JHPI vs. FHYSX

Last updated Aug 2, 2026

JHPI (John Hancock Preferred Income ETF) and FHYSX (Federated Hermes High-Yield Strategy Portfolio) are both funds - JHPI is a Preferred Stock fund actively managed by John Hancock, while FHYSX is a High Yield Bonds fund managed by Federated. Over the past 3 years, JHPI returned 8.44%/yr vs 7.42%/yr for FHYSX. Their 0.52 correlation means they have sometimes moved together and sometimes differently. JHPI charges 0.54%/yr vs 0.02%/yr for FHYSX.

Performance

JHPI vs. FHYSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Preferred Income ETF (JHPI) and Federated Hermes High-Yield Strategy Portfolio (FHYSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JHPI achieves a 1.69% return, which is significantly higher than FHYSX's 0.96% return.

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%

FHYSX

• 1D: 0.00%
• 1M: -0.77%
• 6M: 0.77%
• YTD: 0.96%
• 1Y: 4.60%
• 3Y*: 7.42%
• 5Y*: 3.07%
• 10Y*: 4.94%
• ALL TIME*: 4.44%

*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)
FHYSX Federated Hermes High-Yield Strategy Portfolio	$0.00	$0.00	$0.00
JHPI John Hancock Preferred Income ETF	$1.18M	$1.11M	$1.20M

JHPI vs. FHYSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
JHPI John Hancock Preferred Income ETF	1.69%	7.37%	10.54%	7.25%	-9.55%	0.88%
FHYSX Federated Hermes High-Yield Strategy Portfolio	0.96%	9.14%	6.42%	12.77%	-13.16%	1.07%

Correlation

The correlation between JHPI and FHYSX is 0.26, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.26
Correlation (3Y) Balances recent behavior with more history.	0.40
Correlation (All Time) Calculated using the full available price history since Dec 15, 2021	0.52

Over the past year, the correlation between JHPI and FHYSX has dropped to 0.26 - well below their long-term average of 0.52, suggesting their price drivers have been diverging.

Return for Risk

JHPI vs. FHYSX — Risk / Return Rank

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

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

FHYSX

FHYSX Risk / Return Rank: 74
FHYSX Sharpe Ratio Rank: 65
FHYSX Sortino Ratio Rank: 77
FHYSX Omega Ratio Rank: 79
FHYSX Calmar Ratio Rank: 65
FHYSX Martin Ratio Rank: 84

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.

JHPI vs. FHYSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Preferred Income ETF (JHPI) and Federated Hermes High-Yield Strategy Portfolio (FHYSX). 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	FHYSX	Difference
Sharpe ratio: Return per unit of total volatility	1.56	1.52	+0.04
Sortino ratio: Return per unit of downside risk	2.17	2.62	-0.45
Omega ratio: Gain probability vs. loss probability	1.29	1.35	-0.06
Calmar ratio: Return relative to maximum drawdown	1.71	2.12	-0.41
Martin ratio: Return relative to average drawdown	6.22	10.39	-4.18

JHPI vs. FHYSX - Sharpe Ratio Comparison

The current JHPI Sharpe Ratio is 1.56, which is comparable to the FHYSX Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of JHPI and FHYSX, 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. FHYSX - Drawdown Comparison

The maximum JHPI drawdown since its inception was -13.45%, smaller than the maximum FHYSX drawdown of -21.45%. Use the drawdown chart below to compare losses from any high point for JHPI and FHYSX.

Drawdown Indicators

	JHPI	FHYSX	Difference
Max Drawdown Largest peak-to-trough decline	-13.45%	-21.45%	+8.00%
Max Drawdown (1Y) Largest decline over 1 year	-3.08%	-2.44%	-0.64%
Max Drawdown (3Y) Largest decline over 3 years	-5.25%	-3.64%	-1.61%
Max Drawdown (5Y) Largest decline over 5 years	—	-16.93%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-21.45%	—
Current Drawdown Current decline from peak	-0.74%	-0.93%	+0.19%
Average Drawdown Average peak-to-trough decline	-3.64%	-2.56%	-1.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.84%	0.50%	+0.34%

Volatility

JHPI vs. FHYSX - Volatility Comparison

John Hancock Preferred Income ETF (JHPI) has a higher volatility of 0.80% compared to Federated Hermes High-Yield Strategy Portfolio (FHYSX) at 0.53%. This indicates that JHPI's price experiences larger fluctuations and is considered to be riskier than FHYSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JHPI	FHYSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.80%	0.53%	+0.27%
Volatility (6M) Calculated over the trailing 6-month period	2.61%	2.67%	-0.06%
Volatility (1Y) Calculated over the trailing 1-year period	3.39%	3.40%	-0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.22%	5.24%	+0.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.22%	5.72%	+0.50%

JHPI vs. FHYSX - Expense Ratio Comparison

JHPI has a 0.54% expense ratio, which is higher than FHYSX's 0.02% expense ratio.

Dividends

JHPI vs. FHYSX - Dividend Comparison

JHPI's dividend yield for the trailing twelve months is around 5.90%, more than FHYSX's 5.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FHYSX Federated Hermes High-Yield Strategy Portfolio	5.84%	6.28%	5.84%	5.30%	5.27%	4.54%	5.74%	6.18%	6.61%	6.98%	6.45%	8.45%
JHPI John Hancock Preferred Income ETF	5.90%	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

Can I hold both JHPI and FHYSX in my portfolio?

JHPI and FHYSX have a correlation of 0.26, 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 FHYSX?

JHPI has higher volatility (0.80%) compared to FHYSX (0.53%). In terms of maximum drawdown, JHPI dropped -13.45% vs FHYSX's -21.45%.

Which has better risk-adjusted returns?

JHPI currently has the higher Sharpe Ratio (1.56 vs 1.52), 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.