CSD vs. FAAR
CSD (Invesco S&P Spin-Off ETF) and FAAR (First Trust Alternative Absolute Return Strategy ETF) are both exchange-traded funds - CSD is a Mid Cap Blend Equities fund tracking the S&P U.S. Spin-Off Index, while FAAR is a Commodities fund actively managed by First Trust. CSD is passively managed, while FAAR is actively managed. Over the past 10 years, CSD returned 15.26%/yr vs 4.79%/yr for FAAR. At a 0.09 correlation, their price movements are largely independent. CSD charges 0.65%/yr vs 0.95%/yr for FAAR.
Performance
CSD vs. FAAR - Performance Comparison
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Returns By Period
In the year-to-date period, CSD achieves a 47.93% return, which is significantly higher than FAAR's 20.23% return. Over the past 10 years, CSD has outperformed FAAR with an annualized return of 15.26%, while FAAR has yielded a comparatively lower 4.79% annualized return.
CSD
- 1D
- 0.87%
- 1M
- 8.78%
- YTD
- 47.93%
- 6M
- 45.35%
- 1Y
- 82.98%
- 3Y*
- 39.20%
- 5Y*
- 18.83%
- 10Y*
- 15.26%
FAAR
- 1D
- -0.05%
- 1M
- -4.34%
- YTD
- 20.23%
- 6M
- 19.92%
- 1Y
- 26.86%
- 3Y*
- 10.91%
- 5Y*
- 7.89%
- 10Y*
- 4.79%
CSD vs. FAAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CSD Invesco S&P Spin-Off ETF | 47.93% | 21.58% | 27.61% | 23.77% | -15.04% | 13.01% | 10.79% | 20.61% | -17.82% | 20.64% |
FAAR First Trust Alternative Absolute Return Strategy ETF | 20.23% | 8.07% | 5.97% | -5.63% | 10.15% | 12.34% | 8.60% | -1.28% | -9.17% | 5.00% |
Correlation
The correlation between CSD and FAAR is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since May 23, 2016 | 0.09 |
The correlation between CSD and FAAR shifts across timeframes, from -0.09 (1 year) to 0.09 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
CSD vs. FAAR — Risk / Return Rank
CSD
FAAR
CSD vs. FAAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P Spin-Off ETF (CSD) and First Trust Alternative Absolute Return Strategy ETF (FAAR). 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.
| CSD | FAAR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.37 | ||
| Sortino ratioReturn per unit of downside risk | +1.24 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.35 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 7.36 | 4.75 | +2.61 |
| Martin ratioReturn relative to average drawdown | 28.78 | 14.70 | +14.08 |
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Drawdowns
CSD vs. FAAR - Drawdown Comparison
The maximum CSD drawdown since its inception was -70.47%, which is greater than FAAR's maximum drawdown of -18.03%. Use the drawdown chart below to compare losses from any high point for CSD and FAAR.
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Drawdown Indicators
| CSD | FAAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.47% | -18.03% | -52.44% |
Max Drawdown (1Y)Largest decline over 1 year | -11.34% | -5.68% | -5.66% |
Max Drawdown (3Y)Largest decline over 3 years | -30.15% | -11.54% | -18.61% |
Max Drawdown (5Y)Largest decline over 5 years | -30.15% | -18.03% | -12.12% |
Max Drawdown (10Y)Largest decline over 10 years | -57.55% | -18.03% | -39.52% |
Current DrawdownCurrent decline from peak | 0.00% | -5.43% | +5.43% |
Average DrawdownAverage peak-to-trough decline | -14.20% | -7.82% | -6.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.89% | 1.89% | +1.00% |
Volatility
CSD vs. FAAR - Volatility Comparison
Invesco S&P Spin-Off ETF (CSD) has a higher volatility of 7.09% compared to First Trust Alternative Absolute Return Strategy ETF (FAAR) at 2.47%. This indicates that CSD's price experiences larger fluctuations and is considered to be riskier than FAAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CSD | FAAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.09% | 2.47% | +4.62% |
Volatility (6M)Calculated over the trailing 6-month period | 18.54% | 9.68% | +8.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.62% | 13.37% | +11.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.40% | 12.95% | +10.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.92% | 11.53% | +13.39% |
CSD vs. FAAR - Expense Ratio Comparison
CSD has a 0.65% expense ratio, which is lower than FAAR's 0.95% expense ratio.
Dividends
CSD vs. FAAR - Dividend Comparison
CSD's dividend yield for the trailing twelve months is around 0.11%, less than FAAR's 9.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CSD Invesco S&P Spin-Off ETF | 0.11% | 0.16% | 0.17% | 0.51% | 0.86% | 0.73% | 0.99% | 1.08% | 0.99% | 0.60% | 1.62% | 2.61% |
FAAR First Trust Alternative Absolute Return Strategy ETF | 9.57% | 11.63% | 3.45% | 3.20% | 5.82% | 6.49% | 3.05% | 1.02% | 0.58% | 2.83% | 0.00% | 0.00% |
Frequently Asked Questions
CSD and FAAR have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CSD has higher volatility (7.09%) compared to FAAR (2.47%). In terms of maximum drawdown, CSD dropped -70.47% vs FAAR's -18.03%.
On 10-year performance, CSD leads with 15.26% vs 4.79% for FAAR. On fees, CSD is cheaper at 0.65% per year. On volatility, FAAR has been the lower-risk option at 2.47%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, CSD has performed better with a 15.26% return vs 4.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CSD is cheaper with a 0.65% expense ratio, compared with 0.95% for FAAR.
FAAR has the higher dividend yield at 9.57%, compared with 0.11% for CSD.
CSD is categorized as Mid Cap Blend Equities, while FAAR is Commodities. They also come from different issuers: Invesco and First Trust. Their fees differ too: 0.65% for CSD and 0.95% for FAAR.
CSD currently has the higher Sharpe Ratio (3.39 vs 2.02), 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.
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