CSB vs. SDY

Last updated Apr 1, 2026

Compare and contrast key facts about VictoryShares US Small Cap High Dividend Volatility Wtd ETF (CSB) and SPDR S&P Dividend ETF (SDY).

CSB and SDY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CSB is a passively managed fund by Crestview that tracks the performance of the Nasdaq Victory U.S. Small Cap High Dividend 100 Volatility Weighted Index. It was launched on Jul 8, 2015. SDY is a passively managed fund by State Street that tracks the performance of the S&P High Yield Dividend Aristocrats Index. It was launched on Nov 15, 2005. Both CSB and SDY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

CSB vs. SDY - 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 SPDR S&P Dividend ETF (SDY). The values are adjusted to include any dividend payments, if applicable.

CSB vs. SDY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CSB VictoryShares US Small Cap High Dividend Volatility Wtd ETF	6.03%	2.26%	9.64%	12.60%	-13.11%	27.04%	11.30%	21.12%	-7.10%	11.32%
SDY SPDR S&P Dividend ETF	5.51%	8.18%	8.45%	2.61%	-0.54%	25.32%	1.71%	23.29%	-2.74%	15.82%

Returns By Period

In the year-to-date period, CSB achieves a 6.03% return, which is significantly higher than SDY's 5.51% return. Both investments have delivered pretty close results over the past 10 years, with CSB having a 9.66% annualized return and SDY not far behind at 9.37%.

CSB

• 1D: 1.09%
• 1M: -1.77%
• YTD: 6.03%
• 6M: 6.43%
• 1Y: 11.49%
• 3Y*: 9.80%
• 5Y*: 4.36%
• 10Y*: 9.66%

SDY

• 1D: 1.00%
• 1M: -5.83%
• YTD: 5.51%
• 6M: 5.61%
• 1Y: 10.46%
• 3Y*: 8.49%
• 5Y*: 7.00%
• 10Y*: 9.37%

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

CSB vs. SDY - Expense Ratio Comparison

Both CSB and SDY have an expense ratio of 0.35%.

CSB

VictoryShares US Small Cap High Dividend Volatility Wtd ETF

SDY

SPDR S&P Dividend ETF

Return for Risk

CSB vs. SDY — Risk / Return Rank

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

CSB

CSB Risk / Return Rank: 34
CSB Sharpe Ratio Rank: 33
CSB Sortino Ratio Rank: 35
CSB Omega Ratio Rank: 33
CSB Calmar Ratio Rank: 34
CSB Martin Ratio Rank: 33

SDY

SDY Risk / Return Rank: 45
SDY Sharpe Ratio Rank: 44
SDY Sortino Ratio Rank: 45
SDY Omega Ratio Rank: 41
SDY Calmar Ratio Rank: 47
SDY Martin Ratio Rank: 48

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. SDY - 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 SPDR S&P Dividend ETF (SDY). 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	SDY	Difference
Sharpe ratio Return per unit of total volatility	0.60	0.76	-0.15
Sortino ratio Return per unit of downside risk	0.97	1.17	-0.20
Omega ratio Gain probability vs. loss probability	1.13	1.15	-0.02
Calmar ratio Return relative to maximum drawdown	0.84	1.09	-0.25
Martin ratio Return relative to average drawdown	2.95	4.29	-1.34
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. SDY - Sharpe Ratio Comparison

The current CSB Sharpe Ratio is 0.60, which is comparable to the SDY Sharpe Ratio of 0.76. The chart below compares the historical Sharpe Ratios of CSB and SDY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CSB	SDY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.60	0.76	-0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	0.50	-0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.55	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.47	-0.03

Correlation

The correlation between CSB and SDY is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

CSB vs. SDY - Dividend Comparison

CSB's dividend yield for the trailing twelve months is around 3.40%, more than SDY's 2.53% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CSB VictoryShares US Small Cap High Dividend Volatility Wtd ETF	3.40%	3.54%	3.12%	3.45%	3.60%	3.11%	3.70%	3.19%	3.45%	3.19%	2.85%	1.57%
SDY SPDR S&P Dividend ETF	2.53%	2.61%	2.56%	2.64%	2.55%	2.63%	2.85%	2.45%	2.73%	4.69%	3.30%	6.20%

Drawdowns

CSB vs. SDY - Drawdown Comparison

The maximum CSB drawdown since its inception was -42.07%, smaller than the maximum SDY drawdown of -54.75%. Use the drawdown chart below to compare losses from any high point for CSB and SDY.

Drawdown Indicators

	CSB	SDY	Difference
Max Drawdown Largest peak-to-trough decline	-42.07%	-54.75%	+12.68%
Max Drawdown (1Y) Largest decline over 1 year	-14.18%	-10.66%	-3.52%
Max Drawdown (5Y) Largest decline over 5 years	-24.49%	-15.21%	-9.28%
Max Drawdown (10Y) Largest decline over 10 years	-42.07%	-36.70%	-5.37%
Current Drawdown Current decline from peak	-3.71%	-5.83%	+2.12%
Average Drawdown Average peak-to-trough decline	-7.23%	-6.22%	-1.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.02%	2.70%	+1.32%

Volatility

CSB vs. SDY - Volatility Comparison

VictoryShares US Small Cap High Dividend Volatility Wtd ETF (CSB) has a higher volatility of 3.83% compared to SPDR S&P Dividend ETF (SDY) at 3.17%. This indicates that CSB's price experiences larger fluctuations and is considered to be riskier than SDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CSB	SDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.83%	3.17%	+0.66%
Volatility (6M) Calculated over the trailing 6-month period	10.03%	7.35%	+2.68%
Volatility (1Y) Calculated over the trailing 1-year period	19.08%	13.91%	+5.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.90%	14.06%	+4.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.32%	17.08%	+4.24%