CSPF vs. PQDI

Last updated Jul 17, 2026

CSPF (Cohen & Steers Preferred and Income Opportunities Active ETF) and PQDI (Principal Spectrum Preferred and Income ETF) are both Preferred Stock/Convertible Bonds funds. CSPF is actively managed, while PQDI is passively managed. Over the past year, CSPF returned 7.69% vs 6.09% for PQDI. A 0.59 correlation means they provide meaningful diversification when combined. CSPF charges 0.59%/yr vs 0.60%/yr for PQDI.

Performance

CSPF vs. PQDI - 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 Principal Spectrum Preferred and Income ETF (PQDI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CSPF achieves a 3.44% return, which is significantly higher than PQDI's 1.83% return.

CSPF

• 1D: 0.02%
• 1M: 0.33%
• 6M: 2.45%
• YTD: 3.44%
• 1Y: 7.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PQDI

• 1D: 0.08%
• 1M: 0.12%
• 6M: 1.26%
• YTD: 1.83%
• 1Y: 6.09%
• 3Y*: 9.02%
• 5Y*: 3.20%
• 10Y*: —

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

CSPF vs. PQDI - Yearly Performance Comparison

	2026 (YTD)	2025
CSPF Cohen & Steers Preferred and Income Opportunities Active ETF	3.44%	8.22%
PQDI Principal Spectrum Preferred and Income ETF	1.83%	8.00%

Correlation

The correlation between CSPF and PQDI is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.63
Correlation (All Time) Calculated using the full available price history since Feb 5, 2025	0.59

The correlation between CSPF and PQDI has been stable across timeframes, ranging from 0.59 to 0.63 - a consistent structural relationship.

Return for Risk

CSPF vs. PQDI — Risk / Return Rank

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

CSPF

CSPF Risk / Return Rank: 74
CSPF Sharpe Ratio Rank: 75
CSPF Sortino Ratio Rank: 77
CSPF Omega Ratio Rank: 78
CSPF Calmar Ratio Rank: 63
CSPF Martin Ratio Rank: 78

PQDI

PQDI Risk / Return Rank: 67
PQDI Sharpe Ratio Rank: 73
PQDI Sortino Ratio Rank: 76
PQDI Omega Ratio Rank: 82
PQDI Calmar Ratio Rank: 44
PQDI Martin Ratio Rank: 59

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.

CSPF vs. PQDI - 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 Principal Spectrum Preferred and Income ETF (PQDI). 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	PQDI	Difference
Sharpe ratio: Return per unit of total volatility	1.91	1.87	+0.05
Sortino ratio: Return per unit of downside risk	2.79	2.73	+0.06
Omega ratio: Gain probability vs. loss probability	1.37	1.39	-0.02
Calmar ratio: Return relative to maximum drawdown	2.52	1.85	+0.68
Martin ratio: Return relative to average drawdown	11.63	8.13	+3.50

CSPF vs. PQDI - Sharpe Ratio Comparison

The current CSPF Sharpe Ratio is 1.91, which is comparable to the PQDI Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of CSPF and PQDI, 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. PQDI - Drawdown Comparison

The maximum CSPF drawdown since its inception was -3.06%, smaller than the maximum PQDI drawdown of -17.41%. Use the drawdown chart below to compare losses from any high point for CSPF and PQDI.

Drawdown Indicators

	CSPF	PQDI	Difference
Max Drawdown Largest peak-to-trough decline	-3.06%	-17.41%	+14.35%
Max Drawdown (1Y) Largest decline over 1 year	-3.06%	-3.31%	+0.25%
Max Drawdown (3Y) Largest decline over 3 years	—	-3.31%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.41%	—
Current Drawdown Current decline from peak	-0.54%	-0.41%	-0.13%
Average Drawdown Average peak-to-trough decline	-0.43%	-3.44%	+3.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.66%	0.75%	-0.09%

Volatility

CSPF vs. PQDI - Volatility Comparison

Cohen & Steers Preferred and Income Opportunities Active ETF (CSPF) has a higher volatility of 0.96% compared to Principal Spectrum Preferred and Income ETF (PQDI) at 0.67%. This indicates that CSPF's price experiences larger fluctuations and is considered to be riskier than PQDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CSPF	PQDI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.96%	0.67%	+0.29%
Volatility (6M) Calculated over the trailing 6-month period	3.17%	2.91%	+0.26%
Volatility (1Y) Calculated over the trailing 1-year period	4.03%	3.28%	+0.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.15%	4.70%	-0.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.15%	4.53%	-0.38%

CSPF vs. PQDI - Expense Ratio Comparison

CSPF has a 0.59% expense ratio, which is lower than PQDI's 0.60% expense ratio.

Dividends

CSPF vs. PQDI - Dividend Comparison

CSPF's dividend yield for the trailing twelve months is around 5.27%, less than PQDI's 5.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
CSPF Cohen & Steers Preferred and Income Opportunities Active ETF	5.27%	4.63%	0.00%	0.00%	0.00%	0.00%	0.00%
PQDI Principal Spectrum Preferred and Income ETF	5.57%	5.02%	4.93%	5.35%	5.60%	5.21%	2.69%

Frequently Asked Questions

Can I hold both CSPF and PQDI in my portfolio?

CSPF and PQDI have a correlation of 0.63, 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 PQDI?

CSPF has higher volatility (0.96%) compared to PQDI (0.67%). In terms of maximum drawdown, CSPF dropped -3.06% vs PQDI's -17.41%.

Which ETF is better, CSPF or PQDI?

On 1-year performance, CSPF leads with 7.69% vs 6.09% for PQDI. On fees, CSPF is cheaper at 0.59% per year. On volatility, PQDI has been the lower-risk option at 0.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CSPF or PQDI?

Over the 1-year period, CSPF has performed better with a 7.69% return vs 6.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CSPF or PQDI?

CSPF is cheaper with a 0.59% expense ratio, compared with 0.60% for PQDI.

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

PQDI has the higher dividend yield at 5.57%, compared with 5.27% for CSPF.

What is the main difference between CSPF and PQDI?

They also come from different issuers: Cohen & Steers and Principal. Their fees differ too: 0.59% for CSPF and 0.60% for PQDI.

Which has better risk-adjusted returns?

CSPF currently has the higher Sharpe Ratio (1.91 vs 1.87), 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.