PTA vs. PISHX

Last updated Apr 1, 2026

Compare and contrast key facts about Cohen & Steers Tax-Advantaged Preferred Securities and Income Fund (PTA) and Cohen & Steers Preferred Securities and Income SMA Shares (PISHX).

PTA is managed by Cohen & Steers. PISHX is managed by Cohen & Steers. It was launched on Feb 28, 2019.

Performance

PTA vs. PISHX - Performance Comparison

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

PTA vs. PISHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
PTA Cohen & Steers Tax-Advantaged Preferred Securities and Income Fund	-0.92%	9.04%	15.82%	11.58%	-20.50%	-0.95%	4.53%
PISHX Cohen & Steers Preferred Securities and Income SMA Shares	-1.14%	9.65%	12.50%	7.91%	-11.73%	4.30%	5.58%

Returns By Period

In the year-to-date period, PTA achieves a -0.92% return, which is significantly higher than PISHX's -1.14% return.

PTA

• 1D: 3.31%
• 1M: -4.44%
• YTD: -0.92%
• 6M: -4.35%
• 1Y: 4.65%
• 3Y*: 10.56%
• 5Y*: 2.56%
• 10Y*: —

PISHX

• 1D: 0.00%
• 1M: -2.56%
• YTD: -1.14%
• 6M: 0.08%
• 1Y: 6.86%
• 3Y*: 10.90%
• 5Y*: 4.03%
• 10Y*: —

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

PTA vs. PISHX - Expense Ratio Comparison

PISHX

Cohen & Steers Preferred Securities and Income SMA Shares

Return for Risk

PTA vs. PISHX — Risk / Return Rank

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

PTA

PTA Risk / Return Rank: 13
PTA Sharpe Ratio Rank: 12
PTA Sortino Ratio Rank: 11
PTA Omega Ratio Rank: 12
PTA Calmar Ratio Rank: 15
PTA Martin Ratio Rank: 13

PISHX

PISHX Risk / Return Rank: 89
PISHX Sharpe Ratio Rank: 94
PISHX Sortino Ratio Rank: 91
PISHX Omega Ratio Rank: 95
PISHX Calmar Ratio Rank: 81
PISHX Martin Ratio Rank: 85

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.

PTA vs. PISHX - Risk-Adjusted Trends Comparison

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

	PTA	PISHX	Difference
Sharpe ratio Return per unit of total volatility	0.34	2.13	-1.79
Sortino ratio Return per unit of downside risk	0.55	2.66	-2.11
Omega ratio Gain probability vs. loss probability	1.08	1.54	-0.45
Calmar ratio Return relative to maximum drawdown	0.46	1.93	-1.48
Martin ratio Return relative to average drawdown	1.23	8.68	-7.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PTA vs. PISHX - Sharpe Ratio Comparison

The current PTA Sharpe Ratio is 0.34, which is lower than the PISHX Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of PTA and PISHX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PTA	PISHX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.34	2.13	-1.79
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.18	0.89	-0.72
Sharpe Ratio (All Time) Calculated using the full available price history	0.18	0.77	-0.58

Correlation

The correlation between PTA and PISHX is 0.35, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

PTA vs. PISHX - Dividend Comparison

PTA's dividend yield for the trailing twelve months is around 8.58%, more than PISHX's 5.12% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
PTA Cohen & Steers Tax-Advantaged Preferred Securities and Income Fund	8.58%	8.33%	8.37%	8.93%	8.83%	7.10%	0.50%	0.00%
PISHX Cohen & Steers Preferred Securities and Income SMA Shares	5.12%	5.52%	5.89%	5.92%	5.45%	4.25%	4.59%	3.38%

Drawdowns

PTA vs. PISHX - Drawdown Comparison

The maximum PTA drawdown since its inception was -28.71%, which is greater than PISHX's maximum drawdown of -27.12%. Use the drawdown chart below to compare losses from any high point for PTA and PISHX.

Drawdown Indicators

	PTA	PISHX	Difference
Max Drawdown Largest peak-to-trough decline	-28.71%	-27.12%	-1.59%
Max Drawdown (1Y) Largest decline over 1 year	-10.21%	-3.46%	-6.75%
Max Drawdown (5Y) Largest decline over 5 years	-28.71%	-19.14%	-9.57%
Current Drawdown Current decline from peak	-6.50%	-2.83%	-3.67%
Average Drawdown Average peak-to-trough decline	-9.22%	-4.03%	-5.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.79%	0.77%	+3.02%

Volatility

PTA vs. PISHX - Volatility Comparison

Cohen & Steers Tax-Advantaged Preferred Securities and Income Fund (PTA) has a higher volatility of 5.99% compared to Cohen & Steers Preferred Securities and Income SMA Shares (PISHX) at 1.22%. This indicates that PTA's price experiences larger fluctuations and is considered to be riskier than PISHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PTA	PISHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.99%	1.22%	+4.77%
Volatility (6M) Calculated over the trailing 6-month period	8.05%	1.76%	+6.29%
Volatility (1Y) Calculated over the trailing 1-year period	13.69%	3.22%	+10.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.52%	4.54%	+9.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.14%	7.43%	+6.71%