints in the advisory fees for the fund; and (ii) although economies of scale cannot be measured with precision, these arrangements permit shareholders of the fund to benefit from economies of scale if the fund grows. The Board also took into account management's discussion of the fund's advisory fee structure; and
(c) the Board also considered the effect of the fund's growth in size on its performance and fees. The Board also noted that if the fund's assets increase over time, the fund may realize other economies of scale.

Approval of Subadvisory Agreement

In making its determination with respect to approval of the Subadvisory Agreement, the Board reviewed:

(1) information relating to the Subadvisor's business, including current subadvisory services to the Trust (and other funds in the John Hancock Fund Complex);
SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       67


(2) the historical and current performance of the fund and comparative performance information relating to an applicable benchmark index and comparable funds; and
(3) the subadvisory fee for the fund, including any breakpoints, and to the extent available, comparable fee information prepared by an independent third party provider of fund data.

Nature, extent, and quality of services . With respect to the services provided by the Subadvisor, the Board received information provided to the Board by the Subadvisor, including the Subadvisor's Form ADV, as well as took into account information presented throughout the past year. The Board considered the Subadvisor's current level of staffing and its overall resources, as well as received information relating to the Subadvisor's compensation program. The Board reviewed the Subadvisor's history and investment experience, as well as information regarding the qualifications, background, and responsibilities of the Subadvisor's investment and compliance personnel who provide services to the fund. The Board also considered, among other things, the Subadvisor's compliance program and any disciplinary history. The Board also considered the Subadvisor's risk assessment and monitoring process. The Board reviewed the Subadvisor's regulatory history, including whether it was involved in any regulatory actions or investigations as well as material litigation, and any settlements and amelioratory actions undertaken, as appropriate. The Board noted that the Advisor conducts regular, periodic reviews of the Subadvisor and its operations, including regarding investment processes and organizational and staffing matters. The Board also noted that the Trust's CCO and his staff conduct regular, periodic compliance reviews with the Subadvisor and present reports to the Independent Trustees regarding the same, which includes evaluating the regulatory compliance systems of the Subadvisor and procedures reasonably designed to assure compliance with the federal securities laws. The Board also took into account the financial condition of the Subadvisor.

The Board considered the Subadvisor's investment process and philosophy. The Board took into account that the Subadvisor's responsibilities include the development and maintenance of an investment program for the fund that is consistent with the fund's investment objective, the selection of investment securities and the placement of orders for the purchase and sale of such securities, as well as the implementation of compliance controls related to performance of these services. The Board also received information with respect to the Subadvisor's brokerage policies and practices, including with respect to best execution and soft dollars.

Subadvisor compensation . In considering the cost of services to be provided by the Subadvisor and the profitability to the Subadvisor of its relationship with the fund, the Board noted that the fees under the Subadvisory Agreement are paid by the Advisor and not the fund. The Board also received information and took into account any other potential conflicts of interest the Advisor might have in connection with the Subadvisory Agreement.

In addition, the Board considered other potential indirect benefits that the Subadvisor and its affiliates may receive from the Subadvisor's relationship with the fund, such as the opportunity to provide advisory services to additional funds in the John Hancock Fund Complex and reputational benefits.

Subadvisory fees . The Board considered that the fund pays an advisory fee to the Advisor and that, in turn, the Advisor pays a subadvisory fee to the Subadvisor. As noted above, the Board also considered the fund's subadvisory fees as compared to similarly situated investment companies deemed to be comparable to the fund as included in the report prepared by the independent third party provider of fund data, to the extent available. The Board noted that the limited size of the Lipper peer group was not sufficient for comparative purposes. The Board also took into account the subadvisory fees paid by the Advisor to the Subadvisor with respect to the fund and compared them to fees charged by the Subadvisor to manage other subadvised portfolios and portfolios not subject to regulation under the 1940 Act, as applicable.

Subadvisor performance . As noted above, the Board considered the fund's performance as compared to the fund's peer group and the benchmark index and noted that the Board reviews information about the fund's performance results at its regularly scheduled meetings. The Board noted the Advisor's expertise and resources in monitoring the performance, investment style and risk-adjusted performance of the Subadvisor. The Board was mindful of the Advisor's focus on the Subadvisor's performance. The Board also noted the Subadvisor's long-term performance record for similar accounts, as applicable.

SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       68


The Board's decision to approve the Subadvisory Agreement was based on a number of determinations, including the following:

(1) the Subadvisor has extensive experience and demonstrated skills as a manager;
(2) the performance of the fund has generally been in line with or generally outperformed the historical performance of comparable funds and the fund's benchmark index;
(3) the subadvisory fee is reasonable in relation to the level and quality of services being provided under the Subadvisory Agreement; and
(4) noted that the subadvisory fees are paid by the Advisor not the fund and that the subadvisory fee breakpoints are reflected as breakpoints in the advisory fees for the fund in order to permit shareholders to benefit from economies of scale if the fund grows.

* * *

Based on the Board's evaluation of all factors that the Board deemed to be material, including those factors described above, the Board, including the Independent Trustees, concluded that renewal of the Advisory Agreement and the Subadvisory Agreement would be in the best interest of the fund and its shareholders. Accordingly, the Board, and the Independent Trustees voting separately, approved the Advisory Agreement and Subadvisory Agreement for an additional one-year period.

SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       69


More information

   

Trustees

Hassell H. McClellan, Chairperson
Steven R. Pruchansky, Vice Chairperson
Andrew G. Arnott†#
Charles L. Bardelis*
James R. Boyle†
Peter S. Burgess*
William H. Cunningham
Grace K. Fey
Theron S. Hoffman*
Deborah C. Jackson
James M. Oates
Gregory A. Russo
Warren A. Thomson†

Officers

Andrew G. Arnott
President

John J. Danello
Senior Vice President, Secretary,
and Chief Legal Officer

Francis V. Knox, Jr.
Chief Compliance Officer

Charles A. Rizzo
Chief Financial Officer

Salvatore Schiavone
Treasurer

Investment advisor

John Hancock Advisers, LLC

Subadvisor

John Hancock Asset Management a division of Manulife Asset Management (US) LLC

Principal distributor

John Hancock Funds, LLC

Custodian

State Street Bank and Trust Company

Transfer agent

John Hancock Signature Services, Inc.

Legal counsel

K&L Gates LLP

*Member of the Audit Committee
†Non-Independent Trustee
#Effective 6-20-17

The fund's proxy voting policies and procedures, as well as the fund proxy voting record for the most recent twelve-month period ended June 30, are available free of charge on the Securities and Exchange Commission (SEC) website at sec.gov or on our website.

The fund's complete list of portfolio holdings, for the first and third fiscal quarters, is filed with the SEC on Form N-Q. The fund's Form N-Q is available on our website and the SEC's website, sec.gov, and can be reviewed and copied (for a fee) at the SEC's Public Reference Room in Washington, DC. Call 800-SEC-0330 to receive information on the operation of the SEC's Public Reference Room.

We make this information on your fund, as well as monthly portfolio holdings, and other fund details available on our website at jhinvestments.com or by calling 800-225-5291.

       
  You can also contact us:
  800-225-5291
jhinvestments.com

Regular mail:

John Hancock Signature Services, Inc.
P.O. Box 55913
Boston, MA 02205-5913

Express mail:

John Hancock Signature Services, Inc.
Suite 55913
30 Dan Road
Canton, MA 02021

SEMIANNUAL REPORT   |   JOHN HANCOCK BOND FUND       70


John Hancock family of funds

 

     

DOMESTIC EQUITY FUNDS



Balanced

Blue Chip Growth

Classic Value

Disciplined Value

Disciplined Value Mid Cap

Equity Income

Fundamental All Cap Core

Fundamental Large Cap Core

Fundamental Large Cap Value

New Opportunities

Small Cap Core

Small Cap Value

Small Company

Strategic Growth

U.S. Global Leaders Growth

U.S. Growth

Value Equity

GLOBAL AND INTERNATIONAL EQUITY FUNDS



Disciplined Value International

Emerging Markets

Emerging Markets Equity

Fundamental Global Franchise

Global Equity

Global Shareholder Yield

Greater China Opportunities

International Growth

International Small Company

International Value Equity

 

INCOME FUNDS



Bond

California Tax-Free Income

Emerging Markets Debt

Floating Rate Income

Global Income

Government Income

High Yield

High Yield Municipal Bond

Income

Investment Grade Bond

Money Market

Short Duration Credit Opportunities

Spectrum Income

Strategic Income Opportunities

Tax-Free Bond

ALTERNATIVE AND SPECIALTY FUNDS



Absolute Return Currency

Alternative Asset Allocation

Enduring Assets

Financial Industries

Global Absolute Return Strategies

Global Conservative Absolute Return

Global Focused Strategies

Natural Resources

Redwood

Regional Bank

Seaport

Technical Opportunities

A fund's investment objectives, risks, charges, and expenses should be considered carefully before investing. The prospectus contains this and other important information about the fund. To obtain a prospectus, contact your financial professional, call John Hancock Investments at 800-225-5291, or visit our website at jhinvestments.com. Please read the prospectus carefully before investing or sending money.


     

ASSET ALLOCATION



Income Allocation Fund

Multi-Index Lifetime Portfolios

Multi-Index Preservation Portfolios

Multimanager Lifestyle Portfolios

Multimanager Lifetime Portfolios

EXCHANGE-TRADED FUNDS



John Hancock Multifactor Consumer Discretionary ETF

John Hancock Multifactor Consumer Staples ETF

John Hancock Multifactor Developed International ETF

John Hancock Multifactor Energy ETF

John Hancock Multifactor Financials ETF

John Hancock Multifactor Healthcare ETF

John Hancock Multifactor Industrials ETF

John Hancock Multifactor Large Cap ETF

John Hancock Multifactor Materials ETF

John Hancock Multifactor Mid Cap ETF

John Hancock Multifactor Small Cap ETF

John Hancock Multifactor Technology ETF

John Hancock Multifactor Utilities ETF

 

ENVIRONMENTAL, SOCIAL, AND GOVERNANCE FUNDS



ESG All Cap Core

ESG Core Bond

ESG International Equity

ESG Large Cap Core

CLOSED-END FUNDS



Financial Opportunities

Hedged Equity & Income

Income Securities Trust

Investors Trust

Preferred Income

Preferred Income II

Preferred Income III

Premium Dividend

Tax-Advantaged Dividend Income

Tax-Advantaged Global Shareholder Yield

John Hancock Multifactor ETF shares are bought and sold at market price (not NAV), and are not individually redeemed
from the fund. Brokerage commissions will reduce returns.

John Hancock ETFs are distributed by Foreside Fund Services, LLC, and are subadvised by Dimensional Fund Advisors LP.
Foreside is not affiliated with John Hancock Funds, LLC or Dimensional Fund Advisors LP.

Dimensional Fund Advisors LP receives compensation from John Hancock in connection with licensing rights to the
John Hancock Dimensional indexes. Dimensional Fund Advisors LP does not sponsor, endorse, or sell, and makes no
representation as to the advisability of investing in, John Hancock Multifactor ETFs.


John Hancock Investments

A trusted brand

John Hancock Investments is a premier asset manager representing one of
America's most trusted brands, with a heritage of financial stewardship dating
back to 1862. Helping our shareholders pursue their financial goals is at the
core of everything we do. It's why we support the role of professional financial
advice and operate with the highest standards of conduct and integrity.

A better way to invest

We serve investors globally through a unique multimanager approach:
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising standards
and serve the best interests of our shareholders.

Results for investors

Our unique approach to asset management enables us to provide a diverse set
of investments backed by some of the world's best managers, along with strong
risk-adjusted returns across asset classes.

jhsocialmedialogo.jpg

     
 
jhbclogo.jpg
John Hancock Funds, LLC n Member FINRA, SIPC
601 Congress Street n Boston, MA 02210-2805
800-225-5291 n jhinvestments.com
  This report is for the information of the shareholders of John Hancock Bond Fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
  MF418650 21SA 11/17
1/18



ITEM 2. CODE OF ETHICS.

Not applicable at this time.

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

Not applicable at this time.

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

Not applicable at this time.

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.

Not applicable at this time.

ITEM 6. SCHEDULE OF INVESTMENTS.

Not applicable.

ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.

Not applicable.

ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

(a) The registrant has adopted procedures by which shareholders may recommend nominees to the registrant’s Board of Trustees. A copy of the procedures is filed as an exhibit to this Form N-CSR. See attached “John Hancock Funds – Nominating and Governance Committee Charter”.

ITEM 11. CONTROLS AND PROCEDURES.

(a) EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES. The registrant maintains disclosure controls and procedures that are designed to ensure that information required to be disclosed in this Form N-CSR is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the Securities and Exchange Commission. Such disclosure and procedures include controls and procedures designed to ensure that such information is accumulated and communicated to the registrant’s management, including its principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure.

Within 90 days prior to the filing date of this Form N-CSR, the registrant had carried out an evaluation, under the supervision and with the participation of the registrant’s management, including the registrant’s principal executive officer and the registrant’s principal financial officer, of the effectiveness of the design and operation of the registrant’s disclosure controls and




procedures relating to information required to be disclosed on Form N-CSR. Based on such evaluation, the registrant’s principal executive officer and principal financial officer concluded that the registrant’s disclosure controls and procedures are operating effectively to ensure that:

(i) information required to be disclosed in this Form N-CSR is recorded, processed, summarized and reported within the periods specified in the rules and forms of the Securities and Exchange Commission, and
(ii) information is accumulated and communicated to the registrant’s management, including its principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure.

(b) CHANGE IN REGISTRANT’S INTERNAL CONTROL: Not applicable.

ITEM 12. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 13. EXHIBITS.

(a)(1) Separate certifications for the registrant's principal executive officer and principal financial officer, as required by Section 302 of the Sarbanes-Oxley Act of 2002 and Rule 30a-2(a) under the Investment Company Act of 1940, are attached.

(b)(1) Separate certifications for the registrant's principal executive officer and principal financial officer, as required by 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, and Rule 30a-2(b) under the Investment Company Act of 1940, are attached. The certifications furnished pursuant to this paragraph are not deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that section. Such certifications are not deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except to the extent that the Registrant specifically incorporates them by reference.

(c)(1) Submission of Matters to a Vote of Security Holders is attached. See attached “John Hancock Funds – Nominating and Governance Committee Charter”.




SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

John Hancock Sovereign Bond Fund
 
By:       /s/ Andrew Arnott                      
Andrew Arnott
President
 
Date:

January 17, 2018

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:       /s/ Andrew Arnott                      
Andrew Arnott
President
 
Date:

January 17, 2018



By:       /s/ Charles A. Rizzo                      
Charles A. Rizzo
Chief Financial Officer
 
Date:

January 17, 2018