HPS Alternatives & Similar Mutual Funds

John Hancock Preferred Income Fund III (HPS) belongs to the Preferred Stock/Convertible Bonds category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with HPS. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to HPS

HPS charges 0.01% annually. No mutual funds in the Preferred Stock/Convertible Bonds category have lower expense ratios; the lowest-cost alternatives shown here go as low as 0.01%.

Symbol	Name	Expense Ratio	AUM	Inception
HPI	John Hancock Preferred Income Fund	0.01%	—	Aug 2002	HPS vs HPI
HPF	John Hancock Preferred Income Fund II	0.01%	—	Jan 2005	HPS vs HPF
JPC	Nuveen Preferred and Income Opportunities Fund	0.01%	—	Mar 2003	HPS vs JPC
LDP	Cohen and Steers Limited Duration Preferred and In...	0.01%	—	May 2012	HPS vs LDP
FPF	First Trust Intermediate Duration Preferred and In...	0.02%	—	Apr 2009	HPS vs FPF

Best Risk-Adjusted Alternatives to HPS

HPS has a PortfoliosLab risk / return rank of 23. There are 23 mutual funds in the Preferred Stock/Convertible Bonds category with higher risk-adjusted ranks, going as high as 88.

Symbol	Name	Risk / Return Rank	AUM	Inception
DPIIX	Destra Flaherty & Crumrine Preferred and Income Fu...	88	—	Apr 2011	HPS vs DPIIX
PISHX	Cohen & Steers Preferred Securities and Income SMA...	88	—	Feb 2019	HPS vs PISHX
LPXZX	Cohen & Steers Low Duration Preferred and Income F...	86	—	Nov 2015	HPS vs LPXZX
CICVX	Calamos Convertible Fund	82	—	Jun 1997	HPS vs CICVX
CCVIX	Calamos Convertible Fund	81	—	Jun 1985	HPS vs CCVIX

Top Performing HPS Alternatives (YTD)

HPS is at 5.22% YTD. There are 10 mutual funds in the Preferred Stock/Convertible Bonds category with higher YTD returns, going as high as 20.76%.

Symbol	Name	YTD Return	AUM	Inception
CICVX	Calamos Convertible Fund	20.76%	—	Jun 1997	HPS vs CICVX
CCVIX	Calamos Convertible Fund	20.62%	—	Jun 1985	HPS vs CCVIX
NCV	Virtus Convertible and Income Fund	17.13%	—	Mar 2003	HPS vs NCV
FIQVX	Fidelity Advisor Convertible Securities Fund Class...	16.90%	—	Oct 2018	HPS vs FIQVX
FCVSX	Fidelity Convertible Securities Fund	16.87%	—	Jan 1987	HPS vs FCVSX

Lowest Volatility Alternatives to HPS

HPS has 9.65% 1-year volatility. There are 18 mutual funds in the Preferred Stock/Convertible Bonds category with lower 1-year volatility, going as low as 1.87%.

Symbol	Name	Volatility 1Y	AUM	Inception
LPXZX	Cohen & Steers Low Duration Preferred and Income F...	1.87%	—	Nov 2015	HPS vs LPXZX
DPIIX	Destra Flaherty & Crumrine Preferred and Income Fu...	2.11%	—	Apr 2011	HPS vs DPIIX
PCSFX	Principal Capital Securities Fund	2.14%	—	Mar 2014	HPS vs PCSFX
PISHX	Cohen & Steers Preferred Securities and Income SMA...	2.41%	—	Feb 2019	HPS vs PISHX
PPSIX	Principal Spectrum Preferred and Capital Securitie...	2.42%	—	Apr 2002	HPS vs PPSIX

Lowest Drawdown Alternatives to HPS

HPS has a 1-year max drawdown of -7.61%. There are 21 mutual funds in the Preferred Stock/Convertible Bonds category with shallower 1-year drawdowns, going as shallow as -2.14%.

Symbol	Name	Max Drawdown 1Y	AUM	Inception
LPXZX	Cohen & Steers Low Duration Preferred and Income F...	-2.14%	—	Nov 2015	HPS vs LPXZX
DPIIX	Destra Flaherty & Crumrine Preferred and Income Fu...	-2.39%	—	Apr 2011	HPS vs DPIIX
PISHX	Cohen & Steers Preferred Securities and Income SMA...	-2.83%	—	Feb 2019	HPS vs PISHX
JPDIX	JPMorgan Preferred and Income Securities Fund	-2.92%	—	Mar 2022	HPS vs JPDIX
PCSFX	Principal Capital Securities Fund	-2.97%	—	Mar 2014	HPS vs PCSFX

Other Mutual Funds from John Hancock

The 10 most viewed John Hancock mutual funds shown here include SVBAX, JAAAX, JVMIX and span 8 categories.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
SVBAX	John Hancock Balanced Fund	Diversified Portfolio	86	9.62%	—	Oct 1992	HPS vs SVBAX
JAAAX	John Hancock Funds Alternative Asset Allocation Fu...	Multistrategy	94	5.95%	—	Jan 2009	HPS vs JAAAX
JVMIX	John Hancock Funds Disciplined Value Mid Cap Fund ...	Mid Cap Value Equities	32	11.90%	—	Jun 1997	HPS vs JVMIX
JFIVX	John Hancock Variable Insurance Trust 500 Index Tr...	Large Cap Blend Equities	62	10.28%	—	Nov 2012	HPS vs JFIVX
PDT	John Hancock Premium Dividend Fund	Dividend	15	6.96%	—	Dec 1989	HPS vs PDT
JVLIX	John Hancock Funds Disciplined Value Fund	Large Cap Value Equities	85	18.12%	—	Jan 1997	HPS vs JVLIX
JHNBX	John Hancock Bond Fund	Intermediate Core-Plus Bond	22	-0.30%	—	Nov 1973	HPS vs JHNBX
JIJIX	John Hancock International Dynamic Growth Fund	Foreign Large Cap Equities	27	16.26%	—	May 2019	HPS vs JIJIX
HTD	John Hancock Tax-Advantaged Dividend Income Fund	Dividend	44	14.12%	—	Feb 2004	HPS vs HTD
TAGRX	John Hancock Fundamental Large Cap Core Fund	Large Cap Blend Equities	14	2.85%	—	Oct 1984	HPS vs TAGRX

Often Compared With HPS

Investors most often compare HPS with PFFA, PFD, PTA. These 20 comparison targets span 6 categories, based on PortfoliosLab usage data.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
PFFA	Virtus InfraCap U.S. Preferred Stock ETF	Preferred Stock/Convertible Bonds	35	2.21%	2.45B	May 2018	HPS vs PFFA
PFD	Flaherty & Crumrine Preferred Income Fund	Preferred Stock/Convertible Bonds	21	1.13%	—	Jan 1991	HPS vs PFD
PTA	Cohen & Steers Tax-Advantaged Preferred Securities...	Preferred Stock/Convertible Bonds	8	4.25%	—	—	HPS vs PTA
LBFFX	Lord Abbett Convertible Fund Class F	Preferred Stock/Convertible Bonds	66	14.69%	—	—	HPS vs LBFFX
CPXIX	Cohen & Steers Preferred Securities and Income Fun...	Preferred Stock/Convertible Bonds	79	2.00%	—	May 2010	HPS vs CPXIX
FACVX	Fidelity Advisor Convertible Securities Fund Class...	Preferred Stock/Convertible Bonds	69	16.76%	—	Feb 2009	HPS vs FACVX
NPFD	Nuveen Variable Rate Preferred & Income Fund	Preferred Stock/Convertible Bonds	16	3.76%	—	Dec 2021	HPS vs NPFD
PFO	Flaherty & Crumrine Preferred and Income Opportuni...	Preferred Stock/Convertible Bonds	21	1.09%	—	Feb 1992	HPS vs PFO
PSF	Cohen & Steers Select Preferred and Income Fund	Preferred Stock/Convertible Bonds	15	3.23%	—	—	HPS vs PSF
JCCIX	John Hancock Small Cap Core Fund	Small Cap Blend Equities	53	24.61%	—	Dec 2013	HPS vs JCCIX
FICVX	Fidelity Advisor Convertible Securities Fund Class...	Preferred Stock/Convertible Bonds	70	16.86%	—	Feb 2009	HPS vs FICVX
FTCVX	Fidelity Advisor Convertible Securities Fund Class...	Preferred Stock/Convertible Bonds	68	16.56%	—	Feb 2009	HPS vs FTCVX
NPSRX	Nuveen Preferred Securities & Income Fund	Preferred Stock/Convertible Bonds	74	0.92%	—	Dec 2006	HPS vs NPSRX
JFCIX	John Hancock Funds Fundamental All Cap Core Fund	Large Cap Blend Equities	7	1.66%	—	Jun 2011	HPS vs JFCIX
PFINX	PIMCO Preferred and Capital Securities Fund	Preferred Stock/Convertible Bonds	73	2.23%	—	Apr 2015	HPS vs PFINX
JIBCX	John Hancock Funds II Blue Chip Growth Fund	Large Cap Growth Equities	3	0.00%	—	Oct 2005	HPS vs JIBCX
FCCVX	Fidelity Advisor Convertible Securities Fund Class...	Preferred Stock/Convertible Bonds	67	16.53%	—	Feb 2009	HPS vs FCCVX
JEEIX	JHancock Infrastructure Fund	Energy Equities	77	12.71%	—	Dec 2013	HPS vs JEEIX
MLPX	Global X MLP & Energy Infrastructure ETF	MLPs	70	28.55%	3.54B	Aug 2013	HPS vs MLPX
HESM	Hess Midstream LP		56	20.46%	—	—	HPS vs HESM

Compare HPS with Any Fund or Stock

Compare HPS with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

Symbol name

Diversifiers

Pair HPS with funds that move differently

John Hancock Preferred Income Fund III alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to HPS.

Explore HPS Diversifiers

John Hancock Preferred Income Fund III (HPS) Alternatives