CSB vs. RYLD

Last updated Jun 24, 2026

CSB (VictoryShares US Small Cap High Dividend Volatility Wtd ETF) and RYLD (Global X Russell 2000 Covered Call ETF) are both exchange-traded funds - CSB is a Small Cap Blend Equities fund tracking the Nasdaq Victory U.S. Small Cap High Dividend 100 Volatility Weighted Index, while RYLD is a Derivative Income fund tracking the CBOE Russell 2000 BuyWrite Index. Both are passively managed. Over the past 5 years, CSB returned 4.69%/yr vs 2.45%/yr for RYLD. A 0.75 correlation means they provide meaningful diversification when combined. CSB charges 0.35%/yr vs 0.60%/yr for RYLD.

Performance

CSB vs. RYLD - 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 Global X Russell 2000 Covered Call ETF (RYLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CSB achieves a 11.28% return, which is significantly higher than RYLD's 9.51% return.

CSB

• 1D: 1.01%
• 1M: 0.76%
• YTD: 11.28%
• 6M: 10.03%
• 1Y: 20.88%
• 3Y*: 12.91%
• 5Y*: 4.69%
• 10Y*: 10.15%

RYLD

• 1D: -0.50%
• 1M: 2.12%
• YTD: 9.51%
• 6M: 8.37%
• 1Y: 20.74%
• 3Y*: 8.72%
• 5Y*: 2.45%
• 10Y*: —

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

CSB vs. RYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
CSB VictoryShares US Small Cap High Dividend Volatility Wtd ETF	11.28%	2.26%	9.64%	12.60%	-13.11%	27.04%	11.30%	7.18%
RYLD Global X Russell 2000 Covered Call ETF	9.51%	5.65%	10.13%	0.27%	-13.03%	22.13%	-0.44%	8.86%

Correlation

The correlation between CSB and RYLD is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since Apr 22, 2019	0.75

The correlation between CSB and RYLD shifts across timeframes, from 0.60 (1 year) to 0.75 (5 years), reflecting how their relationship changes across market environments.

CSB vs. RYLD - Sectors Allocation Comparison

Sectors	CSB	RYLD
Financial Services	26.9%	15.5%
Utilities	21.7%	2.8%
Consumer Cyclical	19.5%	8.0%
Energy	10.6%	5.4%
Industrials	8.5%	18.0%
Communication Services	4.0%	2.4%
Consumer Defensive	4.0%	2.3%
Basic Materials	3.6%	4.7%
Technology	1.3%	19.0%
Healthcare	0.4%	16.3%
Real Estate	-	5.9%

Return for Risk

CSB vs. RYLD — Risk / Return Rank

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

CSB

CSB Risk / Return Rank: 49
CSB Sharpe Ratio Rank: 44
CSB Sortino Ratio Rank: 46
CSB Omega Ratio Rank: 42
CSB Calmar Ratio Rank: 63
CSB Martin Ratio Rank: 52

RYLD

RYLD Risk / Return Rank: 68
RYLD Sharpe Ratio Rank: 62
RYLD Sortino Ratio Rank: 62
RYLD Omega Ratio Rank: 73
RYLD Calmar Ratio Rank: 69
RYLD Martin Ratio Rank: 74

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. RYLD - 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 Global X Russell 2000 Covered Call ETF (RYLD). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CSB	RYLD	Difference
Sharpe ratio: Return per unit of total volatility	1.45	1.96	-0.50
Sortino ratio: Return per unit of downside risk	2.20	2.76	-0.56
Omega ratio: Gain probability vs. loss probability	1.26	1.41	-0.15
Calmar ratio: Return relative to maximum drawdown	2.92	3.31	-0.39
Martin ratio: Return relative to average drawdown	8.44	13.37	-4.93

CSB vs. RYLD - Sharpe Ratio Comparison

The current CSB Sharpe Ratio is 1.45, which is comparable to the RYLD Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of CSB and RYLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CSB vs. RYLD - Drawdown Comparison

The maximum CSB drawdown since its inception was -42.07%, roughly equal to the maximum RYLD drawdown of -41.53%. Use the drawdown chart below to compare losses from any high point for CSB and RYLD.

Drawdown Indicators

	CSB	RYLD	Difference
Max Drawdown Largest peak-to-trough decline	-42.07%	-41.53%	-0.54%
Max Drawdown (1Y) Largest decline over 1 year	-7.18%	-6.29%	-0.89%
Max Drawdown (3Y) Largest decline over 3 years	-21.82%	-19.05%	-2.77%
Max Drawdown (5Y) Largest decline over 5 years	-24.49%	-21.33%	-3.16%
Max Drawdown (10Y) Largest decline over 10 years	-42.07%	—	—
Current Drawdown Current decline from peak	-0.75%	-0.50%	-0.25%
Average Drawdown Average peak-to-trough decline	-7.11%	-8.78%	+1.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.48%	1.55%	+0.93%

Volatility

CSB vs. RYLD - Volatility Comparison

VictoryShares US Small Cap High Dividend Volatility Wtd ETF (CSB) has a higher volatility of 3.79% compared to Global X Russell 2000 Covered Call ETF (RYLD) at 2.00%. This indicates that CSB's price experiences larger fluctuations and is considered to be riskier than RYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CSB	RYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.79%	2.00%	+1.79%
Volatility (6M) Calculated over the trailing 6-month period	9.28%	7.80%	+1.48%
Volatility (1Y) Calculated over the trailing 1-year period	14.48%	10.66%	+3.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.71%	14.05%	+4.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.31%	17.15%	+4.16%

CSB vs. RYLD - Expense Ratio Comparison

CSB has a 0.35% expense ratio, which is lower than RYLD's 0.60% expense ratio.

Dividends

CSB vs. RYLD - Dividend Comparison

CSB's dividend yield for the trailing twelve months is around 3.22%, less than RYLD's 11.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CSB VictoryShares US Small Cap High Dividend Volatility Wtd ETF	3.22%	3.54%	3.12%	3.45%	3.60%	3.11%	3.70%	3.19%	3.45%	3.19%	2.85%	1.57%
RYLD Global X Russell 2000 Covered Call ETF	11.73%	12.00%	12.03%	12.64%	13.49%	12.35%	10.76%	6.43%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CSB and RYLD in my portfolio?

CSB and RYLD have a correlation of 0.60, 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 RYLD?

CSB has higher volatility (3.79%) compared to RYLD (2.00%). In terms of maximum drawdown, CSB dropped -42.07% vs RYLD's -41.53%.

Which ETF is better, CSB or RYLD?

On 5-year performance, CSB leads with 4.69% vs 2.45% for RYLD. On fees, CSB is cheaper at 0.35% per year. On volatility, RYLD has been the lower-risk option at 2.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CSB or RYLD?

Over the 5-year period, CSB has performed better with a 4.69% return vs 2.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CSB or RYLD?

CSB is cheaper with a 0.35% expense ratio, compared with 0.60% for RYLD.

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

RYLD has the higher dividend yield at 11.73%, compared with 3.22% for CSB.

What is the main difference between CSB and RYLD?

CSB is categorized as Small Cap Blend Equities, while RYLD is Derivative Income. CSB tracks Nasdaq Victory U.S. Small Cap High Dividend 100 Volatility Weighted Index, while RYLD tracks CBOE Russell 2000 BuyWrite Index. They also come from different issuers: Crestview and Global X. Their fees differ too: 0.35% for CSB and 0.60% for RYLD.

Which has better risk-adjusted returns?

RYLD currently has the higher Sharpe Ratio (1.96 vs 1.45), 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.