EVPF vs JHPI

EVPFBEaton Vance Preferred Securities and Income ETF

JHPIBJohn Hancock Preferred Income ETF

In short

EVPF Eaton Vance's preferred-securities team, ETF-wrapped: an active, concentrated run at the preferred and hybrid market for 0.39% a year, under the category's median fee. Active stock-picking in a corner usually sold by the index.

JHPI A stock-picker's take on preferred income: JHPI skips the index entirely and lets its manager hunt preferreds it judges undervalued, with room to roam as far down as B-rated credit. Pays monthly.

Stated mandate

EVPF The Fund seeks total return and current income, primarily through preferred securities and other income-producing securities.

JHPI The fund seeks a high level of current income while preserving capital.

Why people hold it

• EVPF Active in a category built on indexes: Eaton Vance's fundamental team picks across preferred and hybrid securities instead of owning whatever a benchmark lists.morganstanley.com
• At 0.39% a year, with no waiver propping it up, it undercuts index heavyweights PFF and PSK (0.45% each) and sits below the category median. Rare pricing for an active mandate.
• Income is the mandate, not a byproduct: total return plus current income from preferred securities, with distributions declared monthly under the prospectus.
• For a fund launched in 2026, the package lands in the upper tier of the roughly thirty US preferred ETFs on cost and mandate clarity.

• JHPI Not an index fund. The manager works sector allocation, industry allocation and security selection, buying preferreds it judges undervalued versus similar names.jhinvestments.com
• Pays monthly, and spreads that income across roughly 220 preferred and hybrid positions rather than a concentrated handful.
• The portfolio sticks closely to the preferred-income mandate it advertises, one of the stronger implementations in its peer group.

Worth knowing

• EVPF Born March 2026, so there is no multi-cycle record of how the managers steer through a rate shock or a credit wobble.
• Smaller and thinner-traded than the category's index incumbents, so bid-ask spreads can run wider than in the biggest preferred funds.
• About 80 positions in preferred and hybrid securities, a rate- and credit-sensitive corner that ranks below bonds in the capital stack.sec.gov

• JHPI Fee is 0.54% net of a waiver through July 31, 2027 (0.66% gross), near the category median; index rivals like PFFD at 0.23% cost less.
• One of the smaller, more thinly traded names in the group, so bid-ask spreads can run wider than at the category's giants.
• Up to 50% of net assets can sit in below-investment-grade preferreds, floored at B, so credit stress shows up in the price.jhinvestments.com

Full EVPF profile⁠

Full JHPI profile⁠