What this ETF is trying to do

The Cohen & Steers Preferred and Income Opportunities Active ETF (CSPF) is designed to provide investors with income. It is an "active" ETF, which means managers make specific choices about what to hold to try and meet its goals.

What the numbers show

As of October 5, 2026, the share price of CSPF was $25.13.

When looking at performance, it is important to understand the difference between price return and total return:

• Price Return: This measures only the change in the share price. The one-year price return was -3.68%, and the year-to-date (YTD) price return was -3.04%.

• Total Return: This reflects the overall return, including the cash distributions paid to investors. The one-year total return was 1.68%, and the YTD total return was 1.05%.

To put the price change in perspective, the estimated price from roughly one year ago was $26.09. If you had invested $10,000 based on that estimated price, the price-only decline would have reduced that amount to approximately $9,632.

Income and distribution explanation

CSPF pays out cash to investors. Over the last 12 months, it made 12 payments, which usually happen monthly. The distribution yield is 5.59%.

It is important for beginners to know that a high distribution yield alone can be misleading. A fund can pay out a high percentage of cash while the share price is falling. In this case, the total return was positive even though the share price declined.

NAV erosion explanation

"NAV erosion" happens when the actual value of the assets inside an ETF drops over time. Investors who want steady income care about principal stability because they don't want their initial investment to disappear while they collect payments.

CSPF has an erosion-risk score of 94, which is labeled as "Stable / sideways" with "good" severity. The severe erosion-risk flag is false, meaning the fund has not triggered that specific warning.

Pros

• Regular Income: The fund provides monthly distributions.

• Positive Total Return: Despite a drop in share price, the total return over the last year remained positive.

• Stable Erosion Score: The erosion-risk measurement is currently rated as good.

Cons

• Price Decline: The share price has decreased both year-to-date and over the last 12 months.

• No Holdings Data: There is currently no specific list of top holdings available to review.

Beginner takeaway

CSPF is an income-focused fund where the share price has dipped, but the cash payments helped keep the total return positive over the last year. Always look at total return rather than just the distribution yield to see the full picture.