FOF vs. FALN
FOF (Cohen & Steers Closed-End Opportunity Fund) and FALN (iShares Fallen Angels USD Bond ETF) are both funds - FOF is a Large Cap Value Equities fund actively managed by Cohen & Steers, while FALN is a High Yield Bonds fund tracking the Bloomberg US High Yield Fallen Angel 3% Capped Index. FOF is actively managed, while FALN is passively managed. Over the past 10 years, FOF returned 10.86%/yr vs 6.60%/yr for FALN. At a 0.43 correlation, their price movements are largely independent. FOF charges 0.95%/yr vs 0.25%/yr for FALN.
Performance
FOF vs. FALN - Performance Comparison
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Returns By Period
In the year-to-date period, FOF achieves a 6.44% return, which is significantly higher than FALN's 2.24% return. Over the past 10 years, FOF has outperformed FALN with an annualized return of 10.86%, while FALN has yielded a comparatively lower 6.60% annualized return.
FOF
- 1D
- -0.29%
- 1M
- -1.83%
- YTD
- 6.44%
- 6M
- 6.60%
- 1Y
- 18.91%
- 3Y*
- 17.31%
- 5Y*
- 7.82%
- 10Y*
- 10.86%
FALN
- 1D
- -0.11%
- 1M
- 1.07%
- YTD
- 2.24%
- 6M
- 2.46%
- 1Y
- 7.88%
- 3Y*
- 9.39%
- 5Y*
- 3.76%
- 10Y*
- 6.60%
FOF vs. FALN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FOF Cohen & Steers Closed-End Opportunity Fund | 6.44% | 13.01% | 23.65% | 17.90% | -22.69% | 28.24% | 1.52% | 31.37% | -9.43% | 23.41% |
FALN iShares Fallen Angels USD Bond ETF | 2.24% | 8.92% | 7.68% | 13.47% | -13.79% | 5.40% | 14.85% | 17.42% | -4.97% | 8.70% |
Correlation
The correlation between FOF and FALN is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2016 | 0.43 |
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Return for Risk
FOF vs. FALN — Risk / Return Rank
FOF
FALN
FOF vs. FALN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cohen & Steers Closed-End Opportunity Fund (FOF) and iShares Fallen Angels USD Bond ETF (FALN). 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.
| FOF | FALN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.33 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.26 | 2.00 | -0.74 |
| Martin ratioReturn relative to average drawdown | 4.07 | 8.32 | -4.25 |
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Drawdowns
FOF vs. FALN - Drawdown Comparison
The maximum FOF drawdown since its inception was -59.38%, which is greater than FALN's maximum drawdown of -29.22%. Use the drawdown chart below to compare losses from any high point for FOF and FALN.
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Drawdown Indicators
| FOF | FALN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.38% | -29.22% | -30.16% |
Max Drawdown (1Y)Largest decline over 1 year | -15.07% | -3.96% | -11.11% |
Max Drawdown (3Y)Largest decline over 3 years | -18.58% | -5.92% | -12.66% |
Max Drawdown (5Y)Largest decline over 5 years | -29.96% | -18.78% | -11.18% |
Max Drawdown (10Y)Largest decline over 10 years | -49.74% | -29.22% | -20.52% |
Current DrawdownCurrent decline from peak | -7.06% | -0.11% | -6.95% |
Average DrawdownAverage peak-to-trough decline | -9.34% | -3.31% | -6.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.65% | 0.95% | +3.70% |
Volatility
FOF vs. FALN - Volatility Comparison
Cohen & Steers Closed-End Opportunity Fund (FOF) has a higher volatility of 3.83% compared to iShares Fallen Angels USD Bond ETF (FALN) at 1.18%. This indicates that FOF's price experiences larger fluctuations and is considered to be riskier than FALN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FOF | FALN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.83% | 1.18% | +2.65% |
Volatility (6M)Calculated over the trailing 6-month period | 12.30% | 3.73% | +8.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.76% | 4.60% | +9.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.04% | 7.33% | +10.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.34% | 8.94% | +11.40% |
FOF vs. FALN - Expense Ratio Comparison
FOF has a 0.95% expense ratio, which is higher than FALN's 0.25% expense ratio.
Dividends
FOF vs. FALN - Dividend Comparison
FOF's dividend yield for the trailing twelve months is around 7.72%, more than FALN's 6.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FALN iShares Fallen Angels USD Bond ETF | 6.42% | 6.31% | 6.24% | 5.37% | 5.08% | 3.40% | 5.14% | 5.35% | 5.97% | 6.98% | 3.55% | 0.00% |
FOF Cohen & Steers Closed-End Opportunity Fund | 7.72% | 7.91% | 8.22% | 9.32% | 9.99% | 7.06% | 8.41% | 7.78% | 9.41% | 7.84% | 8.90% | 9.49% |
Frequently Asked Questions
FOF and FALN have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FOF has higher volatility (3.83%) compared to FALN (1.18%). In terms of maximum drawdown, FOF dropped -59.38% vs FALN's -29.22%.
FALN currently has the higher Sharpe Ratio (1.72 vs 1.38), 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.
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