HPI vs IVV
John Hancock Preferred Income Fund vs iShares Core S&P 500 ETF
Which is better, HPI or IVV?
Preferred Stock against Large Cap Blend.
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. HPI is less concentrated, with 21.0% of the fund in its ten largest positions against 37.9%.
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 | HPI | IVV |
|---|---|---|
| Expense Ratio | 2.31% | 0.03%Best |
| AUM | $443M | $876.4B |
| Dividend Yield | 9.87% | 1.06% |
| Holdings | 175 | 508 |
| YTD Return | +0.02% | +12.24%Best |
| 1Y Return | +1.45% | +18.61%Best |
| 3Y Return (annualized) | +10.55% | +20.98%Best |
| 5Y Return (annualized) | +2.13% | +12.76%Best |
| Volatility (annualized) | 19.6% | 14.8%Best |
| Max Drawdown | -75.0% | -56.5%Best |
| $10,000 over 5 years | $11,111 | $18,230Best |
| Top 10 Weight | 21.0%Best | 37.9% |
| Fund Family | John Hancock Investment Management | iShares by BlackRock (US) |
| Category | Allocation/Balanced | Equity |
| Style | Preferred Stock | Large Cap Blend |
| Inception | Aug 27, 2002 | May 15, 2000 |
Volatility and max drawdown are measured over the window both funds cover: Aug 23, 2002 to Sep 9, 2026 (24 years).
HPI vs IVV 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.
HPI vs IVV Performance
John Hancock Preferred Income Fund (HPI) is an ETF from John Hancock Investment Management and iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US). Over the past year HPI returned +1.45% while IVV returned +18.61%. Year to date, HPI is up 0.02% versus a gain of 12.24% for IVV.
Over three years, HPI compounded at +10.55% per year against +20.98% for IVV; over five years the annualized figures are +2.13% and +12.76% respectively. Across the full 24-year window we track, IVV has the edge at +9.44% annualized vs +0.01%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
HPI has been the more volatile fund, with annualized monthly volatility of 19.6% compared with 14.8% for IVV. 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 -75.0% for HPI and -56.5% for IVV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.44. They move together some of the time, and apart the rest.
Fees and Cost Over Time
HPI charges 2.31% per year while IVV charges 0.03%. On a $10,000 position that is $231 vs $3 annually, a gap of $228 per year that compounds over a long holding period. On income, HPI currently yields 9.87% against 1.06% for IVV.
Holdings Overlap
25.6% of HPI's money is in holdings IVV also owns. 4.1% of IVV's money is in holdings HPI also owns.
HPI and IVV share little of their money.
The two holdings books were reported 159 days apart, HPI as of Feb 27, 2026 and IVV as of Aug 5, 2026, so some of the difference between them is the time between the two reports rather than the funds.
24 positions in common, counted across the 94 positions we hold weights for in HPI and 505 in IVV, against full books of 175 and 508.
What only one of them owns
Our book lists 472 positions for IVV that do not appear in our book for HPI (95.2% of the fund), and 40 for HPI that do not appear in IVV (38.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in HPI | Weight in IVV | Difference |
|---|---|---|---|
| WFCWells Fargo & Co. | 2.72% | 0.41% | 2.31% |
| JPMJpmorgan Chase | 1.13% | 1.45% | 0.32% |
| MSMorgan Stanley | 1.51% | 0.39% | 1.12% |
| DUKDuke Energy Corp | 1.65% | 0.14% | 1.51% |
| NRGNrg Energy | 1.73% | 0.04% | 1.69% |
| PCGPacific Gas & Electric | 1.33% | 0.06% | 1.27% |
| KKRKkr & Co. Inc. Class a | 1.28% | 0.11% | 1.17% |
| NEENextera Energy Inc - Common | 1.10% | 0.27% | 0.83% |
| MTBM&T Bank Corp | 1.20% | 0.06% | 1.14% |
| FITBFifth Third Bancorp | 1.12% | 0.08% | 1.04% |
25.6% of HPI is already inside IVV.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, HPI or IVV?
HPI has an expense ratio of 2.31% while IVV charges 0.03%. IVV is the cheaper option, by $228 a year on a $10,000 investment.
Which performed better, HPI or IVV?
Over the past year HPI returned +1.45% vs +18.61% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (24 years), HPI annualized +0.01% vs +9.44% for IVV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HPI or IVV?
HPI has been the more volatile fund at 19.6% annualized versus 14.8% for IVV. Worst drawdown: HPI -75.0% vs IVV -56.5%.
Should I hold both HPI and IVV?
HPI and IVV have a monthly-return correlation of 0.44, 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 HPI and IVV?
25.6% of HPI's money is in holdings IVV also owns. 4.1% of IVV's is in holdings HPI also owns. They hold 24 positions in common, counted across the 94 positions we hold weights for in HPI and 505 in IVV.
Which pays a higher dividend, HPI or IVV?
HPI yields 9.87% while IVV yields 1.06%, so HPI currently pays the higher dividend yield.
Is IVV better than HPI?
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. HPI is less concentrated, with 21.0% of the fund in its ten largest positions against 37.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.