CSD vs. GRNJ

Last updated Jun 4, 2026

CSD (Invesco S&P Spin-Off ETF) and GRNJ (Fundstrat Granny Shots US Small- & Mid-Cap ETF) are both Mid Cap Blend Equities funds. CSD is passively managed, while GRNJ is actively managed. A 0.79 correlation means they provide meaningful diversification when combined. CSD charges 0.65%/yr vs 0.75%/yr for GRNJ.

Performance

CSD vs. GRNJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P Spin-Off ETF (CSD) and Fundstrat Granny Shots US Small- & Mid-Cap ETF (GRNJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CSD achieves a 39.67% return, which is significantly higher than GRNJ's 26.11% return.

CSD

• 1D: 0.47%
• 1M: 8.22%
• YTD: 39.67%
• 6M: 39.98%
• 1Y: 71.88%
• 3Y*: 36.42%
• 5Y*: 16.45%
• 10Y*: 14.07%

GRNJ

• 1D: -1.17%
• 1M: 8.92%
• YTD: 26.11%
• 6M: 25.03%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CSD vs. GRNJ - Yearly Performance Comparison

	2026 (YTD)	2025
CSD Invesco S&P Spin-Off ETF	39.67%	7.32%
GRNJ Fundstrat Granny Shots US Small- & Mid-Cap ETF	26.11%	5.14%

Correlation

The correlation between CSD and GRNJ is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 19, 2025	0.79

Return for Risk

CSD vs. GRNJ — Risk / Return Rank

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

CSD

CSD Risk / Return Rank: 88
CSD Sharpe Ratio Rank: 89
CSD Sortino Ratio Rank: 84
CSD Omega Ratio Rank: 81
CSD Calmar Ratio Rank: 92
CSD Martin Ratio Rank: 93

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. GRNJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P Spin-Off ETF (CSD) and Fundstrat Granny Shots US Small- & Mid-Cap ETF (GRNJ). 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.

	CSD	GRNJ	Difference
Sharpe ratio: Return per unit of total volatility	3.03	—	—
Sortino ratio: Return per unit of downside risk	3.80	—	—
Omega ratio: Gain probability vs. loss probability	1.49	—	—
Calmar ratio: Return relative to maximum drawdown	6.37	—	—
Martin ratio: Return relative to average drawdown	24.98	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	CSD	GRNJ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.03	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	2.35	-1.91

Drawdowns

CSD vs. GRNJ - Drawdown Comparison

The maximum CSD drawdown since its inception was -70.47%, which is greater than GRNJ's maximum drawdown of -17.32%. Use the drawdown chart below to compare losses from any high point for CSD and GRNJ.

Drawdown Indicators

	CSD	GRNJ	Difference
Max Drawdown Largest peak-to-trough decline	-70.47%	-17.32%	-53.15%
Max Drawdown (1Y) Largest decline over 1 year	-11.34%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-30.15%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-30.15%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-57.55%	—	—
Current Drawdown Current decline from peak	0.00%	-1.17%	+1.17%
Average Drawdown Average peak-to-trough decline	-14.23%	-4.13%	-10.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.89%	—	—

Volatility

Volatility by Period

	CSD	GRNJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.19%	—	—
Volatility (6M) Calculated over the trailing 6-month period	18.29%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	23.87%	29.93%	-6.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.26%	29.93%	-6.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.83%	29.93%	-5.10%

CSD vs. GRNJ - Expense Ratio Comparison

CSD has a 0.65% expense ratio, which is lower than GRNJ's 0.75% expense ratio.

Dividends

CSD vs. GRNJ - Dividend Comparison

CSD's dividend yield for the trailing twelve months is around 0.11%, while GRNJ has not paid dividends to shareholders.

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%
GRNJ Fundstrat Granny Shots US Small- & Mid-Cap ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CSD and GRNJ in my portfolio?

CSD and GRNJ have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CSD or GRNJ?

On fees, CSD is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CSD or GRNJ?

CSD is cheaper with a 0.65% expense ratio, compared with 0.75% for GRNJ.

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

CSD has the higher dividend yield at 0.11%, compared with 0.00% for GRNJ.

What is the main difference between CSD and GRNJ?

They also come from different issuers: Invesco and Fundstrat. Their fees differ too: 0.65% for CSD and 0.75% for GRNJ.