CSB vs. OUSM

Last updated Jun 4, 2026

CSB (VictoryShares US Small Cap High Dividend Volatility Wtd ETF) and OUSM (OShares U.S. Small-Cap Quality Dividend ETF) are both Small Cap Blend Equities funds - CSB tracks the Nasdaq Victory U.S. Small Cap High Dividend 100 Volatility Weighted Index while OUSM tracks the O'Shares US Small-Cap Quality Dividend Index. Both are passively managed. Over the past 5 years, CSB returned 3.65%/yr vs 7.39%/yr for OUSM. Their correlation of 0.88 suggests significant overlap in exposure. CSB charges 0.35%/yr vs 0.48%/yr for OUSM.

Performance

CSB vs. OUSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VictoryShares US Small Cap High Dividend Volatility Wtd ETF (CSB) and OShares U.S. Small-Cap Quality Dividend ETF (OUSM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CSB achieves a 8.30% return, which is significantly higher than OUSM's 6.80% return.

CSB

• 1D: -1.09%
• 1M: -1.58%
• YTD: 8.30%
• 6M: 7.74%
• 1Y: 17.95%
• 3Y*: 11.48%
• 5Y*: 3.65%
• 10Y*: 9.58%

OUSM

• 1D: -0.06%
• 1M: 1.69%
• YTD: 6.80%
• 6M: 6.94%
• 1Y: 10.89%
• 3Y*: 11.71%
• 5Y*: 7.39%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CSB vs. OUSM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CSB VictoryShares US Small Cap High Dividend Volatility Wtd ETF	8.30%	2.26%	9.64%	12.60%	-13.11%	27.04%	11.30%	21.12%	-7.10%	11.32%
OUSM OShares U.S. Small-Cap Quality Dividend ETF	6.80%	2.17%	13.45%	18.82%	-7.89%	21.45%	7.64%	28.04%	-10.60%	10.85%

Correlation

The correlation between CSB and OUSM is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.88

The correlation between CSB and OUSM has been stable across timeframes, ranging from 0.87 to 0.89 - a consistent structural relationship.

CSB vs. OUSM - Sectors Allocation Comparison

Sectors	CSB	OUSM
Financial Services	26.5%	21.1%
Utilities	22.0%	3.9%
Consumer Cyclical	19.0%	19.3%
Energy	11.5%	0.3%
Industrials	8.5%	22.8%
Consumer Defensive	4.4%	4.9%
Communication Services	3.6%	3.8%
Basic Materials	3.4%	1.4%
Technology	1.2%	13.5%
Healthcare	0.4%	9.2%
Real Estate	-	-

Return for Risk

CSB vs. OUSM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CSB

CSB Risk / Return Rank: 40
CSB Sharpe Ratio Rank: 35
CSB Sortino Ratio Rank: 36
CSB Omega Ratio Rank: 33
CSB Calmar Ratio Rank: 51
CSB Martin Ratio Rank: 44

OUSM

OUSM Risk / Return Rank: 24
OUSM Sharpe Ratio Rank: 23
OUSM Sortino Ratio Rank: 24
OUSM Omega Ratio Rank: 22
OUSM Calmar Ratio Rank: 25
OUSM Martin Ratio Rank: 25

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CSB vs. OUSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VictoryShares US Small Cap High Dividend Volatility Wtd ETF (CSB) and OShares U.S. Small-Cap Quality Dividend ETF (OUSM). 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.

	CSB	OUSM	Difference
Sharpe ratio Return per unit of total volatility	1.25	0.83	+0.41
Sortino ratio Return per unit of downside risk	1.92	1.34	+0.58
Omega ratio Gain probability vs. loss probability	1.22	1.15	+0.07
Calmar ratio Return relative to maximum drawdown	2.51	1.19	+1.32
Martin ratio Return relative to average drawdown	7.26	3.47	+3.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CSB vs. OUSM - Sharpe Ratio Comparison

The current CSB Sharpe Ratio is 1.25, which is higher than the OUSM Sharpe Ratio of 0.83. The chart below compares the historical Sharpe Ratios of CSB and OUSM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CSB	OUSM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.25	0.83	+0.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.20	0.46	-0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.48	-0.03

Drawdowns

CSB vs. OUSM - Drawdown Comparison

The maximum CSB drawdown since its inception was -42.07%, which is greater than OUSM's maximum drawdown of -39.84%. Use the drawdown chart below to compare losses from any high point for CSB and OUSM.

Drawdown Indicators

	CSB	OUSM	Difference
Max Drawdown Largest peak-to-trough decline	-42.07%	-39.84%	-2.23%
Max Drawdown (1Y) Largest decline over 1 year	-7.18%	-9.21%	+2.03%
Max Drawdown (3Y) Largest decline over 3 years	-21.82%	-19.44%	-2.38%
Max Drawdown (5Y) Largest decline over 5 years	-24.49%	-19.44%	-5.05%
Max Drawdown (10Y) Largest decline over 10 years	-42.07%	—	—
Current Drawdown Current decline from peak	-3.12%	-1.67%	-1.45%
Average Drawdown Average peak-to-trough decline	-7.14%	-5.22%	-1.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.48%	3.14%	-0.66%

Volatility

CSB vs. OUSM - Volatility Comparison

VictoryShares US Small Cap High Dividend Volatility Wtd ETF (CSB) and OShares U.S. Small-Cap Quality Dividend ETF (OUSM) have volatilities of 3.59% and 3.66%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CSB	OUSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.59%	3.66%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	9.19%	9.25%	-0.06%
Volatility (1Y) Calculated over the trailing 1-year period	14.54%	13.15%	+1.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.78%	16.30%	+2.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.31%	18.94%	+2.37%

CSB vs. OUSM - Expense Ratio Comparison

CSB has a 0.35% expense ratio, which is lower than OUSM's 0.48% expense ratio.

Dividends

CSB vs. OUSM - Dividend Comparison

CSB's dividend yield for the trailing twelve months is around 3.26%, more than OUSM's 2.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CSB VictoryShares US Small Cap High Dividend Volatility Wtd ETF	3.26%	3.54%	3.12%	3.45%	3.60%	3.11%	3.70%	3.19%	3.45%	3.19%	2.85%	1.57%
OUSM OShares U.S. Small-Cap Quality Dividend ETF	2.07%	2.09%	1.62%	1.64%	1.98%	1.55%	2.02%	1.99%	2.63%	2.17%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CSB and OUSM in my portfolio?

CSB and OUSM have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CSB or OUSM?

OUSM has higher volatility (3.66%) compared to CSB (3.59%). In terms of maximum drawdown, CSB dropped -42.07% vs OUSM's -39.84%.

Which ETF is better, CSB or OUSM?

On 5-year performance, OUSM leads with 7.39% vs 3.65% for CSB. On fees, CSB is cheaper at 0.35% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CSB or OUSM?

Over the 5-year period, OUSM has performed better with a 7.39% return vs 3.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CSB or OUSM?

CSB is cheaper with a 0.35% expense ratio, compared with 0.48% for OUSM.

Which ETF pays a higher dividend yield, CSB or OUSM?

CSB has the higher dividend yield at 3.26%, compared with 2.07% for OUSM.

What is the main difference between CSB and OUSM?

CSB tracks Nasdaq Victory U.S. Small Cap High Dividend 100 Volatility Weighted Index, while OUSM tracks O'Shares US Small-Cap Quality Dividend Index. They also come from different issuers: Crestview and O'Shares Investments. Their fees differ too: 0.35% for CSB and 0.48% for OUSM.

Which has better risk-adjusted returns?

CSB currently has the higher Sharpe Ratio (1.25 vs 0.83), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.