CSD vs. FUTY

Last updated Jul 12, 2026

CSD (Invesco S&P Spin-Off ETF) and FUTY (Fidelity MSCI Utilities Index ETF) are both exchange-traded funds - CSD is a Mid Cap Blend Equities fund tracking the S&P U.S. Spin-Off Index, while FUTY is a Utilities Equities fund tracking the MSCI USA IMI Utilities Index. Both are passively managed. Over the past 10 years, CSD returned 13.81%/yr vs 9.03%/yr for FUTY. At a 0.34 correlation, their price movements are largely independent. CSD charges 0.65%/yr vs 0.08%/yr for FUTY.

Performance

CSD vs. FUTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P Spin-Off ETF (CSD) and Fidelity MSCI Utilities Index ETF (FUTY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CSD achieves a 40.12% return, which is significantly higher than FUTY's 7.43% return. Over the past 10 years, CSD has outperformed FUTY with an annualized return of 13.81%, while FUTY has yielded a comparatively lower 9.03% annualized return.

CSD

• 1D: 0.18%
• 1M: -2.20%
• 6M: 28.03%
• YTD: 40.12%
• 1Y: 65.26%
• 3Y*: 34.29%
• 5Y*: 17.37%
• 10Y*: 13.81%

FUTY

• 1D: 0.60%
• 1M: 2.44%
• 6M: 7.57%
• YTD: 7.43%
• 1Y: 13.16%
• 3Y*: 14.58%
• 5Y*: 10.08%
• 10Y*: 9.03%

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

CSD vs. FUTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CSD Invesco S&P Spin-Off ETF	40.12%	21.58%	27.61%	23.77%	-15.04%	13.01%	10.79%	20.61%	-17.82%	20.64%
FUTY Fidelity MSCI Utilities Index ETF	7.43%	16.40%	23.20%	-7.46%	1.12%	17.53%	-0.80%	24.89%	4.36%	12.52%

Correlation

The correlation between CSD and FUTY is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (10Y) Calculated over the trailing 10-year period	0.34
Correlation (All Time) Calculated using the full available price history since Oct 24, 2013	0.34

The correlation between CSD and FUTY shifts across timeframes, from 0.26 (1 year) to 0.41 (5 years), reflecting how their relationship changes across market environments.

CSD vs. FUTY - Sectors Allocation Comparison

Sectors	CSD	FUTY
Industrials	30.7%	0.2%
Technology	18.2%	-
Healthcare	12.2%	-
Utilities	9.2%	99.3%
Basic Materials	8.8%	-
Communication Services	3.5%	-
Consumer Cyclical	3.0%	-
Real Estate	2.4%	-
Financial Services	0.1%	-
Consumer Defensive	-	-
Energy	-	0.5%

Return for Risk

CSD vs. FUTY — Risk / Return Rank

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

CSD

CSD Risk / Return Rank: 90
CSD Sharpe Ratio Rank: 91
CSD Sortino Ratio Rank: 88
CSD Omega Ratio Rank: 84
CSD Calmar Ratio Rank: 94
CSD Martin Ratio Rank: 94

FUTY

FUTY Risk / Return Rank: 30
FUTY Sharpe Ratio Rank: 30
FUTY Sortino Ratio Rank: 28
FUTY Omega Ratio Rank: 27
FUTY Calmar Ratio Rank: 36
FUTY Martin Ratio Rank: 28

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.

CSD vs. FUTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P Spin-Off ETF (CSD) and Fidelity MSCI Utilities Index ETF (FUTY). 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	FUTY	Difference
Sharpe ratio: Return per unit of total volatility	2.49	0.89	+1.60
Sortino ratio: Return per unit of downside risk	3.20	1.28	+1.92
Omega ratio: Gain probability vs. loss probability	1.40	1.16	+0.24
Calmar ratio: Return relative to maximum drawdown	5.64	1.46	+4.18
Martin ratio: Return relative to average drawdown	20.63	3.07	+17.56

CSD vs. FUTY - Sharpe Ratio Comparison

The current CSD Sharpe Ratio is 2.49, which is higher than the FUTY Sharpe Ratio of 0.89. The chart below compares the historical Sharpe Ratios of CSD and FUTY, 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. FUTY - Drawdown Comparison

The maximum CSD drawdown since its inception was -70.47%, which is greater than FUTY's maximum drawdown of -36.44%. Use the drawdown chart below to compare losses from any high point for CSD and FUTY.

Drawdown Indicators

	CSD	FUTY	Difference
Max Drawdown Largest peak-to-trough decline	-70.47%	-36.44%	-34.03%
Max Drawdown (1Y) Largest decline over 1 year	-11.34%	-8.93%	-2.41%
Max Drawdown (3Y) Largest decline over 3 years	-30.15%	-17.35%	-12.80%
Max Drawdown (5Y) Largest decline over 5 years	-30.15%	-25.11%	-5.04%
Max Drawdown (10Y) Largest decline over 10 years	-57.55%	-36.44%	-21.11%
Current Drawdown Current decline from peak	-6.68%	-3.45%	-3.23%
Average Drawdown Average peak-to-trough decline	-14.17%	-6.02%	-8.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.10%	4.24%	-1.14%

Volatility

CSD vs. FUTY - Volatility Comparison

Invesco S&P Spin-Off ETF (CSD) has a higher volatility of 10.19% compared to Fidelity MSCI Utilities Index ETF (FUTY) at 4.28%. This indicates that CSD's price experiences larger fluctuations and is considered to be riskier than FUTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CSD	FUTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.19%	4.28%	+5.91%
Volatility (6M) Calculated over the trailing 6-month period	19.60%	11.66%	+7.94%
Volatility (1Y) Calculated over the trailing 1-year period	25.68%	14.66%	+11.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.61%	17.09%	+6.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.95%	19.07%	+5.88%

CSD vs. FUTY - Expense Ratio Comparison

CSD has a 0.65% expense ratio, which is higher than FUTY's 0.08% expense ratio.

Dividends

CSD vs. FUTY - Dividend Comparison

CSD's dividend yield for the trailing twelve months is around 0.11%, less than FUTY's 2.58% 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%
FUTY Fidelity MSCI Utilities Index ETF	2.58%	2.67%	2.96%	3.31%	2.72%	2.70%	3.07%	2.82%	3.11%	3.03%	3.35%	4.33%

Frequently Asked Questions

Can I hold both CSD and FUTY in my portfolio?

CSD and FUTY have a correlation of 0.26, 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 FUTY?

CSD has higher volatility (10.19%) compared to FUTY (4.28%). In terms of maximum drawdown, CSD dropped -70.47% vs FUTY's -36.44%.

Which ETF is better, CSD or FUTY?

On 10-year performance, CSD leads with 13.81% vs 9.03% for FUTY. On fees, FUTY is cheaper at 0.08% per year. On volatility, FUTY has been the lower-risk option at 4.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CSD or FUTY?

Over the 10-year period, CSD has performed better with a 13.81% return vs 9.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CSD or FUTY?

FUTY is cheaper with a 0.08% expense ratio, compared with 0.65% for CSD.

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

FUTY has the higher dividend yield at 2.58%, compared with 0.11% for CSD.

What is the main difference between CSD and FUTY?

CSD is categorized as Mid Cap Blend Equities, while FUTY is Utilities Equities. CSD tracks S&P U.S. Spin-Off Index, while FUTY tracks MSCI USA IMI Utilities Index. They also come from different issuers: Invesco and Fidelity. Their fees differ too: 0.65% for CSD and 0.08% for FUTY.

Which has better risk-adjusted returns?

CSD currently has the higher Sharpe Ratio (2.49 vs 0.89), 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.