HPI vs QQQ
John Hancock Preferred Income Fund vs Invesco QQQ Trust, Series 1
Which is better, HPI or QQQ?
Preferred Stock against Large Cap Growth.
QQQ has a lower expense ratio. QQQ 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 46.5%.
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 | QQQ |
|---|---|---|
| Expense Ratio | 2.31% | 0.18%Best |
| AUM | $443M | $483.5B |
| Dividend Yield | 9.87% | 0.44% |
| Holdings | 175 | 107 |
| YTD Return | -3.67% | +15.94%Best |
| 1Y Return | -4.27% | +20.44%Best |
| 3Y Return (annualized) | +9.22% | +24.86%Best |
| 5Y Return (annualized) | +1.20% | +14.26%Best |
| Volatility (annualized) | 19.7% | 18.9%Best |
| Max Drawdown | -75.0% | -53.5%Best |
| $10,000 over 5 years | $10,615 | $19,475Best |
| Top 10 Weight | 21.0%Best | 46.5% |
| Fund Family | John Hancock Investment Management | Invesco (US) |
| Category | Allocation/Balanced | Equity |
| Style | Preferred Stock | Large Cap Growth |
| Inception | Aug 27, 2002 | Mar 10, 1999 |
Volatility and max drawdown are measured over the window both funds cover: Aug 23, 2002 to Sep 14, 2026 (24.1 years).
HPI 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.
HPI vs QQQ Performance
John Hancock Preferred Income Fund (HPI) 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 HPI returned -4.27% while QQQ returned +20.44%. Year to date, HPI is down 3.67% versus a gain of 15.94% for QQQ.
Over three years, HPI compounded at +9.22% per year against +24.86% for QQQ; over five years the annualized figures are +1.20% and +14.26% respectively. Across the full 24-year window we track, QQQ has the edge at +15.04% annualized vs -0.14%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
HPI has been the more volatile fund, with annualized monthly volatility of 19.7% compared with 18.9% 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 -75.0% for HPI 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 0.36. They move together some of the time, and apart the rest.
Fees and Cost Over Time
HPI charges 2.31% per year while QQQ charges 0.18%. On a $10,000 position that is $231 vs $18 annually, a gap of $213 per year that compounds over a long holding period. On income, HPI currently yields 9.87% against 0.44% for QQQ.
Holdings Overlap
2.1% of HPI's money is in holdings QQQ also owns. 0.3% of QQQ's money is in holdings HPI also owns.
HPI and QQQ share little of their money.
The two holdings books were reported 159 days apart, HPI as of Feb 27, 2026 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 94 positions we hold weights for in HPI and 102 in QQQ, against full books of 175 and 107.
What only one of them owns
Our book lists 94 positions for QQQ that do not appear in our book for HPI (97.2% of the fund), and 61 for HPI that do not appear in QQQ (61.1%).
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.
You are not choosing between two funds in isolation.
Whichever of HPI 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, HPI or QQQ?
HPI has an expense ratio of 2.31% while QQQ charges 0.18%. QQQ is the cheaper option, by $213 a year on a $10,000 investment.
Which performed better, HPI or QQQ?
Over the past year HPI returned -4.27% vs +20.44% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (24 years), HPI annualized -0.14% vs +15.04% for QQQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HPI or QQQ?
HPI has been the more volatile fund at 19.7% annualized versus 18.9% for QQQ. Worst drawdown: HPI -75.0% vs QQQ -53.5%.
Should I hold both HPI and QQQ?
HPI and QQQ have a monthly-return correlation of 0.36, 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 QQQ?
2.1% of HPI's money is in holdings QQQ also owns. 0.3% of QQQ's is in holdings HPI also owns. They hold 2 positions in common, counted across the 94 positions we hold weights for in HPI and 102 in QQQ.
Which pays a higher dividend, HPI or QQQ?
HPI yields 9.87% while QQQ yields 0.44%, so HPI currently pays the higher dividend yield.
Is QQQ better than HPI?
QQQ has a lower expense ratio. QQQ 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 46.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.