FOF vs PAYR
Cohen & Steers Closed-End Opportunity Fund Inc. vs Federated Hermes Enhanced Income ETF
Which is better, FOF or PAYR?
PAYR has been ahead.
PAYR has a lower expense ratio. PAYR led over 1Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | FOF | PAYR |
|---|---|---|
| Expense Ratio | 0.95% | 0.40%Best |
| AUM | $355M | $82M |
| Dividend Yield | 8.21% | 8.32% |
| Holdings | 106 | 55 |
| YTD Return | -0.73% | +6.04%Best |
| 1Y Return | +1.14% | +9.06%Best |
| 3Y Return (annualized) | +15.94% | - |
| 5Y Return (annualized) | +6.12% | - |
| Volatility (annualized) | 22.1% | 12.7%Best |
| Max Drawdown | -15.1% | -8.8%Best |
| $10,000 over 1 years | $10,110 | $10,927Best |
| Fund Family | Cohen & Steers Funds | Federated Hermes Funds |
| Category | Allocation/Balanced | Allocation/Balanced |
| Style | Allocation/Balanced | Allocation/Balanced |
| Inception | Nov 20, 2006 | Oct 7, 2025 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1 years row, are measured over the window both funds cover: Oct 8, 2025 to Oct 14, 2026 (1 years).
FOF vs PAYR growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1 years both funds cover.
FOF vs PAYR Performance
Cohen & Steers Closed-End Opportunity Fund Inc. (FOF) is an ETF from Cohen & Steers Funds and Federated Hermes Enhanced Income ETF (PAYR) is an ETF from Federated Hermes Funds. Over the past year FOF returned +1.14% while PAYR returned +9.06%. Year to date, FOF is down 0.73% versus a gain of 6.04% for PAYR.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FOF has been the more volatile fund, with annualized monthly volatility of 22.1% compared with 12.7% for PAYR. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -15.1% for FOF and -8.8% for PAYR. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.54. They move together some of the time, and apart the rest.
Fees and Cost Over Time
FOF charges 0.95% per year while PAYR charges 0.40%. On a $10,000 position that is $95 vs $40 annually, a gap of $55 per year that compounds over a long holding period. On income, FOF currently yields 8.21% against 8.32% for PAYR.
Holdings Overlap
We hold position weights for 113 holdings in FOF and 46 in PAYR, totalling 98.4% and 91.8% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 94 days apart, FOF as of Jun 30, 2026 and PAYR as of Oct 2, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 113 positions we hold weights for in FOF and 46 in PAYR, against full books of 106 and 55.
You are not choosing between two funds in isolation.
Whichever of FOF and PAYR you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FOF or PAYR?
FOF has an expense ratio of 0.95% while PAYR charges 0.40%. PAYR is the cheaper option, by $55 a year on a $10,000 investment.
Which performed better, FOF or PAYR?
Over the past year FOF returned +1.14% vs +9.06% for PAYR, so PAYR leads on 1-year performance. Over the longest common window we track (1 years), FOF annualized +1.10% vs +9.27% for PAYR. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FOF or PAYR?
FOF has been the more volatile fund at 22.1% annualized versus 12.7% for PAYR. Worst drawdown: FOF -15.1% vs PAYR -8.8%.
Should I hold both FOF and PAYR?
FOF and PAYR have a monthly-return correlation of 0.54, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, FOF or PAYR?
FOF yields 8.21% while PAYR yields 8.32%, so PAYR currently pays the higher dividend yield.
Is PAYR better than FOF?
PAYR has a lower expense ratio. PAYR led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.