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Trending ETFs

Cohen & Steers Real Assets Fund, Inc.

mutual fund
RAPIX
Payout Change
Pending
Price as of:
$10.65 +0.06 +0.57%
primary theme
N/A
share class
R (RAPRX) Z (RAPZX) I (RAPIX) A (RAPAX) C (RAPCX)
RAPIX (Mutual Fund)

Cohen & Steers Real Assets Fund, Inc.

Payout Change
Pending
Price as of:
$10.65 +0.06 +0.57%
primary theme
N/A
share class
R (RAPRX) Z (RAPZX) I (RAPIX) A (RAPAX) C (RAPCX)
RAPIX (Mutual Fund)

Cohen & Steers Real Assets Fund, Inc.

Payout Change
Pending
Price as of:
$10.65 +0.06 +0.57%
primary theme
N/A
share class
R (RAPRX) Z (RAPZX) I (RAPIX) A (RAPAX) C (RAPCX)

Name

As of 10/11/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Cohen & Steers Real Assets Fund, Inc.

RAPIX | Fund

$10.65

$830 M

3.19%

$0.34

1.01%

Vitals

YTD Return

9.5%

1 yr return

16.6%

3 Yr Avg Return

4.5%

5 Yr Avg Return

7.0%

Net Assets

$830 M

Holdings in Top 10

29.4%

52 WEEK LOW AND HIGH

$10.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.01%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 71.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$100,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 10/11/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Cohen & Steers Real Assets Fund, Inc.

RAPIX | Fund

$10.65

$830 M

3.19%

$0.34

1.01%

RAPIX - Profile

Distributions

  • YTD Total Return 9.5%
  • 3 Yr Annualized Total Return 4.5%
  • 5 Yr Annualized Total Return 7.0%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.08%
DIVIDENDS
  • Dividend Yield 3.2%
  • Dividend Distribution Frequency SemiAnnual

Fund Details

  • Legal Name
    Cohen & Steers Real Assets Fund, Inc.
  • Fund Family Name
    COHENSTEER
  • Inception Date
    Jan 31, 2012
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Benjamin Morton

Fund Description

The Fund seeks to achieve attractive total returns over the long-term and to maximize real returns during inflationary environments. “Real returns” are defined as total returns adjusted for the effects of inflation. The Fund pursues its objectives through investments offering exposure to “real assets,” which the Fund defines as (i) real estate, commodities, natural resources, infrastructure and gold and other precious metals; (ii) companies that own or derive a significant portion of their value from such real assets or the production thereof; and (iii) other assets expected to perform well during periods of high inflation. Under normal market conditions, the Fund seeks to achieve its investment objectives by allocating at least 80% of its net assets to U.S. and non-U.S. investments providing exposure to or investment in the following real asset classes: (i) real estate companies, including real estate investment trusts (“REITs”); (ii) commodities; (iii) natural resource companies; (iv) infrastructure companies; and (v) gold and other precious metals. The Fund may also invest in certain short-term fixed income securities to manage portfolio volatility.  The Fund will not seek to achieve specific environmental, social and governance (“ESG”) outcomes through its portfolio of investments, nor will it pursue an overall impact or sustainable investment strategy. However, the Advisor may incorporate consideration of relevant ESG factors into its investment decision making. For example, although the Advisor does not generally exclude investments based on ESG factors alone, when considering an investment opportunity with material exposure to carbon emission regulation, this risk may be considered as one factor in the Advisor’s holistic review process.The Fund is actively managed by the Advisor. To pursue its goal, the Advisor combines a top-down approach, focused on identifying relative value across multiple classes of real assets, with bottom-up security selection based on fundamental research concentrated at the sector-, industry-, and security-levels. When making allocation decisions, the Advisor conducts quantitative and qualitative analysis, aiming to optimize the balance between relative return potential and risk across asset classes. The goal of this process is to establish a target asset allocation for the Fund intended to meet its objectives while maintaining a risk/return profile that is consistent with the Fund’s investment objectives. In choosing investments at the asset class level, the Advisor, through its specialized investment teams, follows an active fundamental approach focused on identifying what are believed to be securities or trading strategies possessing superior risk-adjusted return profiles. For each real asset allocation, the Advisor seeks to outperform a passive allocation to that asset class over a full market cycle. While the Fund is not constrained to allocate its investments among asset classes according to specific ranges, under normal circumstances the Advisor expects the Fund’s assets to be allocated to each asset class within the allocation ranges set forth in the table below. In addition, the Advisor has appointed a committee (the “Asset Allocation Committee”)  consisting of a select group of the Advisor’s senior investment professionals, to periodically review the Fund’s asset allocation and allocation targets. Actual allocations may vary at any time and may move and remain outside of these ranges for a variety of reasons, including, but not limited to, changes in investment outlook, market movements, cash flows into or out of the Fund and other factors, such as that securities held within one asset class will overlap with another asset class (e.g., gold and other precious metals overlap with the commodities and natural resource companies asset classes).Asset ClassAllocationRangeReal Estate Companies/REITs20-35Commodities20-35Natural Resource Companies10-20Infrastructure Companies and Master Limited Partnerships (“MLPs”)10-20Gold and Other Precious Metals0-10Fixed Income Securities0-20The Fund expects that it will achieve a significant portion of its exposure to commodities through investment in Cohen & Steers Real Assets Fund, Ltd., a wholly owned subsidiary of the Fund organized under the laws of the Cayman Islands (the “Subsidiary”). The Fund’s investment in the Subsidiary is expected to provide the Fund with exposure to this asset class within the limits of the federal income tax requirements applicable to regulated investment companies (“RICs”) such as the Fund. Unlike the Fund, the Subsidiary may invest without limitation in commodities, including gold and other precious metals. See “Additional Information—Tax Considerations.” Except as otherwise noted, references to the investment strategies and risks of the Fund include the investment strategies and risks of the Subsidiary.Real Estate Companies/REITsThe Fund will gain exposure to real estate by investing in securities issued by U.S. and non-U.S. real estate companies, including REITs and similar REIT-like entities. Some investments in other asset classes have similar underlying characteristics which may cause the Fund’s real estate allocation range to be exceeded.A real estate company is one that (i) derives at least 50% of its revenue from the ownership, construction, financing, management or sale of commercial, industrial or residential real estate and land; or (ii) has at least 50% of its assets invested in such real estate. REITs are companies that own interests in real estate or in real estate related loans or other interests, and their revenue primarily consists of rent derived from owned, income producing real estate properties and capital gains from the sale of such properties. A REIT in the U.S. is generally not taxed on income distributed to shareholders so long as it meets certain tax related requirements, including the requirement that it distribute substantially all of its taxable income to such shareholders (other than net capital gains for each taxable year). Foreign REITs and REIT-like entities are organized outside of the U.S. and have operations and receive tax treatment similar to that of U.S. REITs in their respective countries.Securities of real estate companies may include common stocks and other equity securities, preferred securities and debt securities (including convertible securities). The Fund may invest in global real estate companies of any market capitalization and in any geographic region.The Fund may participate in the initial public offering (“IPO”) market of securities issued by real estate companies.CommoditiesCommodities are assets that have tangible properties and that are used in commerce, such as fuels (e.g., crude oil, natural gas and gasoline), precious and industrial metals, livestock and agricultural products. The Fund intends to have targeted exposure to commodities, diversified across various sectors and industries.The Fund seeks to gain exposure to commodity markets, either directly or through the Subsidiary, by investing in derivatives, primarily in exchange traded commodity futures contracts, call and put options on commodity futures contracts, and commodity swaps. The Fund may invest in exchange traded products, such as exchange-traded funds (“ETFs”), that have exposure to commodities and are primarily listed on U.S. exchanges when futures contracts are not warranted or available. As part of its investment strategy, the Fund, either directly or through the Subsidiary, will also hold cash or cash equivalents, fixed income securities or other assets to serve as margin or collateral for its positions in these derivative instruments. Generally, these derivative instruments produce leveraged exposure to the commodities markets.The Fund strives to keep its Commodities allocation fully invested, except during periods of repositioning, to address settlement issues, to provide sufficient cash and cash equivalents for daily margin maintenance and in other appropriate circumstances as determined by the Advisor.Natural Resource CompaniesThe Fund will gain exposure to natural resource companies by investing in securities of U.S. and non- U.S. companies with substantial natural resource assets or whose business activities are related to natural resource assets. Such securities may include, for example, common stocks and other equity securities, preferred securities and debt securities, or other securities or instruments. Natural resources may include materials with economic value that are derived from natural sources, either directly or indirectly, such as precious metals (e.g., gold, platinum, palladium or silver), non-precious metals (e.g., copper, zinc or iron ore), fuels (e.g., oil, natural gas or coal), minerals, timber and forestry products, food and agricultural products (e.g., fertilizer), farm machinery and chemicals. Natural resource companies will primarily be involved in exploring for, mining, extracting, producing, processing, transporting, or otherwise developing or providing goods and services with respect to, a natural resource. Natural resource companies may also include companies which provide services to such companies (e.g., equipment manufacturers).The Fund may invest in natural resource companies of any market capitalization and in any geographic region. The Fund may participate in the IPO market of securities issued by natural resource companies.Some investments in other asset classes have similar underlying characteristics which may cause the Fund’s natural resources allocation range to be exceeded.Infrastructure Companies and MLPsThe Fund may invest in common stocks and other equity securities, preferred securities and fixed income securities of U.S. and non-U.S. infrastructure companies. Infrastructure companies are companies that derive at least 50% of their revenues from, or have at least 50% of their assets committed to, the management, ownership, operation, construction, development or financing of assets used in connection with: the generation, production, transmission, sale or distribution of electric energy, natural gas, natural gas liquids (including propane), crude oil, refined petroleum products, coal or other energy sources; the distribution, purification and treatment of water; provision of communications services, including cable television, satellite, microwave, radio, telephone and other communications media; or the provision of transportation services, including toll roads, airports, railroads or marine ports. Infrastructure companies also include companies organized as MLPs.The Fund may invest in infrastructure companies of any market capitalization and in any geographic region. The Fund may participate in the IPO market of securities issued by infrastructure companies.Some investments in other asset classes have similar underlying characteristics which may cause the Fund’s infrastructure and MLPs allocation range to be exceeded.Gold and Other Precious MetalsThe Fund seeks to gain exposure to gold and other precious metals, either directly or through the Subsidiary, through investments in bullion (e.g., bars and coins), and ETFs and other pooled investment vehicles that invest in gold and other precious metals and related instruments. The Fund, either directly or through the Subsidiary, may also invest in precious metal futures, forwards and swaps, and structured notes or Exchange-Traded Notes (“ETN”) whose interest and/or principal payments are linked to the price of gold and other precious metals. The Fund currently expects that the majority of its precious metals exposure, if any, will be to gold.Fixed-Income SecuritiesThe Fund may invest up to 20% of its net assets in fixed-income securities, including preferred securities. Fixed-income securities include those issued by U.S. and non-U.S. government, corporate and other issuers, Treasury Inflation Protected Securities (“TIPS”) and other inflation-linked fixed income securities and subordinated fixed-income securities. The Fund intends to invest primarily in fixed income securities that are rated investment grade or, if unrated, are of equivalent credit quality as determined by the Advisor. The Fund intends to invest primarily in fixed income securities with maturities generally less than 10 years, but may invest in securities of any maturity. The Fund may invest in securities denominated in U.S. and foreign currencies. The Fund’s fixed-income investments may have fixed or variable principal payments and all types of interest rate payment and reset terms, including but not limited to, fixed rate, floating rate, zero coupon, contingent, deferred and payment in kind. The Fund may purchase or sell securities on a when-issued, delayed delivery or forward commitment basis.Additional InvestmentsThe Fund may invest up to 20% of its net assets in equity securities, preferred securities, fixed income securities (including convertible securities) and ETNs, other than those set forth above. The Fund expects that the fixed income securities in which it will invest pursuant to this paragraph (other than convertible securities) will consist primarily of securities that are rated investment grade or, if unrated, are of equivalent credit quality as determined by the Advisor.The Fund may invest in securities of other closed-end or open-end funds, including ETFs and other funds to the extent permitted under Section 12(d)(1) of the Investment Company Act of 1940 (the “1940 Act”) and the rules thereunder, or any exemption granted under the 1940 Act.The Fund may use exchange-traded and over-the-counter (“OTC”) derivatives, including, but not limited to, options, futures, forwards, swaps or structured notes, for a variety of other purposes, including: as a hedge against adverse changes in the market price of securities, interest rates or currency exchange rates; as a substitute for purchasing or selling securities; and to increase the fund’s return as a non- hedging strategy that may be considered speculative. Subject to the limits described above, the Fund may invest without limit in derivative instruments.
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RAPIX - Performance

Return Ranking - Trailing

Period RAPIX Return Category Return Low Category Return High Rank in Category (%)
YTD 9.5% -23.7% 16.4% 2.79%
1 Yr 16.6% -8.9% 48.3% 1.72%
3 Yr 4.5%* -2.2% 16.4% 3.12%
5 Yr 7.0%* -0.7% 13.4% 8.18%
10 Yr 4.1%* 0.9% 11.8% 85.52%

* Annualized

Return Ranking - Calendar

Period RAPIX Return Category Return Low Category Return High Rank in Category (%)
2023 1.0% -40.8% 20.6% 12.42%
2022 -5.0% -21.0% 24.5% 80.87%
2021 12.4% -24.2% 27.8% 32.01%
2020 -2.7% -23.1% 11.7% 29.85%
2019 14.2% -100.0% 20.6% 93.19%

Total Return Ranking - Trailing

Period RAPIX Return Category Return Low Category Return High Rank in Category (%)
YTD 9.5% -23.7% 16.4% 3.22%
1 Yr 16.6% -12.8% 48.3% 1.48%
3 Yr 4.5%* -3.4% 16.4% 2.62%
5 Yr 7.0%* -1.1% 13.4% 7.55%
10 Yr 4.1%* 0.9% 11.8% 84.81%

* Annualized

Total Return Ranking - Calendar

Period RAPIX Return Category Return Low Category Return High Rank in Category (%)
2023 3.9% -40.8% 20.6% 12.42%
2022 -2.0% -21.0% 24.5% 80.87%
2021 22.9% -24.2% 27.8% 32.01%
2020 -0.9% -23.1% 11.7% 51.86%
2019 17.4% -2.9% 23.1% 95.64%

NAV & Total Return History

RAPIX - Holdings

Concentration Analysis

RAPIX Category Low Category High RAPIX % Rank
Net Assets 830 M 1.12 M 110 B 44.71%
Number of Holdings 317 2 10961 49.48%
Net Assets in Top 10 250 M -31.7 M 22 B 41.34%
Weighting of Top 10 29.43% 10.8% 100.0% 37.92%

Top 10 Holdings

  1. U.S. Treasury Bills 6.81%
  2. U.S. Treasury Bills 5.27%
  3. SPDR Gold MiniShares Trust 3.14%
  4. U.S. Treasury Bills 3.04%
  5. U.S. Treasury Bills 2.59%
  6. Welltower Inc 1.87%
  7. Prologis Inc 1.84%
  8. U.S. Treasury Bills 1.70%
  9. U.S. Treasury Bills 1.59%
  10. American Tower Corp 1.58%

Asset Allocation

Weighting Return Low Return High RAPIX % Rank
Stocks 		63.28% -45.72% 98.42% 69.10%
Cash 		24.68% -97.12% 185.58% 34.86%
Bonds 		12.64% -39.76% 93.84% 86.22%
Convertible Bonds 		0.61% 0.00% 25.49% 33.19%
Preferred Stocks 		0.03% -0.03% 14.00% 14.61%
Other 		-0.63% -1.25% 197.12% 3.55%

Stock Sector Breakdown

Weighting Return Low Return High RAPIX % Rank
Real Estate 		46.12% 0.00% 90.14% 2.55%
Energy 		17.83% 0.00% 38.61% 9.77%
Basic Materials 		13.40% 0.00% 60.23% 10.62%
Utilities 		9.73% 0.00% 40.29% 12.74%
Industrials 		6.12% 0.09% 32.39% 88.75%
Consumer Defense 		5.06% 0.00% 31.85% 63.27%
Communication Services 		1.16% 0.00% 28.59% 91.08%
Consumer Cyclical 		0.40% 0.00% 20.84% 96.82%
Technology 		0.18% 0.00% 39.48% 94.48%
Healthcare 		0.00% 0.00% 30.30% 99.58%
Financial Services 		0.00% 0.00% 30.34% 99.58%

Stock Geographic Breakdown

Weighting Return Low Return High RAPIX % Rank
US 		38.15% -4.82% 95.75% 53.86%
Non US 		25.13% -46.69% 57.06% 57.83%

Bond Sector Breakdown

Weighting Return Low Return High RAPIX % Rank
Corporate 		53.48% 0.00% 99.90% 21.09%
Cash & Equivalents 		23.33% 0.10% 100.00% 19.42%
Government 		4.27% 0.00% 98.64% 81.00%
Securitized 		0.00% 0.00% 83.28% 98.12%
Municipal 		0.00% 0.00% 31.28% 97.70%
Derivative 		-0.63% 0.00% 41.88% 97.70%

Bond Geographic Breakdown

Weighting Return Low Return High RAPIX % Rank
US 		12.64% -177.12% 87.76% 82.05%
Non US 		0.00% -39.00% 137.36% 71.40%

RAPIX - Expenses

Operational Fees

RAPIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.01% 0.16% 2.71% 78.91%
Management Fee 0.75% 0.00% 1.70% 74.73%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.08% 0.01% 0.70% 42.11%

Sales Fees

RAPIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

RAPIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

RAPIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 71.00% 0.00% 441.00% 63.64%

RAPIX - Distributions

Dividend Yield Analysis

RAPIX Category Low Category High RAPIX % Rank
Dividend Yield 3.19% 0.00% 10.92% 98.13%

Dividend Distribution Analysis

RAPIX Category Low Category High Category Mod
Dividend Distribution Frequency SemiAnnual Annually Monthly Monthly

Net Income Ratio Analysis

RAPIX Category Low Category High RAPIX % Rank
Net Income Ratio 1.08% -5.20% 6.33% 66.23%

Capital Gain Distribution Analysis

RAPIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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RAPIX - Fund Manager Analysis

Managers

Benjamin Morton

Start Date

Tenure

Tenure Rank

Jan 31, 2012

10.34

10.3%

Benjamin Morton, Executive Vice President, is Head of Global Infrastructure and a senior portfolio manager for Cohen & Steers' infrastructure portfolios, including those focused on master limited partnerships. He has 21 years of infrastructure-related investment experience. Prior to joining Cohen & Steers in 2003, Mr. Morton worked at Salomon Smith Barney as a research associate for three years, covering the utility and pipelines sectors. He also worked at New York Mercantile Exchange as a research analyst. Mr. Morton holds a BA from the University of Rochester and an MES from Yale University. He is based in New York.

Jon Cheigh

Start Date

Tenure

Tenure Rank

May 31, 2012

10.01

10.0%

Jon Y. Cheigh joined Cohen & Steers in 2005 and currently serves as Executive Vice President and head of the global real estate investment team. Prior to joining Cohen & Steers in 2005, Mr. Cheigh was a vice president and senior REIT analyst for two years at Security Capital Research & Management. Previously, he was a vice president of real estate acquisitions at InterPark and an acquisitions associate at Urban Growth Property Trust, two privately held REITs. Mr. Cheigh holds a BA cum laude from Williams College and an MBA from the University of Chicago.

Benjamin Ross

Start Date

Tenure

Tenure Rank

May 01, 2013

9.09

9.1%

Ben Ross—Mr. Ross joined Cohen & Steers Capital Management, Inc. in 2013 and currently serves as senior vice president of the Advisor and CNS. Previously at GE Asset Management (“GEAM”), Mr. Ross was co-portfolio manager of the GE Active Commodities strategy since inception. Earlier, Mr. Ross was a Senior Trader at GEAM, leading the international equity trading desk. Before joining GE in 1996, he worked at State Street Bank & Trust. Mr. Ross has a BS from Northeastern University.

Nicholas Koutsoftas

Start Date

Tenure

Tenure Rank

May 01, 2013

9.09

9.1%

Nick Koutsoftas, Senior Vice President, is a portfolio manager for Cohen & Steers’ commodities strategy. Prior to joining the firm in 2013, Mr. Koutsoftas was a senior vice president at GE Asset Management and co-portfolio manager of the GE Active Commodities strategy since its 2006 inception. He joined GE Asset Management in 1999 and began his career at GE in 1995. Mr. Koutsoftas has a BSE from the University of Massachusetts and an MBA from New York University Stern School of Business. He is based in New York.

Vincent Childers

Start Date

Tenure

Tenure Rank

Aug 12, 2013

8.81

8.8%

Vince Childers, CFA, Senior Vice President, is a portfolio manager for Cohen & Steers’ real assets strategy. He has 19 years of investment experience. Prior to joining the firm in 2013, Mr. Childers was a portfolio manager for real asset strategies at AllianceBernstein, where he co-managed a research team overseeing $2.3 billion in assets. Previously, Mr. Childers was an associate in the financial advisory services department of Houlihan Lokey. Mr. Childers has an MBA from Carnegie Mellon University and a BS from Vanderbilt University. He is based in New York.

Jeffrey Palma

Start Date

Tenure

Tenure Rank

Apr 29, 2022

0.09

0.1%

On November 15, 2021 Jeff Palma, Senior Vice President and Head of Multi-Asset Solutions, joined the firm. In a newly created position reporting to Jon Cheigh, Chief Investment Officer, Mr. Palma is responsible for leading the firm’s asset allocation teams and strategies, and macroeconomic research. Mr. Palma joins Cohen & Steers with 25 years of investment experience. Most recently at State Street Global Advisors, he was a Managing Director and Head of Public Investments for SSGA’s Outsourced Chief Investment Officer (OCIO) platform, overseeing teams responsible for investment strategy, portfolio construction, manager research, tactical market positioning and portfolio implementation. Prior to that, Mr. Palma was the Head of Tactical Asset Allocation for GE Pension Trust, Portfolio Manager for GE Institutional Strategic Investment Fund, and Chief Market Strategist at GE Asset Management when it was acquired by SSGA in 2016. Before joining GE in 2012, he was most recently the Head of Global Equity Strategy at UBS Investment Bank. At UBS, he was responsible for the firm’s regional and sector allocation view on global equities, and served as a member of its macro strategy board.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.03 30.27 6.52 9.25

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