PFFD vs. CSPF

Last updated Aug 2, 2026

PFFD (Global X U.S. Preferred ETF) and CSPF (Cohen & Steers Preferred and Income Opportunities Active ETF) are both Preferred Stock funds. PFFD is passively managed, while CSPF is actively managed. Over the past year, PFFD returned 3.11% vs 6.91% for CSPF. Their 0.48 correlation means their historical movements had little consistent relationship. PFFD charges 0.23%/yr vs 0.59%/yr for CSPF.

Performance

PFFD vs. CSPF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X U.S. Preferred ETF (PFFD) and Cohen & Steers Preferred and Income Opportunities Active ETF (CSPF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PFFD achieves a 1.09% return, which is significantly lower than CSPF's 3.26% return.

PFFD

• 1D: 0.00%
• 1M: -0.32%
• 6M: -1.56%
• YTD: 1.09%
• 1Y: 3.11%
• 3Y*: 4.85%
• 5Y*: -0.75%
• 10Y*: —
• ALL TIME*: 2.43%

CSPF

• 1D: 0.04%
• 1M: -0.24%
• 6M: 1.80%
• YTD: 3.26%
• 1Y: 6.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.79%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CSPF Cohen & Steers Preferred and Income Opportunities Active ETF	$1.30M	$1.57M	$2.58M
PFFD Global X U.S. Preferred ETF	$13.88M	$14.42M	$12.01M

PFFD vs. CSPF - Yearly Performance Comparison

	2026 (YTD)	2025
PFFD Global X U.S. Preferred ETF	1.09%	2.12%
CSPF Cohen & Steers Preferred and Income Opportunities Active ETF	3.26%	8.22%

Correlation

The correlation between PFFD and CSPF is 0.54, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.54
Correlation (All Time) Calculated using the full available price history since Feb 5, 2025	0.48

The correlation between PFFD and CSPF has been stable across timeframes, ranging from 0.48 to 0.54 - a consistent structural relationship.

Return for Risk

PFFD vs. CSPF — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PFFD

PFFD Risk / Return Rank: 19
PFFD Sharpe Ratio Rank: 20
PFFD Sortino Ratio Rank: 19
PFFD Omega Ratio Rank: 18
PFFD Calmar Ratio Rank: 20
PFFD Martin Ratio Rank: 21

CSPF

CSPF Risk / Return Rank: 75
CSPF Sharpe Ratio Rank: 75
CSPF Sortino Ratio Rank: 77
CSPF Omega Ratio Rank: 78
CSPF Calmar Ratio Rank: 64
CSPF Martin Ratio Rank: 78

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PFFD vs. CSPF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X U.S. Preferred ETF (PFFD) and Cohen & Steers Preferred and Income Opportunities Active ETF (CSPF). 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.

	PFFD	CSPF	Difference
Sharpe ratio: Return per unit of total volatility	0.41	1.72	-1.31
Sortino ratio: Return per unit of downside risk	0.62	2.52	-1.89
Omega ratio: Gain probability vs. loss probability	1.07	1.33	-0.25
Calmar ratio: Return relative to maximum drawdown	0.51	2.25	-1.75
Martin ratio: Return relative to average drawdown	1.39	10.06	-8.67

PFFD vs. CSPF - Sharpe Ratio Comparison

The current PFFD Sharpe Ratio is 0.41, which is lower than the CSPF Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of PFFD and CSPF, 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

PFFD vs. CSPF - Drawdown Comparison

The maximum PFFD drawdown since its inception was -30.93%, which is greater than CSPF's maximum drawdown of -3.06%. Use the drawdown chart below to compare losses from any high point for PFFD and CSPF.

Drawdown Indicators

	PFFD	CSPF	Difference
Max Drawdown Largest peak-to-trough decline	-30.93%	-3.06%	-27.87%
Max Drawdown (1Y) Largest decline over 1 year	-5.97%	-3.06%	-2.91%
Max Drawdown (3Y) Largest decline over 3 years	-10.84%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-24.45%	—	—
Current Drawdown Current decline from peak	-4.81%	-0.71%	-4.10%
Average Drawdown Average peak-to-trough decline	-6.55%	-0.44%	-6.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.17%	0.68%	+1.49%

Volatility

PFFD vs. CSPF - Volatility Comparison

Global X U.S. Preferred ETF (PFFD) has a higher volatility of 2.54% compared to Cohen & Steers Preferred and Income Opportunities Active ETF (CSPF) at 0.88%. This indicates that PFFD's price experiences larger fluctuations and is considered to be riskier than CSPF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PFFD	CSPF	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.54%	0.88%	+1.66%
Volatility (6M) Calculated over the trailing 6-month period	5.69%	3.13%	+2.56%
Volatility (1Y) Calculated over the trailing 1-year period	7.42%	4.01%	+3.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.05%	4.10%	+6.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.68%	4.10%	+8.58%

PFFD vs. CSPF - Expense Ratio Comparison

PFFD has a 0.23% expense ratio, which is lower than CSPF's 0.59% expense ratio.

Dividends

PFFD vs. CSPF - Dividend Comparison

PFFD's dividend yield for the trailing twelve months is around 6.48%, more than CSPF's 5.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CSPF Cohen & Steers Preferred and Income Opportunities Active ETF	5.34%	4.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PFFD Global X U.S. Preferred ETF	5.94%	6.37%	6.42%	6.49%	6.63%	5.09%	5.17%	5.48%	6.21%	1.94%

Frequently Asked Questions

Can I hold both PFFD and CSPF in my portfolio?

PFFD and CSPF have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PFFD or CSPF?

PFFD has higher volatility (2.54%) compared to CSPF (0.88%). In terms of maximum drawdown, PFFD dropped -30.93% vs CSPF's -3.06%.

Which ETF is better, PFFD or CSPF?

On 1-year performance, CSPF leads with 6.91% vs 3.11% for PFFD. On fees, PFFD is cheaper at 0.23% per year. On volatility, CSPF has been the lower-risk option at 0.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PFFD or CSPF?

Over the 1-year period, CSPF has performed better with a 6.91% return vs 3.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PFFD or CSPF?

PFFD is cheaper with a 0.23% expense ratio, compared with 0.59% for CSPF.

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

PFFD has the higher dividend yield at 5.94%, compared with 5.34% for CSPF.

What is the main difference between PFFD and CSPF?

They also come from different issuers: Global X and Cohen & Steers. Their fees differ too: 0.23% for PFFD and 0.59% for CSPF.

Which has better risk-adjusted returns?

CSPF currently has the higher Sharpe Ratio (1.72 vs 0.41), 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.