CSPF vs EVPF

CSPFCCohen & Steers Preferred and Income Opportunities Active ETF

EVPFBEaton Vance Preferred Securities and Income ETF

In short

CSPF An active preferred-securities fund from a specialist shop, free to roam US and overseas issues instead of tracking an index, and cutting a distribution check every month.

EVPF Eaton Vance's preferred-securities team, ETF-wrapped: an active, concentrated run at the preferred and hybrid market for 0.39% a year, under the category's median fee. Active stock-picking in a corner usually sold by the index.

Stated mandate

CSPF The Fund seeks total return through high current income and capital appreciation.

EVPF The Fund seeks total return and current income, primarily through preferred securities and other income-producing securities.

Why people hold it

• CSPF No index to follow. The managers pick roughly 220 preferred and income securities across US and non-US issuers, chasing total return from both current income and price gains.
• Pays monthly, so the income shows up on a paycheck-like rhythm rather than in quarterly lumps.
• Despite arriving in 2025, it already grades in the upper half of the preferred ETF group we cover, helped by how smoothly it trades and what sits inside the portfolio.

• EVPF Active in a category built on indexes: Eaton Vance's fundamental team picks across preferred and hybrid securities instead of owning whatever a benchmark lists.morganstanley.com
• At 0.39% a year, with no waiver propping it up, it undercuts index heavyweights PFF and PSK (0.45% each) and sits below the category median. Rare pricing for an active mandate.
• Income is the mandate, not a byproduct: total return plus current income from preferred securities, with distributions declared monthly under the prospectus.
• For a fund launched in 2026, the package lands in the upper tier of the roughly thirty US preferred ETFs on cost and mandate clarity.

Worth knowing

• CSPF Active management costs money: 0.59% a year, above the middle of the preferred ETF pack and well above index-based rivals like EVPF and PFFV.
• Launched February 2025, so there is only a short record to judge the stock-picking against. Our risk read rests on roughly a year of data.
• Preferreds live between bonds and stocks: long-dated, rate-sensitive, and reliant on the issuer staying healthy. Expect bond-like swings, not cash-like calm.

• EVPF Born March 2026, so there is no multi-cycle record of how the managers steer through a rate shock or a credit wobble.
• Smaller and thinner-traded than the category's index incumbents, so bid-ask spreads can run wider than in the biggest preferred funds.
• About 80 positions in preferred and hybrid securities, a rate- and credit-sensitive corner that ranks below bonds in the capital stack.sec.gov

Full CSPF profile⁠

Full EVPF profile⁠