This invention relates to a process involving hydrocracking of a feedstream in which a converted fraction can exhibit relatively high distillate product yields and maintained or improved distillate fuel properties, while an unconverted fraction can exhibit improved properties particularly useful in the lubricant area. In this hydrocracking process, it can be advantageous for the yield of converted/unconverted product for gasoline fuel application to be reduced or minimized, relative to converted distillate fuel and unconverted lubricant. Catalysts and conditions can be chosen to assist in attaining, or to optimize, desirable product yields and/or properties.