PSF vs. FTCVX

Last updated Jun 4, 2026

PSF (Cohen & Steers Select Preferred and Income Fund) and FTCVX (Fidelity Advisor Convertible Securities Fund Class M) are both Preferred Stock/Convertible Bonds funds. Over the past 10 years, PSF returned 4.89%/yr vs 12.86%/yr for FTCVX. At a 0.34 correlation, their price movements are largely independent. PSF charges 4.28%/yr vs 1.23%/yr for FTCVX.

Performance

PSF vs. FTCVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cohen & Steers Select Preferred and Income Fund (PSF) and Fidelity Advisor Convertible Securities Fund Class M (FTCVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSF achieves a -0.27% return, which is significantly lower than FTCVX's 25.12% return. Over the past 10 years, PSF has underperformed FTCVX with an annualized return of 4.89%, while FTCVX has yielded a comparatively higher 12.86% annualized return.

PSF

• 1D: -0.25%
• 1M: -0.53%
• YTD: -0.27%
• 6M: 0.00%
• 1Y: 7.64%
• 3Y*: 11.12%
• 5Y*: 0.00%
• 10Y*: 4.89%

FTCVX

• 1D: 1.14%
• 1M: 7.34%
• YTD: 25.12%
• 6M: 24.55%
• 1Y: 43.73%
• 3Y*: 19.61%
• 5Y*: 9.41%
• 10Y*: 12.86%

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

PSF vs. FTCVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PSF Cohen & Steers Select Preferred and Income Fund	-0.27%	10.63%	12.84%	9.88%	-24.55%	3.89%	-3.78%	42.60%	-9.01%	16.79%
FTCVX Fidelity Advisor Convertible Securities Fund Class M	25.12%	17.67%	7.70%	12.42%	-15.82%	9.35%	41.70%	27.83%	-1.88%	8.54%

Correlation

The correlation between PSF and FTCVX is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (10Y) Calculated over the trailing 10-year period	0.38
Correlation (All Time) Calculated using the full available price history since Nov 29, 2010	0.34

The correlation between PSF and FTCVX shifts across timeframes, from 0.34 (all time) to 0.48 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

PSF vs. FTCVX — Risk / Return Rank

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

PSF

PSF Risk / Return Rank: 12
PSF Sharpe Ratio Rank: 11
PSF Sortino Ratio Rank: 11
PSF Omega Ratio Rank: 12
PSF Calmar Ratio Rank: 11
PSF Martin Ratio Rank: 12

FTCVX

FTCVX Risk / Return Rank: 89
FTCVX Sharpe Ratio Rank: 90
FTCVX Sortino Ratio Rank: 82
FTCVX Omega Ratio Rank: 79
FTCVX Calmar Ratio Rank: 96
FTCVX Martin Ratio Rank: 96

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.

PSF vs. FTCVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cohen & Steers Select Preferred and Income Fund (PSF) and Fidelity Advisor Convertible Securities Fund Class M (FTCVX). 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.

	PSF	FTCVX	Difference
Sharpe ratio: Return per unit of total volatility	0.90	3.03	-2.13
Sortino ratio: Return per unit of downside risk	1.33	3.89	-2.57
Omega ratio: Gain probability vs. loss probability	1.18	1.52	-0.34
Calmar ratio: Return relative to maximum drawdown	1.05	6.27	-5.22
Martin ratio: Return relative to average drawdown	3.59	24.46	-20.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PSF vs. FTCVX - Sharpe Ratio Comparison

The current PSF Sharpe Ratio is 0.90, which is lower than the FTCVX Sharpe Ratio of 3.03. The chart below compares the historical Sharpe Ratios of PSF and FTCVX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PSF	FTCVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.90	3.03	-2.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.00	0.70	-0.70
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.23	0.94	-0.71
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	1.00	-0.62

Drawdowns

PSF vs. FTCVX - Drawdown Comparison

The maximum PSF drawdown since its inception was -55.01%, which is greater than FTCVX's maximum drawdown of -25.10%. Use the drawdown chart below to compare losses from any high point for PSF and FTCVX.

Drawdown Indicators

	PSF	FTCVX	Difference
Max Drawdown Largest peak-to-trough decline	-55.01%	-25.10%	-29.91%
Max Drawdown (1Y) Largest decline over 1 year	-7.28%	-7.16%	-0.12%
Max Drawdown (3Y) Largest decline over 3 years	-12.23%	-18.91%	+6.68%
Max Drawdown (5Y) Largest decline over 5 years	-40.80%	-24.45%	-16.35%
Max Drawdown (10Y) Largest decline over 10 years	-55.01%	-25.10%	-29.91%
Current Drawdown Current decline from peak	-9.34%	0.00%	-9.34%
Average Drawdown Average peak-to-trough decline	-9.99%	-5.85%	-4.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.13%	1.83%	+0.30%

Volatility

PSF vs. FTCVX - Volatility Comparison

The current volatility for Cohen & Steers Select Preferred and Income Fund (PSF) is 2.71%, while Fidelity Advisor Convertible Securities Fund Class M (FTCVX) has a volatility of 4.87%. This indicates that PSF experiences smaller price fluctuations and is considered to be less risky than FTCVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSF	FTCVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.71%	4.87%	-2.16%
Volatility (6M) Calculated over the trailing 6-month period	6.92%	11.86%	-4.94%
Volatility (1Y) Calculated over the trailing 1-year period	8.54%	14.85%	-6.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.26%	13.49%	+0.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.12%	13.66%	+7.46%

PSF vs. FTCVX - Expense Ratio Comparison

PSF has a 4.28% expense ratio, which is higher than FTCVX's 1.23% expense ratio.

Dividends

PSF vs. FTCVX - Dividend Comparison

PSF's dividend yield for the trailing twelve months is around 7.71%, less than FTCVX's 8.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTCVX Fidelity Advisor Convertible Securities Fund Class M	8.41%	10.89%	1.66%	3.03%	3.18%	20.07%	10.32%	2.74%	9.06%	3.78%	4.32%	9.73%
PSF Cohen & Steers Select Preferred and Income Fund	7.71%	7.46%	7.65%	8.29%	8.65%	9.08%	7.02%	6.55%	8.68%	7.70%	9.35%	8.81%

Frequently Asked Questions

Can I hold both PSF and FTCVX in my portfolio?

PSF and FTCVX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSF or FTCVX?

FTCVX has higher volatility (4.87%) compared to PSF (2.71%). In terms of maximum drawdown, PSF dropped -55.01% vs FTCVX's -25.10%.

Which has better risk-adjusted returns?

FTCVX currently has the higher Sharpe Ratio (3.03 vs 0.90), 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.