# EDGAR Filing Document

**Accession Number:** 0001331971
**File Stem:** 0001133228-22-008083
**Filing Date:** 2023-1
**Character Count:** 37208
**Document Hash:** 1966e3ac57cf0620f57c7047f05c0556
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001133228-22-008083.hdr.sgml**: 20230103

**ACCESSION NUMBER**: 0001133228-22-008083

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 7

**FILED AS OF DATE**: 20230103

**DATE AS OF CHANGE**: 20221230

**EFFECTIVENESS DATE**: 20230103

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** John Hancock Funds II
- **CENTRAL INDEX KEY:** 0001331971
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-126293
- **FILM NUMBER:** 221502693

**BUSINESS ADDRESS:**
- **STREET 1:** C/O JOHN HANCOCK FUNDS
- **STREET 2:** 200 BERKELEY STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02116
- **BUSINESS PHONE:** 617-663-2166

**MAIL ADDRESS:**
- **STREET 1:** C/O JOHN HANCOCK FUNDS
- **STREET 2:** 200 BERKELEY STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02116

## Series and Classes Contracts Data

### Multi-Index Lifestyle Aggressive Portfolio (Series ID: S000043433)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000134635 | Class A      | JABQX           |

Prospectus Supplement

**John Hancock Funds II**

**John Hancock Multi-Index Lifestyle Portfolios**

**John Hancock Multi-Index Lifetime Portfolios**

**John Hancock Multi-Index Preservation Portfolios (collectively, the Portfolios)**

**Supplement dated January 1, 2023 to the current summary prospectus of each of the Portfolios, as may be supplemented (the Summary Prospectus)**

The following information supplements and supersedes any information to the contrary relating to the Portfolios contained in the current Summary Prospectus.

As of February 1, 2023 (the Effective Date), the Portfolios will be changing their names as set forth in the table below:

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Portfolio Suite** | &nbsp;&nbsp;**Current Portfolio Name** | &nbsp;&nbsp;**New Portfolio Name as of the Effective Date and as Reflected in the Current Prospectus** |
| &nbsp;&nbsp;John Hancock Multi-Index Lifestyle Portfolios | &nbsp;&nbsp;Multi-Index Lifestyle Aggressive Portfolio | &nbsp;&nbsp;Lifestyle Blend Aggressive Portfolio |
| &nbsp;&nbsp;John Hancock Multi-Index Lifestyle Portfolios | &nbsp;&nbsp;Multi-Index Lifestyle Balanced Portfolio | &nbsp;&nbsp;Lifestyle Blend Balanced Portfolio |
| &nbsp;&nbsp;John Hancock Multi-Index Lifestyle Portfolios | &nbsp;&nbsp;Multi-Index Lifestyle Conservative Portfolio | &nbsp;&nbsp;Lifestyle Blend Conservative Portfolio |
| &nbsp;&nbsp;John Hancock Multi-Index Lifestyle Portfolios | &nbsp;&nbsp;Multi-Index Lifestyle Growth Portfolio | &nbsp;&nbsp;Lifestyle Blend Growth Portfolio |
| &nbsp;&nbsp;John Hancock Multi-Index Lifestyle Portfolios | &nbsp;&nbsp;Multi-Index Lifestyle Moderate Portfolio | &nbsp;&nbsp;Lifestyle Blend Moderate Portfolio |
| &nbsp;&nbsp;John Hancock Multi-Index Lifetime Portfolios | &nbsp;&nbsp;Multi-Index 2065 Lifetime Portfolio | &nbsp;&nbsp;2065 Lifetime Blend Portfolio |
| &nbsp;&nbsp;John Hancock Multi-Index Lifetime Portfolios | &nbsp;&nbsp;Multi-Index 2060 Lifetime Portfolio | &nbsp;&nbsp;2060 Lifetime Blend Portfolio |
| &nbsp;&nbsp;John Hancock Multi-Index Lifetime Portfolios | &nbsp;&nbsp;Multi-Index 2055 Lifetime Portfolio | &nbsp;&nbsp;2055 Lifetime Blend Portfolio |
| &nbsp;&nbsp;John Hancock Multi-Index Lifetime Portfolios | &nbsp;&nbsp;Multi-Index 2050 Lifetime Portfolio | &nbsp;&nbsp;2050 Lifetime Blend Portfolio |
| &nbsp;&nbsp;John Hancock Multi-Index Lifetime Portfolios | &nbsp;&nbsp;Multi-Index 2045 Lifetime Portfolio | &nbsp;&nbsp;2045 Lifetime Blend Portfolio |
| &nbsp;&nbsp;John Hancock Multi-Index Lifetime Portfolios | &nbsp;&nbsp;Multi-Index 2040 Lifetime Portfolio | &nbsp;&nbsp;2040 Lifetime Blend Portfolio |
| &nbsp;&nbsp;John Hancock Multi-Index Lifetime Portfolios | &nbsp;&nbsp;Multi-Index 2035 Lifetime Portfolio | &nbsp;&nbsp;2035 Lifetime Blend Portfolio |
| &nbsp;&nbsp;John Hancock Multi-Index Lifetime Portfolios | &nbsp;&nbsp;Multi-Index 2030 Lifetime Portfolio | &nbsp;&nbsp;2030 Lifetime Blend Portfolio |
| &nbsp;&nbsp;John Hancock Multi-Index Lifetime Portfolios | &nbsp;&nbsp;Multi-Index 2025 Lifetime Portfolio | &nbsp;&nbsp;2025 Lifetime Blend Portfolio |
| &nbsp;&nbsp;John Hancock Multi-Index Lifetime Portfolios | &nbsp;&nbsp;Multi-Index 2020 Lifetime Portfolio | &nbsp;&nbsp;2020 Lifetime Blend Portfolio |
|  | &nbsp;&nbsp;Multi-Index 2015 Lifetime Portfolio | &nbsp;&nbsp;2015 Lifetime Blend Portfolio |
|  | &nbsp;&nbsp;Multi-Index 2010 Lifetime Portfolio | &nbsp;&nbsp;2010 Lifetime Blend Portfolio |
| &nbsp;&nbsp;John Hancock Multi-Index Preservation Portfolios | &nbsp;&nbsp;Multi-Index 2065 Preservation Portfolio | &nbsp;&nbsp;2065 Preservation Blend Portfolio |
| &nbsp;&nbsp;John Hancock Multi-Index Preservation Portfolios | &nbsp;&nbsp;Multi-Index 2060 Preservation Portfolio | &nbsp;&nbsp;2060 Preservation Blend Portfolio |
| &nbsp;&nbsp;John Hancock Multi-Index Preservation Portfolios | &nbsp;&nbsp;Multi-Index 2055 Preservation Portfolio | &nbsp;&nbsp;2055 Preservation Blend Portfolio |
| &nbsp;&nbsp;John Hancock Multi-Index Preservation Portfolios | &nbsp;&nbsp;Multi-Index 2050 Preservation Portfolio | &nbsp;&nbsp;2050 Preservation Blend Portfolio |
| &nbsp;&nbsp;John Hancock Multi-Index Preservation Portfolios | &nbsp;&nbsp;Multi-Index 2045 Preservation Portfolio | &nbsp;&nbsp;2045 Preservation Blend Portfolio |
| &nbsp;&nbsp;John Hancock Multi-Index Preservation Portfolios | &nbsp;&nbsp;Multi-Index 2040 Preservation Portfolio | &nbsp;&nbsp;2040 Preservation Blend Portfolio |
| &nbsp;&nbsp;John Hancock Multi-Index Preservation Portfolios | &nbsp;&nbsp;Multi-Index 2035 Preservation Portfolio | &nbsp;&nbsp;2035 Preservation Blend Portfolio |
| &nbsp;&nbsp;John Hancock Multi-Index Preservation Portfolios | &nbsp;&nbsp;Multi-Index 2030 Preservation Portfolio | &nbsp;&nbsp;2030 Preservation Blend Portfolio |
| &nbsp;&nbsp;John Hancock Multi-Index Preservation Portfolios | &nbsp;&nbsp;Multi-Index 2025 Preservation Portfolio | &nbsp;&nbsp;2025 Preservation Blend Portfolio |
| &nbsp;&nbsp;John Hancock Multi-Index Preservation Portfolios | &nbsp;&nbsp;Multi-Index Income Preservation Portfolio | &nbsp;&nbsp;Income Preservation Blend Portfolio |

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Accordingly, as of the Effective Date, all references to the current portfolio names will be changed to reflect the new portfolio names as set forth in the table above.

*You should read this Supplement in conjunction with the Summary Prospectus and retain it for your future reference.*

 

 

Manulife, Manulife Investment Management, Stylized M Design, and Manulife Investment Management & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and are used by its affiliates under license.

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| | |
|:---|:---|
| ![](su6329img004.jpg) | **January 1, 2023**<br>|
| **Summary prospectus**<br>John Hancock Lifestyle Blend Aggressive Portfolio | **Summary prospectus**<br>John Hancock Lifestyle Blend Aggressive Portfolio |

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Before you invest, you may want to review the fund's prospectus, which contains more information about the fund and its risks. You can find the fund's prospectus and other information about the fund, including the Statement of Additional Information and most recent reports, online at www.jhinvestments.com/prospectuses. You can also get this information at no cost by calling 800-225-5291 or by sending an email request to info@jhinvestments.com. The fund's [prospectus and Statement of Additional Information](https://www.sec.gov/ix?doc=/Archives/edgar/data/1331971/000113322822007869/jhfii-html5668_485bpos.htm), both dated 1/1/23, as may be supplemented, and most recent [financial highlights](https://www.sec.gov/Archives/edgar/data/1331971/000168386322006751/f12710d1.htm) information included in the shareholder report, dated 8/31/22, are incorporated by reference into this summary prospectus.

**Tickers**

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A: JABQX<br>

**Investment objective**

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To seek long-term growth of capital. Current income is not a consideration.

**Fees and expenses**

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This table describes the fees and expenses you may pay if you buy, hold, and sell shares of the fund. **You may pay other fees, such as brokerage** **commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.** You may qualify for sales charge discounts on Class A shares if you and your family invest, or agree to invest in the future, at least $50,000 in the John Hancock family of funds. Intermediaries may have different policies and procedures regarding the availability of front-end sales charge waivers or contingent deferred sales charge (CDSC) waivers (See Appendix 1 - Intermediary sales charge waivers, which includes information about specific sales charge waivers applicable to the intermediaries identified therein). More information about these and other discounts is available from your financial professional and on pages 62 to 64 of the prospectus under "Sales charge reductions and waivers" or pages 161 to 166 of the fund's Statement of Additional Information under "Sales Charges on Class A and Class C Shares."

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| | |
|:---|:---|
| **Shareholder fees (%)** (fees paid directly from your investment) | **A** |
| Maximum front-end sales charge (load) on purchases, as a % of purchase price | 5.00 |
| Maximum deferred sales charge (load) as a % of purchase or sale price, whichever is less | 1.00<br>(on certain purchases, including those of $1 million or more) |
| Small account fee (for fund account balances under $1,000) ($) | 20 |

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| | |
|:---|:---|
| **Annual fund operating expenses (%)** (expenses that you pay each year as a percentage of the value of your investment) | **A**<br>|
| Management fee | 0.22<br>|
| Distribution and service (Rule 12b-1) fees | 0.30<br>|
| Other expenses | 0.16<br>|
| Acquired fund fees and expenses<sup>1</sup> | 0.35<br>|
| **Total annual fund operating expenses<sup>2</sup>** | **1.03**<br>|

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| | |
|:---|:---|
| **1** | "Acquired fund fees and expenses" are based on indirect net expenses associated with the fund's investments in underlying investment companies. |

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| | |
|:---|:---|
| **2** | The "Total annual fund operating expenses" shown may not correlate to the fund's ratios of expenses to average daily net assets shown in the "Financial highlights" section of the fund's prospectus, which does not include "Acquired fund fees and expenses." |

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**Expense example**

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This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. Please see below a hypothetical example showing the expenses of a $10,000 investment for the time periods indicated and then assuming you sell all of your shares at the end of those periods. The example assumes a 5% average annual return and that fund expenses will not change over the periods. Although your actual costs may be higher or lower, based on these assumptions, your costs would be:

![](su6329img003.jpg)

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John Hancock Lifestyle Blend Aggressive Portfolio

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| | |
|:---|:---|
| **Expenses ($)** | **A** |
| 1 year | 600 |
| 3 years | 811 |
| 5 years | 1040 |
| 10 years | 1696 |

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**Portfolio turnover**

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The fund, which operates as a fund of funds and invests in underlying funds, does not pay transaction costs, such as commissions, when it buys and sells shares of underlying funds (or "turns over" its portfolio). An underlying fund does pay transaction costs when it turns over its portfolio, and a higher portfolio turnover rate may indicate higher transaction costs. A higher portfolio turnover rate may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the performance of the underlying funds and of the fund. During its most recent fiscal year, the fund's portfolio turnover rate was 91% of the average value of its portfolio.

**Principal investment strategies**

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The fund operates as a fund of funds and, except as otherwise described below, normally invests approximately 95% of its assets in underlying funds that invest primarily in equity securities and 5% of its assets in underlying funds that invest primarily in fixed-income securities. Underlying funds may be affiliated or unaffiliated and may include exchange-traded funds (ETFs).

Variations in the target percentage allocation between underlying funds that invest primarily in equity securities are permitted to increase up to 5% and decrease up to 10% and underlying funds that invest primarily in fixed-income securities are permitted to increase up to 10% and decrease up to 5%. Thus, based on its target percentage allocation of approximately 95% of assets in equity underlying funds and 5% of its assets in fixed-income underlying funds, the fund may have an equity/fixed-income underlying fund allocation ranging between 100%/0 and 85%/15%. Although variations beyond the 5% or 10% range are generally not permitted, the manager may determine, in light of market or economic conditions, that the normal percentage limitations should be exceeded to protect the fund or to achieve its goal. There is no limit on the range of maturities and credit quality of securities in which the fund and underlying funds may invest. Certain of the underlying funds in which the fund invests focus their investment strategy on fixed-income securities, which may include investment-grade and below-investment-grade debt securities with maturities that range from short to longer term. The fixed-income underlying funds collectively hold various types of debt instruments, such as corporate bonds and mortgage-backed, government-issued, domestic, and international securities.

The fund may invest in various passively managed underlying funds (commonly known as index funds) that, as a group, hold a wide range of equity-type securities.

The fund may also invest in various actively managed underlying funds. The fund is not designed to track an index or group of indexes. Equity-type securities include small-, mid-, and large-capitalization stocks, domestic and foreign securities (including emerging-market securities), and sector holdings. Each of the underlying funds has its own investment strategy that, for example, may focus on growth stocks, value stocks, or a combination of growth and income stocks. Underlying funds may invest in derivatives such as options on securities and futures contracts.

The fund may also invest in derivatives such as credit default swaps, options on equity index futures, interest-rate swaps, and foreign currency forward contracts, as well as in exchange-traded notes (ETNs). The fund may also purchase futures contracts for cash management purposes and to gain investment exposure pending investments. The fund is also authorized to use various other investment strategies such as investing directly in fixed-income and equity securities, including U.S. government securities, mortgage-backed and asset-backed securities, closed-end funds, and partnerships. The fund may also short-sell securities.

The investment performance of each fund will reflect both its managers' allocation decisions with respect to the underlying funds and the investment decisions made by the underlying funds' managers.

**Principal risks**

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An investment in the fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Many factors affect performance, and fund shares will fluctuate in price, meaning you could lose money. The fund's investment strategy may not produce the intended results.

During periods of heightened market volatility or reduced liquidity, governments, their agencies, or other regulatory bodies, both within the United States and abroad, may take steps to intervene. These actions, which could include legislative, regulatory, or economic initiatives, might have unforeseeable consequences and could adversely affect the fund's performance or otherwise constrain the fund's ability to achieve its investment objective.

Because this fund has a greater exposure to underlying funds that invest primarily in equity securities than John Hancock Lifestyle Blend Portfolios with greater target allocations to underlying funds that invest primarily in fixed-income securities, equity security risks are more prevalent in this fund

**2**

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John Hancock Lifestyle Blend Aggressive Portfolio

than in other John Hancock Lifestyle Blend Portfolios. The fund's main risks are listed below in alphabetical order, not in order of importance. *Before investing, be sure to read the additional descriptions of these risks beginning on page 33 of the prospectus.*

*Principal risks of investing in the fund of funds*

**Commodity risk.** Commodity prices may be volatile due to fluctuating demand, supply disruption, speculation, and other factors. Certain commodity investments may have no active trading market at times.

**Credit and counterparty risk.** The issuer or guarantor of a fixed-income security, the counterparty to an over-the-counter derivatives contract, or a borrower of fund securities may not make timely payments or otherwise honor its obligations. U.S. government securities are subject to varying degrees of credit risk depending upon the nature of their support. A downgrade or default affecting any of the fund's securities could affect the fund's performance.

**Economic and market events risk.** Events in the U.S. and global financial markets, including actions taken by the U.S. Federal Reserve or foreign central banks to stimulate or stabilize economic growth, may at times result in unusually high market volatility, which could negatively impact performance. Reduced liquidity in credit and fixed-income markets could adversely affect issuers worldwide. Banks and financial services companies could suffer losses if interest rates rise or economic conditions deteriorate.

**Equity securities risk.** The price of equity securities may decline due to changes in a company's financial condition or overall market conditions.

**Exchange-traded funds (ETFs) risk.** The risks of owning shares of an ETF include the risks of owning the underlying securities the ETF holds. Lack of liquidity in an ETF could result in the ETF being more volatile than its underlying securities. An ETF's shares could trade at a significant premium or discount to its net asset value (NAV). A fund bears ETF fees and expenses indirectly.

**Exchange-traded notes (ETNs) risk.** An ETN generally reflects the risks associated with the assets composing the underlying market benchmark or strategy it is designed to track. ETNs also are subject to issuer and fixed-income risks.

**Fixed-income securities risk.** A rise in interest rates typically causes bond prices to fall. The longer the average maturity or duration of the bonds held by a fund, the more sensitive it will likely be to interest-rate fluctuations. An issuer may not make all interest payments or repay all or any of the principal borrowed. Changes in a security's credit quality may adversely affect fund performance.

**Fund of funds risk.** The fund's ability to achieve its investment objective will depend largely, in part, on: (i) the underlying funds' performance, expenses and ability to meet their investment objectives; and (ii) properly rebalancing assets among underlying funds and different asset classes. The fund is also subject to risks related to: (i) layering of fees of the underlying funds; and (ii) conflicts of interest associated with the subadvisor's ability to allocate fund assets without limit to other funds it advises and/or other funds advised by affiliated subadvisors. There is no assurance that either the fund or the underlying funds will achieve their investment objectives. A fund bears underlying fund fees and expenses indirectly.

**Hedging, derivatives, and other strategic transactions risk.** Hedging, derivatives, and other strategic transactions may increase a fund's volatility and could produce disproportionate losses, potentially more than the fund's principal investment. Risks of these transactions are different from and possibly greater than risks of investing directly in securities and other traditional instruments. Under certain market conditions, derivatives could become harder to value or sell and may become subject to liquidity risk (i.e., the inability to enter into closing transactions). Derivatives and other strategic transactions that a fund may utilize include: credit default swaps, foreign currency forward contracts, futures contracts, interest-rate swaps, and options. Foreign currency forward contracts, futures contracts, options, and swaps generally are subject to counterparty risk. In addition, swaps may be subject to interest-rate and settlement risk, and the risk of default of the underlying reference obligation. Derivatives associated with foreign currency transactions are subject to currency risk.

**Illiquid and restricted securities risk.** Illiquid and restricted securities may be difficult to value and may involve greater risks than liquid securities. Illiquidity may have an adverse impact on a particular security's market price and the fund's ability to sell the security.

**Investment company securities risk.** The fund may invest in securities of other investment companies. Fund shareholders indirectly bear their proportionate share of the expenses of each such investment company. The total return on such investments will be reduced by the operating expenses and fees of such other investment companies, including advisory fees.

**Mortgage-backed and asset-backed securities risk.** Mortgage-backed and asset-backed securities are subject to different combinations of prepayment, extension, interest-rate, and other market risks. Factors that impact the value of these securities include interest rate changes, the reliability of available information, credit quality or enhancement, and market perception.

**Operational and cybersecurity risk.** Cybersecurity breaches may allow an unauthorized party to gain access to fund assets, customer data, or proprietary information, or cause a fund or its service providers to suffer data corruption or lose operational functionality. Similar incidents affecting issuers of a fund's securities may negatively impact performance. Operational risk may arise from human error, error by third parties, communication errors, or technology failures, among other causes.

**Short sales risk.** Short sales involve costs and risk. A fund must pay the lender interest on a security it borrows, and the fund will lose money if the price of the borrowed security increases between the time of the short sale and the date when the fund replaces the borrowed security.

**3**

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John Hancock Lifestyle Blend Aggressive Portfolio

*Principal risks of investing in the underlying funds*

**Commodity risk.** Commodity prices may be volatile due to fluctuating demand, supply disruption, speculation, and other factors. Certain commodity investments may have no active trading market at times.

**Credit and counterparty risk.** The issuer or guarantor of a fixed-income security, the counterparty to an over-the-counter derivatives contract, or a borrower of fund securities may not make timely payments or otherwise honor its obligations. U.S. government securities are subject to varying degrees of credit risk depending upon the nature of their support. A downgrade or default affecting any of the fund's securities could affect the fund's performance.

**Economic and market events risk.** Events in the U.S. and global financial markets, including actions taken by the U.S. Federal Reserve or foreign central banks to stimulate or stabilize economic growth, may at times result in unusually high market volatility, which could negatively impact performance. Reduced liquidity in credit and fixed-income markets could adversely affect issuers worldwide. Banks and financial services companies could suffer losses if interest rates rise or economic conditions deteriorate.

**Equity securities risk.** The price of equity securities may decline due to changes in a company's financial condition or overall market conditions. Growth company securities may fluctuate more in price than other securities because of the greater emphasis on earnings expectations. Securities the manager believes are undervalued may never realize their full potential value, and in certain markets value stocks may underperform the market as a whole.

**Fixed-income securities risk.** A rise in interest rates typically causes bond prices to fall. The longer the average maturity or duration of the bonds held by a fund, the more sensitive it will likely be to interest-rate fluctuations. An issuer may not make all interest payments or repay all or any of the principal borrowed. Changes in a security's credit quality may adversely affect fund performance.

**Foreign securities risk.** Less information may be publicly available regarding foreign issuers, including foreign government issuers. Foreign securities may be subject to foreign taxes and may be more volatile than U.S. securities. Currency fluctuations and political and economic developments may adversely impact the value of foreign securities. The risks of investing in foreign securities are magnified in emerging markets. If applicable, depositary receipts are subject to most of the risks associated with investing in foreign securities directly because the value of a depositary receipt is dependent upon the market price of the underlying foreign equity security. Depositary receipts are also subject to liquidity risk.

**Hedging, derivatives, and other strategic transactions risk.** Hedging, derivatives, and other strategic transactions may increase a fund's volatility and could produce disproportionate losses, potentially more than the fund's principal investment. Risks of these transactions are different from and possibly greater than risks of investing directly in securities and other traditional instruments. Under certain market conditions, derivatives could become harder to value or sell and may become subject to liquidity risk (i.e., the inability to enter into closing transactions). Derivatives and other strategic transactions that a fund may utilize include: credit default swaps, foreign currency forward contracts, futures contracts, interest-rate swaps, and options. Foreign currency forward contracts, futures contracts, options, and swaps generally are subject to counterparty risk. In addition, swaps may be subject to interest-rate and settlement risk, and the risk of default of the underlying reference obligation. Derivatives associated with foreign currency transactions are subject to currency risk.

**Inflation-protected securities risk**. Increases in real interest rates generally cause the price of inflation-protected debt securities to decrease.

**Initial public offerings (IPOs) risk.** IPO share prices are frequently volatile and may significantly impact fund performance.

**Large company risk.** Larger companies may grow more slowly than smaller companies or be slower to respond to business developments. Large-capitalization securities may underperform the market as a whole.

**Liquidity risk.** The extent (if at all) to which a security may be sold or a derivative position closed without negatively impacting its market value may be impaired by reduced market activity or participation, legal restrictions, or other economic and market impediments. Liquidity risk may be magnified in rising interest rate environments due to higher than normal redemption rates. Widespread selling of fixed-income securities to satisfy redemptions during periods of reduced demand may adversely impact the price or salability of such securities. Periods of heavy redemption could cause the fund to sell assets at a loss or depressed value, which could negatively affect performance. Redemption risk is heightened during periods of declining or illiquid markets.

**Lower-rated and high-yield fixed-income securities risk.** Lower-rated and high-yield fixed-income securities (junk bonds) are subject to greater credit quality risk, risk of default, and price volatility than higher-rated fixed-income securities, may be considered speculative, and can be difficult to resell.

**Mortgage-backed and asset-backed securities risk.** Mortgage-backed and asset-backed securities are subject to different combinations of prepayment, extension, interest-rate, and other market risks. Factors that impact the value of these securities include interest rate changes, the reliability of available information, credit quality or enhancement, and market perception.

**Non-diversified risk.** Adverse events affecting a particular issuer or group of issuers may magnify losses for non-diversified funds, which may invest a large portion of assets in any one issuer or a small number of issuers.

**4**

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John Hancock Lifestyle Blend Aggressive Portfolio

**Operational and cybersecurity risk.** Cybersecurity breaches may allow an unauthorized party to gain access to fund assets, customer data, or proprietary information, or cause a fund or its service providers to suffer data corruption or lose operational functionality. Similar incidents affecting issuers of a fund's securities may negatively impact performance. Operational risk may arise from human error, error by third parties, communication errors, or technology failures, among other causes.

**Preferred and convertible securities risk.** Preferred stock dividends are payable only if declared by the issuer's board. Preferred stock may be subject to redemption provisions. The market values of convertible securities tend to fall as interest rates rise and rise as interest rates fall. Convertible preferred stock's value can depend heavily upon the underlying common stock's value.

**Sector risk.** When a fund focuses its investments in certain sectors of the economy, its performance may be driven largely by sector performance and could fluctuate more widely than if the fund were invested more evenly across sectors.

**Small and mid-sized company risk.** Small and mid-sized companies are generally less established and may be more volatile than larger companies. Small and/or mid-capitalization securities may underperform the market as a whole.

**Past performance**

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The following information illustrates the variability of the fund's returns and provides some indication of the risks of investing in the fund by showing changes in the fund's performance from year to year and by showing how the fund's average annual returns compared with a broad-based market index. Past performance (before and after taxes) does not indicate future results. The fund's custom blended benchmark (the "John Hancock Lifestyle Aggressive Index") comprises 44.1% of the S&P 500 Index, 16.2% of the MSCI World ex-USA Index, 18.9% of the Russell 2500 Index, 10.8% of the MSCI Emerging Markets Index, 5.0% of the John Hancock Real Asset Blended Index, 0.5% of the ICE BofA U.S. High Yield Index, 0.5% of the JPMorgan EMBI Global Index, and 4.0% of the ICE BofA Long U.S. STRIPS Index, and shows how the fund's performance compares against the returns of similar investments. All figures assume dividend reinvestment. Performance information is updated daily, monthly, and quarterly and may be obtained at our website, jhinvestments.com, or by calling 800-225-5291, Monday to Thursday, 8:00 A.M.—7:00 P.M., and Friday, 8:00 A.M.—6:00 P.M., Eastern time.

**A note on performance**<br>Class 1 shares commenced operations on December 30, 2013. Class A shares commenced operations on April 26, 2021. Returns shown prior to the commencement date for Class A shares are those of Class 1 shares, except that they include any sales charges. Returns for Class A shares would have been substantially similar to returns of Class 1 shares because each share class is invested in the same portfolio of securities and returns would differ only to the extent that expenses of the classes are different. To the extent expenses of a class would have been higher than expenses of Class 1 shares for the periods shown, performance would have been lower.

Please note that after-tax returns reflect the highest individual federal marginal income-tax rate in effect as of the date provided and do not reflect any state or local taxes. Your actual after-tax returns may be different. After-tax returns are not relevant to shares held in an IRA, 401(k), or other tax-advantaged investment plan.

**Calendar year total returns (%)—Class A** (sales charges are not reflected in the bar chart and returns would have been lower if they were)

![](su6329img001.jpg)

**Year-to-date total return.** The fund's total return for the nine months ended September 30, 2022, was –24.77%.<br>**Best quarter:** 2020, Q2, 19.34%<br>**Worst quarter:** 2020, Q1, –22.38%

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| | | | |
|:---|:---|:---|:---|
| **Average annual total returns (%)—as of 12/31/21** | **1 year**<br>| **5 year**<br>| **Since** **inception** **(12/30/13)** |
| **Class A** (before tax) | 12.96<br>| 12.43<br>| 9.63<br>|
| &nbsp;&nbsp;&nbsp; after tax on distributions | 10.93<br>| 10.21<br>| 7.95<br>|
| &nbsp;&nbsp;&nbsp; after tax on distributions, with sale | 8.80<br>| 9.20<br>| 7.16<br>|
| Morningstar U.S. Aggressive Target Allocation Index (reflects no deduction for fees, expenses, or taxes) | 19.69<br>| 15.01<br>| 11.48<br>|
| John Hancock Lifestyle Aggressive Index (reflects no deduction for fees, expenses, or taxes, except foreign withholding taxes on dividends) | 18.95<br>| 14.47<br>| 11.09<br>|

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**5**

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John Hancock Lifestyle Blend Aggressive Portfolio

**Investment management**

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**Investment advisor** John Hancock Investment Management LLC<br>**Subadvisor** Manulife Investment Management (US) LLC

**Portfolio management**

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The following individuals are jointly and primarily responsible for the day-to-day management of the fund's portfolio.

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|:---|:---|:---|:---|
| **Geoffrey Kelley, CFA**<br>*Senior Managing Director, Senior Portfolio Manager and Global Head of Strategic Asset Allocation, Multi-Asset Solutions Team*<br>Managed the fund since 2023 | **David Kobuszewski, CFA**<br>*Managing Director, Portfolio Manager and Senior Investment Analyst, Multi-Asset Solutions Team*<br>Managed the fund since 2023 | **Robert E. Sykes, CFA**<br>*Senior Managing Director, Senior Portfolio Manager and Head of Asset Allocation, U.S., Multi-Asset Solutions Team*<br>Managed the fund since 2018 | **Nathan W. Thooft, CFA**<br>*Chief Investment Officer and Senior Portfolio Manager, Multi-Asset Solutions Team*<br>Managed the fund since 2013 |

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**Purchase and sale of fund shares**

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The minimum initial investment requirement for Class A shares is $1,000 ($250 for group investments), except that there is no minimum for certain group retirement plans, certain fee-based or wrap accounts, or certain other eligible investment product platforms. There are no subsequent minimum investment requirements.

Class A shares may be redeemed on any business day by mail: John Hancock Signature Services, Inc., P.O. Box 219909, Kansas City, MO 64121-9909; or for most account types through our website: jhinvestments.com; or by telephone: 800-225-5291.

**Taxes**

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The fund's distributions are taxable, and will be taxed as ordinary income and/or capital gains, unless you are investing through a tax-deferred arrangement, such as a 401(k) plan or individual retirement account. Withdrawals from such tax-deferred arrangements may be subject to tax at a later date.

**Payments to broker-dealers and other financial intermediaries**

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If you purchase the fund through a broker-dealer or other financial intermediary (such as a bank, registered investment advisor, financial planner, or retirement plan administrator), the fund and its related companies may pay the broker-dealer or other intermediary for the sale of fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the fund over another investment. Ask your salesperson or visit your financial intermediary's website for more information.

**6**

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**7**

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![](su6329img002.jpg)<br>© 2023 John Hancock Investment Management Distributors LLC, Member FINRA, SIPC<br>200 Berkeley Street Boston, MA 02116<br>800-225-5291, jhinvestments.com<br>Manulife, Manulife Investment Management, Stylized M Design, and Manulife Investment Management & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and are used by its affiliates under license.<br> ![](su6329img003.jpg)<br>

SEC file number: 811-21779<br>4042SP 1/1/23