CSD vs. FTDS

Last updated Aug 2, 2026

CSD (Invesco S&P Spin-Off ETF) and FTDS (First Trust Dividend Strength ETF) are both Mid Cap Blend Equities funds - CSD tracks the S&P U.S. Spin-Off Index while FTDS tracks the Dividend Strength Index. Both are passively managed. Over the past 10 years, CSD returned 13.22%/yr vs 11.18%/yr for FTDS. Their 0.64 correlation means they have sometimes moved together and sometimes differently. CSD charges 0.65%/yr vs 0.70%/yr for FTDS.

Performance

CSD vs. FTDS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P Spin-Off ETF (CSD) and First Trust Dividend Strength ETF (FTDS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CSD achieves a 33.33% return, which is significantly higher than FTDS's 15.08% return. Over the past 10 years, CSD has outperformed FTDS with an annualized return of 13.22%, while FTDS has yielded a comparatively lower 11.18% annualized return.

CSD

• 1D: -0.25%
• 1M: -6.37%
• 6M: 19.91%
• YTD: 33.33%
• 1Y: 54.94%
• 3Y*: 31.10%
• 5Y*: 15.97%
• 10Y*: 13.22%
• ALL TIME*: 9.93%

FTDS

• 1D: 0.31%
• 1M: 4.00%
• 6M: 8.67%
• YTD: 15.08%
• 1Y: 24.87%
• 3Y*: 15.10%
• 5Y*: 8.13%
• 10Y*: 11.18%
• ALL TIME*: 6.70%

*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)
CSD Invesco S&P Spin-Off ETF	$2.08M	$2.19M	$2.22M
FTDS First Trust Dividend Strength ETF	$146.70K	$150.71K	$191.32K

CSD vs. FTDS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CSD Invesco S&P Spin-Off ETF	33.33%	21.58%	27.61%	23.77%	-15.04%	13.01%	10.79%	20.61%	-17.82%	20.64%
FTDS First Trust Dividend Strength ETF	15.08%	13.64%	11.12%	11.75%	-13.54%	24.79%	14.16%	24.29%	-10.35%	20.07%

Correlation

The correlation between CSD and FTDS is 0.39, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.39
Correlation (3Y) Balances recent behavior with more history.	0.60
Correlation (5Y) Shows whether the relationship held over a longer period.	0.71
Correlation (10Y) Provides a long-term view across more market conditions.	0.67
Correlation (All Time) Calculated using the full available price history since Dec 15, 2006	0.64

Over the past year, the correlation between CSD and FTDS has dropped to 0.39 - well below their long-term average of 0.64, suggesting their price drivers have been diverging.

CSD vs. FTDS - Sectors Allocation Comparison

Sectors	CSD	FTDS
Industrials	35.5%	20.6%
Technology	23.5%	8.6%
Healthcare	12.8%	9.6%
Utilities	7.3%	-
Basic Materials	6.8%	8.3%
Communication Services	5.2%	-
Real Estate	3.8%	-
Consumer Cyclical	2.4%	3.3%
Consumer Defensive	1.0%	1.9%
Financial Services	0.1%	30.2%
Energy	-	17.6%

Return for Risk

CSD vs. FTDS — Risk / Return Rank

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

CSD

CSD Risk / Return Rank: 88
CSD Sharpe Ratio Rank: 88
CSD Sortino Ratio Rank: 85
CSD Omega Ratio Rank: 82
CSD Calmar Ratio Rank: 93
CSD Martin Ratio Rank: 90

FTDS

FTDS Risk / Return Rank: 81
FTDS Sharpe Ratio Rank: 81
FTDS Sortino Ratio Rank: 84
FTDS Omega Ratio Rank: 78
FTDS Calmar Ratio Rank: 88
FTDS Martin Ratio Rank: 75

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.

CSD vs. FTDS - 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 Dividend Strength ETF (FTDS). 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	FTDS	Difference
Sharpe ratio: Return per unit of total volatility	2.12	1.86	+0.26
Sortino ratio: Return per unit of downside risk	2.81	2.76	+0.05
Omega ratio: Gain probability vs. loss probability	1.35	1.33	+0.02
Calmar ratio: Return relative to maximum drawdown	4.53	3.61	+0.92
Martin ratio: Return relative to average drawdown	14.08	9.38	+4.70

CSD vs. FTDS - Sharpe Ratio Comparison

The current CSD Sharpe Ratio is 2.12, which is comparable to the FTDS Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of CSD and FTDS, 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

CSD vs. FTDS - Drawdown Comparison

The maximum CSD drawdown since its inception was -70.47%, which is greater than FTDS's maximum drawdown of -56.53%. Use the drawdown chart below to compare losses from any high point for CSD and FTDS.

Drawdown Indicators

	CSD	FTDS	Difference
Max Drawdown Largest peak-to-trough decline	-70.47%	-56.53%	-13.94%
Max Drawdown (1Y) Largest decline over 1 year	-12.02%	-6.57%	-5.45%
Max Drawdown (3Y) Largest decline over 3 years	-30.15%	-18.04%	-12.11%
Max Drawdown (5Y) Largest decline over 5 years	-30.15%	-23.35%	-6.80%
Max Drawdown (10Y) Largest decline over 10 years	-57.55%	-42.47%	-15.08%
Current Drawdown Current decline from peak	-11.21%	-0.74%	-10.47%
Average Drawdown Average peak-to-trough decline	-14.16%	-9.81%	-4.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.86%	2.53%	+1.33%

Volatility

CSD vs. FTDS - Volatility Comparison

Invesco S&P Spin-Off ETF (CSD) has a higher volatility of 5.61% compared to First Trust Dividend Strength ETF (FTDS) at 3.55%. This indicates that CSD's price experiences larger fluctuations and is considered to be riskier than FTDS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CSD	FTDS	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.61%	3.55%	+2.06%
Volatility (6M) Calculated over the trailing 6-month period	19.42%	8.28%	+11.14%
Volatility (1Y) Calculated over the trailing 1-year period	25.67%	12.81%	+12.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.56%	17.52%	+6.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.97%	20.05%	+4.92%

CSD vs. FTDS - Expense Ratio Comparison

CSD has a 0.65% expense ratio, which is lower than FTDS's 0.70% expense ratio.

Dividends

CSD vs. FTDS - Dividend Comparison

CSD's dividend yield for the trailing twelve months is around 0.12%, less than FTDS's 1.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CSD Invesco S&P Spin-Off ETF	0.12%	0.16%	0.17%	0.51%	0.86%	0.73%	0.99%	1.08%	0.99%	0.60%	1.62%	2.61%
FTDS First Trust Dividend Strength ETF	1.53%	1.59%	2.05%	2.15%	2.31%	0.72%	0.99%	1.13%	1.14%	0.79%	1.24%	0.95%

Frequently Asked Questions

Can I hold both CSD and FTDS in my portfolio?

CSD and FTDS have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CSD or FTDS?

CSD has higher volatility (5.61%) compared to FTDS (3.55%). In terms of maximum drawdown, CSD dropped -70.47% vs FTDS's -56.53%.

Which ETF is better, CSD or FTDS?

On 10-year performance, CSD leads with 13.22% vs 11.18% for FTDS. On fees, CSD is cheaper at 0.65% per year. On volatility, FTDS has been the lower-risk option at 3.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CSD or FTDS?

Over the 10-year period, CSD has performed better with a 13.22% return vs 11.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CSD or FTDS?

CSD is cheaper with a 0.65% expense ratio, compared with 0.70% for FTDS.

Which ETF pays a higher dividend yield, CSD or FTDS?

FTDS has the higher dividend yield at 1.53%, compared with 0.12% for CSD.

What is the main difference between CSD and FTDS?

CSD tracks S&P U.S. Spin-Off Index, while FTDS tracks Dividend Strength Index. They also come from different issuers: Invesco and First Trust. Their fees differ too: 0.65% for CSD and 0.70% for FTDS.

Which has better risk-adjusted returns?

CSD currently has the higher Sharpe Ratio (2.12 vs 1.86), 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.