HPI vs. HPS
Compare and contrast key facts about John Hancock Preferred Income Fund (HPI) and John Hancock Preferred Income Fund III (HPS).
HPI is managed by John Hancock. It was launched on Aug 27, 2002. HPS is managed by John Hancock. It was launched on Jun 19, 2003.
Performance
HPI vs. HPS - Performance Comparison
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HPI vs. HPS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HPI John Hancock Preferred Income Fund | -1.60% | 6.54% | 14.95% | 8.34% | -15.79% | 13.16% | -7.02% | 30.89% | -4.79% | 13.78% |
HPS John Hancock Preferred Income Fund III | 1.08% | 4.86% | 15.65% | 7.66% | -16.56% | 16.44% | -3.00% | 31.43% | -8.37% | 14.32% |
Returns By Period
In the year-to-date period, HPI achieves a -1.60% return, which is significantly lower than HPS's 1.08% return. Over the past 10 years, HPI has underperformed HPS with an annualized return of 5.12%, while HPS has yielded a comparatively higher 5.59% annualized return.
HPI
- 1D
- 2.48%
- 1M
- -1.92%
- YTD
- -1.60%
- 6M
- -5.45%
- 1Y
- 3.58%
- 3Y*
- 8.87%
- 5Y*
- 3.10%
- 10Y*
- 5.12%
HPS
- 1D
- 2.96%
- 1M
- -2.92%
- YTD
- 1.08%
- 6M
- -3.58%
- 1Y
- 3.89%
- 3Y*
- 8.40%
- 5Y*
- 3.44%
- 10Y*
- 5.59%
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HPI vs. HPS - Expense Ratio Comparison
Both HPI and HPS have an expense ratio of 0.01%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Return for Risk
HPI vs. HPS — Risk / Return Rank
HPI
HPS
HPI vs. HPS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for John Hancock Preferred Income Fund (HPI) and John Hancock Preferred Income Fund III (HPS). 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.
| HPI | HPS | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.29 | 0.31 | -0.02 |
Sortino ratioReturn per unit of downside risk | 0.44 | 0.49 | -0.05 |
Omega ratioGain probability vs. loss probability | 1.07 | 1.07 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 0.33 | 0.35 | -0.01 |
Martin ratioReturn relative to average drawdown | 0.91 | 0.93 | -0.02 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HPI | HPS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.29 | 0.31 | -0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | 0.22 | -0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.21 | 0.26 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.24 | +0.01 |
Correlation
The correlation between HPI and HPS is 0.68, 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
HPI vs. HPS - Dividend Comparison
HPI's dividend yield for the trailing twelve months is around 9.45%, more than HPS's 9.27% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HPI John Hancock Preferred Income Fund | 9.45% | 9.15% | 8.91% | 9.39% | 9.23% | 7.14% | 7.53% | 7.69% | 8.92% | 7.84% | 8.26% | 7.69% |
HPS John Hancock Preferred Income Fund III | 9.27% | 9.16% | 8.78% | 9.34% | 9.15% | 7.04% | 7.63% | 7.41% | 9.26% | 7.82% | 8.27% | 7.53% |
Drawdowns
HPI vs. HPS - Drawdown Comparison
The maximum HPI drawdown since its inception was -67.67%, roughly equal to the maximum HPS drawdown of -70.04%. Use the drawdown chart below to compare losses from any high point for HPI and HPS.
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Drawdown Indicators
| HPI | HPS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.67% | -70.04% | +2.37% |
Max Drawdown (1Y)Largest decline over 1 year | -10.02% | -10.04% | +0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -30.10% | -29.39% | -0.71% |
Max Drawdown (10Y)Largest decline over 10 years | -57.99% | -52.12% | -5.87% |
Current DrawdownCurrent decline from peak | -7.10% | -5.69% | -1.41% |
Average DrawdownAverage peak-to-trough decline | -8.49% | -8.41% | -0.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.68% | 3.76% | -0.08% |
Volatility
HPI vs. HPS - Volatility Comparison
John Hancock Preferred Income Fund (HPI) has a higher volatility of 5.36% compared to John Hancock Preferred Income Fund III (HPS) at 5.07%. This indicates that HPI's price experiences larger fluctuations and is considered to be riskier than HPS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HPI | HPS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.36% | 5.07% | +0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 6.81% | 7.61% | -0.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.50% | 12.67% | -0.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.82% | 15.68% | +0.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.32% | 21.46% | +2.86% |