PISHX vs. LPXZX

Last updated Aug 1, 2026

PISHX (Cohen & Steers Preferred Securities and Income SMA Shares) and LPXZX (Cohen & Steers Low Duration Preferred and Income Fund) are both Preferred Stock funds from Cohen & Steers. Over the past 5 years, PISHX returned 3.83%/yr vs 3.59%/yr for LPXZX. Their 0.79 correlation means they have sometimes moved together and sometimes differently. PISHX charges 0.00%/yr vs 0.60%/yr for LPXZX.

Performance

PISHX vs. LPXZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cohen & Steers Preferred Securities and Income SMA Shares (PISHX) and Cohen & Steers Low Duration Preferred and Income Fund (LPXZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with PISHX having a 2.24% return and LPXZX slightly lower at 2.14%.

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%

LPXZX

• 1D: 0.11%
• 1M: -0.31%
• 6M: 1.57%
• YTD: 2.14%
• 1Y: 4.46%
• 3Y*: 7.40%
• 5Y*: 3.59%
• 10Y*: 4.07%
• ALL TIME*: 4.15%

*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)
LPXZX Cohen & Steers Low Duration Preferred and Income Fund	$0.00	$0.00	$0.00
PISHX Cohen & Steers Preferred Securities and Income SMA Shares	$0.00	$0.00	$0.00

PISHX vs. LPXZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
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%
LPXZX Cohen & Steers Low Duration Preferred and Income Fund	2.14%	6.89%	8.75%	6.91%	-5.78%	2.08%	4.27%	7.50%

Correlation

The correlation between PISHX and LPXZX is 0.71, 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.	0.71
Correlation (3Y) Balances recent behavior with more history.	0.75
Correlation (5Y) Shows whether the relationship held over a longer period.	0.82
Correlation (All Time) Calculated using the full available price history since Mar 1, 2019	0.79

The correlation between PISHX and LPXZX shifts across timeframes, from 0.71 (1 year) to 0.82 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

PISHX vs. LPXZX — Risk / Return Rank

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

PISHX

PISHX Risk / Return Rank: 85
PISHX Sharpe Ratio Rank: 94
PISHX Sortino Ratio Rank: 94
PISHX Omega Ratio Rank: 95
PISHX Calmar Ratio Rank: 65
PISHX Martin Ratio Rank: 80

LPXZX

LPXZX Risk / Return Rank: 86
LPXZX Sharpe Ratio Rank: 94
LPXZX Sortino Ratio Rank: 92
LPXZX Omega Ratio Rank: 96
LPXZX Calmar Ratio Rank: 65
LPXZX Martin Ratio Rank: 82

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.

PISHX vs. LPXZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cohen & Steers Preferred Securities and Income SMA Shares (PISHX) and Cohen & Steers Low Duration Preferred and Income Fund (LPXZX). 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.

	PISHX	LPXZX	Difference
Sharpe ratio: Return per unit of total volatility	2.53	2.48	+0.06
Sortino ratio: Return per unit of downside risk	3.81	3.55	+0.26
Omega ratio: Gain probability vs. loss probability	1.58	1.62	-0.04
Calmar ratio: Return relative to maximum drawdown	2.17	2.19	-0.01
Martin ratio: Return relative to average drawdown	9.74	10.11	-0.36

PISHX vs. LPXZX - Sharpe Ratio Comparison

The current PISHX Sharpe Ratio is 2.53, which is comparable to the LPXZX Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of PISHX and LPXZX, 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

PISHX vs. LPXZX - Drawdown Comparison

The maximum PISHX drawdown since its inception was -27.12%, which is greater than LPXZX's maximum drawdown of -18.13%. Use the drawdown chart below to compare losses from any high point for PISHX and LPXZX.

Drawdown Indicators

	PISHX	LPXZX	Difference
Max Drawdown Largest peak-to-trough decline	-27.12%	-18.13%	-8.99%
Max Drawdown (1Y) Largest decline over 1 year	-2.83%	-2.14%	-0.69%
Max Drawdown (3Y) Largest decline over 3 years	-3.90%	-2.14%	-1.76%
Max Drawdown (5Y) Largest decline over 5 years	-19.14%	-9.69%	-9.45%
Max Drawdown (10Y) Largest decline over 10 years	—	-18.13%	—
Current Drawdown Current decline from peak	-0.67%	-0.31%	-0.36%
Average Drawdown Average peak-to-trough decline	-3.86%	-1.46%	-2.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.63%	0.46%	+0.17%

Volatility

PISHX vs. LPXZX - Volatility Comparison

Cohen & Steers Preferred Securities and Income SMA Shares (PISHX) has a higher volatility of 0.50% compared to Cohen & Steers Low Duration Preferred and Income Fund (LPXZX) at 0.43%. This indicates that PISHX's price experiences larger fluctuations and is considered to be riskier than LPXZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PISHX	LPXZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.50%	0.43%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	2.08%	1.56%	+0.52%
Volatility (1Y) Calculated over the trailing 1-year period	2.43%	1.89%	+0.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.57%	2.72%	+1.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.28%	3.77%	+3.51%

PISHX vs. LPXZX - Expense Ratio Comparison

PISHX has a 0.00% expense ratio, which is lower than LPXZX's 0.60% expense ratio.

Dividends

PISHX vs. LPXZX - Dividend Comparison

PISHX's dividend yield for the trailing twelve months is around 5.15%, more than LPXZX's 4.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
LPXZX Cohen & Steers Low Duration Preferred and Income Fund	4.71%	4.84%	5.10%	4.92%	4.45%	4.21%	4.36%	4.51%	4.71%	3.78%	4.10%
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%

Frequently Asked Questions

Can I hold both PISHX and LPXZX in my portfolio?

PISHX and LPXZX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PISHX or LPXZX?

PISHX has higher volatility (0.50%) compared to LPXZX (0.43%). In terms of maximum drawdown, PISHX dropped -27.12% vs LPXZX's -18.13%.

Which has better risk-adjusted returns?

PISHX currently has the higher Sharpe Ratio (2.53 vs 2.48), 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.