HPI vs VTI
John Hancock Preferred Income Fund vs Vanguard Morningstar Total Stock Market ETF
Which is better, HPI or VTI?
Preferred Stock against Large Cap Blend.
VTI has a lower expense ratio. VTI 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 33.3%.
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 | VTI |
|---|---|---|
| Expense Ratio | 2.31% | 0.03%Best |
| AUM | $443M | $666.9B |
| Dividend Yield | 9.87% | 1.03% |
| Holdings | 175 | 3,543 |
| YTD Return | -3.67% | +12.08%Best |
| 1Y Return | -4.27% | +16.31%Best |
| 3Y Return (annualized) | +9.22% | +20.83%Best |
| 5Y Return (annualized) | +1.20% | +11.89%Best |
| Volatility (annualized) | 19.7% | 15.2%Best |
| Max Drawdown | -75.0% | -56.6%Best |
| $10,000 over 5 years | $10,615 | $17,537Best |
| Top 10 Weight | 21.0%Best | 33.3% |
| Fund Family | John Hancock Investment Management | Vanguard (US) |
| Category | Allocation/Balanced | Equity |
| Style | Preferred Stock | Large Cap Blend |
| Inception | Aug 27, 2002 | May 24, 2001 |
Volatility and max drawdown are measured over the window both funds cover: Aug 23, 2002 to Sep 14, 2026 (24.1 years).
HPI vs VTI 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 VTI Performance
John Hancock Preferred Income Fund (HPI) is an ETF from John Hancock Investment Management and Vanguard Morningstar Total Stock Market ETF (VTI) is an ETF from Vanguard (US). Over the past year HPI returned -4.27% while VTI returned +16.31%. Year to date, HPI is down 3.67% versus a gain of 12.08% for VTI.
Over three years, HPI compounded at +9.22% per year against +20.83% for VTI; over five years the annualized figures are +1.20% and +11.89% respectively. Across the full 24-year window we track, VTI has the edge at +9.65% 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 15.2% for VTI. 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 -56.6% for VTI. 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 VTI 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 1.03% for VTI.
Holdings Overlap
50.2% of HPI's money is in holdings VTI also owns. 4.0% of VTI's money is in holdings HPI also owns.
The two portfolios partly overlap.
The two holdings books were reported 154 days apart, HPI as of Feb 27, 2026 and VTI as of Jul 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
50 positions in common, counted across the 94 positions we hold weights for in HPI and 3,463 in VTI, against full books of 175 and 3,543.
What only one of them owns
Our book lists 1,109 positions for VTI that do not appear in our book for HPI (93.5% of the fund), and 13 for HPI that do not appear in VTI (13.1%).
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.
Top Shared Holdings
| Stock | Weight in HPI | Weight in VTI | Difference |
|---|---|---|---|
| WFCWells Fargo & Co. | 2.72% | 0.37% | 2.35% |
| JPMJpmorgan Chase | 1.13% | 1.31% | 0.18% |
| MSMorgan Stanley | 1.51% | 0.35% | 1.16% |
| TDSTelephone And Data System Preferred Stock | 1.80% | 0.00% | 1.80% |
| DUKDuke Energy Corp | 1.65% | 0.14% | 1.51% |
| NRGNrg Energy | 1.73% | 0.04% | 1.69% |
| AMGAffiliated Managers Group Inc. | 1.50% | 0.01% | 1.49% |
| RGAReinsurance Group of America, Incorporated | 1.48% | 0.02% | 1.46% |
| PCGPg&E Corp. | 1.33% | 0.05% | 1.28% |
| LNCLincoln National Corp. | 1.36% | 0.01% | 1.35% |
50.2% of HPI is already inside VTI.
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 VTI?
HPI has an expense ratio of 2.31% while VTI charges 0.03%. VTI is the cheaper option, by $228 a year on a $10,000 investment.
Which performed better, HPI or VTI?
Over the past year HPI returned -4.27% vs +16.31% for VTI, so VTI leads on 1-year performance. Over the longest common window we track (24 years), HPI annualized -0.14% vs +9.65% for VTI. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HPI or VTI?
HPI has been the more volatile fund at 19.7% annualized versus 15.2% for VTI. Worst drawdown: HPI -75.0% vs VTI -56.6%.
Should I hold both HPI and VTI?
HPI and VTI 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 VTI?
50.2% of HPI's money is in holdings VTI also owns. 4.0% of VTI's is in holdings HPI also owns. They hold 50 positions in common, counted across the 94 positions we hold weights for in HPI and 3,463 in VTI.
Which pays a higher dividend, HPI or VTI?
HPI yields 9.87% while VTI yields 1.03%, so HPI currently pays the higher dividend yield.
Is VTI better than HPI?
VTI has a lower expense ratio. VTI 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 33.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.