Flaherty & Crumrine Preferred and Income Opportunity Fund (PFO)

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Flaherty & Crumrine Preferred and Income Opportunity Fund (PFO) is up 0.2% since the beginning of the year. PFO is currently trading at $9 per share. Investors who bought $1,000 worth of PFO shares 5 years ago would now be looking at an investment worth $990.

Flaherty & Crumrine Preferred and Income Opportunity Fund (PFO) has returned 0.15% so far this year and 7.96% over the past 12 months. Over the last ten years, PFO has returned 4.40% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.

Based on dividend-adjusted daily data since Feb 6, 1992, PFO's average daily return is +0.03%, while the average monthly return is +0.56%. At this rate, an investment would double in approximately 10.3 years.

Historically, 56% of months were positive and 44% were negative. The best month was May 2009 with a return of +21.2%, while the worst month was Sep 2008 at -42.4%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 7 months.

On a daily basis, PFO closed higher 46% of trading days. The best single day was Oct 13, 2008 with a return of +42.6%, while the worst single day was Mar 18, 2020 at -25.7%.

Flaherty & Crumrine Preferred and Income Opportunity Fund has an annualized alpha of 3.60%, beta of 0.48, and R2 of 0.11 versus S&P 500 Index. Calculated based on daily prices since February 06, 1992.

• This fund participated in 54.98% of S&P 500 Index downside but only 48.31% of its upside - more exposed to losses than it benefited from rallies.
• Beta of 0.48 may look defensive, but with R2 of 0.11 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R2 of 0.11 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

PFO has a high expense ratio of 1.40%, indicating above-average management fees.

PFO ranks 14 for risk / return — in the bottom 14% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.

Flaherty & Crumrine Preferred and Income Opportunity Fund provided a 7.26% dividend yield over the last twelve months, with an annual payout of $0.67 per share. The fund has been increasing its distributions for 2 consecutive years.

The table displays the monthly dividend distributions for Flaherty & Crumrine Preferred and Income Opportunity Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the Flaherty & Crumrine Preferred and Income Opportunity Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Flaherty & Crumrine Preferred and Income Opportunity Fund was 77.36%, occurring on Oct 10, 2008. Recovery took 360 trading sessions.

The current Flaherty & Crumrine Preferred and Income Opportunity Fund drawdown is 4.54%.

The chart below shows the rolling one-month volatility.