John Hancock Premium Dividend Fund
Find Ratings Reports- Last Ratings Update:02/29/2024
- Price as of 02/29/2024 :$11.56
- Net Assets:$521 Million
- NAV:$11.83
- Premium-2.28%
- Peer Rank:322 of 397
- Investment Rating:C-
- Performance:C
- RiskC+
We rate J Hancock Premium Dividend at C-. Positive factors that influence this rating include a low price volatility. The fund invests approximately 34% of its assets in stocks and may be considered for investors seeking an Equity Income strategy.
Total return ranks below peers over the last three years. The J Hancock Premium Dividend has returned an annual rate of 8.49% since inception. More recently, the fund has generated a total return of 1.72% in the last five years, 2.77% in the last three years, and -2.33% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 25% of them. It has also outpaced 49% of its competitors on a three year basis and 11% of them over the last year for the period ending 2/29/2024. On a year to date basis, PDT has returned 10.82%.
Downside risk has been above average. PDT has a draw down risk of -44.59%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 21.3%. This fund has experienced a high level of volatility in its monthly performance over the last 36 months.
High expense ratio hinders performance. On total assets of $521.00 million, PDT maintains a high expense ratio compared to its Equity Income peers of 5.06% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As PDT is a closed end fund, it has no front end or back end load.
Manager tenure is a net positive but performance record lags managerial peers. Substandard fund managers tend to be replaced, so a long tenure is usually a good sign that a fund is achieving its objectives. The J Hancock Premium Dividend has been managed by Joseph H. Bozoyan for the last 9 years. Over that period, the manager was able to capture more actual gains in excess of the expected return than just 21% of other fund managers.