CSPF vs. NPFI

Last updated Aug 6, 2026

CSPF (Cohen & Steers Preferred and Income Opportunities Active ETF) and NPFI (Nuveen Preferred And Income ETF) are both Preferred Stock funds. Both are actively managed. Over the past year, CSPF returned 6.76% vs 6.15% for NPFI. Their 0.64 correlation means they have sometimes moved together and sometimes differently. CSPF charges 0.59%/yr vs 0.55%/yr for NPFI.

Performance

CSPF vs. NPFI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cohen & Steers Preferred and Income Opportunities Active ETF (CSPF) and Nuveen Preferred And Income ETF (NPFI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CSPF achieves a 3.52% return, which is significantly higher than NPFI's 2.41% return.

CSPF

• 1D: 0.13%
• 1M: -0.47%
• 6M: 1.82%
• YTD: 3.52%
• 1Y: 6.76%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.90%

NPFI

• 1D: 0.14%
• 1M: -0.09%
• 6M: 1.64%
• YTD: 2.41%
• 1Y: 6.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.46%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CSPF Cohen & Steers Preferred and Income Opportunities Active ETF	$1.30M	$1.58M	$1.32M
NPFI Nuveen Preferred And Income ETF	$428.23K	$467.64K	$354.80K

CSPF vs. NPFI - Yearly Performance Comparison

	2026 (YTD)	2025
CSPF Cohen & Steers Preferred and Income Opportunities Active ETF	3.52%	8.22%
NPFI Nuveen Preferred And Income ETF	2.41%	8.25%

Correlation

The correlation between CSPF and NPFI is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.67
Correlation (All Time) Calculated using the full available price history since Feb 5, 2025	0.64

The correlation between CSPF and NPFI has been stable across timeframes, ranging from 0.64 to 0.67 - a consistent structural relationship.

Return for Risk

CSPF vs. NPFI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CSPF

CSPF Risk / Return Rank: 64
CSPF Sharpe Ratio Rank: 63
CSPF Sortino Ratio Rank: 66
CSPF Omega Ratio Rank: 67
CSPF Calmar Ratio Rank: 55
CSPF Martin Ratio Rank: 70

NPFI

NPFI Risk / Return Rank: 74
NPFI Sharpe Ratio Rank: 82
NPFI Sortino Ratio Rank: 86
NPFI Omega Ratio Rank: 91
NPFI Calmar Ratio Rank: 48
NPFI Martin Ratio Rank: 67

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CSPF vs. NPFI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cohen & Steers Preferred and Income Opportunities Active ETF (CSPF) and Nuveen Preferred And Income ETF (NPFI). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CSPF	NPFI	Difference
Sharpe ratio: Return per unit of total volatility	1.70	2.10	-0.40
Sortino ratio: Return per unit of downside risk	2.48	3.14	-0.66
Omega ratio: Gain probability vs. loss probability	1.32	1.46	-0.14
Calmar ratio: Return relative to maximum drawdown	2.22	1.94	+0.28
Martin ratio: Return relative to average drawdown	9.87	9.18	+0.69

CSPF vs. NPFI - Sharpe Ratio Comparison

The current CSPF Sharpe Ratio is 1.70, which is comparable to the NPFI Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of CSPF and NPFI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CSPF vs. NPFI - Drawdown Comparison

The maximum CSPF drawdown since its inception was -3.06%, roughly equal to the maximum NPFI drawdown of -3.18%. Use the drawdown chart below to compare losses from any high point for CSPF and NPFI.

Drawdown Indicators

	CSPF	NPFI	Difference
Max Drawdown Largest peak-to-trough decline	-3.06%	-3.18%	+0.12%
Max Drawdown (1Y) Largest decline over 1 year	-3.06%	-3.18%	+0.12%
Current Drawdown Current decline from peak	-0.47%	-0.09%	-0.38%
Average Drawdown Average peak-to-trough decline	-0.44%	-0.33%	-0.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.69%	0.67%	+0.02%

Volatility

CSPF vs. NPFI - Volatility Comparison

The current volatility for Cohen & Steers Preferred and Income Opportunities Active ETF (CSPF) is 0.65%, while Nuveen Preferred And Income ETF (NPFI) has a volatility of 0.72%. This indicates that CSPF experiences smaller price fluctuations and is considered to be less risky than NPFI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CSPF	NPFI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.65%	0.72%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	3.13%	2.59%	+0.54%
Volatility (1Y) Calculated over the trailing 1-year period	4.01%	2.94%	+1.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.08%	2.91%	+1.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.08%	2.91%	+1.17%

CSPF vs. NPFI - Expense Ratio Comparison

CSPF has a 0.59% expense ratio, which is higher than NPFI's 0.55% expense ratio.

Dividends

CSPF vs. NPFI - Dividend Comparison

CSPF's dividend yield for the trailing twelve months is around 5.32%, less than NPFI's 6.45% yield.

Position	TTM	2025	2024
CSPF Cohen & Steers Preferred and Income Opportunities Active ETF	5.32%	4.63%	0.00%
NPFI Nuveen Preferred And Income ETF	6.45%	6.33%	5.10%

Frequently Asked Questions

Can I hold both CSPF and NPFI in my portfolio?

CSPF and NPFI have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CSPF or NPFI?

NPFI has higher volatility (0.72%) compared to CSPF (0.65%). In terms of maximum drawdown, CSPF dropped -3.06% vs NPFI's -3.18%.

Which ETF is better, CSPF or NPFI?

On 1-year performance, CSPF leads with 6.76% vs 6.15% for NPFI. On fees, NPFI is cheaper at 0.55% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CSPF or NPFI?

Over the 1-year period, CSPF has performed better with a 6.76% return vs 6.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CSPF or NPFI?

NPFI is cheaper with a 0.55% expense ratio, compared with 0.59% for CSPF.

Which ETF pays a higher dividend yield, CSPF or NPFI?

NPFI has the higher dividend yield at 6.45%, compared with 5.32% for CSPF.

What is the main difference between CSPF and NPFI?

They also come from different issuers: Cohen & Steers and Nuveen. Their fees differ too: 0.59% for CSPF and 0.55% for NPFI.

Which has better risk-adjusted returns?

NPFI currently has the higher Sharpe Ratio (2.10 vs 1.70), 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.