Usually 440 means 440A which should not be confused with 440C which is a pretty good blade steel. 440A has more carbon than 420 and should hold a better edge. Some verbage from Joe Talmadge's article seems appropriate...
(quote)
420
Lower carbon content (<.5%) than the 440 series makes this steel
extremely soft, and it doesn't hold an edge well. It is used often
for diving knives, as it is extremely stain resistant. Also used
often for very inexpensive knives. Outside salt water use, it is too
soft to be a good choice for a utility knife.
420HC
420 modified with more carbon, to be roughly comparable to 440A.
440 A - 440 B - 440C
The carbon content (and hardenability) of this stainless steel goes up
in order from A (.75%) to B (.9%) to C (1.2%). 440C is an excellent,
high-end stainless steel, usually hardened to around 56-58 Rc, very
tough and with good edge-holding at that hardness. 440C was the king
of stainless cutlery steels in the 1980s, before ATS-34 took the title
in the 1990s. All three resist rust well, with 440A being the most
rust resistant, and 440C the least. The SOG Seal 2000 is 440A, and
Randall uses 440B for their stainless knives. 440C is fairly
ubiquitous, and is generally considered a very good general-use
stainless, tougher and more stain resistant than ATS-34 but with less
edge-holding and weaker. If your knife is marked with just "440", it
is probably the less expensive 440A; if a manufacturer had used the
more expensive 440C, he'd want to advertise that. The general feeling
is that 440A (and similar steels, see below) is just good enough for
everyday use, especially with a good heat treat (we've heard good
reports on the heat treat of SOG's 440A blades, don't know who does
the work for them). 440-B is a very solid performer and 440-C is
excellent. (/quote)