CSB vs. VBR

Last updated Aug 2, 2026

CSB (VictoryShares US Small Cap High Dividend Volatility Wtd ETF) and VBR (Vanguard Small-Cap Value 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 VBR is a Small Cap Value Equities fund tracking the CRSP US Small Cap Value Index. Both are passively managed. Over the past 10 years, CSB returned 10.15%/yr vs 10.75%/yr for VBR. Their correlation of 0.88 means they have usually moved in the same direction. CSB charges 0.35%/yr vs 0.05%/yr for VBR.

Performance

CSB vs. VBR - 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 Vanguard Small-Cap Value ETF (VBR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CSB achieves a 15.23% return, which is significantly lower than VBR's 16.70% return. Over the past 10 years, CSB has underperformed VBR with an annualized return of 10.15%, while VBR has yielded a comparatively higher 10.75% annualized return.

CSB

• 1D: -0.53%
• 1M: 1.25%
• 6M: 8.88%
• YTD: 15.23%
• 1Y: 24.42%
• 3Y*: 11.11%
• 5Y*: 6.13%
• 10Y*: 10.15%
• ALL TIME*: 9.76%

VBR

• 1D: -0.20%
• 1M: 0.58%
• 6M: 10.78%
• YTD: 16.70%
• 1Y: 27.67%
• 3Y*: 14.39%
• 5Y*: 9.74%
• 10Y*: 10.75%
• ALL TIME*: 9.66%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CSB VictoryShares US Small Cap High Dividend Volatility Wtd ETF	$947.81K	$1.11M	$636.51K
VBR Vanguard Small-Cap Value ETF	$56.96M	$55.85M	$67.93M

CSB vs. VBR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CSB VictoryShares US Small Cap High Dividend Volatility Wtd ETF	15.23%	2.26%	9.64%	12.60%	-13.11%	27.04%	11.30%	21.12%	-7.10%	11.32%
VBR Vanguard Small-Cap Value ETF	16.70%	9.09%	12.40%	16.00%	-9.38%	28.08%	5.90%	22.78%	-12.28%	11.81%

Correlation

The correlation between CSB and VBR is 0.86, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.86
Correlation (3Y) Balances recent behavior with more history.	0.92
Correlation (5Y) Shows whether the relationship held over a longer period.	0.92
Correlation (10Y) Provides a long-term view across more market conditions.	0.91
Correlation (All Time) Calculated using the full available price history since Jul 8, 2015	0.88

The correlation between CSB and VBR has been stable across timeframes, ranging from 0.86 to 0.92 - a consistent structural relationship.

CSB vs. VBR - Sectors Allocation Comparison

Sectors	CSB	VBR
Financial Services	27.5%	17.5%
Utilities	21.3%	4.9%
Consumer Cyclical	20.0%	13.6%
Energy	9.9%	4.3%
Industrials	8.5%	17.3%
Consumer Defensive	4.0%	4.2%
Communication Services	3.8%	2.4%
Basic Materials	3.7%	5.3%
Technology	1.3%	10.9%
Healthcare	0.4%	8.4%
Real Estate	-	11.1%

Return for Risk

CSB vs. VBR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CSB

CSB Risk / Return Rank: 75
CSB Sharpe Ratio Rank: 72
CSB Sortino Ratio Rank: 77
CSB Omega Ratio Rank: 69
CSB Calmar Ratio Rank: 84
CSB Martin Ratio Rank: 75

VBR

VBR Risk / Return Rank: 79
VBR Sharpe Ratio Rank: 77
VBR Sortino Ratio Rank: 80
VBR Omega Ratio Rank: 75
VBR Calmar Ratio Rank: 81
VBR Martin Ratio Rank: 82

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CSB vs. VBR - 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 Vanguard Small-Cap Value ETF (VBR). 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	VBR	Difference
Sharpe ratio: Return per unit of total volatility	1.63	1.75	-0.11
Sortino ratio: Return per unit of downside risk	2.48	2.58	-0.10
Omega ratio: Gain probability vs. loss probability	1.29	1.31	-0.02
Calmar ratio: Return relative to maximum drawdown	3.16	2.93	+0.23
Martin ratio: Return relative to average drawdown	9.49	10.70	-1.21

CSB vs. VBR - Sharpe Ratio Comparison

The current CSB Sharpe Ratio is 1.63, which is comparable to the VBR Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of CSB and VBR, 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. VBR - Drawdown Comparison

The maximum CSB drawdown since its inception was -42.07%, smaller than the maximum VBR drawdown of -61.98%. Use the drawdown chart below to compare losses from any high point for CSB and VBR.

Drawdown Indicators

	CSB	VBR	Difference
Max Drawdown Largest peak-to-trough decline	-42.07%	-61.98%	+19.91%
Max Drawdown (1Y) Largest decline over 1 year	-7.18%	-8.85%	+1.67%
Max Drawdown (3Y) Largest decline over 3 years	-21.82%	-24.19%	+2.37%
Max Drawdown (5Y) Largest decline over 5 years	-24.49%	-24.19%	-0.30%
Max Drawdown (10Y) Largest decline over 10 years	-42.07%	-45.28%	+3.21%
Current Drawdown Current decline from peak	-1.96%	-1.40%	-0.56%
Average Drawdown Average peak-to-trough decline	-7.05%	-8.21%	+1.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.39%	2.42%	-0.03%

Volatility

CSB vs. VBR - Volatility Comparison

VictoryShares US Small Cap High Dividend Volatility Wtd ETF (CSB) has a higher volatility of 3.59% compared to Vanguard Small-Cap Value ETF (VBR) at 3.36%. This indicates that CSB's price experiences larger fluctuations and is considered to be riskier than VBR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CSB	VBR	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.59%	3.36%	+0.23%
Volatility (6M) Calculated over the trailing 6-month period	8.87%	10.22%	-1.35%
Volatility (1Y) Calculated over the trailing 1-year period	13.91%	14.90%	-0.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.59%	19.56%	-0.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.25%	21.66%	-0.41%

CSB vs. VBR - Expense Ratio Comparison

CSB has a 0.35% expense ratio, which is higher than VBR's 0.05% expense ratio.

Dividends

CSB vs. VBR - Dividend Comparison

CSB's dividend yield for the trailing twelve months is around 3.12%, more than VBR's 1.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CSB VictoryShares US Small Cap High Dividend Volatility Wtd ETF	3.12%	3.54%	3.12%	3.45%	3.60%	3.11%	3.70%	3.19%	3.45%	3.19%	2.85%	1.57%
VBR Vanguard Small-Cap Value ETF	1.77%	1.95%	1.98%	2.12%	2.03%	1.75%	1.68%	2.06%	2.35%	1.79%	1.77%	1.99%

Frequently Asked Questions

Can I hold both CSB and VBR in my portfolio?

CSB and VBR have a correlation of 0.86, 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 VBR?

CSB has higher volatility (3.59%) compared to VBR (3.36%). In terms of maximum drawdown, CSB dropped -42.07% vs VBR's -61.98%.

Which ETF is better, CSB or VBR?

On 10-year performance, VBR leads with 10.75% vs 10.15% for CSB. On fees, VBR is cheaper at 0.05% per year. On volatility, VBR has been the lower-risk option at 3.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CSB or VBR?

Over the 10-year period, VBR has performed better with a 10.75% return vs 10.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CSB or VBR?

VBR is cheaper with a 0.05% expense ratio, compared with 0.35% for CSB.

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

CSB has the higher dividend yield at 3.12%, compared with 1.77% for VBR.

What is the main difference between CSB and VBR?

CSB is categorized as Small Cap Blend Equities, while VBR is Small Cap Value Equities. CSB tracks Nasdaq Victory U.S. Small Cap High Dividend 100 Volatility Weighted Index, while VBR tracks CRSP US Small Cap Value Index. They also come from different issuers: Crestview and Vanguard. Their fees differ too: 0.35% for CSB and 0.05% for VBR.

Which has better risk-adjusted returns?

VBR currently has the higher Sharpe Ratio (1.75 vs 1.63), 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.