RNP vs. HYG
RNP (Cohen & Steers REIT and Preferred Income Fund, Inc.) is a stock, while HYG (iShares iBoxx $ High Yield Corporate Bond ETF) is High Yield Bonds fund tracking the Markit iBoxx USD Liquid High Yield Index. Over the past 10 years, RNP returned 8.84%/yr vs 5.04%/yr for HYG. At a 0.48 correlation, their price movements are largely independent.
Performance
RNP vs. HYG - Performance Comparison
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Returns By Period
In the year-to-date period, RNP achieves a 7.41% return, which is significantly higher than HYG's 1.65% return. Over the past 10 years, RNP has outperformed HYG with an annualized return of 8.84%, while HYG has yielded a comparatively lower 5.04% annualized return.
RNP
- 1D
- -0.05%
- 1M
- 1.16%
- YTD
- 7.41%
- 6M
- 9.84%
- 1Y
- 1.62%
- 3Y*
- 11.94%
- 5Y*
- 2.90%
- 10Y*
- 8.84%
HYG
- 1D
- 0.00%
- 1M
- 0.63%
- YTD
- 1.65%
- 6M
- 2.21%
- 1Y
- 6.81%
- 3Y*
- 8.52%
- 5Y*
- 3.75%
- 10Y*
- 5.04%
RNP vs. HYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RNP Cohen & Steers REIT and Preferred Income Fund, Inc. | 7.41% | 2.57% | 11.88% | 7.73% | -19.95% | 32.84% | 3.31% | 43.14% | -9.46% | 19.65% |
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 1.65% | 8.59% | 7.97% | 11.54% | -10.98% | 3.76% | 4.47% | 14.09% | -2.02% | 6.07% |
Correlation
The correlation between RNP and HYG is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Apr 11, 2007 | 0.48 |
The correlation between RNP and HYG shifts across timeframes, from 0.44 (1 year) to 0.54 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
RNP vs. HYG — Risk / Return Rank
RNP
HYG
RNP vs. HYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cohen & Steers REIT and Preferred Income Fund, Inc. (RNP) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG). 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.
| RNP | HYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.65 | ||
| Sortino ratioReturn per unit of downside risk | -2.40 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.32 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 0.03 | 2.79 | -2.75 |
| Martin ratioReturn relative to average drawdown | 0.08 | 12.25 | -12.17 |
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Drawdowns
RNP vs. HYG - Drawdown Comparison
The maximum RNP drawdown since its inception was -86.93%, which is greater than HYG's maximum drawdown of -34.25%. Use the drawdown chart below to compare losses from any high point for RNP and HYG.
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Drawdown Indicators
| RNP | HYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.93% | -34.25% | -52.68% |
Max Drawdown (1Y)Largest decline over 1 year | -12.24% | -2.34% | -9.90% |
Max Drawdown (3Y)Largest decline over 3 years | -19.71% | -4.56% | -15.15% |
Max Drawdown (5Y)Largest decline over 5 years | -36.19% | -15.79% | -20.40% |
Max Drawdown (10Y)Largest decline over 10 years | -56.68% | -22.03% | -34.65% |
Current DrawdownCurrent decline from peak | -3.60% | 0.00% | -3.60% |
Average DrawdownAverage peak-to-trough decline | -13.11% | -3.24% | -9.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.45% | 0.53% | +4.92% |
Volatility
RNP vs. HYG - Volatility Comparison
Cohen & Steers REIT and Preferred Income Fund, Inc. (RNP) has a higher volatility of 4.56% compared to iShares iBoxx $ High Yield Corporate Bond ETF (HYG) at 1.31%. This indicates that RNP's price experiences larger fluctuations and is considered to be riskier than HYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RNP | HYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.56% | 1.31% | +3.25% |
Volatility (6M)Calculated over the trailing 6-month period | 9.85% | 3.08% | +6.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.00% | 3.87% | +9.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.84% | 7.53% | +13.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.23% | 8.29% | +15.94% |
Dividends
RNP vs. HYG - Dividend Comparison
RNP's dividend yield for the trailing twelve months is around 7.96%, more than HYG's 5.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 5.90% | 5.71% | 6.01% | 5.74% | 5.30% | 4.02% | 4.88% | 4.99% | 5.54% | 5.12% | 5.27% | 5.90% |
RNP Cohen & Steers REIT and Preferred Income Fund, Inc. | 7.96% | 8.22% | 7.81% | 8.10% | 13.26% | 5.20% | 6.52% | 6.25% | 8.36% | 7.00% | 7.75% | 8.03% |
Frequently Asked Questions
RNP and HYG have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RNP has higher volatility (4.56%) compared to HYG (1.31%). In terms of maximum drawdown, RNP dropped -86.93% vs HYG's -34.25%.
HYG currently has the higher Sharpe Ratio (1.68 vs 0.03), 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.
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