JHPI vs. JHCP

Last updated Aug 2, 2026

JHPI (John Hancock Preferred Income ETF) and JHCP (John Hancock Core Plus Bond ETF) are both exchange-traded funds - JHPI is a Preferred Stock fund actively managed by John Hancock, while JHCP is a Intermediate Core-Plus Bond fund actively managed by John Hancock. Both are actively managed. Over the past year, JHPI returned 5.17% vs 2.62% for JHCP. Their 0.45 correlation means their historical movements had little consistent relationship. JHPI charges 0.54%/yr vs 0.36%/yr for JHCP.

Performance

JHPI vs. JHCP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Preferred Income ETF (JHPI) and John Hancock Core Plus Bond ETF (JHCP). 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 JHCP's -0.21% 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%

JHCP

• 1D: 0.02%
• 1M: -1.13%
• 6M: -0.79%
• YTD: -0.21%
• 1Y: 2.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.82%

*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)
JHCP John Hancock Core Plus Bond ETF	$5.40M	$6.59M	$2.64M
JHPI John Hancock Preferred Income ETF	$1.18M	$1.11M	$1.20M

JHPI vs. JHCP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JHPI John Hancock Preferred Income ETF	1.69%	7.37%	-0.89%
JHCP John Hancock Core Plus Bond ETF	-0.21%	7.59%	-1.05%

Correlation

The correlation between JHPI and JHCP is 0.47, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.47
Correlation (All Time) Calculated using the full available price history since Dec 18, 2024	0.45

Return for Risk

JHPI vs. JHCP — 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

JHCP

JHCP Risk / Return Rank: 32
JHCP Sharpe Ratio Rank: 33
JHCP Sortino Ratio Rank: 31
JHCP Omega Ratio Rank: 28
JHCP Calmar Ratio Rank: 35
JHCP Martin Ratio Rank: 32

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. JHCP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Preferred Income ETF (JHPI) and John Hancock Core Plus Bond ETF (JHCP). 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	JHCP	Difference
Sharpe ratio: Return per unit of total volatility	1.56	0.81	+0.75
Sortino ratio: Return per unit of downside risk	2.17	1.19	+0.98
Omega ratio: Gain probability vs. loss probability	1.29	1.14	+0.16
Calmar ratio: Return relative to maximum drawdown	1.71	1.21	+0.50
Martin ratio: Return relative to average drawdown	6.22	2.93	+3.29

JHPI vs. JHCP - Sharpe Ratio Comparison

The current JHPI Sharpe Ratio is 1.56, which is higher than the JHCP Sharpe Ratio of 0.81. The chart below compares the historical Sharpe Ratios of JHPI and JHCP, 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. JHCP - Drawdown Comparison

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

Drawdown Indicators

	JHPI	JHCP	Difference
Max Drawdown Largest peak-to-trough decline	-13.45%	-3.06%	-10.39%
Max Drawdown (1Y) Largest decline over 1 year	-3.08%	-2.82%	-0.26%
Max Drawdown (3Y) Largest decline over 3 years	-5.25%	—	—
Current Drawdown Current decline from peak	-0.74%	-2.10%	+1.36%
Average Drawdown Average peak-to-trough decline	-3.64%	-0.93%	-2.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.84%	1.16%	-0.32%

Volatility

JHPI vs. JHCP - Volatility Comparison

The current volatility for John Hancock Preferred Income ETF (JHPI) is 0.80%, while John Hancock Core Plus Bond ETF (JHCP) has a volatility of 1.06%. This indicates that JHPI experiences smaller price fluctuations and is considered to be less risky than JHCP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JHPI	JHCP	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.80%	1.06%	-0.26%
Volatility (6M) Calculated over the trailing 6-month period	2.61%	3.00%	-0.39%
Volatility (1Y) Calculated over the trailing 1-year period	3.39%	4.21%	-0.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.22%	4.79%	+1.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.22%	4.79%	+1.43%

JHPI vs. JHCP - Expense Ratio Comparison

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

Dividends

JHPI vs. JHCP - Dividend Comparison

JHPI's dividend yield for the trailing twelve months is around 5.90%, more than JHCP's 4.55% yield.

Position	TTM	2025	2024	2023	2022	2021
JHCP John Hancock Core Plus Bond ETF	4.55%	4.79%	0.20%	0.00%	0.00%	0.00%
JHPI John Hancock Preferred Income ETF	5.90%	5.73%	6.32%	6.44%	6.27%	0.24%

Frequently Asked Questions

Can I hold both JHPI and JHCP in my portfolio?

JHPI and JHCP 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, JHPI or JHCP?

JHCP has higher volatility (1.06%) compared to JHPI (0.80%). In terms of maximum drawdown, JHPI dropped -13.45% vs JHCP's -3.06%.

Which ETF is better, JHPI or JHCP?

On 1-year performance, JHPI leads with 5.17% vs 2.62% for JHCP. On fees, JHCP is cheaper at 0.36% per year. On volatility, JHPI has been the lower-risk option at 0.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JHPI or JHCP?

Over the 1-year period, JHPI has performed better with a 5.17% return vs 2.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JHPI or JHCP?

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

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

JHPI has the higher dividend yield at 5.90%, compared with 4.55% for JHCP.

What is the main difference between JHPI and JHCP?

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

Which has better risk-adjusted returns?

JHPI currently has the higher Sharpe Ratio (1.56 vs 0.81), 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.