JHPI vs. PRFD

Last updated Jun 4, 2026

JHPI (John Hancock Preferred Income ETF) and PRFD (PIMCO Preferred And Capital Securities Active Exchange-Traded Fund) are both Preferred Stock/Convertible Bonds funds. Both are actively managed. Over the past 3 years, JHPI returned 9.01%/yr vs 9.23%/yr for PRFD. A 0.58 correlation means they provide meaningful diversification when combined. 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 1.67% return, which is significantly higher than PRFD's 1.40% return.

JHPI

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

PRFD

• 1D: -0.20%
• 1M: 0.36%
• YTD: 1.40%
• 6M: 1.56%
• 1Y: 8.04%
• 3Y*: 9.23%
• 5Y*: —
• 10Y*: —

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

JHPI vs. PRFD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JHPI John Hancock Preferred Income ETF	1.67%	7.37%	10.54%	1.57%
PRFD PIMCO Preferred And Capital Securities Active Exchange-Traded Fund	1.40%	8.45%	9.92%	1.83%

Correlation

The correlation between JHPI and PRFD is 0.56, 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	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (All Time) Calculated using the full available price history since Jan 20, 2023	0.58

The correlation between JHPI and PRFD has been stable across timeframes, ranging from 0.56 to 0.58 - a consistent structural relationship.

JHPI vs. PRFD - Sectors Allocation Comparison

Sectors	JHPI	PRFD
Utilities	100.0%	-
Basic Materials	-	-
Communication Services	-	0.3%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	2.0%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-

Return for Risk

JHPI vs. PRFD — 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

PRFD

PRFD Risk / Return Rank: 69
PRFD Sharpe Ratio Rank: 77
PRFD Sortino Ratio Rank: 78
PRFD Omega Ratio Rank: 84
PRFD Calmar Ratio Rank: 50
PRFD Martin Ratio Rank: 58

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. 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.

	JHPI	PRFD	Difference
Sharpe ratio Return per unit of total volatility	2.40	2.51	-0.11
Sortino ratio Return per unit of downside risk	3.37	3.51	-0.14
Omega ratio Gain probability vs. loss probability	1.48	1.51	-0.03
Calmar ratio Return relative to maximum drawdown	2.63	2.46	+0.17
Martin ratio Return relative to average drawdown	9.96	10.14	-0.18
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. PRFD - Sharpe Ratio Comparison

The current JHPI Sharpe Ratio is 2.40, which is comparable to the PRFD Sharpe Ratio of 2.51. 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.

Sharpe Ratios by Period

	JHPI	PRFD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.40	2.51	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	1.31	-0.71

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	-5.26%	-6.28%	+1.02%
Current Drawdown Current decline from peak	-0.76%	-0.61%	-0.15%
Average Drawdown Average peak-to-trough decline	-3.75%	-2.23%	-1.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.81%	0.79%	+0.02%

Volatility

JHPI vs. PRFD - Volatility Comparison

The current volatility for John Hancock Preferred Income ETF (JHPI) is 1.02%, while PIMCO Preferred And Capital Securities Active Exchange-Traded Fund (PRFD) has a volatility of 1.19%. This indicates that JHPI experiences smaller price fluctuations and is considered to be less risky than PRFD based on this measure. 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	1.02%	1.19%	-0.17%
Volatility (6M) Calculated over the trailing 6-month period	2.51%	2.68%	-0.17%
Volatility (1Y) Calculated over the trailing 1-year period	3.37%	3.21%	+0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.30%	4.88%	+1.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.30%	4.88%	+1.42%

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 5.80%, which matches PRFD's 5.77% yield.

Position	TTM	2025	2024	2023	2022	2021
JHPI John Hancock Preferred Income ETF	5.80%	5.73%	6.32%	6.44%	6.27%	0.24%
PRFD PIMCO Preferred And Capital Securities Active Exchange-Traded Fund	5.77%	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 0.56, 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 (1.19%) compared to JHPI (1.02%). 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, PRFD leads with 9.23% vs 9.01% for JHPI. On fees, JHPI is cheaper at 0.54% 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 PRFD?

Over the 3-year period, PRFD has performed better with a 9.23% 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 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 has the higher dividend yield at 5.80%, compared with 5.77% for PRFD.

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?

PRFD currently has the higher Sharpe Ratio (2.51 vs 2.40), 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.