HPF vs QQQ
John Hancock Preferred Income Fund II vs Invesco QQQ Trust, Series 1
Which is better, HPF or QQQ?
Preferred Stock against Large Cap Growth.
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | HPF | QQQ |
|---|---|---|
| Expense Ratio | 1.82% | 0.18%Best |
| AUM | $355M | $486.1B |
| Dividend Yield | 9.88% | 0.44% |
| Holdings | 169 | 107 |
| YTD Return | +0.72% | +17.54%Best |
| 1Y Return | +3.07% | +25.59%Best |
| 3Y Return (annualized) | +10.12% | +24.63%Best |
| 5Y Return (annualized) | +1.25% | +14.18%Best |
| Volatility (annualized) | 19.1% | 18.3%Best |
| Max Drawdown | -74.3% | -53.5%Best |
| $10,000 over 5 years | $10,641 | $19,407Best |
| Fund Family | John Hancock Investment Management | Invesco (US) |
| Category | Allocation/Balanced | Equity |
| Style | Preferred Stock | Large Cap Growth |
| Inception | Nov 29, 2002 | Mar 10, 1999 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Nov 26, 2002 to Sep 4, 2026 (23.8 years).
HPF vs QQQ growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
HPF vs QQQ Performance
John Hancock Preferred Income Fund II (HPF) is an ETF from John Hancock Investment Management and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year HPF returned +3.07% while QQQ returned +25.59%. Year to date, HPF is up 0.72% versus a gain of 17.54% for QQQ.
Over three years, HPF compounded at +10.12% per year against +24.63% for QQQ; over five years the annualized figures are +1.25% and +14.18% respectively. Across the full 24-year window we track, QQQ has the edge at +14.95% annualized vs -0.04%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
HPF has been the more volatile fund, with annualized monthly volatility of 19.1% compared with 18.3% for QQQ. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -74.3% for HPF and -53.5% for QQQ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.37. They move together some of the time, and apart the rest.
Fees and Cost Over Time
HPF charges 1.82% per year while QQQ charges 0.18%. On a $10,000 position that is $182 vs $18 annually, a gap of $164 per year that compounds over a long holding period. On income, HPF currently yields 9.88% against 0.44% for QQQ.
Holdings Overlap
At least 0.3% of QQQ's money is in holdings HPF also owns.
Stated as a floor: for HPF, our book for it covers 50.3% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
We cannot see either book well enough to say how much of this pair is duplicated.
The two holdings books were reported 217 days apart, HPF as of Dec 31, 2025 and QQQ as of Aug 5, 2026, so some of the difference between them is the time between the two reports rather than the funds.
2 positions in common, counted across the 51 positions we hold weights for in HPF and 102 in QQQ, against full books of 169 and 107.
You are not choosing between two funds in isolation.
Whichever of HPF and QQQ you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, HPF or QQQ?
HPF has an expense ratio of 1.82% while QQQ charges 0.18%. QQQ is the cheaper option, by $164 a year on a $10,000 investment.
Which performed better, HPF or QQQ?
Over the past year HPF returned +3.07% vs +25.59% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (24 years), HPF annualized -0.04% vs +14.95% for QQQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HPF or QQQ?
HPF has been the more volatile fund at 19.1% annualized versus 18.3% for QQQ. Worst drawdown: HPF -74.3% vs QQQ -53.5%.
Should I hold both HPF and QQQ?
HPF and QQQ have a monthly-return correlation of 0.37, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, HPF or QQQ?
HPF yields 9.88% while QQQ yields 0.44%, so HPF currently pays the higher dividend yield.
Is QQQ better than HPF?
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.