JHCP vs. JHPI

Last updated Jun 23, 2026

JHCP (John Hancock Core Plus Bond ETF) and JHPI (John Hancock Preferred Income ETF) are both exchange-traded funds - JHCP is a Intermediate Core-Plus Bond fund actively managed by John Hancock, while JHPI is a Preferred Stock/Convertible Bonds fund actively managed by John Hancock. Both are actively managed. Over the past year, JHCP returned 5.40% vs 7.49% for JHPI. At a 0.45 correlation, their price movements are largely independent. JHCP charges 0.36%/yr vs 0.54%/yr for JHPI.

Performance

JHCP vs. JHPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Core Plus Bond ETF (JHCP) 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, JHCP achieves a 0.55% return, which is significantly lower than JHPI's 1.81% return.

JHCP

• 1D: -0.22%
• 1M: 0.69%
• YTD: 0.55%
• 6M: 0.96%
• 1Y: 5.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JHPI

• 1D: -0.39%
• 1M: 0.22%
• YTD: 1.81%
• 6M: 1.89%
• 1Y: 7.49%
• 3Y*: 9.19%
• 5Y*: —
• 10Y*: —

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

JHCP vs. JHPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JHCP John Hancock Core Plus Bond ETF	0.55%	7.59%	-1.05%
JHPI John Hancock Preferred Income ETF	1.81%	7.37%	-0.89%

Correlation

The correlation between JHCP and JHPI is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (All Time) Calculated using the full available price history since Dec 18, 2024	0.45

Return for Risk

JHCP vs. JHPI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JHCP

JHCP Risk / Return Rank: 36
JHCP Sharpe Ratio Rank: 37
JHCP Sortino Ratio Rank: 37
JHCP Omega Ratio Rank: 33
JHCP Calmar Ratio Rank: 40
JHCP Martin Ratio Rank: 36

JHPI

JHPI Risk / Return Rank: 64
JHPI Sharpe Ratio Rank: 70
JHPI Sortino Ratio Rank: 71
JHPI Omega Ratio Rank: 74
JHPI Calmar Ratio Rank: 51
JHPI Martin Ratio Rank: 55

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JHCP vs. JHPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Core Plus Bond ETF (JHCP) 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.

	JHCP	JHPI	Difference
Sharpe ratio: Return per unit of total volatility	1.28	2.18	-0.90
Sortino ratio: Return per unit of downside risk	1.89	3.07	-1.18
Omega ratio: Gain probability vs. loss probability	1.22	1.42	-0.20
Calmar ratio: Return relative to maximum drawdown	1.92	2.44	-0.52
Martin ratio: Return relative to average drawdown	5.24	9.13	-3.89

JHCP vs. JHPI - Sharpe Ratio Comparison

The current JHCP Sharpe Ratio is 1.28, which is lower than the JHPI Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of JHCP 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

JHCP vs. JHPI - Drawdown Comparison

The maximum JHCP drawdown since its inception was -3.06%, smaller than the maximum JHPI drawdown of -13.45%. Use the drawdown chart below to compare losses from any high point for JHCP and JHPI.

Drawdown Indicators

	JHCP	JHPI	Difference
Max Drawdown Largest peak-to-trough decline	-3.06%	-13.45%	+10.39%
Max Drawdown (1Y) Largest decline over 1 year	-2.82%	-3.08%	+0.26%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.26%	—
Current Drawdown Current decline from peak	-1.35%	-0.63%	-0.72%
Average Drawdown Average peak-to-trough decline	-0.88%	-3.71%	+2.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.03%	0.82%	+0.21%

Volatility

JHCP vs. JHPI - Volatility Comparison

John Hancock Core Plus Bond ETF (JHCP) and John Hancock Preferred Income ETF (JHPI) have volatilities of 1.08% and 1.11%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JHCP	JHPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.08%	1.11%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	3.05%	2.62%	+0.43%
Volatility (1Y) Calculated over the trailing 1-year period	4.25%	3.45%	+0.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.85%	6.28%	-1.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.85%	6.28%	-1.43%

JHCP vs. JHPI - Expense Ratio Comparison

JHCP has a 0.36% expense ratio, which is lower than JHPI's 0.54% expense ratio.

Dividends

JHCP vs. JHPI - Dividend Comparison

JHCP's dividend yield for the trailing twelve months is around 4.65%, less than JHPI's 5.79% yield.

Position	TTM	2025	2024	2023	2022	2021
JHCP John Hancock Core Plus Bond ETF	4.65%	4.79%	0.20%	0.00%	0.00%	0.00%
JHPI John Hancock Preferred Income ETF	5.79%	5.73%	6.32%	6.44%	6.27%	0.24%

Frequently Asked Questions

Can I hold both JHCP and JHPI in my portfolio?

JHCP and JHPI have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JHCP or JHPI?

JHPI has higher volatility (1.11%) compared to JHCP (1.08%). In terms of maximum drawdown, JHCP dropped -3.06% vs JHPI's -13.45%.

Which ETF is better, JHCP or JHPI?

On 1-year performance, JHPI leads with 7.49% vs 5.40% for JHCP. On fees, JHCP is cheaper at 0.36% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JHCP or JHPI?

Over the 1-year period, JHPI has performed better with a 7.49% return vs 5.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JHCP or JHPI?

JHCP is cheaper with a 0.36% expense ratio, compared with 0.54% for JHPI.

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

JHPI has the higher dividend yield at 5.79%, compared with 4.65% for JHCP.

What is the main difference between JHCP and JHPI?

JHCP is categorized as Intermediate Core-Plus Bond, while JHPI is Preferred Stock/Convertible Bonds. Their fees differ too: 0.36% for JHCP and 0.54% for JHPI.

Which has better risk-adjusted returns?

JHPI currently has the higher Sharpe Ratio (2.18 vs 1.28), 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.