CSAIX vs. SPY
Compare and contrast key facts about Credit Suisse Managed Futures Strategy Fund (CSAIX) and State Street SPDR S&P 500 ETF (SPY).
CSAIX is managed by Credit Suisse. It was launched on Sep 27, 2012. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
CSAIX vs. SPY - Performance Comparison
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CSAIX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CSAIX Credit Suisse Managed Futures Strategy Fund | 2.62% | -5.84% | -5.57% | -6.15% | 21.24% | 7.46% | 1.86% | -4.39% | -4.01% | -1.47% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, CSAIX achieves a 2.62% return, which is significantly higher than SPY's -4.37% return. Over the past 10 years, CSAIX has underperformed SPY with an annualized return of 0.15%, while SPY has yielded a comparatively higher 13.98% annualized return.
CSAIX
- 1D
- -0.62%
- 1M
- -3.19%
- YTD
- 2.62%
- 6M
- 6.68%
- 1Y
- -4.04%
- 3Y*
- -3.66%
- 5Y*
- 0.73%
- 10Y*
- 0.15%
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
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CSAIX vs. SPY - Expense Ratio Comparison
CSAIX has a 1.30% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
CSAIX vs. SPY — Risk / Return Rank
CSAIX
SPY
CSAIX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Credit Suisse Managed Futures Strategy Fund (CSAIX) and State Street SPDR S&P 500 ETF (SPY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| CSAIX | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.38 | 0.93 | -1.30 |
Sortino ratioReturn per unit of downside risk | -0.39 | 1.45 | -1.85 |
Omega ratioGain probability vs. loss probability | 0.94 | 1.22 | -0.28 |
Calmar ratioReturn relative to maximum drawdown | -0.32 | 1.53 | -1.85 |
Martin ratioReturn relative to average drawdown | -0.45 | 7.30 | -7.75 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CSAIX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.38 | 0.93 | -1.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.07 | 0.69 | -0.62 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.01 | 0.78 | -0.77 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.56 | -0.33 |
Correlation
The correlation between CSAIX and SPY is 0.13, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
CSAIX vs. SPY - Dividend Comparison
CSAIX's dividend yield for the trailing twelve months is around 2.91%, more than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CSAIX Credit Suisse Managed Futures Strategy Fund | 2.91% | 2.27% | 2.95% | 0.52% | 18.80% | 8.84% | 0.00% | 1.74% | 0.00% | 0.00% | 2.64% | 8.69% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
CSAIX vs. SPY - Drawdown Comparison
The maximum CSAIX drawdown since its inception was -28.79%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for CSAIX and SPY.
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Drawdown Indicators
| CSAIX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.79% | -55.19% | +26.40% |
Max Drawdown (1Y)Largest decline over 1 year | -13.92% | -12.05% | -1.87% |
Max Drawdown (5Y)Largest decline over 5 years | -28.79% | -24.50% | -4.29% |
Max Drawdown (10Y)Largest decline over 10 years | -28.79% | -33.72% | +4.93% |
Current DrawdownCurrent decline from peak | -20.43% | -6.24% | -14.19% |
Average DrawdownAverage peak-to-trough decline | -9.43% | -9.09% | -0.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.41% | 2.52% | +7.89% |
Volatility
CSAIX vs. SPY - Volatility Comparison
The current volatility for Credit Suisse Managed Futures Strategy Fund (CSAIX) is 4.58%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 5.31%. This indicates that CSAIX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CSAIX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.58% | 5.31% | -0.73% |
Volatility (6M)Calculated over the trailing 6-month period | 10.04% | 9.47% | +0.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.60% | 19.05% | -6.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.42% | 17.06% | -6.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.02% | 17.92% | -7.90% |