PFFL vs. CSSD

Last updated Jun 14, 2026

PFFL (ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN) and CSSD (Cohen & Steers Short Duration Preferred and Income Active ETF) are both Preferred Stock/Convertible Bonds funds. PFFL is passively managed, while CSSD is actively managed. At a 0.37 correlation, their price movements are largely independent. PFFL charges 0.85%/yr vs 0.49%/yr for CSSD.

Performance

PFFL vs. CSSD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN (PFFL) and Cohen & Steers Short Duration Preferred and Income Active ETF (CSSD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PFFL achieves a -0.94% return, which is significantly lower than CSSD's 2.60% return.

PFFL

• 1D: 0.03%
• 1M: -3.31%
• YTD: -0.94%
• 6M: -1.49%
• 1Y: 7.42%
• 3Y*: 3.88%
• 5Y*: -6.24%
• 10Y*: —

CSSD

• 1D: -0.01%
• 1M: 0.64%
• YTD: 2.60%
• 6M: 2.98%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PFFL vs. CSSD - Yearly Performance Comparison

	2026 (YTD)	2025
PFFL ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN	-0.94%	0.60%
CSSD Cohen & Steers Short Duration Preferred and Income Active ETF	2.60%	0.49%

Correlation

The correlation between PFFL and CSSD is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 10, 2025	0.37

Return for Risk

PFFL vs. CSSD — Risk / Return Rank

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

PFFL

PFFL Risk / Return Rank: 16
PFFL Sharpe Ratio Rank: 16
PFFL Sortino Ratio Rank: 15
PFFL Omega Ratio Rank: 16
PFFL Calmar Ratio Rank: 17
PFFL Martin Ratio Rank: 16

CSSD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

PFFL vs. CSSD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN (PFFL) and Cohen & Steers Short Duration Preferred and Income Active ETF (CSSD). 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.

	PFFL	CSSD	Difference
Sharpe ratio: Return per unit of total volatility	0.38	—	—
Sortino ratio: Return per unit of downside risk	0.64	—	—
Omega ratio: Gain probability vs. loss probability	1.08	—	—
Calmar ratio: Return relative to maximum drawdown	0.54	—	—
Martin ratio: Return relative to average drawdown	1.27	—	—

Drawdowns

PFFL vs. CSSD - Drawdown Comparison

The maximum PFFL drawdown since its inception was -80.68%, which is greater than CSSD's maximum drawdown of -2.32%. Use the drawdown chart below to compare losses from any high point for PFFL and CSSD.

Drawdown Indicators

	PFFL	CSSD	Difference
Max Drawdown Largest peak-to-trough decline	-80.68%	-2.32%	-78.36%
Max Drawdown (1Y) Largest decline over 1 year	-11.92%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-23.75%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-48.51%	—	—
Current Drawdown Current decline from peak	-38.98%	-0.01%	-38.97%
Average Drawdown Average peak-to-trough decline	-28.56%	-0.30%	-28.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.01%	—	—

Volatility

Volatility by Period

	PFFL	CSSD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.00%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.39%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.98%	3.10%	+13.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.62%	3.10%	+20.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.24%	3.10%	+52.14%

PFFL vs. CSSD - Expense Ratio Comparison

PFFL has a 0.85% expense ratio, which is higher than CSSD's 0.49% expense ratio.

Dividends

PFFL vs. CSSD - Dividend Comparison

PFFL's dividend yield for the trailing twelve months is around 13.01%, more than CSSD's 2.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CSSD Cohen & Steers Short Duration Preferred and Income Active ETF	2.63%	0.53%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PFFL ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN	13.01%	13.27%	13.76%	13.71%	13.90%	8.82%	9.75%	11.21%	2.02%

Frequently Asked Questions

Can I hold both PFFL and CSSD in my portfolio?

PFFL and CSSD have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PFFL or CSSD?

On fees, CSSD is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PFFL or CSSD?

CSSD is cheaper with a 0.49% expense ratio, compared with 0.85% for PFFL.

Which ETF pays a higher dividend yield, PFFL or CSSD?

PFFL has the higher dividend yield at 13.01%, compared with 2.63% for CSSD.

What is the main difference between PFFL and CSSD?

They also come from different issuers: UBS and Cohen & Steers. Their fees differ too: 0.85% for PFFL and 0.49% for CSSD.