CPXIX vs. NPFD

Last updated Jun 4, 2026

CPXIX (Cohen & Steers Preferred Securities and Income Fund, Inc.) and NPFD (Nuveen Variable Rate Preferred & Income Fund) are both Preferred Stock/Convertible Bonds funds. Over the past 3 years, CPXIX returned 9.62%/yr vs 17.27%/yr for NPFD. At a 0.41 correlation, their price movements are largely independent.

Performance

CPXIX vs. NPFD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cohen & Steers Preferred Securities and Income Fund, Inc. (CPXIX) and Nuveen Variable Rate Preferred & Income Fund (NPFD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CPXIX achieves a 1.66% return, which is significantly lower than NPFD's 3.06% return.

CPXIX

• 1D: 0.00%
• 1M: 0.34%
• YTD: 1.66%
• 6M: 2.30%
• 1Y: 8.18%
• 3Y*: 9.62%
• 5Y*: 2.73%
• 10Y*: 4.63%

NPFD

• 1D: -0.84%
• 1M: -1.02%
• YTD: 3.06%
• 6M: 0.11%
• 1Y: 9.94%
• 3Y*: 17.27%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CPXIX vs. NPFD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CPXIX Cohen & Steers Preferred Securities and Income Fund, Inc.	1.66%	8.44%	10.39%	6.38%	-12.37%	0.64%
NPFD Nuveen Variable Rate Preferred & Income Fund	3.06%	15.94%	23.52%	-1.10%	-25.33%	1.40%

Correlation

The correlation between CPXIX and NPFD is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (All Time) Calculated using the full available price history since Dec 17, 2021	0.41

Return for Risk

CPXIX vs. NPFD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CPXIX

CPXIX Risk / Return Rank: 82
CPXIX Sharpe Ratio Rank: 96
CPXIX Sortino Ratio Rank: 96
CPXIX Omega Ratio Rank: 96
CPXIX Calmar Ratio Rank: 55
CPXIX Martin Ratio Rank: 65

NPFD

NPFD Risk / Return Rank: 14
NPFD Sharpe Ratio Rank: 13
NPFD Sortino Ratio Rank: 13
NPFD Omega Ratio Rank: 15
NPFD Calmar Ratio Rank: 10
NPFD Martin Ratio Rank: 18

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CPXIX vs. NPFD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cohen & Steers Preferred Securities and Income Fund, Inc. (CPXIX) and Nuveen Variable Rate Preferred & Income Fund (NPFD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CPXIX	NPFD	Difference
Sharpe ratio: Return per unit of total volatility	3.44	1.01	+2.43
Sortino ratio: Return per unit of downside risk	5.29	1.44	+3.85
Omega ratio: Gain probability vs. loss probability	1.85	1.21	+0.64
Calmar ratio: Return relative to maximum drawdown	2.81	1.01	+1.80
Martin ratio: Return relative to average drawdown	12.82	5.01	+7.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CPXIX vs. NPFD - Sharpe Ratio Comparison

The current CPXIX Sharpe Ratio is 3.44, which is higher than the NPFD Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of CPXIX and NPFD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CPXIX	NPFD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.44	1.01	+2.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.76	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.17	0.15	+1.02

Drawdowns

CPXIX vs. NPFD - Drawdown Comparison

The maximum CPXIX drawdown since its inception was -25.56%, smaller than the maximum NPFD drawdown of -39.18%. Use the drawdown chart below to compare losses from any high point for CPXIX and NPFD.

Drawdown Indicators

	CPXIX	NPFD	Difference
Max Drawdown Largest peak-to-trough decline	-25.56%	-39.18%	+13.62%
Max Drawdown (1Y) Largest decline over 1 year	-3.00%	-9.88%	+6.88%
Max Drawdown (3Y) Largest decline over 3 years	-3.91%	-9.88%	+5.97%
Max Drawdown (5Y) Largest decline over 5 years	-20.00%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-25.56%	—	—
Current Drawdown Current decline from peak	-0.01%	-2.43%	+2.42%
Average Drawdown Average peak-to-trough decline	-2.69%	-17.44%	+14.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.65%	1.99%	-1.34%

Volatility

CPXIX vs. NPFD - Volatility Comparison

The current volatility for Cohen & Steers Preferred Securities and Income Fund, Inc. (CPXIX) is 0.80%, while Nuveen Variable Rate Preferred & Income Fund (NPFD) has a volatility of 2.44%. This indicates that CPXIX experiences smaller price fluctuations and is considered to be less risky than NPFD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CPXIX	NPFD	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.80%	2.44%	-1.64%
Volatility (6M) Calculated over the trailing 6-month period	2.09%	8.29%	-6.20%
Volatility (1Y) Calculated over the trailing 1-year period	2.45%	9.85%	-7.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.70%	15.22%	-10.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.16%	15.22%	-9.06%

Dividends

CPXIX vs. NPFD - Dividend Comparison

CPXIX's dividend yield for the trailing twelve months is around 5.78%, less than NPFD's 10.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CPXIX Cohen & Steers Preferred Securities and Income Fund, Inc.	5.78%	5.54%	5.52%	5.76%	5.40%	4.89%	5.17%	5.30%	5.88%	5.01%	5.75%	5.91%
NPFD Nuveen Variable Rate Preferred & Income Fund	10.32%	10.50%	9.57%	6.61%	8.33%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CPXIX and NPFD in my portfolio?

CPXIX and NPFD have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CPXIX or NPFD?

NPFD has higher volatility (2.44%) compared to CPXIX (0.80%). In terms of maximum drawdown, CPXIX dropped -25.56% vs NPFD's -39.18%.

Which has better risk-adjusted returns?

CPXIX currently has the higher Sharpe Ratio (3.44 vs 1.01), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.