HPF vs VYM
John Hancock Preferred Income Fund II vs Vanguard High Dividend Yield ETF
Which is better, HPF or VYM?
Preferred Stock against Large Cap Value.
VYM has a lower expense ratio. VYM 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 | VYM |
|---|---|---|
| Expense Ratio | 1.82% | 0.04%Best |
| AUM | $355M | $81.6B |
| Dividend Yield | 9.88% | 2.24% |
| Holdings | 169 | 613 |
| YTD Return | +0.72% | +14.82%Best |
| 1Y Return | +3.07% | +20.84%Best |
| 3Y Return (annualized) | +10.12% | +18.64%Best |
| 5Y Return (annualized) | +1.25% | +12.28%Best |
| Volatility (annualized) | 20.3% | 14.5%Best |
| Max Drawdown | -72.8% | -58.8%Best |
| $10,000 over 5 years | $10,641 | $17,845Best |
| Fund Family | John Hancock Investment Management | Vanguard (US) |
| Category | Allocation/Balanced | Equity |
| Style | Preferred Stock | Large Cap Value |
| Inception | Nov 29, 2002 | Nov 10, 2006 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Nov 16, 2006 to Sep 4, 2026 (19.8 years).
HPF vs VYM 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 covers the 19.8 years both funds cover.
HPF vs VYM Performance
John Hancock Preferred Income Fund II (HPF) is an ETF from John Hancock Investment Management and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year HPF returned +3.07% while VYM returned +20.84%. Year to date, HPF is up 0.72% versus a gain of 14.82% for VYM.
Over three years, HPF compounded at +10.12% per year against +18.64% for VYM; over five years the annualized figures are +1.25% and +12.28% respectively. Across the full 20-year window we track, VYM has the edge at +7.00% annualized vs -0.06%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
HPF has been the more volatile fund, with annualized monthly volatility of 20.3% compared with 14.5% for VYM. 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 -72.8% for HPF and -58.8% for VYM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.47. They move together some of the time, and apart the rest.
Fees and Cost Over Time
HPF charges 1.82% per year while VYM charges 0.04%. On a $10,000 position that is $182 vs $4 annually, a gap of $178 per year that compounds over a long holding period. On income, HPF currently yields 9.88% against 2.24% for VYM.
Holdings Overlap
At least 7.0% of VYM'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.
VYM and HPF share little of their money.
The two holdings books were reported 181 days apart, HPF as of Dec 31, 2025 and VYM as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
29 positions in common, counted across the 51 positions we hold weights for in HPF and 603 in VYM, against full books of 169 and 613.
Top Shared Holdings
| Stock | Weight in HPF | Weight in VYM | Difference |
|---|---|---|---|
| BACBank Of America Corp | 2.56% | 1.56% | 1.00% |
| WFCWells Fargo & Co. | 2.65% | 1.05% | 1.60% |
| MSMorgan Stanley | 0.95% | 0.97% | 0.02% |
| NEENextera Energy Inc | 1.11% | 0.76% | 0.35% |
| RGAReinsurance Group of America, Incorporated | 1.47% | 0.06% | 1.41% |
| APOAthene (Ath) / Apollo Global Management (Apo) | 1.32% | 0.21% | 1.11% |
| LNCLincoln National Corp. | 1.41% | 0.03% | 1.38% |
| SYFSynchrony Financial | 1.25% | 0.11% | 1.14% |
| MTBM&T Bank Corp | 1.14% | 0.15% | 0.99% |
| FGFg 7.3 | 1.25% | 0.00% | 1.25% |
You are not choosing between two funds in isolation.
Whichever of HPF and VYM 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 VYM?
HPF has an expense ratio of 1.82% while VYM charges 0.04%. VYM is the cheaper option, by $178 a year on a $10,000 investment.
Which performed better, HPF or VYM?
Over the past year HPF returned +3.07% vs +20.84% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (20 years), HPF annualized -0.06% vs +7.00% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HPF or VYM?
HPF has been the more volatile fund at 20.3% annualized versus 14.5% for VYM. Worst drawdown: HPF -72.8% vs VYM -58.8%.
Should I hold both HPF and VYM?
HPF and VYM have a monthly-return correlation of 0.47, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between HPF and VYM?
At least 7.0% of VYM's money is in holdings HPF also owns. Our book for HPF is partial, so the real figure is this or higher. They hold 29 positions in common, counted across the 51 positions we hold weights for in HPF and 603 in VYM.
Which pays a higher dividend, HPF or VYM?
HPF yields 9.88% while VYM yields 2.24%, so HPF currently pays the higher dividend yield.
Is VYM better than HPF?
VYM has a lower expense ratio. VYM 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.