FOF vs. PISHX

Last updated Apr 1, 2026

Compare and contrast key facts about Cohen & Steers Closed-End Opportunity Fund (FOF) and Cohen & Steers Preferred Securities and Income SMA Shares (PISHX).

FOF is an actively managed fund by Cohen & Steers. It was launched on Nov 24, 2006. PISHX is managed by Cohen & Steers. It was launched on Feb 28, 2019.

Performance

FOF vs. PISHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cohen & Steers Closed-End Opportunity Fund (FOF) and Cohen & Steers Preferred Securities and Income SMA Shares (PISHX). The values are adjusted to include any dividend payments, if applicable.

FOF vs. PISHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FOF Cohen & Steers Closed-End Opportunity Fund	-0.96%	13.01%	23.65%	17.90%	-22.69%	28.24%	1.52%	16.36%
PISHX Cohen & Steers Preferred Securities and Income SMA Shares	-1.14%	9.65%	12.50%	7.91%	-11.73%	4.30%	8.57%	12.46%

Returns By Period

In the year-to-date period, FOF achieves a -0.96% return, which is significantly higher than PISHX's -1.14% return.

FOF

• 1D: 1.83%
• 1M: -10.52%
• YTD: -0.96%
• 6M: 2.28%
• 1Y: 15.30%
• 3Y*: 14.99%
• 5Y*: 8.04%
• 10Y*: 10.65%

PISHX

• 1D: 0.00%
• 1M: -2.56%
• YTD: -1.14%
• 6M: 0.08%
• 1Y: 6.86%
• 3Y*: 10.90%
• 5Y*: 4.03%
• 10Y*: —

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

FOF vs. PISHX - Expense Ratio Comparison

FOF has a 0.95% expense ratio, which is higher than PISHX's 0.00% expense ratio.

FOF

Cohen & Steers Closed-End Opportunity Fund

PISHX

Cohen & Steers Preferred Securities and Income SMA Shares

Return for Risk

FOF vs. PISHX — Risk / Return Rank

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

FOF

FOF Risk / Return Rank: 42
FOF Sharpe Ratio Rank: 40
FOF Sortino Ratio Rank: 43
FOF Omega Ratio Rank: 52
FOF Calmar Ratio Rank: 37
FOF Martin Ratio Rank: 38

PISHX

PISHX Risk / Return Rank: 89
PISHX Sharpe Ratio Rank: 94
PISHX Sortino Ratio Rank: 91
PISHX Omega Ratio Rank: 95
PISHX Calmar Ratio Rank: 81
PISHX Martin Ratio Rank: 85

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.

FOF vs. PISHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cohen & Steers Closed-End Opportunity Fund (FOF) and Cohen & Steers Preferred Securities and Income SMA Shares (PISHX). 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.

	FOF	PISHX	Difference
Sharpe ratio Return per unit of total volatility	0.83	2.13	-1.30
Sortino ratio Return per unit of downside risk	1.27	2.66	-1.39
Omega ratio Gain probability vs. loss probability	1.21	1.54	-0.33
Calmar ratio Return relative to maximum drawdown	0.98	1.93	-0.95
Martin ratio Return relative to average drawdown	3.97	8.68	-4.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FOF vs. PISHX - Sharpe Ratio Comparison

The current FOF Sharpe Ratio is 0.83, which is lower than the PISHX Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of FOF and PISHX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FOF	PISHX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.83	2.13	-1.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	0.89	-0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.77	-0.46

Correlation

The correlation between FOF and PISHX is 0.35, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

FOF vs. PISHX - Dividend Comparison

FOF's dividend yield for the trailing twelve months is around 8.14%, more than PISHX's 5.12% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FOF Cohen & Steers Closed-End Opportunity Fund	8.14%	7.91%	8.22%	9.32%	9.99%	7.06%	8.41%	7.78%	9.41%	7.84%	8.90%	9.49%
PISHX Cohen & Steers Preferred Securities and Income SMA Shares	5.12%	5.52%	5.89%	5.92%	5.45%	4.25%	4.59%	3.38%	0.00%	0.00%	0.00%	0.00%

Drawdowns

FOF vs. PISHX - Drawdown Comparison

The maximum FOF drawdown since its inception was -59.38%, which is greater than PISHX's maximum drawdown of -27.12%. Use the drawdown chart below to compare losses from any high point for FOF and PISHX.

Drawdown Indicators

	FOF	PISHX	Difference
Max Drawdown Largest peak-to-trough decline	-59.38%	-27.12%	-32.26%
Max Drawdown (1Y) Largest decline over 1 year	-15.07%	-3.46%	-11.61%
Max Drawdown (5Y) Largest decline over 5 years	-29.96%	-19.14%	-10.82%
Max Drawdown (10Y) Largest decline over 10 years	-49.74%	—	—
Current Drawdown Current decline from peak	-13.52%	-2.83%	-10.69%
Average Drawdown Average peak-to-trough decline	-9.37%	-4.03%	-5.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.73%	0.77%	+2.96%

Volatility

FOF vs. PISHX - Volatility Comparison

Cohen & Steers Closed-End Opportunity Fund (FOF) has a higher volatility of 6.09% compared to Cohen & Steers Preferred Securities and Income SMA Shares (PISHX) at 1.22%. This indicates that FOF's price experiences larger fluctuations and is considered to be riskier than PISHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FOF	PISHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.09%	1.22%	+4.87%
Volatility (6M) Calculated over the trailing 6-month period	11.03%	1.76%	+9.27%
Volatility (1Y) Calculated over the trailing 1-year period	18.57%	3.22%	+15.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.99%	4.54%	+13.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.25%	7.43%	+12.82%