CSB vs. VSMV

Last updated Jun 4, 2026

CSB (VictoryShares US Small Cap High Dividend Volatility Wtd ETF) and VSMV (VictoryShares US Multi-Factor Minimum Volatility 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 VSMV is a Volatility Hedged Equity fund tracking the Nasdaq Victory Multi-Factor Minimum Volatility Index. Both are passively managed. Over the past 5 years, CSB returned 3.65%/yr vs 11.35%/yr for VSMV. A 0.64 correlation means they provide meaningful diversification when combined. Both charge a 0.35% expense ratio.

Performance

CSB vs. VSMV - 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 VictoryShares US Multi-Factor Minimum Volatility ETF (VSMV). 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 lower than VSMV's 9.29% 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%

VSMV

• 1D: 0.33%
• 1M: 2.75%
• YTD: 9.29%
• 6M: 9.79%
• 1Y: 24.46%
• 3Y*: 16.84%
• 5Y*: 11.35%
• 10Y*: —

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

CSB vs. VSMV - 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%	13.34%
VSMV VictoryShares US Multi-Factor Minimum Volatility ETF	9.29%	16.77%	15.79%	12.34%	-7.56%	25.66%	5.05%	26.79%	-1.12%	11.48%

Correlation

The correlation between CSB and VSMV is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (All Time) Calculated using the full available price history since Jun 23, 2017	0.64

The correlation between CSB and VSMV has been stable across timeframes, ranging from 0.64 to 0.69 - a consistent structural relationship.

CSB vs. VSMV - Sectors Allocation Comparison

Sectors	CSB	VSMV
Financial Services	26.5%	8.1%
Utilities	22.0%	0.0%
Consumer Cyclical	19.0%	5.0%
Energy	11.5%	4.4%
Industrials	8.5%	8.5%
Consumer Defensive	4.4%	17.6%
Communication Services	3.6%	5.4%
Basic Materials	3.4%	1.8%
Technology	1.2%	34.4%
Healthcare	0.4%	14.8%
Real Estate	-	0.0%

Return for Risk

CSB vs. VSMV — 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

VSMV

VSMV Risk / Return Rank: 84
VSMV Sharpe Ratio Rank: 82
VSMV Sortino Ratio Rank: 88
VSMV Omega Ratio Rank: 81
VSMV Calmar Ratio Rank: 85
VSMV Martin Ratio Rank: 85

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. VSMV - 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 VictoryShares US Multi-Factor Minimum Volatility ETF (VSMV). 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	VSMV	Difference
Sharpe ratio: Return per unit of total volatility	1.25	2.71	-1.46
Sortino ratio: Return per unit of downside risk	1.92	4.03	-2.11
Omega ratio: Gain probability vs. loss probability	1.22	1.49	-0.27
Calmar ratio: Return relative to maximum drawdown	2.51	4.74	-2.23
Martin ratio: Return relative to average drawdown	7.26	18.09	-10.83
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. VSMV - Sharpe Ratio Comparison

The current CSB Sharpe Ratio is 1.25, which is lower than the VSMV Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of CSB and VSMV, 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	VSMV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.25	2.71	-1.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.20	0.89	-0.69
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	0.82	-0.38

Drawdowns

CSB vs. VSMV - Drawdown Comparison

The maximum CSB drawdown since its inception was -42.07%, which is greater than VSMV's maximum drawdown of -31.33%. Use the drawdown chart below to compare losses from any high point for CSB and VSMV.

Drawdown Indicators

	CSB	VSMV	Difference
Max Drawdown Largest peak-to-trough decline	-42.07%	-31.33%	-10.74%
Max Drawdown (1Y) Largest decline over 1 year	-7.18%	-5.18%	-2.00%
Max Drawdown (3Y) Largest decline over 3 years	-21.82%	-13.22%	-8.60%
Max Drawdown (5Y) Largest decline over 5 years	-24.49%	-17.96%	-6.53%
Max Drawdown (10Y) Largest decline over 10 years	-42.07%	—	—
Current Drawdown Current decline from peak	-3.12%	-0.79%	-2.33%
Average Drawdown Average peak-to-trough decline	-7.14%	-3.41%	-3.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.48%	1.36%	+1.12%

Volatility

CSB vs. VSMV - Volatility Comparison

VictoryShares US Small Cap High Dividend Volatility Wtd ETF (CSB) has a higher volatility of 3.59% compared to VictoryShares US Multi-Factor Minimum Volatility ETF (VSMV) at 2.41%. This indicates that CSB's price experiences larger fluctuations and is considered to be riskier than VSMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CSB	VSMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.59%	2.41%	+1.18%
Volatility (6M) Calculated over the trailing 6-month period	9.19%	6.34%	+2.85%
Volatility (1Y) Calculated over the trailing 1-year period	14.54%	9.08%	+5.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.78%	12.86%	+5.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.31%	15.04%	+6.27%

CSB vs. VSMV - Expense Ratio Comparison

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

Dividends

CSB vs. VSMV - Dividend Comparison

CSB's dividend yield for the trailing twelve months is around 3.26%, more than VSMV's 1.31% 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%
VSMV VictoryShares US Multi-Factor Minimum Volatility ETF	1.31%	1.35%	1.36%	1.77%	1.99%	1.36%	2.01%	2.00%	2.42%	1.11%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CSB and VSMV in my portfolio?

CSB and VSMV have a correlation of 0.64, 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 VSMV?

CSB has higher volatility (3.59%) compared to VSMV (2.41%). In terms of maximum drawdown, CSB dropped -42.07% vs VSMV's -31.33%.

Which ETF is better, CSB or VSMV?

On 5-year performance, VSMV leads with 11.35% vs 3.65% for CSB. Both ETFs have the same 0.35% expense ratio. On volatility, VSMV has been the lower-risk option at 2.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CSB or VSMV?

Over the 5-year period, VSMV has performed better with a 11.35% 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 VSMV?

CSB and VSMV have the same expense ratio: 0.35% per year.

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

CSB has the higher dividend yield at 3.26%, compared with 1.31% for VSMV.

What is the main difference between CSB and VSMV?

CSB is categorized as Small Cap Blend Equities, while VSMV is Volatility Hedged Equity. CSB tracks Nasdaq Victory U.S. Small Cap High Dividend 100 Volatility Weighted Index, while VSMV tracks Nasdaq Victory Multi-Factor Minimum Volatility Index.

Which has better risk-adjusted returns?

VSMV currently has the higher Sharpe Ratio (2.71 vs 1.25), 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.