John Hancock Tax-Advantaged Dividend Income Fund is a closed-ended equity mutual fund investing in US public equity markets across diversified sectors, with a focus on the utilities sector. Its investment strategy is primarily based on common and preferred dividend-paying stocks with the prospect of a more favorable long-term capital gains tax rate. The fund co-managed by John Hancock Asset Management and Analytic Investors, LLC benchmarks its portfolio against a composite benchmark, comprising of the Bank of America Merrill Lynch Preferred Stock DRD Eligible Index and S&P 500 Utilities Index.