HPS vs. PISHX
Compare and contrast key facts about John Hancock Preferred Income Fund III (HPS) and Cohen & Steers Preferred Securities and Income SMA Shares (PISHX).
HPS is managed by John Hancock. It was launched on Jun 19, 2003. PISHX is managed by Cohen & Steers. It was launched on Feb 28, 2019.
Performance
HPS vs. PISHX - Performance Comparison
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HPS vs. PISHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
HPS John Hancock Preferred Income Fund III | 1.08% | 4.86% | 15.65% | 7.66% | -16.56% | 16.44% | -3.00% | 10.44% |
PISHX Cohen & Steers Preferred Securities and Income SMA Shares | -1.14% | 9.65% | 12.50% | 7.91% | -11.73% | 4.30% | 8.57% | 12.46% |
Returns By Period
In the year-to-date period, HPS achieves a 1.08% return, which is significantly higher than PISHX's -1.14% return.
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%
PISHX
- 1D
- 0.00%
- 1M
- -2.56%
- YTD
- -1.14%
- 6M
- 0.08%
- 1Y
- 6.86%
- 3Y*
- 10.90%
- 5Y*
- 4.03%
- 10Y*
- —
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HPS vs. PISHX - Expense Ratio Comparison
HPS has a 0.01% expense ratio, which is higher than PISHX's 0.00% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
HPS vs. PISHX — Risk / Return Rank
HPS
PISHX
HPS vs. PISHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for John Hancock Preferred Income Fund III (HPS) and Cohen & Steers Preferred Securities and Income SMA Shares (PISHX). 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.
| HPS | PISHX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.31 | 2.13 | -1.82 |
Sortino ratioReturn per unit of downside risk | 0.49 | 2.66 | -2.17 |
Omega ratioGain probability vs. loss probability | 1.07 | 1.54 | -0.46 |
Calmar ratioReturn relative to maximum drawdown | 0.35 | 1.93 | -1.59 |
Martin ratioReturn relative to average drawdown | 0.93 | 8.68 | -7.75 |
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
| HPS | PISHX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.31 | 2.13 | -1.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.22 | 0.89 | -0.67 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.26 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.24 | 0.77 | -0.53 |
Correlation
The correlation between HPS and PISHX is 0.40, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
HPS vs. PISHX - Dividend Comparison
HPS's dividend yield for the trailing twelve months is around 9.27%, more than PISHX's 5.12% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
PISHX Cohen & Steers Preferred Securities and Income SMA Shares | 5.12% | 5.52% | 5.89% | 5.92% | 5.45% | 4.25% | 4.59% | 3.38% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
HPS vs. PISHX - Drawdown Comparison
The maximum HPS drawdown since its inception was -70.04%, which is greater than PISHX's maximum drawdown of -27.12%. Use the drawdown chart below to compare losses from any high point for HPS and PISHX.
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Drawdown Indicators
| HPS | PISHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.04% | -27.12% | -42.92% |
Max Drawdown (1Y)Largest decline over 1 year | -10.04% | -3.46% | -6.58% |
Max Drawdown (5Y)Largest decline over 5 years | -29.39% | -19.14% | -10.25% |
Max Drawdown (10Y)Largest decline over 10 years | -52.12% | — | — |
Current DrawdownCurrent decline from peak | -5.69% | -2.83% | -2.86% |
Average DrawdownAverage peak-to-trough decline | -8.41% | -4.03% | -4.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.76% | 0.77% | +2.99% |
Volatility
HPS vs. PISHX - Volatility Comparison
John Hancock Preferred Income Fund III (HPS) has a higher volatility of 5.07% compared to Cohen & Steers Preferred Securities and Income SMA Shares (PISHX) at 1.22%. This indicates that HPS's price experiences larger fluctuations and is considered to be riskier than PISHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HPS | PISHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.07% | 1.22% | +3.85% |
Volatility (6M)Calculated over the trailing 6-month period | 7.61% | 1.76% | +5.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.67% | 3.22% | +9.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.68% | 4.54% | +11.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.46% | 7.43% | +14.03% |