JHPI vs. JBND

Last updated Jun 24, 2026

JHPI (John Hancock Preferred Income ETF) and JBND (Jpmorgan Active Bond ETF) are both exchange-traded funds - JHPI is a Preferred Stock/Convertible Bonds fund actively managed by John Hancock, while JBND is a Intermediate Core Bond fund actively managed by JPMorgan. Both are actively managed. Over the past year, JHPI returned 7.16% vs 4.74% for JBND. At a 0.44 correlation, their price movements are largely independent. JHPI charges 0.54%/yr vs 0.30%/yr for JBND.

Performance

JHPI vs. JBND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Preferred Income ETF (JHPI) and Jpmorgan Active Bond ETF (JBND). 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 JBND's 0.39% return.

JHPI

• 1D: -0.11%
• 1M: 0.11%
• YTD: 1.69%
• 6M: 1.78%
• 1Y: 7.16%
• 3Y*: 9.15%
• 5Y*: —
• 10Y*: —

JBND

• 1D: 0.04%
• 1M: 0.55%
• YTD: 0.39%
• 6M: 0.57%
• 1Y: 4.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JHPI vs. JBND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JHPI John Hancock Preferred Income ETF	1.69%	7.37%	10.54%	9.13%
JBND Jpmorgan Active Bond ETF	0.39%	8.21%	3.19%	7.43%

Correlation

The correlation between JHPI and JBND is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (All Time) Calculated using the full available price history since Oct 12, 2023	0.44

Return for Risk

JHPI vs. JBND — Risk / Return Rank

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

JHPI

JHPI Risk / Return Rank: 64
JHPI Sharpe Ratio Rank: 70
JHPI Sortino Ratio Rank: 71
JHPI Omega Ratio Rank: 73
JHPI Calmar Ratio Rank: 51
JHPI Martin Ratio Rank: 54

JBND

JBND Risk / Return Rank: 35
JBND Sharpe Ratio Rank: 37
JBND Sortino Ratio Rank: 38
JBND Omega Ratio Rank: 34
JBND Calmar Ratio Rank: 34
JBND Martin Ratio Rank: 33

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. JBND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Preferred Income ETF (JHPI) and Jpmorgan Active Bond ETF (JBND). 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	JBND	Difference
Sharpe ratio: Return per unit of total volatility	2.09	1.26	+0.82
Sortino ratio: Return per unit of downside risk	2.93	1.89	+1.04
Omega ratio: Gain probability vs. loss probability	1.40	1.22	+0.18
Calmar ratio: Return relative to maximum drawdown	2.34	1.62	+0.72
Martin ratio: Return relative to average drawdown	8.71	4.64	+4.08

JHPI vs. JBND - Sharpe Ratio Comparison

The current JHPI Sharpe Ratio is 2.09, which is higher than the JBND Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of JHPI and JBND, 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. JBND - Drawdown Comparison

The maximum JHPI drawdown since its inception was -13.45%, which is greater than JBND's maximum drawdown of -4.48%. Use the drawdown chart below to compare losses from any high point for JHPI and JBND.

Drawdown Indicators

	JHPI	JBND	Difference
Max Drawdown Largest peak-to-trough decline	-13.45%	-4.48%	-8.97%
Max Drawdown (1Y) Largest decline over 1 year	-3.08%	-2.94%	-0.14%
Max Drawdown (3Y) Largest decline over 3 years	-5.26%	—	—
Current Drawdown Current decline from peak	-0.73%	-1.58%	+0.85%
Average Drawdown Average peak-to-trough decline	-3.71%	-1.16%	-2.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.82%	1.02%	-0.20%

Volatility

JHPI vs. JBND - Volatility Comparison

John Hancock Preferred Income ETF (JHPI) and Jpmorgan Active Bond ETF (JBND) have volatilities of 1.10% and 1.09%, 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

	JHPI	JBND	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.10%	1.09%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	2.62%	2.76%	-0.14%
Volatility (1Y) Calculated over the trailing 1-year period	3.45%	3.77%	-0.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.28%	4.83%	+1.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.28%	4.83%	+1.45%

JHPI vs. JBND - Expense Ratio Comparison

JHPI has a 0.54% expense ratio, which is higher than JBND's 0.30% expense ratio.

Dividends

JHPI vs. JBND - Dividend Comparison

JHPI's dividend yield for the trailing twelve months is around 5.80%, more than JBND's 4.40% yield.

Position	TTM	2025	2024	2023	2022	2021
JBND Jpmorgan Active Bond ETF	4.40%	4.42%	4.58%	1.00%	0.00%	0.00%
JHPI John Hancock Preferred Income ETF	5.80%	5.73%	6.32%	6.44%	6.27%	0.24%

Frequently Asked Questions

Can I hold both JHPI and JBND in my portfolio?

JHPI and JBND have a correlation of 0.46, 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 JBND?

JHPI has higher volatility (1.10%) compared to JBND (1.09%). In terms of maximum drawdown, JHPI dropped -13.45% vs JBND's -4.48%.

Which ETF is better, JHPI or JBND?

On 1-year performance, JHPI leads with 7.16% vs 4.74% for JBND. On fees, JBND is cheaper at 0.30% 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, JHPI or JBND?

Over the 1-year period, JHPI has performed better with a 7.16% return vs 4.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JHPI or JBND?

JBND is cheaper with a 0.30% expense ratio, compared with 0.54% for JHPI.

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

JHPI has the higher dividend yield at 5.80%, compared with 4.40% for JBND.

What is the main difference between JHPI and JBND?

JHPI is categorized as Preferred Stock/Convertible Bonds, while JBND is Intermediate Core Bond. They also come from different issuers: John Hancock and JPMorgan. Their fees differ too: 0.54% for JHPI and 0.30% for JBND.

Which has better risk-adjusted returns?

JHPI currently has the higher Sharpe Ratio (2.09 vs 1.26), 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.