CWB vs. JHPI
Compare and contrast key facts about SPDR Bloomberg Barclays Convertible Securities ETF (CWB) and John Hancock Preferred Income ETF (JHPI).
CWB and JHPI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CWB is a passively managed fund by State Street that tracks the performance of the Bloomberg US Convertibles Liquid Bond. It was launched on Apr 14, 2009. JHPI is an actively managed fund by John Hancock. It was launched on Dec 14, 2021.
Performance
CWB vs. JHPI - Performance Comparison
Loading graphics...
CWB vs. JHPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CWB SPDR Bloomberg Barclays Convertible Securities ETF | 2.86% | 16.61% | 10.06% | 14.49% | -20.81% | 1.22% |
JHPI John Hancock Preferred Income ETF | -0.26% | 7.37% | 10.54% | 7.25% | -9.55% | 0.62% |
Returns By Period
In the year-to-date period, CWB achieves a 2.86% return, which is significantly higher than JHPI's -0.26% return.
CWB
- 1D
- 2.79%
- 1M
- -2.88%
- YTD
- 2.86%
- 6M
- 1.95%
- 1Y
- 21.54%
- 3Y*
- 13.06%
- 5Y*
- 3.66%
- 10Y*
- 11.06%
JHPI
- 1D
- 0.27%
- 1M
- -2.03%
- YTD
- -0.26%
- 6M
- 0.31%
- 1Y
- 6.56%
- 3Y*
- 8.73%
- 5Y*
- —
- 10Y*
- —
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
CWB vs. JHPI - Expense Ratio Comparison
CWB has a 0.40% expense ratio, which is lower than JHPI's 0.54% expense ratio.
Return for Risk
CWB vs. JHPI — Risk / Return Rank
CWB
JHPI
CWB vs. JHPI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays Convertible Securities ETF (CWB) and John Hancock Preferred Income ETF (JHPI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| CWB | JHPI | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.50 | 1.67 | -0.16 |
Sortino ratioReturn per unit of downside risk | 2.07 | 2.21 | -0.14 |
Omega ratioGain probability vs. loss probability | 1.28 | 1.33 | -0.05 |
Calmar ratioReturn relative to maximum drawdown | 2.80 | 2.09 | +0.71 |
Martin ratioReturn relative to average drawdown | 9.27 | 6.90 | +2.36 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| CWB | JHPI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.50 | 1.67 | -0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.29 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.77 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.84 | 0.54 | +0.30 |
Correlation
The correlation between CWB and JHPI is 0.58, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
CWB vs. JHPI - Dividend Comparison
CWB's dividend yield for the trailing twelve months is around 1.63%, less than JHPI's 5.66% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CWB SPDR Bloomberg Barclays Convertible Securities ETF | 1.63% | 1.69% | 1.85% | 1.97% | 2.21% | 1.97% | 2.34% | 3.03% | 6.17% | 4.25% | 4.60% | 7.52% |
JHPI John Hancock Preferred Income ETF | 5.66% | 5.73% | 6.32% | 6.44% | 6.27% | 0.24% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
CWB vs. JHPI - Drawdown Comparison
The maximum CWB drawdown since its inception was -32.06%, which is greater than JHPI's maximum drawdown of -13.45%. Use the drawdown chart below to compare losses from any high point for CWB and JHPI.
Loading graphics...
Drawdown Indicators
| CWB | JHPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.06% | -13.45% | -18.61% |
Max Drawdown (1Y)Largest decline over 1 year | -7.52% | -3.08% | -4.44% |
Max Drawdown (5Y)Largest decline over 5 years | -28.41% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -32.06% | — | — |
Current DrawdownCurrent decline from peak | -4.16% | -2.64% | -1.52% |
Average DrawdownAverage peak-to-trough decline | -6.22% | -3.87% | -2.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.27% | 0.93% | +1.34% |
Volatility
CWB vs. JHPI - Volatility Comparison
SPDR Bloomberg Barclays Convertible Securities ETF (CWB) has a higher volatility of 6.36% compared to John Hancock Preferred Income ETF (JHPI) at 1.51%. This indicates that CWB's price experiences larger fluctuations and is considered to be riskier than JHPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| CWB | JHPI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.36% | 1.51% | +4.85% |
Volatility (6M)Calculated over the trailing 6-month period | 11.48% | 2.54% | +8.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.38% | 3.96% | +10.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.85% | 6.39% | +6.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.33% | 6.39% | +7.94% |