PFFR vs. CSPF

Last updated Jun 24, 2026

PFFR (InfraCap REIT Preferred ETF) and CSPF (Cohen & Steers Preferred and Income Opportunities Active ETF) are both Preferred Stock/Convertible Bonds funds. PFFR is passively managed, while CSPF is actively managed. Over the past year, PFFR returned 6.55% vs 8.38% for CSPF. At a 0.33 correlation, their price movements are largely independent. PFFR charges 0.45%/yr vs 0.59%/yr for CSPF.

Performance

PFFR vs. CSPF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in InfraCap REIT Preferred ETF (PFFR) 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, PFFR achieves a 1.56% return, which is significantly lower than CSPF's 3.08% return.

PFFR

• 1D: -0.54%
• 1M: 1.00%
• YTD: 1.56%
• 6M: 1.11%
• 1Y: 6.55%
• 3Y*: 9.29%
• 5Y*: 0.99%
• 10Y*: —

CSPF

• 1D: 0.00%
• 1M: 0.63%
• YTD: 3.08%
• 6M: 2.96%
• 1Y: 8.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PFFR vs. CSPF - Yearly Performance Comparison

	2026 (YTD)	2025
PFFR InfraCap REIT Preferred ETF	1.56%	4.12%
CSPF Cohen & Steers Preferred and Income Opportunities Active ETF	3.08%	8.22%

Correlation

The correlation between PFFR and CSPF is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (All Time) Calculated using the full available price history since Feb 5, 2025	0.33

Return for Risk

PFFR vs. CSPF — Risk / Return Rank

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

PFFR

PFFR Risk / Return Rank: 22
PFFR Sharpe Ratio Rank: 24
PFFR Sortino Ratio Rank: 23
PFFR Omega Ratio Rank: 23
PFFR Calmar Ratio Rank: 22
PFFR Martin Ratio Rank: 20

CSPF

CSPF Risk / Return Rank: 70
CSPF Sharpe Ratio Rank: 69
CSPF Sortino Ratio Rank: 73
CSPF Omega Ratio Rank: 75
CSPF Calmar Ratio Rank: 61
CSPF Martin Ratio Rank: 73

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.

PFFR vs. CSPF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for InfraCap REIT Preferred ETF (PFFR) 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.

	PFFR	CSPF	Difference
Sharpe ratio: Return per unit of total volatility	0.84	2.03	-1.19
Sortino ratio: Return per unit of downside risk	1.23	2.97	-1.74
Omega ratio: Gain probability vs. loss probability	1.15	1.40	-0.25
Calmar ratio: Return relative to maximum drawdown	1.00	2.75	-1.75
Martin ratio: Return relative to average drawdown	2.30	12.46	-10.16

PFFR vs. CSPF - Sharpe Ratio Comparison

The current PFFR Sharpe Ratio is 0.84, which is lower than the CSPF Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of PFFR 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

PFFR vs. CSPF - Drawdown Comparison

The maximum PFFR drawdown since its inception was -53.02%, which is greater than CSPF's maximum drawdown of -3.06%. Use the drawdown chart below to compare losses from any high point for PFFR and CSPF.

Drawdown Indicators

	PFFR	CSPF	Difference
Max Drawdown Largest peak-to-trough decline	-53.02%	-3.06%	-49.96%
Max Drawdown (1Y) Largest decline over 1 year	-6.57%	-3.06%	-3.51%
Max Drawdown (3Y) Largest decline over 3 years	-11.16%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-29.80%	—	—
Current Drawdown Current decline from peak	-2.32%	-0.11%	-2.21%
Average Drawdown Average peak-to-trough decline	-6.97%	-0.43%	-6.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.85%	0.67%	+2.18%

Volatility

PFFR vs. CSPF - Volatility Comparison

InfraCap REIT Preferred ETF (PFFR) has a higher volatility of 2.10% compared to Cohen & Steers Preferred and Income Opportunities Active ETF (CSPF) at 1.16%. This indicates that PFFR'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

	PFFR	CSPF	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.10%	1.16%	+0.94%
Volatility (6M) Calculated over the trailing 6-month period	6.05%	3.15%	+2.90%
Volatility (1Y) Calculated over the trailing 1-year period	7.82%	4.15%	+3.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.48%	4.17%	+6.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.48%	4.17%	+16.31%

PFFR vs. CSPF - Expense Ratio Comparison

PFFR has a 0.45% expense ratio, which is lower than CSPF's 0.59% expense ratio.

Dividends

PFFR vs. CSPF - Dividend Comparison

PFFR's dividend yield for the trailing twelve months is around 8.30%, more than CSPF's 5.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CSPF Cohen & Steers Preferred and Income Opportunities Active ETF	5.14%	4.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PFFR InfraCap REIT Preferred ETF	8.30%	7.99%	7.78%	7.72%	8.60%	6.08%	6.11%	5.77%	6.48%	6.59%

Frequently Asked Questions

Can I hold both PFFR and CSPF in my portfolio?

PFFR and CSPF have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PFFR or CSPF?

PFFR has higher volatility (2.10%) compared to CSPF (1.16%). In terms of maximum drawdown, PFFR dropped -53.02% vs CSPF's -3.06%.

Which ETF is better, PFFR or CSPF?

On 1-year performance, CSPF leads with 8.38% vs 6.55% for PFFR. On fees, PFFR is cheaper at 0.45% per year. On volatility, CSPF has been the lower-risk option at 1.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PFFR or CSPF?

Over the 1-year period, CSPF has performed better with a 8.38% return vs 6.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PFFR or CSPF?

PFFR is cheaper with a 0.45% expense ratio, compared with 0.59% for CSPF.

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

PFFR has the higher dividend yield at 8.30%, compared with 5.14% for CSPF.

What is the main difference between PFFR and CSPF?

They also come from different issuers: Virtus Investment Partners and Cohen & Steers. Their fees differ too: 0.45% for PFFR and 0.59% for CSPF.

Which has better risk-adjusted returns?

CSPF currently has the higher Sharpe Ratio (2.03 vs 0.84), 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.