CSB vs. XSVM

Last updated Jun 3, 2026

CSB (VictoryShares US Small Cap High Dividend Volatility Wtd ETF) and XSVM (Invesco S&P SmallCap Value with Momentum 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 XSVM is a Momentum fund tracking the S&P SmallCap 600 High Momentum Value Index. Both are passively managed. Over the past 10 years, CSB returned 9.70%/yr vs 12.89%/yr for XSVM. Their correlation of 0.85 suggests significant overlap in exposure. CSB charges 0.35%/yr vs 0.37%/yr for XSVM.

Performance

CSB vs. XSVM - 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 Invesco S&P SmallCap Value with Momentum ETF (XSVM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CSB achieves a 9.49% return, which is significantly lower than XSVM's 18.61% return. Over the past 10 years, CSB has underperformed XSVM with an annualized return of 9.70%, while XSVM has yielded a comparatively higher 12.89% annualized return.

CSB

• 1D: 0.91%
• 1M: -1.67%
• YTD: 9.49%
• 6M: 10.26%
• 1Y: 21.07%
• 3Y*: 11.89%
• 5Y*: 3.93%
• 10Y*: 9.70%

XSVM

• 1D: 1.64%
• 1M: 1.78%
• YTD: 18.61%
• 6M: 19.79%
• 1Y: 38.47%
• 3Y*: 16.56%
• 5Y*: 6.61%
• 10Y*: 12.89%

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

CSB vs. XSVM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CSB VictoryShares US Small Cap High Dividend Volatility Wtd ETF	9.49%	2.26%	9.64%	12.60%	-13.11%	27.04%	11.30%	21.12%	-7.10%	11.32%
XSVM Invesco S&P SmallCap Value with Momentum ETF	18.61%	7.47%	2.30%	20.20%	-13.63%	56.36%	5.08%	30.01%	-12.33%	3.62%

Correlation

The correlation between CSB and XSVM is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Jul 9, 2015	0.85

The correlation between CSB and XSVM has been stable across timeframes, ranging from 0.85 to 0.92 - a consistent structural relationship.

CSB vs. XSVM - Sectors Allocation Comparison

Sectors	CSB	XSVM
Financial Services	26.5%	38.8%
Utilities	22.0%	1.3%
Consumer Cyclical	19.0%	17.0%
Energy	11.5%	9.9%
Industrials	8.5%	6.7%
Consumer Defensive	4.4%	7.3%
Communication Services	3.6%	2.9%
Basic Materials	3.4%	1.9%
Technology	1.2%	7.8%
Healthcare	0.4%	1.4%
Real Estate	-	5.0%

Return for Risk

CSB vs. XSVM — Risk / Return Rank

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

CSB

CSB Risk / Return Rank: 46
CSB Sharpe Ratio Rank: 41
CSB Sortino Ratio Rank: 44
CSB Omega Ratio Rank: 40
CSB Calmar Ratio Rank: 56
CSB Martin Ratio Rank: 48

XSVM

XSVM Risk / Return Rank: 65
XSVM Sharpe Ratio Rank: 61
XSVM Sortino Ratio Rank: 64
XSVM Omega Ratio Rank: 60
XSVM Calmar Ratio Rank: 74
XSVM Martin Ratio Rank: 63

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. XSVM - 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 Invesco S&P SmallCap Value with Momentum ETF (XSVM). 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	XSVM	Difference
Sharpe ratio Return per unit of total volatility	1.46	2.09	-0.63
Sortino ratio Return per unit of downside risk	2.22	3.00	-0.78
Omega ratio Gain probability vs. loss probability	1.26	1.37	-0.11
Calmar ratio Return relative to maximum drawdown	2.81	3.76	-0.96
Martin ratio Return relative to average drawdown	8.15	11.61	-3.47
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. XSVM - Sharpe Ratio Comparison

The current CSB Sharpe Ratio is 1.46, which is lower than the XSVM Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of CSB and XSVM, 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	XSVM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.46	2.09	-0.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.21	0.29	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.52	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.37	+0.08

Drawdowns

CSB vs. XSVM - Drawdown Comparison

The maximum CSB drawdown since its inception was -42.07%, smaller than the maximum XSVM drawdown of -62.57%. Use the drawdown chart below to compare losses from any high point for CSB and XSVM.

Drawdown Indicators

	CSB	XSVM	Difference
Max Drawdown Largest peak-to-trough decline	-42.07%	-62.57%	+20.50%
Max Drawdown (1Y) Largest decline over 1 year	-7.18%	-10.08%	+2.90%
Max Drawdown (3Y) Largest decline over 3 years	-21.82%	-26.21%	+4.39%
Max Drawdown (5Y) Largest decline over 5 years	-24.49%	-26.21%	+1.72%
Max Drawdown (10Y) Largest decline over 10 years	-42.07%	-49.02%	+6.95%
Current Drawdown Current decline from peak	-2.05%	0.00%	-2.05%
Average Drawdown Average peak-to-trough decline	-7.14%	-11.57%	+4.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.47%	3.27%	-0.80%

Volatility

CSB vs. XSVM - Volatility Comparison

The current volatility for VictoryShares US Small Cap High Dividend Volatility Wtd ETF (CSB) is 3.62%, while Invesco S&P SmallCap Value with Momentum ETF (XSVM) has a volatility of 5.22%. This indicates that CSB experiences smaller price fluctuations and is considered to be less risky than XSVM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CSB	XSVM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.62%	5.22%	-1.60%
Volatility (6M) Calculated over the trailing 6-month period	9.12%	11.94%	-2.82%
Volatility (1Y) Calculated over the trailing 1-year period	14.52%	18.52%	-4.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.78%	22.71%	-3.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.31%	25.09%	-3.78%

CSB vs. XSVM - Expense Ratio Comparison

CSB has a 0.35% expense ratio, which is lower than XSVM's 0.37% expense ratio.

Dividends

CSB vs. XSVM - Dividend Comparison

CSB's dividend yield for the trailing twelve months is around 3.23%, more than XSVM's 1.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CSB VictoryShares US Small Cap High Dividend Volatility Wtd ETF	3.23%	3.54%	3.12%	3.45%	3.60%	3.11%	3.70%	3.19%	3.45%	3.19%	2.85%	1.57%
XSVM Invesco S&P SmallCap Value with Momentum ETF	1.79%	2.29%	1.69%	1.31%	1.79%	1.23%	1.21%	1.22%	2.54%	1.90%	2.29%	2.68%

Frequently Asked Questions

Can I hold both CSB and XSVM in my portfolio?

CSB and XSVM have a correlation of 0.90, 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 XSVM?

XSVM has higher volatility (5.22%) compared to CSB (3.62%). In terms of maximum drawdown, CSB dropped -42.07% vs XSVM's -62.57%.

Which ETF is better, CSB or XSVM?

On 10-year performance, XSVM leads with 12.89% vs 9.70% for CSB. On fees, CSB is cheaper at 0.35% per year. On volatility, CSB has been the lower-risk option at 3.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CSB or XSVM?

Over the 10-year period, XSVM has performed better with a 12.89% return vs 9.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CSB or XSVM?

CSB is cheaper with a 0.35% expense ratio, compared with 0.37% for XSVM.

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

CSB has the higher dividend yield at 3.23%, compared with 1.79% for XSVM.

What is the main difference between CSB and XSVM?

CSB is categorized as Small Cap Blend Equities, while XSVM is Momentum. CSB tracks Nasdaq Victory U.S. Small Cap High Dividend 100 Volatility Weighted Index, while XSVM tracks S&P SmallCap 600 High Momentum Value Index. They also come from different issuers: Crestview and Invesco. Their fees differ too: 0.35% for CSB and 0.37% for XSVM.

Which has better risk-adjusted returns?

XSVM currently has the higher Sharpe Ratio (2.09 vs 1.46), 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.