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HPI - HPI Vs. FFC: Similar Results Despite The Differences
John Hancock Preferred Income Fund of Beneficial Interest
HPI is the John Hancock Preferred Income Fund, a CEF that invests mainly in convertible preferred securities, and investment grade fixed-income securities.
FFC is the Flaherty & Crumrine Preferred Securities Income Fund, a CEF that invests mainly in investment grade preferred securities consisting of hybrid or taxable preferreds.
This article reviews both CEFs. Based on FFC’s lower fees, which helps explain its CAGR edge, I recommend FFC over HPI. Others might like HPI's asset allocation better.