In plain terms — Cohen & Steers Select Preferred & Income Fund
Shares currently cost about 11.7% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 8.9% discount, so today's level is somewhat wide for this fund (Z-score -1.5). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 8.3% a year of the share price (7.4% of the assets). That is a payout rate, not a return: part of it may be capital being handed back.
Because the shares trade below the value of their assets, each dollar of reinvested distributions buys about $1.13 of assets — a ReinvestCapture™ rate of 9.5%, more than the payout rate itself. That is buying power, not a return.
The assets themselves grew 0.0% over the past year including distributions (NAV total return).
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Price and NAV, past year
Snapshot
Valuation vs. history
| Window | Average prem/disc | Std. dev. | Z-score | Observations |
|---|---|---|---|---|
| 3 months | -10.48% | 1.28% | -0.72 | 55 |
| 6 months | -9.95% | 1.21% | -1.20 | 107 |
| 1 year | -8.93% | 1.60% | -1.55 | 208 |
| 3 years | -7.01% | — | — | — |
| 5 years | -5.84% | — | — | — |
Current contemporaneous premium/discount -11.40% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -12.87% to -5.41%. A negative Z-score means a wider discount than the window average — not that the fund is undervalued.
Performance
| Series | 1M | 3M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) |
|---|---|---|---|---|---|---|
| Market price return | -4.65% | -10.83% | -11.93% | -13.39% | +1.66% | -8.85% |
| Market price total return | -3.98% | -9.04% | -6.11% | -6.52% | +9.70% | -1.09% |
| NAV return | -2.56% | -5.48% | -7.19% | -6.68% | +3.38% | -5.23% |
| NAV total return | -1.97% | -3.78% | -1.65% | +0.03% | +10.96% | +2.36% |
Through Oct 14, 2026. Total return reinvests distributions at the series value on the ex-date. Cumulative ≤ 1 year, annualised beyond.
About the fund
Cohen & Steers Select Preferred and Income Fund, Inc. is a closed ended fixed income mutual fund launched by Cohen & Steers Inc. It is managed by Cohen & Steers Capital Management, Inc. The fund invests in the fixed income markets across the globe. It also invests some portion of its portfolio in other open-end funds, closed-end funds, or exchange traded funds that invest primarily in preferred and/or debt securities. The fund seeks to invest in traditional preferred securities, hybrid-preferred securities, floating rate preferred securities, corporate debt securities, and convertible securities with maturity of ten years or more. It intends to utilize leverage in an amount up to 33.33% of its managed assets through borrowings. The fund uses fundamental analysis and focuses on factors like issuer’s creditworthiness, account prevailing market factors, issuer’s corporate and capital structure, and the placement of the preferred or debt securities within that structure. It benchmarks the performance of its portfolio against the BofA Merrill Lynch Fixed Rate Preferred Index, Barclays Capital U.S. Aggregate Bond Index, and a composite benchmark comprising of 50% of the BofA Merrill Lynch US Capital Securities Index and 50% of the BofA Merrill Lynch Fixed Rate Preferred Index. Cohen & Steers Select Preferred and Income Fund, Inc. was formed on August 16, 2010 and is domiciled in the United States.
CEF Explorer research page for Cohen & Steers Select Preferred & Income Fund, Inc.. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.