JHCP vs SPY
John Hancock Core Plus Bond ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. JHCP offers more diversification with 687 holdings.
Side-by-Side Comparison
| Metric | JHCP | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.36% | 0.09% | |
| AUM | $266M | $821.1B | |
| Dividend Yield | 4.56% | 1.01% | |
| Holdings | 687 | 505 | |
| YTD Return | -0.15% | +12.68% | |
| 1Y Return | +2.82% | +21.82% | |
| 3Y Return (annualized) | - | +21.98% | |
| 5Y Return (annualized) | - | +12.89% | |
| Volatility (annualized) | 3.3% | 15.3% | |
| Max Drawdown | -3.1% | -56.5% | |
| Fund Family | John Hancock Investment Management | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Dec 18, 2024 | Jan 22, 1993 |
JHCP vs SPY Performance
John Hancock Core Plus Bond ETF (JHCP) is a ETF from John Hancock Investment Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year JHCP returned +2.82% while SPY returned +21.82%. Year to date, JHCP is down 0.15% versus a gain of 12.68% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 3.3% for JHCP. 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 -3.1% for JHCP and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.25. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
JHCP charges 0.36% per year while SPY charges 0.09%. On a $10,000 position that is $36 vs $9 annually, a gap of $27 per year that compounds over a long holding period. On income, JHCP currently yields 4.56% against 1.01% for SPY.
Holdings Overlap
JHCP and SPY share 4 holdings out of 874 unique holdings combined, representing a 0.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, JHCP or SPY?
JHCP has an expense ratio of 0.36% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $27 per year of difference.
Which performed better, JHCP or SPY?
Over the past year JHCP returned +2.82% vs +21.82% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), JHCP annualized +4.15% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, JHCP or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 3.3% for JHCP. Worst drawdown: JHCP -3.1% vs SPY -56.5%.
Should I hold both JHCP and SPY?
JHCP and SPY have a monthly-return correlation of 0.25, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between JHCP and SPY?
JHCP and SPY share 4 common holdings with a 0.2% weight overlap. Combined, they hold 874 unique securities.
Which pays a higher dividend, JHCP or SPY?
JHCP yields 4.56% while SPY yields 1.01%, so JHCP currently pays the higher dividend yield.
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