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 18. There are 25 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
CICVX	Calamos Convertible Fund	88	—	Jun 1997	HPS vs CICVX
CCVIX	Calamos Convertible Fund	88	—	Jun 1985	HPS vs CCVIX
PISHX	Cohen & Steers Preferred Securities and Income SMA...	86	—	Feb 2019	HPS vs PISHX
DPIIX	Destra Flaherty & Crumrine Preferred and Income Fu...	86	—	Apr 2011	HPS vs DPIIX
FIQVX	Fidelity Advisor Convertible Securities Fund Class...	84	—	Oct 2018	HPS vs FIQVX

Top Performing HPS Alternatives (YTD)

HPS is at 3.70% YTD. There are 11 mutual funds in the Preferred Stock/Convertible Bonds category with higher YTD returns, going as high as 24.53%.

Symbol	Name	YTD Return	AUM	Inception
CICVX	Calamos Convertible Fund	24.53%	—	Jun 1997	HPS vs CICVX
CCVIX	Calamos Convertible Fund	24.45%	—	Jun 1985	HPS vs CCVIX
FIQVX	Fidelity Advisor Convertible Securities Fund Class...	21.96%	—	Oct 2018	HPS vs FIQVX
FCVSX	Fidelity Convertible Securities Fund	21.88%	—	Jan 1987	HPS vs FCVSX
FICVX	Fidelity Advisor Convertible Securities Fund Class...	21.88%	—	Feb 2009	HPS vs FICVX

Lowest Volatility Alternatives to HPS

HPS has 9.71% 1-year volatility. There are 20 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...	2.15%	—	Apr 2011	HPS vs DPIIX
PCSFX	Principal Capital Securities Fund	2.15%	—	Mar 2014	HPS vs PCSFX
PPSIX	Principal Spectrum Preferred and Capital Securitie...	2.41%	—	Apr 2002	HPS vs PPSIX
PISHX	Cohen & Steers Preferred Securities and Income SMA...	2.41%	—	Feb 2019	HPS vs PISHX

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	84	9.14%	—	Oct 1992	HPS vs SVBAX
JAAAX	John Hancock Funds Alternative Asset Allocation Fu...	Multistrategy	92	5.23%	—	Jan 2009	HPS vs JAAAX
JVMIX	John Hancock Funds Disciplined Value Mid Cap Fund ...	Mid Cap Value Equities	26	8.99%	—	Jun 1997	HPS vs JVMIX
JFIVX	John Hancock Variable Insurance Trust 500 Index Tr...	Large Cap Blend Equities	53	8.04%	—	Nov 2012	HPS vs JFIVX
PDT	John Hancock Premium Dividend Fund	Dividend	8	4.10%	—	Dec 1989	HPS vs PDT
JVLIX	John Hancock Funds Disciplined Value Fund	Large Cap Value Equities	82	16.83%	—	Jan 1997	HPS vs JVLIX
JHNBX	John Hancock Bond Fund	Intermediate Core-Plus Bond	21	0.25%	—	Nov 1973	HPS vs JHNBX
JIJIX	John Hancock International Dynamic Growth Fund	Foreign Large Cap Equities	37	25.48%	—	May 2019	HPS vs JIJIX
HTD	John Hancock Tax-Advantaged Dividend Income Fund	Dividend	47	11.93%	—	Feb 2004	HPS vs HTD
TAGRX	John Hancock Fundamental Large Cap Core Fund	Large Cap Blend Equities	10	-1.45%	—	Oct 1984	HPS vs TAGRX

Often Compared With HPS

Investors most often compare HPS with PFD, PFFA, CPXIX. These 18 comparison targets span 5 categories, based on PortfoliosLab usage data.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
PFD	Flaherty & Crumrine Preferred Income Fund	Preferred Stock/Convertible Bonds	23	0.52%	—	Jan 1991	HPS vs PFD
PFFA	Virtus InfraCap U.S. Preferred Stock ETF	Preferred Stock/Convertible Bonds	37	1.00%	2.42B	May 2018	HPS vs PFFA
CPXIX	Cohen & Steers Preferred Securities and Income Fun...	Preferred Stock/Convertible Bonds	78	1.82%	—	May 2010	HPS vs CPXIX
LBFFX	Lord Abbett Convertible Fund Class F	Preferred Stock/Convertible Bonds	77	19.26%	—	—	HPS vs LBFFX
PTA	Cohen & Steers Tax-Advantaged Preferred Securities...	Preferred Stock/Convertible Bonds	6	2.40%	—	—	HPS vs PTA
NPFD	Nuveen Variable Rate Preferred & Income Fund	Preferred Stock/Convertible Bonds	12	2.22%	—	Dec 2021	HPS vs NPFD
FACVX	Fidelity Advisor Convertible Securities Fund Class...	Preferred Stock/Convertible Bonds	84	21.71%	—	Feb 2009	HPS vs FACVX
PFO	Flaherty & Crumrine Preferred and Income Opportuni...	Preferred Stock/Convertible Bonds	14	0.10%	—	Feb 1992	HPS vs PFO
PSF	Cohen & Steers Select Preferred and Income Fund	Preferred Stock/Convertible Bonds	14	1.50%	—	—	HPS vs PSF
NCV	Virtus Convertible and Income Fund	Preferred Stock/Convertible Bonds	84	20.52%	—	Mar 2003	HPS vs NCV
NPSRX	Nuveen Preferred Securities & Income Fund	Preferred Stock/Convertible Bonds	73	0.53%	—	Dec 2006	HPS vs NPSRX
FTCVX	Fidelity Advisor Convertible Securities Fund Class...	Preferred Stock/Convertible Bonds	84	21.59%	—	Feb 2009	HPS vs FTCVX
JCCIX	John Hancock Small Cap Core Fund	Small Cap Blend Equities	43	21.51%	—	Dec 2013	HPS vs JCCIX
JFCIX	John Hancock Funds Fundamental All Cap Core Fund	Large Cap Blend Equities	6	-3.23%	—	Jun 2011	HPS vs JFCIX
FCCVX	Fidelity Advisor Convertible Securities Fund Class...	Preferred Stock/Convertible Bonds	81	21.26%	—	Feb 2009	HPS vs FCCVX
JIBCX	John Hancock Funds II Blue Chip Growth Fund	Large Cap Growth Equities	4	-1.53%	—	Oct 2005	HPS vs JIBCX
PFINX	PIMCO Preferred and Capital Securities Fund	Preferred Stock/Convertible Bonds	73	2.12%	—	Apr 2015	HPS vs PFINX
JEEIX	JHancock Infrastructure Fund	Energy Equities	51	9.52%	—	Dec 2013	HPS vs JEEIX

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