PRFD vs. JHPI

Last updated Jun 4, 2026

PRFD (PIMCO Preferred And Capital Securities Active Exchange-Traded Fund) and JHPI (John Hancock Preferred Income ETF) are both Preferred Stock/Convertible Bonds funds. Both are actively managed. Over the past 3 years, PRFD returned 9.23%/yr vs 9.01%/yr for JHPI. A 0.58 correlation means they provide meaningful diversification when combined. PRFD charges 0.74%/yr vs 0.54%/yr for JHPI.

Performance

PRFD vs. JHPI - Performance Comparison

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

Returns By Period

In the year-to-date period, PRFD achieves a 1.40% return, which is significantly lower than JHPI's 1.67% return.

PRFD

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

JHPI

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

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

PRFD vs. JHPI - Yearly Performance Comparison

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

Correlation

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

PRFD vs. JHPI - Sectors Allocation Comparison

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

Return for Risk

PRFD vs. JHPI — Risk / Return Rank

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

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

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

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.

PRFD vs. JHPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Preferred And Capital Securities Active Exchange-Traded Fund (PRFD) and John Hancock Preferred Income ETF (JHPI). 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.

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

PRFD vs. JHPI - Sharpe Ratio Comparison

The current PRFD Sharpe Ratio is 2.51, which is comparable to the JHPI Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of PRFD and JHPI, 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

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

Drawdowns

PRFD vs. JHPI - Drawdown Comparison

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

Drawdown Indicators

	PRFD	JHPI	Difference
Max Drawdown Largest peak-to-trough decline	-11.93%	-13.45%	+1.52%
Max Drawdown (1Y) Largest decline over 1 year	-3.28%	-3.08%	-0.20%
Max Drawdown (3Y) Largest decline over 3 years	-6.28%	-5.26%	-1.02%
Current Drawdown Current decline from peak	-0.61%	-0.76%	+0.15%
Average Drawdown Average peak-to-trough decline	-2.23%	-3.75%	+1.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.79%	0.81%	-0.02%

Volatility

PRFD vs. JHPI - Volatility Comparison

PIMCO Preferred And Capital Securities Active Exchange-Traded Fund (PRFD) has a higher volatility of 1.19% compared to John Hancock Preferred Income ETF (JHPI) at 1.02%. This indicates that PRFD's price experiences larger fluctuations and is considered to be riskier than JHPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRFD	JHPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.19%	1.02%	+0.17%
Volatility (6M) Calculated over the trailing 6-month period	2.68%	2.51%	+0.17%
Volatility (1Y) Calculated over the trailing 1-year period	3.21%	3.37%	-0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.88%	6.30%	-1.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.88%	6.30%	-1.42%

PRFD vs. JHPI - Expense Ratio Comparison

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

Dividends

PRFD vs. JHPI - Dividend Comparison

PRFD's dividend yield for the trailing twelve months is around 5.77%, which matches JHPI's 5.80% 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 PRFD and JHPI in my portfolio?

PRFD and JHPI 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, PRFD or JHPI?

PRFD has higher volatility (1.19%) compared to JHPI (1.02%). In terms of maximum drawdown, PRFD dropped -11.93% vs JHPI's -13.45%.

Which ETF is better, PRFD or JHPI?

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, PRFD or JHPI?

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, PRFD or JHPI?

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

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

JHPI has the higher dividend yield at 5.80%, compared with 5.77% for PRFD.

What is the main difference between PRFD and JHPI?

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

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.