ICF vs. CSEIX
ICF (iShares Cohen & Steers REIT ETF) and CSEIX (Cohen & Steers Real Estate Securities Fund, Inc.) are both REIT funds. Over the past 10 years, ICF returned 5.83%/yr vs 6.87%/yr for CSEIX. With a 0.97 correlation, they move nearly in lockstep. ICF charges 0.34%/yr vs 1.10%/yr for CSEIX.
Performance
ICF vs. CSEIX - Performance Comparison
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Returns By Period
In the year-to-date period, ICF achieves a 14.43% return, which is significantly higher than CSEIX's 10.50% return. Over the past 10 years, ICF has underperformed CSEIX with an annualized return of 5.83%, while CSEIX has yielded a comparatively higher 6.87% annualized return.
ICF
- 1D
- 1.99%
- 1M
- 0.89%
- YTD
- 14.43%
- 6M
- 13.92%
- 1Y
- 13.25%
- 3Y*
- 11.05%
- 5Y*
- 3.41%
- 10Y*
- 5.83%
CSEIX
- 1D
- -0.17%
- 1M
- -1.45%
- YTD
- 10.50%
- 6M
- 9.76%
- 1Y
- 11.23%
- 3Y*
- 10.57%
- 5Y*
- 3.49%
- 10Y*
- 6.87%
ICF vs. CSEIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ICF iShares Cohen & Steers REIT ETF | 14.43% | 1.85% | 5.30% | 10.36% | -26.12% | 44.17% | -5.43% | 25.48% | -2.55% | 4.90% |
CSEIX Cohen & Steers Real Estate Securities Fund, Inc. | 10.50% | 4.01% | 6.50% | 12.81% | -26.47% | 41.29% | -1.99% | 31.50% | -4.52% | 7.79% |
Correlation
The correlation between ICF and CSEIX is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2001 | 0.97 |
The correlation between ICF and CSEIX has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.
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Return for Risk
ICF vs. CSEIX — Risk / Return Rank
ICF
CSEIX
ICF vs. CSEIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Cohen & Steers REIT ETF (ICF) and Cohen & Steers Real Estate Securities Fund, Inc. (CSEIX). 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.
| ICF | CSEIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.16 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.62 | 1.45 | +0.18 |
| Martin ratioReturn relative to average drawdown | 4.60 | 4.28 | +0.33 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ICF | CSEIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.97 | 0.87 | +0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | 0.19 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 0.33 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 0.35 | -0.04 |
Drawdowns
ICF vs. CSEIX - Drawdown Comparison
The maximum ICF drawdown since its inception was -76.74%, which is greater than CSEIX's maximum drawdown of -72.58%. Use the drawdown chart below to compare losses from any high point for ICF and CSEIX.
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Drawdown Indicators
| ICF | CSEIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.74% | -72.58% | -4.16% |
Max Drawdown (1Y)Largest decline over 1 year | -8.20% | -7.92% | -0.28% |
Max Drawdown (3Y)Largest decline over 3 years | -17.25% | -17.31% | +0.06% |
Max Drawdown (5Y)Largest decline over 5 years | -34.74% | -33.25% | -1.49% |
Max Drawdown (10Y)Largest decline over 10 years | -40.22% | -42.75% | +2.53% |
Current DrawdownCurrent decline from peak | -0.73% | -3.29% | +2.56% |
Average DrawdownAverage peak-to-trough decline | -14.18% | -10.73% | -3.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.88% | 2.67% | +0.21% |
Volatility
ICF vs. CSEIX - Volatility Comparison
iShares Cohen & Steers REIT ETF (ICF) has a higher volatility of 4.22% compared to Cohen & Steers Real Estate Securities Fund, Inc. (CSEIX) at 3.79%. This indicates that ICF's price experiences larger fluctuations and is considered to be riskier than CSEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ICF | CSEIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.22% | 3.79% | +0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 10.02% | 9.93% | +0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.70% | 13.21% | +0.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.93% | 18.86% | +0.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.59% | 20.94% | -0.35% |
ICF vs. CSEIX - Expense Ratio Comparison
ICF has a 0.34% expense ratio, which is lower than CSEIX's 1.10% expense ratio.
Dividends
ICF vs. CSEIX - Dividend Comparison
ICF's dividend yield for the trailing twelve months is around 2.43%, less than CSEIX's 3.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CSEIX Cohen & Steers Real Estate Securities Fund, Inc. | 3.46% | 3.75% | 2.72% | 2.89% | 7.91% | 4.37% | 5.48% | 7.83% | 3.51% | 2.39% | 5.87% | 23.00% |
ICF iShares Cohen & Steers REIT ETF | 2.43% | 2.88% | 2.66% | 2.76% | 2.64% | 1.82% | 2.38% | 2.55% | 3.20% | 3.10% | 4.21% | 3.30% |
Frequently Asked Questions
With a correlation of 0.97, ICF and CSEIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
ICF has higher volatility (4.22%) compared to CSEIX (3.79%). In terms of maximum drawdown, ICF dropped -76.74% vs CSEIX's -72.58%.
ICF currently has the higher Sharpe Ratio (0.97 vs 0.87), 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.
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