JHPI vs. PRFD

Last updated Aug 4, 2026

JHPI (John Hancock Preferred Income ETF) and PRFD (PIMCO Preferred And Capital Securities Active Exchange-Traded Fund) are both Preferred Stock funds. Both are actively managed. Over the past 3 years, JHPI returned 8.56%/yr vs 8.43%/yr for PRFD. Their 0.58 correlation means they have sometimes moved together and sometimes differently. JHPI charges 0.54%/yr vs 0.74%/yr for PRFD.

Performance

JHPI vs. PRFD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Preferred Income ETF (JHPI) and PIMCO Preferred And Capital Securities Active Exchange-Traded Fund (PRFD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JHPI achieves a 1.91% return, which is significantly higher than PRFD's 1.36% 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%

PRFD

• 1D: 0.31%
• 1M: -0.70%
• 6M: 0.62%
• YTD: 1.36%
• 1Y: 5.10%
• 3Y*: 8.43%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.03%

*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)
JHPI John Hancock Preferred Income ETF	$1.07M	$1.09M	$1.18M
PRFD PIMCO Preferred And Capital Securities Active Exchange-Traded Fund	$2.91M	$1.64M	$1.07M

JHPI vs. PRFD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JHPI John Hancock Preferred Income ETF	1.91%	7.37%	10.54%	1.59%
PRFD PIMCO Preferred And Capital Securities Active Exchange-Traded Fund	1.36%	8.45%	9.92%	1.81%

Correlation

The correlation between JHPI and PRFD is 0.57, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.57
Correlation (3Y) Balances recent behavior with more history.	0.57
Correlation (All Time) Calculated using the full available price history since Jan 19, 2023	0.58

The correlation between JHPI and PRFD has been stable across timeframes, ranging from 0.57 to 0.58 - a consistent structural relationship.

Return for Risk

JHPI vs. PRFD — Risk / Return Rank

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

JHPI

JHPI Risk / Return Rank: 59
JHPI Sharpe Ratio Rank: 65
JHPI Sortino Ratio Rank: 64
JHPI Omega Ratio Rank: 68
JHPI Calmar Ratio Rank: 46
JHPI Martin Ratio Rank: 52

PRFD

PRFD Risk / Return Rank: 57
PRFD Sharpe Ratio Rank: 64
PRFD Sortino Ratio Rank: 62
PRFD Omega Ratio Rank: 68
PRFD Calmar Ratio Rank: 42
PRFD Martin Ratio Rank: 50

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. PRFD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Preferred Income ETF (JHPI) and PIMCO Preferred And Capital Securities Active Exchange-Traded Fund (PRFD). 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	PRFD	Difference
Sharpe ratio: Return per unit of total volatility	1.61	1.59	+0.02
Sortino ratio: Return per unit of downside risk	2.24	2.19	+0.05
Omega ratio: Gain probability vs. loss probability	1.30	1.30	0.00
Calmar ratio: Return relative to maximum drawdown	1.76	1.56	+0.20
Martin ratio: Return relative to average drawdown	6.42	6.16	+0.25

JHPI vs. PRFD - Sharpe Ratio Comparison

The current JHPI Sharpe Ratio is 1.61, which is comparable to the PRFD Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of JHPI and PRFD, 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. PRFD - Drawdown Comparison

The maximum JHPI drawdown since its inception was -13.45%, which is greater than PRFD's maximum drawdown of -11.93%. Use the drawdown chart below to compare losses from any high point for JHPI and PRFD.

Drawdown Indicators

	JHPI	PRFD	Difference
Max Drawdown Largest peak-to-trough decline	-13.45%	-11.93%	-1.52%
Max Drawdown (1Y) Largest decline over 1 year	-3.08%	-3.28%	+0.20%
Max Drawdown (3Y) Largest decline over 3 years	-5.25%	-5.59%	+0.34%
Current Drawdown Current decline from peak	-0.52%	-0.91%	+0.39%
Average Drawdown Average peak-to-trough decline	-3.63%	-2.15%	-1.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.84%	0.83%	+0.01%

Volatility

JHPI vs. PRFD - Volatility Comparison

John Hancock Preferred Income ETF (JHPI) and PIMCO Preferred And Capital Securities Active Exchange-Traded Fund (PRFD) have volatilities of 0.83% and 0.87%, 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	PRFD	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.83%	0.87%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	2.61%	2.65%	-0.04%
Volatility (1Y) Calculated over the trailing 1-year period	3.38%	3.23%	+0.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.21%	4.80%	+1.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.21%	4.80%	+1.41%

JHPI vs. PRFD - Expense Ratio Comparison

JHPI has a 0.54% expense ratio, which is lower than PRFD's 0.74% expense ratio.

Dividends

JHPI vs. PRFD - Dividend Comparison

JHPI's dividend yield for the trailing twelve months is around 5.88%, which matches PRFD's 5.87% yield.

Position	TTM	2025	2024	2023	2022	2021
JHPI John Hancock Preferred Income ETF	5.88%	5.73%	6.32%	6.44%	6.27%	0.24%
PRFD PIMCO Preferred And Capital Securities Active Exchange-Traded Fund	5.87%	5.63%	5.53%	5.04%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JHPI and PRFD in my portfolio?

JHPI and PRFD have a correlation of 0.57, 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 PRFD?

PRFD has higher volatility (0.87%) compared to JHPI (0.83%). In terms of maximum drawdown, JHPI dropped -13.45% vs PRFD's -11.93%.

Which ETF is better, JHPI or PRFD?

On 3-year performance, JHPI leads with 8.56% vs 8.43% for PRFD. On fees, JHPI is cheaper at 0.54% 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 PRFD?

Over the 3-year period, JHPI has performed better with a 8.56% return vs 8.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JHPI or PRFD?

JHPI is cheaper with a 0.54% expense ratio, compared with 0.74% for PRFD.

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

JHPI and PRFD have nearly identical dividend yields, around 5.88%.

What is the main difference between JHPI and PRFD?

They also come from different issuers: John Hancock and PIMCO. Their fees differ too: 0.54% for JHPI and 0.74% for PRFD.

Which has better risk-adjusted returns?

JHPI currently has the higher Sharpe Ratio (1.61 vs 1.59), 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.