Yip. Sounds about right.

My hotmail account collects vast amounts of spam, by virtue of the fact that it's my publicly published account.
My gmail get some too, if my friends gave out my address for some reason, or if my account it found by some bot.

Both have pretty effective spam filters, but my gmail even more so, if it's combined by my personal mail server & it's SpamAssassin & my clients recognition of SA header tags.
So where HM's anti-spam is a once-off thing, due to it's closed nature, I can actually put my other standards-compliant mail through the wringer a couple of times

MH's great for spam, as it's basically impossible to download mail from it to a client, which suits me fine, as I've no interest to download garbage