JHPI vs. PFFR

Last updated Jun 4, 2026

JHPI (John Hancock Preferred Income ETF) and PFFR (InfraCap REIT Preferred ETF) are both Preferred Stock/Convertible Bonds funds. JHPI is actively managed, while PFFR is passively managed. Over the past 3 years, JHPI returned 9.01%/yr vs 9.27%/yr for PFFR. A 0.60 correlation means they provide meaningful diversification when combined. JHPI charges 0.54%/yr vs 0.45%/yr for PFFR.

Performance

JHPI vs. PFFR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Preferred Income ETF (JHPI) and InfraCap REIT Preferred ETF (PFFR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JHPI achieves a 1.67% return, which is significantly higher than PFFR's 0.80% return.

JHPI

• 1D: -0.39%
• 1M: -0.16%
• YTD: 1.67%
• 6M: 2.16%
• 1Y: 8.04%
• 3Y*: 9.01%
• 5Y*: —
• 10Y*: —

PFFR

• 1D: -0.22%
• 1M: -0.75%
• YTD: 0.80%
• 6M: 0.96%
• 1Y: 6.82%
• 3Y*: 9.27%
• 5Y*: 0.97%
• 10Y*: —

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

JHPI vs. PFFR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
JHPI John Hancock Preferred Income ETF	1.67%	7.37%	10.54%	7.25%	-9.55%	0.62%
PFFR InfraCap REIT Preferred ETF	0.80%	5.36%	7.12%	21.04%	-23.90%	1.52%

Correlation

The correlation between JHPI and PFFR is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (All Time) Calculated using the full available price history since Dec 16, 2021	0.60

The correlation between JHPI and PFFR has been stable across timeframes, ranging from 0.52 to 0.60 - a consistent structural relationship.

JHPI vs. PFFR - Sectors Allocation Comparison

Sectors	JHPI	PFFR
Utilities	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	5.3%
Healthcare	-	-
Industrials	-	-
Real Estate	-	84.9%
Technology	-	-

Return for Risk

JHPI vs. PFFR — Risk / Return Rank

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

JHPI

JHPI Risk / Return Rank: 68
JHPI Sharpe Ratio Rank: 74
JHPI Sortino Ratio Rank: 75
JHPI Omega Ratio Rank: 79
JHPI Calmar Ratio Rank: 53
JHPI Martin Ratio Rank: 57

PFFR

PFFR Risk / Return Rank: 23
PFFR Sharpe Ratio Rank: 24
PFFR Sortino Ratio Rank: 23
PFFR Omega Ratio Rank: 23
PFFR Calmar Ratio Rank: 23
PFFR Martin Ratio Rank: 20

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. PFFR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Preferred Income ETF (JHPI) and InfraCap REIT Preferred ETF (PFFR). 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.

	JHPI	PFFR	Difference
Sharpe ratio: Return per unit of total volatility	2.40	0.87	+1.53
Sortino ratio: Return per unit of downside risk	3.37	1.27	+2.10
Omega ratio: Gain probability vs. loss probability	1.48	1.16	+0.32
Calmar ratio: Return relative to maximum drawdown	2.63	1.04	+1.58
Martin ratio: Return relative to average drawdown	9.96	2.44	+7.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JHPI vs. PFFR - Sharpe Ratio Comparison

The current JHPI Sharpe Ratio is 2.40, which is higher than the PFFR Sharpe Ratio of 0.87. The chart below compares the historical Sharpe Ratios of JHPI and PFFR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JHPI	PFFR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.40	0.87	+1.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.09	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.16	+0.44

Drawdowns

JHPI vs. PFFR - Drawdown Comparison

The maximum JHPI drawdown since its inception was -13.45%, smaller than the maximum PFFR drawdown of -53.02%. Use the drawdown chart below to compare losses from any high point for JHPI and PFFR.

Drawdown Indicators

	JHPI	PFFR	Difference
Max Drawdown Largest peak-to-trough decline	-13.45%	-53.02%	+39.57%
Max Drawdown (1Y) Largest decline over 1 year	-3.08%	-6.57%	+3.49%
Max Drawdown (3Y) Largest decline over 3 years	-5.26%	-11.16%	+5.90%
Max Drawdown (5Y) Largest decline over 5 years	—	-29.80%	—
Current Drawdown Current decline from peak	-0.76%	-3.05%	+2.29%
Average Drawdown Average peak-to-trough decline	-3.75%	-7.00%	+3.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.81%	2.80%	-1.99%

Volatility

JHPI vs. PFFR - Volatility Comparison

The current volatility for John Hancock Preferred Income ETF (JHPI) is 1.02%, while InfraCap REIT Preferred ETF (PFFR) has a volatility of 2.81%. This indicates that JHPI experiences smaller price fluctuations and is considered to be less risky than PFFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JHPI	PFFR	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.02%	2.81%	-1.79%
Volatility (6M) Calculated over the trailing 6-month period	2.51%	6.14%	-3.63%
Volatility (1Y) Calculated over the trailing 1-year period	3.37%	7.91%	-4.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.30%	10.47%	-4.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.30%	20.54%	-14.24%

JHPI vs. PFFR - Expense Ratio Comparison

JHPI has a 0.54% expense ratio, which is higher than PFFR's 0.45% expense ratio.

Dividends

JHPI vs. PFFR - Dividend Comparison

JHPI's dividend yield for the trailing twelve months is around 5.80%, less than PFFR's 8.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
JHPI John Hancock Preferred Income ETF	5.80%	5.73%	6.32%	6.44%	6.27%	0.24%	0.00%	0.00%	0.00%	0.00%
PFFR InfraCap REIT Preferred ETF	8.29%	7.99%	7.78%	7.72%	8.60%	6.08%	6.11%	5.77%	6.48%	6.59%

Frequently Asked Questions

Can I hold both JHPI and PFFR in my portfolio?

JHPI and PFFR have a correlation of 0.55, 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 PFFR?

PFFR has higher volatility (2.81%) compared to JHPI (1.02%). In terms of maximum drawdown, JHPI dropped -13.45% vs PFFR's -53.02%.

Which ETF is better, JHPI or PFFR?

On 3-year performance, PFFR leads with 9.27% vs 9.01% for JHPI. On fees, PFFR is cheaper at 0.45% per year. On volatility, JHPI has been the lower-risk option at 1.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JHPI or PFFR?

Over the 3-year period, PFFR has performed better with a 9.27% return vs 9.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JHPI or PFFR?

PFFR is cheaper with a 0.45% expense ratio, compared with 0.54% for JHPI.

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

PFFR has the higher dividend yield at 8.29%, compared with 5.80% for JHPI.

What is the main difference between JHPI and PFFR?

They also come from different issuers: John Hancock and Virtus Investment Partners. Their fees differ too: 0.54% for JHPI and 0.45% for PFFR.

Which has better risk-adjusted returns?

JHPI currently has the higher Sharpe Ratio (2.40 vs 0.87), 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.