HTD vs. DHY

Last updated Aug 1, 2026

HTD (John Hancock Tax-Advantaged Dividend Income Fund) and DHY (Dimensional High Yield Equity Fund) are both Dividend funds. Over the past 10 years, HTD returned 8.67%/yr vs 5.65%/yr for DHY. Their 0.31 correlation means their historical movements had little consistent relationship. HTD charges 0.01%/yr vs 0.04%/yr for DHY.

Performance

HTD vs. DHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Tax-Advantaged Dividend Income Fund (HTD) and Dimensional High Yield Equity Fund (DHY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HTD achieves a 13.77% return, which is significantly higher than DHY's -7.21% return. Over the past 10 years, HTD has outperformed DHY with an annualized return of 8.67%, while DHY has yielded a comparatively lower 5.65% annualized return.

HTD

• 1D: -0.27%
• 1M: 1.32%
• 6M: 8.30%
• YTD: 13.77%
• 1Y: 14.58%
• 3Y*: 16.15%
• 5Y*: 8.36%
• 10Y*: 8.67%
• ALL TIME*: 9.63%

DHY

• 1D: 0.00%
• 1M: -1.36%
• 6M: -8.38%
• YTD: -7.21%
• 1Y: -8.69%
• 3Y*: 6.94%
• 5Y*: 2.34%
• 10Y*: 5.65%
• ALL TIME*: 3.99%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DHY Dimensional High Yield Equity Fund	$993.17K	$1.50M	$1.33M
HTD John Hancock Tax-Advantaged Dividend Income Fund	$1.47M	$1.67M	$1.66M

HTD vs. DHY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HTD John Hancock Tax-Advantaged Dividend Income Fund	13.77%	15.87%	25.68%	-9.92%	-6.24%	32.36%	-16.54%	42.77%	-9.13%	16.47%
DHY Dimensional High Yield Equity Fund	-7.21%	2.19%	18.18%	24.13%	-21.75%	16.99%	0.10%	26.18%	-16.10%	17.06%

Correlation

The correlation between HTD and DHY is 0.22, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.22
Correlation (3Y) Balances recent behavior with more history.	0.26
Correlation (5Y) Shows whether the relationship held over a longer period.	0.34
Correlation (10Y) Provides a long-term view across more market conditions.	0.32
Correlation (All Time) Calculated using the full available price history since Feb 25, 2004	0.31

The correlation between HTD and DHY shifts across timeframes, from 0.22 (1 year) to 0.34 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

HTD vs. DHY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HTD

HTD Risk / Return Rank: 48
HTD Sharpe Ratio Rank: 43
HTD Sortino Ratio Rank: 39
HTD Omega Ratio Rank: 40
HTD Calmar Ratio Rank: 73
HTD Martin Ratio Rank: 47

DHY

DHY Risk / Return Rank: 1
DHY Sharpe Ratio Rank: 1
DHY Sortino Ratio Rank: 1
DHY Omega Ratio Rank: 1
DHY Calmar Ratio Rank: 0
DHY Martin Ratio Rank: 0

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HTD vs. DHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Tax-Advantaged Dividend Income Fund (HTD) and Dimensional High Yield Equity Fund (DHY). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	HTD	DHY	Difference
Sharpe ratio: Return per unit of total volatility	1.22	-0.70	+1.92
Sortino ratio: Return per unit of downside risk	1.69	-0.93	+2.62
Omega ratio: Gain probability vs. loss probability	1.22	0.89	+0.33
Calmar ratio: Return relative to maximum drawdown	2.36	-0.70	+3.06
Martin ratio: Return relative to average drawdown	6.53	-1.34	+7.87

HTD vs. DHY - Sharpe Ratio Comparison

The current HTD Sharpe Ratio is 1.22, which is higher than the DHY Sharpe Ratio of -0.70. The chart below compares the historical Sharpe Ratios of HTD and DHY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HTD vs. DHY - Drawdown Comparison

The maximum HTD drawdown since its inception was -69.79%, roughly equal to the maximum DHY drawdown of -71.47%. Use the drawdown chart below to compare losses from any high point for HTD and DHY.

Drawdown Indicators

	HTD	DHY	Difference
Max Drawdown Largest peak-to-trough decline	-69.79%	-71.47%	+1.68%
Max Drawdown (1Y) Largest decline over 1 year	-6.18%	-13.03%	+6.85%
Max Drawdown (3Y) Largest decline over 3 years	-18.48%	-13.03%	-5.45%
Max Drawdown (5Y) Largest decline over 5 years	-31.58%	-27.23%	-4.35%
Max Drawdown (10Y) Largest decline over 10 years	-56.57%	-41.36%	-15.21%
Current Drawdown Current decline from peak	-1.23%	-10.45%	+9.22%
Average Drawdown Average peak-to-trough decline	-8.74%	-12.35%	+3.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.23%	6.84%	-4.61%

Volatility

HTD vs. DHY - Volatility Comparison

The current volatility for John Hancock Tax-Advantaged Dividend Income Fund (HTD) is 2.43%, while Dimensional High Yield Equity Fund (DHY) has a volatility of 5.21%. This indicates that HTD experiences smaller price fluctuations and is considered to be less risky than DHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HTD	DHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.43%	5.21%	-2.78%
Volatility (6M) Calculated over the trailing 6-month period	8.87%	10.83%	-1.96%
Volatility (1Y) Calculated over the trailing 1-year period	11.97%	13.05%	-1.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.74%	15.35%	+2.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.61%	17.98%	+4.63%

HTD vs. DHY - Expense Ratio Comparison

HTD has a 0.01% expense ratio, which is lower than DHY's 0.04% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

HTD vs. DHY - Dividend Comparison

HTD's dividend yield for the trailing twelve months is around 7.36%, less than DHY's 10.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DHY Dimensional High Yield Equity Fund	10.63%	9.30%	8.69%	9.39%	10.57%	7.61%	8.68%	9.02%	11.20%	9.40%	10.52%	12.63%
HTD John Hancock Tax-Advantaged Dividend Income Fund	7.36%	7.51%	7.52%	8.73%	7.36%	5.80%	7.97%	6.06%	10.09%	8.85%	7.30%	7.06%

Frequently Asked Questions

Can I hold both HTD and DHY in my portfolio?

HTD and DHY have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HTD or DHY?

DHY has higher volatility (5.21%) compared to HTD (2.43%). In terms of maximum drawdown, HTD dropped -69.79% vs DHY's -71.47%.

Which has better risk-adjusted returns?

HTD currently has the higher Sharpe Ratio (1.22 vs -0.70), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.