FTCVX vs. PISHX
FTCVX (Fidelity Advisor Convertible Securities Fund Class M) and PISHX (Cohen & Steers Preferred Securities and Income SMA Shares) are both mutual funds - FTCVX is a Convertible Bonds fund managed by Fidelity, while PISHX is a Preferred Stock fund managed by Cohen & Steers. Over the past 5 years, FTCVX returned 6.91%/yr vs 3.83%/yr for PISHX. Their 0.38 correlation means their historical movements had little consistent relationship. FTCVX charges 1.23%/yr vs 0.00%/yr for PISHX.
Performance
FTCVX vs. PISHX - Performance Comparison
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Returns By Period
In the year-to-date period, FTCVX achieves a 13.75% return, which is significantly higher than PISHX's 2.24% return.
FTCVX
- 1D
- 3.00%
- 1M
- -3.65%
- 6M
- 8.34%
- YTD
- 13.75%
- 1Y
- 24.69%
- 3Y*
- 13.84%
- 5Y*
- 6.91%
- 10Y*
- 11.43%
- ALL TIME*
- 12.99%
PISHX
- 1D
- 0.00%
- 1M
- -0.57%
- 6M
- 1.55%
- YTD
- 2.24%
- 1Y
- 5.97%
- 3Y*
- 10.31%
- 5Y*
- 3.83%
- 10Y*
- —
- ALL TIME*
- 5.90%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FTCVX vs. PISHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FTCVX Fidelity Advisor Convertible Securities Fund Class M | 13.75% | 17.67% | 7.70% | 12.42% | -15.82% | 9.35% | 41.70% | 15.22% |
PISHX Cohen & Steers Preferred Securities and Income SMA Shares | 2.24% | 9.65% | 12.50% | 7.91% | -11.73% | 4.30% | 8.57% | 12.46% |
Correlation
The correlation between FTCVX and PISHX is 0.35, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.35 |
Correlation (3Y) Balances recent behavior with more history. | 0.35 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.38 |
Correlation (All Time) Calculated using the full available price history since Mar 1, 2019 | 0.38 |
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Return for Risk
FTCVX vs. PISHX — Risk / Return Rank
FTCVX
PISHX
FTCVX vs. PISHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Convertible Securities Fund Class M (FTCVX) 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.
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.
| FTCVX | PISHX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.18 | ||
| Sortino ratioReturn per unit of downside risk | -1.93 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.58 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 1.96 | 2.17 | -0.21 |
| Martin ratioReturn relative to average drawdown | 7.68 | 9.74 | -2.06 |
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Drawdowns
FTCVX vs. PISHX - Drawdown Comparison
The maximum FTCVX drawdown since its inception was -25.10%, smaller than the maximum PISHX drawdown of -27.12%. Use the drawdown chart below to compare losses from any high point for FTCVX and PISHX.
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Drawdown Indicators
| FTCVX | PISHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.10% | -27.12% | +2.02% |
Max Drawdown (1Y)Largest decline over 1 year | -11.74% | -2.83% | -8.91% |
Max Drawdown (3Y)Largest decline over 3 years | -18.91% | -3.90% | -15.01% |
Max Drawdown (5Y)Largest decline over 5 years | -24.45% | -19.14% | -5.31% |
Max Drawdown (10Y)Largest decline over 10 years | -25.10% | — | — |
Current DrawdownCurrent decline from peak | -9.09% | -0.67% | -8.42% |
Average DrawdownAverage peak-to-trough decline | -5.84% | -3.86% | -1.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.99% | 0.63% | +2.36% |
Volatility
FTCVX vs. PISHX - Volatility Comparison
Fidelity Advisor Convertible Securities Fund Class M (FTCVX) has a higher volatility of 6.05% compared to Cohen & Steers Preferred Securities and Income SMA Shares (PISHX) at 0.50%. This indicates that FTCVX'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.
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Volatility by Period
| FTCVX | PISHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.05% | 0.50% | +5.55% |
Volatility (6M)Calculated over the trailing 6-month period | 13.97% | 2.08% | +11.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.00% | 2.43% | +14.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.93% | 4.57% | +9.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.87% | 7.28% | +6.59% |
FTCVX vs. PISHX - Expense Ratio Comparison
FTCVX has a 1.23% expense ratio, which is higher than PISHX's 0.00% expense ratio.
Dividends
FTCVX vs. PISHX - Dividend Comparison
FTCVX's dividend yield for the trailing twelve months is around 8.82%, more than PISHX's 5.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTCVX Fidelity Advisor Convertible Securities Fund Class M | 8.82% | 10.89% | 1.66% | 3.03% | 3.18% | 20.07% | 10.32% | 2.74% | 9.06% | 3.78% | 4.32% | 9.73% |
PISHX Cohen & Steers Preferred Securities and Income SMA Shares | 5.15% | 5.52% | 5.89% | 5.92% | 5.45% | 4.25% | 4.59% | 3.38% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FTCVX and PISHX 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.
FTCVX has higher volatility (6.05%) compared to PISHX (0.50%). In terms of maximum drawdown, FTCVX dropped -25.10% vs PISHX's -27.12%.
PISHX currently has the higher Sharpe Ratio (2.53 vs 1.35), 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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