JHAC vs. JHPI

Last updated Aug 2, 2026

JHAC (John Hancock Fundamental All Cap Core ETF) and JHPI (John Hancock Preferred Income ETF) are both exchange-traded funds - JHAC is a Large Cap Blend Equities fund actively managed by John Hancock, while JHPI is a Preferred Stock fund actively managed by John Hancock. Both are actively managed. Over the past year, JHAC returned 7.19% vs 5.17% for JHPI. Their 0.53 correlation means they have sometimes moved together and sometimes differently. JHAC charges 0.72%/yr vs 0.54%/yr for JHPI.

Performance

JHAC vs. JHPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Fundamental All Cap Core ETF (JHAC) and John Hancock Preferred Income ETF (JHPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JHAC achieves a 2.12% return, which is significantly higher than JHPI's 1.69% return.

JHAC

• 1D: 1.50%
• 1M: 3.10%
• 6M: 3.36%
• YTD: 2.12%
• 1Y: 7.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.24%

JHPI

• 1D: 0.04%
• 1M: -0.34%
• 6M: 0.41%
• YTD: 1.69%
• 1Y: 5.17%
• 3Y*: 8.44%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.67%

*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)
JHAC John Hancock Fundamental All Cap Core ETF	$2.45K	$1.64K	$6.02K
JHPI John Hancock Preferred Income ETF	$1.18M	$1.11M	$1.20M

JHAC vs. JHPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JHAC John Hancock Fundamental All Cap Core ETF	2.12%	3.33%	23.65%	15.81%
JHPI John Hancock Preferred Income ETF	1.69%	7.37%	10.54%	9.19%

Correlation

The correlation between JHAC and JHPI is 0.61, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.61
Correlation (All Time) Calculated using the full available price history since Nov 2, 2023	0.53

The correlation between JHAC and JHPI has been stable across timeframes, ranging from 0.53 to 0.61 - a consistent structural relationship.

Return for Risk

JHAC vs. JHPI — Risk / Return Rank

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

JHAC

JHAC Risk / Return Rank: 18
JHAC Sharpe Ratio Rank: 19
JHAC Sortino Ratio Rank: 18
JHAC Omega Ratio Rank: 18
JHAC Calmar Ratio Rank: 16
JHAC Martin Ratio Rank: 18

JHPI

JHPI Risk / Return Rank: 61
JHPI Sharpe Ratio Rank: 67
JHPI Sortino Ratio Rank: 66
JHPI Omega Ratio Rank: 70
JHPI Calmar Ratio Rank: 47
JHPI Martin Ratio Rank: 53

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.

JHAC vs. JHPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Fundamental All Cap Core ETF (JHAC) 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.

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.

	JHAC	JHPI	Difference
Sharpe ratio: Return per unit of total volatility	0.36	1.56	-1.20
Sortino ratio: Return per unit of downside risk	0.58	2.17	-1.59
Omega ratio: Gain probability vs. loss probability	1.07	1.29	-0.22
Calmar ratio: Return relative to maximum drawdown	0.32	1.71	-1.39
Martin ratio: Return relative to average drawdown	0.93	6.22	-5.29

JHAC vs. JHPI - Sharpe Ratio Comparison

The current JHAC Sharpe Ratio is 0.36, which is lower than the JHPI Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of JHAC and JHPI, 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

JHAC vs. JHPI - Drawdown Comparison

The maximum JHAC drawdown since its inception was -24.43%, which is greater than JHPI's maximum drawdown of -13.45%. Use the drawdown chart below to compare losses from any high point for JHAC and JHPI.

Drawdown Indicators

	JHAC	JHPI	Difference
Max Drawdown Largest peak-to-trough decline	-24.43%	-13.45%	-10.98%
Max Drawdown (1Y) Largest decline over 1 year	-15.24%	-3.08%	-12.16%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.25%	—
Current Drawdown Current decline from peak	-1.68%	-0.74%	-0.94%
Average Drawdown Average peak-to-trough decline	-3.95%	-3.64%	-0.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.23%	0.84%	+4.39%

Volatility

JHAC vs. JHPI - Volatility Comparison

John Hancock Fundamental All Cap Core ETF (JHAC) has a higher volatility of 3.47% compared to John Hancock Preferred Income ETF (JHPI) at 0.80%. This indicates that JHAC'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.

Volatility by Period

	JHAC	JHPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.47%	0.80%	+2.67%
Volatility (6M) Calculated over the trailing 6-month period	9.82%	2.61%	+7.21%
Volatility (1Y) Calculated over the trailing 1-year period	13.59%	3.39%	+10.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.21%	6.22%	+10.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.21%	6.22%	+10.99%

JHAC vs. JHPI - Expense Ratio Comparison

JHAC has a 0.72% expense ratio, which is higher than JHPI's 0.54% expense ratio.

Dividends

JHAC vs. JHPI - Dividend Comparison

JHAC's dividend yield for the trailing twelve months is around 0.57%, less than JHPI's 5.90% yield.

Position	TTM	2025	2024	2023	2022	2021
JHAC John Hancock Fundamental All Cap Core ETF	0.57%	0.58%	0.66%	0.17%	0.00%	0.00%
JHPI John Hancock Preferred Income ETF	5.90%	5.73%	6.32%	6.44%	6.27%	0.24%

Frequently Asked Questions

Can I hold both JHAC and JHPI in my portfolio?

JHAC and JHPI have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JHAC or JHPI?

JHAC has higher volatility (3.47%) compared to JHPI (0.80%). In terms of maximum drawdown, JHAC dropped -24.43% vs JHPI's -13.45%.

Which ETF is better, JHAC or JHPI?

On 1-year performance, JHAC leads with 7.19% vs 5.17% for JHPI. On fees, JHPI is cheaper at 0.54% per year. On volatility, JHPI has been the lower-risk option at 0.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JHAC or JHPI?

Over the 1-year period, JHAC has performed better with a 7.19% return vs 5.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JHAC or JHPI?

JHPI is cheaper with a 0.54% expense ratio, compared with 0.72% for JHAC.

Which ETF pays a higher dividend yield, JHAC or JHPI?

JHPI has the higher dividend yield at 5.90%, compared with 0.57% for JHAC.

What is the main difference between JHAC and JHPI?

JHAC is categorized as Large Cap Blend Equities, while JHPI is Preferred Stock. Their fees differ too: 0.72% for JHAC and 0.54% for JHPI.

Which has better risk-adjusted returns?

JHPI currently has the higher Sharpe Ratio (1.56 vs 0.36), 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.