JHPI vs. EPRF

Last updated Jul 15, 2026

JHPI (John Hancock Preferred Income ETF) and EPRF (Innovator S&P High Quality Preferred ETF) are both Preferred Stock/Convertible Bonds funds. JHPI is actively managed, while EPRF is passively managed. Over the past 3 years, JHPI returned 8.87%/yr vs 2.98%/yr for EPRF. A 0.75 correlation means they provide meaningful diversification when combined. JHPI charges 0.54%/yr vs 0.47%/yr for EPRF.

Performance

JHPI vs. EPRF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Preferred Income ETF (JHPI) and Innovator S&P High Quality Preferred ETF (EPRF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JHPI achieves a 1.81% return, which is significantly higher than EPRF's -2.35% return.

JHPI

• 1D: 0.04%
• 1M: -0.04%
• 6M: 1.12%
• YTD: 1.81%
• 1Y: 6.09%
• 3Y*: 8.87%
• 5Y*: —
• 10Y*: —

EPRF

• 1D: 0.67%
• 1M: -0.50%
• 6M: -3.88%
• YTD: -2.35%
• 1Y: -1.36%
• 3Y*: 2.98%
• 5Y*: -2.11%
• 10Y*: —

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

JHPI vs. EPRF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
JHPI John Hancock Preferred Income ETF	1.81%	7.37%	10.54%	7.25%	-9.55%	0.88%
EPRF Innovator S&P High Quality Preferred ETF	-2.35%	2.69%	3.46%	9.43%	-20.68%	1.76%

Correlation

The correlation between JHPI and EPRF is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (All Time) Calculated using the full available price history since Dec 15, 2021	0.75

The correlation between JHPI and EPRF has been stable across timeframes, ranging from 0.68 to 0.75 - a consistent structural relationship.

Return for Risk

JHPI vs. EPRF — Risk / Return Rank

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

JHPI

JHPI Risk / Return Rank: 63
JHPI Sharpe Ratio Rank: 70
JHPI Sortino Ratio Rank: 70
JHPI Omega Ratio Rank: 72
JHPI Calmar Ratio Rank: 49
JHPI Martin Ratio Rank: 54

EPRF

EPRF Risk / Return Rank: 7
EPRF Sharpe Ratio Rank: 8
EPRF Sortino Ratio Rank: 7
EPRF Omega Ratio Rank: 7
EPRF Calmar Ratio Rank: 8
EPRF Martin Ratio Rank: 8

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.

JHPI vs. EPRF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Preferred Income ETF (JHPI) and Innovator S&P High Quality Preferred ETF (EPRF). 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.

	JHPI	EPRF	Difference
Sharpe ratio: Return per unit of total volatility	1.80	-0.18	+1.98
Sortino ratio: Return per unit of downside risk	2.53	-0.20	+2.73
Omega ratio: Gain probability vs. loss probability	1.34	0.98	+0.36
Calmar ratio: Return relative to maximum drawdown	1.99	-0.16	+2.15
Martin ratio: Return relative to average drawdown	7.38	-0.30	+7.68

JHPI vs. EPRF - Sharpe Ratio Comparison

The current JHPI Sharpe Ratio is 1.80, which is higher than the EPRF Sharpe Ratio of -0.18. The chart below compares the historical Sharpe Ratios of JHPI and EPRF, 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

JHPI vs. EPRF - Drawdown Comparison

The maximum JHPI drawdown since its inception was -13.45%, smaller than the maximum EPRF drawdown of -26.82%. Use the drawdown chart below to compare losses from any high point for JHPI and EPRF.

Drawdown Indicators

	JHPI	EPRF	Difference
Max Drawdown Largest peak-to-trough decline	-13.45%	-26.82%	+13.37%
Max Drawdown (1Y) Largest decline over 1 year	-3.08%	-8.59%	+5.51%
Max Drawdown (3Y) Largest decline over 3 years	-5.26%	-12.29%	+7.03%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.23%	—
Current Drawdown Current decline from peak	-0.63%	-11.03%	+10.40%
Average Drawdown Average peak-to-trough decline	-3.67%	-7.42%	+3.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.83%	4.58%	-3.75%

Volatility

JHPI vs. EPRF - Volatility Comparison

The current volatility for John Hancock Preferred Income ETF (JHPI) is 0.91%, while Innovator S&P High Quality Preferred ETF (EPRF) has a volatility of 2.42%. This indicates that JHPI experiences smaller price fluctuations and is considered to be less risky than EPRF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JHPI	EPRF	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.91%	2.42%	-1.51%
Volatility (6M) Calculated over the trailing 6-month period	2.61%	5.56%	-2.95%
Volatility (1Y) Calculated over the trailing 1-year period	3.42%	7.52%	-4.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.24%	11.85%	-5.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.24%	13.43%	-7.19%

JHPI vs. EPRF - Expense Ratio Comparison

JHPI has a 0.54% expense ratio, which is higher than EPRF's 0.47% expense ratio.

Dividends

JHPI vs. EPRF - Dividend Comparison

JHPI's dividend yield for the trailing twelve months is around 5.67%, less than EPRF's 6.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EPRF Innovator S&P High Quality Preferred ETF	6.18%	6.03%	6.13%	5.71%	5.67%	4.70%	4.92%	5.01%	5.27%	2.59%
JHPI John Hancock Preferred Income ETF	5.67%	5.73%	6.32%	6.44%	6.27%	0.24%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JHPI and EPRF in my portfolio?

JHPI and EPRF have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JHPI or EPRF?

EPRF has higher volatility (2.42%) compared to JHPI (0.91%). In terms of maximum drawdown, JHPI dropped -13.45% vs EPRF's -26.82%.

Which ETF is better, JHPI or EPRF?

On 3-year performance, JHPI leads with 8.87% vs 2.98% for EPRF. On fees, EPRF is cheaper at 0.47% per year. On volatility, JHPI has been the lower-risk option at 0.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JHPI or EPRF?

Over the 3-year period, JHPI has performed better with a 8.87% return vs 2.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JHPI or EPRF?

EPRF is cheaper with a 0.47% expense ratio, compared with 0.54% for JHPI.

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

EPRF has the higher dividend yield at 6.18%, compared with 5.67% for JHPI.

What is the main difference between JHPI and EPRF?

They also come from different issuers: John Hancock and Innovator. Their fees differ too: 0.54% for JHPI and 0.47% for EPRF.

Which has better risk-adjusted returns?

JHPI currently has the higher Sharpe Ratio (1.80 vs -0.18), 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.