Cohen & Steers Real Estate Active ETF

Cohen & Steers Real Estate Active ETF (CSRE) is an actively managed fund. It does not track an index. Instead, its managers pick about 42 real estate stocks, mostly US real estate investment trusts (REITs). They lean heavily on their top ideas: Welltower alone was 15.2% of assets as of June 30, 2026. The fund charges 0.70% a year after a fee waiver, well above the 0.39% average of similar funds.

• Over the year to Oct 27, 2026, CSRE returned +7.2%, 4th of 9 among similar funds.
• The deepest fall in its price history was 13% (Mar 3, 2025 to Apr 8, 2025), recovered by Jun 10, 2025.

As of Jun 30, 2026, the fund held 42 securities; the ten largest made up 56.67% of assets.

• Over the three months to Jun 30, 2026, investors added a net $126.9M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +9.47%, -1.07%, +0.33%.

CSRE follows no index. Cohen & Steers runs the fund with two affiliates, Cohen & Steers Asia and Cohen & Steers UK. They use a bottom-up, relative value process: they study companies one by one and favor those that look cheap next to their peers. An in-house model scores each stock on three measures. The first is price compared with net asset value, meaning the estimated worth of a company's property minus its debt. The second is cash flow multiples compared with growth. The third is a dividend discount model, which values a stock by its expected future dividends. Analysts also judge each company's management, property quality, finances, and the supply and demand for its type of property.

Under normal conditions, at least 80% of the fund goes into real estate stocks. Between 5% and 25% goes into foreign companies. Up to 20% may go into debt, including junk bonds, which are bonds with lower credit ratings and more risk of default. Position sizes come from the managers' judgment, not a formula. Portfolio turnover was 52%, so about half the portfolio changed over the period the prospectus reports.

The fund uses currency forward contracts to reduce the effect of exchange-rate swings on its foreign stocks. As of June 30, 2026, it held six such contracts, which swapped Australian dollars, Japanese yen and other currencies for US dollars. US companies made up 93.1% of assets. The fund does not use leverage or options strategies.

• CSRE charges 0.7% a year, versus an average of 0.39% for the similar funds below (9th of 9, cheapest first).
• Of that, 0.8% is the management fee; the rest covers other fund expenses.
• The fee includes a 0.1% waiver from the adviser, which may end.
• Using the prospectus's standard example, $10,000 invested would cost about $72 in the first year and $980 over 10 years (assuming a 5% annual return).

It adds a concentrated slice of real estate stocks, which moved only loosely with the broad market in its first year: its beta was 0.25.

Beta measures how closely a fund moves with the overall stock market. CSRE's beta was 0.25 for the year ending October 27, 2026, so it moved only loosely with stocks in that period. The fund launched in February 2025. That means it has no record through the 2008, 2020 or 2022 market crashes, and it has not yet completed a full calendar year. Its deepest drop was 13%, from March 3 to April 8, 2025, and it was back to its peak by June 10, 2025, about two months later. A longer slump in real estate could hit harder, which matters for anyone who has to cash out shares in a bad year. The fund pays income quarterly, and its trailing 12-month yield was 2.06% as of October 27, 2026. In the SEC's standard example, $10,000 invested would cost $980 in fees over 10 years. Past results don't predict future returns, and a plan should look at the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.