JHPI vs. FCVT
JHPI (John Hancock Preferred Income ETF) and FCVT (First Trust SSI Strategic Convertible Securities ETF) are both exchange-traded funds - JHPI is a Preferred Stock fund actively managed by John Hancock, while FCVT is a Convertible Bonds fund actively managed by First Trust. Both are actively managed. Over the past 3 years, JHPI returned 8.56%/yr vs 17.52%/yr for FCVT. Their 0.53 correlation means they have sometimes moved together and sometimes differently. JHPI charges 0.54%/yr vs 0.95%/yr for FCVT.
Performance
JHPI vs. FCVT - Performance Comparison
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Returns By Period
In the year-to-date period, JHPI achieves a 1.91% return, which is significantly lower than FCVT's 17.32% return.
JHPI
- 1D
- 0.22%
- 1M
- -0.11%
- 6M
- 0.77%
- YTD
- 1.91%
- 1Y
- 5.40%
- 3Y*
- 8.56%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.71%
FCVT
- 1D
- 2.20%
- 1M
- -2.49%
- 6M
- 9.67%
- YTD
- 17.32%
- 1Y
- 29.79%
- 3Y*
- 17.52%
- 5Y*
- 5.76%
- 10Y*
- 11.20%
- ALL TIME*
- 10.74%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.39M | $2.14M | $1.42M | |
| $1.07M | $1.09M | $1.18M |
JHPI vs. FCVT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
JHPI John Hancock Preferred Income ETF | 1.91% | 7.37% | 10.54% | 7.25% | -9.55% | 0.88% |
FCVT First Trust SSI Strategic Convertible Securities ETF | 17.32% | 19.60% | 11.92% | 7.12% | -20.88% | 3.28% |
Correlation
The correlation between JHPI and FCVT is 0.49, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.49 |
Correlation (3Y) Balances recent behavior with more history. | 0.47 |
Correlation (All Time) Calculated using the full available price history since Dec 15, 2021 | 0.53 |
The correlation between JHPI and FCVT has been stable across timeframes, ranging from 0.47 to 0.53 - a consistent structural relationship.
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Return for Risk
JHPI vs. FCVT — Risk / Return Rank
JHPI
FCVT
JHPI vs. FCVT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for John Hancock Preferred Income ETF (JHPI) and First Trust SSI Strategic Convertible Securities ETF (FCVT). 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 | FCVT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.26 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | 2.16 | -0.39 |
| Martin ratioReturn relative to average drawdown | 6.42 | 8.56 | -2.14 |
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Drawdowns
JHPI vs. FCVT - Drawdown Comparison
The maximum JHPI drawdown since its inception was -13.45%, smaller than the maximum FCVT drawdown of -31.79%. Use the drawdown chart below to compare losses from any high point for JHPI and FCVT.
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Drawdown Indicators
| JHPI | FCVT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.45% | -31.79% | +18.34% |
Max Drawdown (1Y)Largest decline over 1 year | -3.08% | -13.87% | +10.79% |
Max Drawdown (3Y)Largest decline over 3 years | -5.25% | -15.06% | +9.81% |
Max Drawdown (5Y)Largest decline over 5 years | — | -30.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -31.79% | — |
Current DrawdownCurrent decline from peak | -0.52% | -8.10% | +7.58% |
Average DrawdownAverage peak-to-trough decline | -3.63% | -10.29% | +6.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.84% | 3.49% | -2.65% |
Volatility
JHPI vs. FCVT - Volatility Comparison
The current volatility for John Hancock Preferred Income ETF (JHPI) is 0.83%, while First Trust SSI Strategic Convertible Securities ETF (FCVT) has a volatility of 7.92%. This indicates that JHPI experiences smaller price fluctuations and is considered to be less risky than FCVT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JHPI | FCVT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.83% | 7.92% | -7.09% |
Volatility (6M)Calculated over the trailing 6-month period | 2.61% | 16.06% | -13.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.38% | 19.20% | -15.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.21% | 14.80% | -8.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.21% | 15.01% | -8.80% |
JHPI vs. FCVT - Expense Ratio Comparison
JHPI has a 0.54% expense ratio, which is lower than FCVT's 0.95% expense ratio.
Dividends
JHPI vs. FCVT - Dividend Comparison
JHPI's dividend yield for the trailing twelve months is around 5.88%, more than FCVT's 1.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCVT First Trust SSI Strategic Convertible Securities ETF | 1.12% | 1.98% | 1.30% | 1.76% | 3.71% | 23.07% | 1.72% | 1.60% | 1.85% | 2.18% | 1.88% | 0.59% |
JHPI John Hancock Preferred Income ETF | 5.88% | 5.73% | 6.32% | 6.44% | 6.27% | 0.24% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JHPI and FCVT have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FCVT has higher volatility (7.92%) compared to JHPI (0.83%). In terms of maximum drawdown, JHPI dropped -13.45% vs FCVT's -31.79%.
On 3-year performance, FCVT leads with 17.52% vs 8.56% for JHPI. On fees, JHPI is cheaper at 0.54% per year. On volatility, JHPI has been the lower-risk option at 0.83%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, FCVT has performed better with a 17.52% return vs 8.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JHPI is cheaper with a 0.54% expense ratio, compared with 0.95% for FCVT.
JHPI has the higher dividend yield at 5.88%, compared with 1.12% for FCVT.
JHPI is categorized as Preferred Stock, while FCVT is Convertible Bonds. They also come from different issuers: John Hancock and First Trust. Their fees differ too: 0.54% for JHPI and 0.95% for FCVT.
JHPI currently has the higher Sharpe Ratio (1.61 vs 1.56), 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.
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