CSD vs. GRNJ

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco S&P Spin-Off ETF (CSD) and Fundstrat Granny Shots US Small- & Mid-Cap ETF (GRNJ).

CSD and GRNJ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CSD is a passively managed fund by Invesco that tracks the performance of the S&P U.S. Spin-Off Index. It was launched on Dec 15, 2006. GRNJ is an actively managed fund by Fundstrat. It was launched on Nov 17, 2025.

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.

CSD vs. GRNJ - Yearly Performance Comparison

	2026 (YTD)	2025
CSD Invesco S&P Spin-Off ETF	12.97%	7.32%
GRNJ Fundstrat Granny Shots US Small- & Mid-Cap ETF	-2.11%	5.14%

Returns By Period

In the year-to-date period, CSD achieves a 12.97% return, which is significantly higher than GRNJ's -2.11% return.

CSD

• 1D: 4.82%
• 1M: -6.74%
• YTD: 12.97%
• 6M: 21.17%
• 1Y: 50.42%
• 3Y*: 26.15%
• 5Y*: 12.70%
• 10Y*: 12.09%

GRNJ

• 1D: 5.00%
• 1M: -7.92%
• YTD: -2.11%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CSD vs. GRNJ - Expense Ratio Comparison

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

GRNJ

Fundstrat Granny Shots US Small- & Mid-Cap ETF

CSD

Invesco S&P Spin-Off ETF

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: 86
CSD Sortino Ratio Rank: 86
CSD Omega Ratio Rank: 85
CSD Calmar Ratio Rank: 90
CSD Martin Ratio Rank: 91

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	1.74	—	—
Sortino ratio Return per unit of downside risk	2.30	—	—
Omega ratio Gain probability vs. loss probability	1.33	—	—
Calmar ratio Return relative to maximum drawdown	2.99	—	—
Martin ratio Return relative to average drawdown	12.37	—	—
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	1.74	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.27	+0.12

Correlation

The correlation between CSD and GRNJ is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

CSD vs. GRNJ - Dividend Comparison

CSD's dividend yield for the trailing twelve months is around 0.14%, while GRNJ has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CSD Invesco S&P Spin-Off ETF	0.14%	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%

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	-17.08%	—	—
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	-7.06%	-13.19%	+6.13%
Average Drawdown Average peak-to-trough decline	-14.35%	-4.81%	-9.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.13%	—	—

Volatility

Volatility by Period

	CSD	GRNJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.52%	—	—
Volatility (6M) Calculated over the trailing 6-month period	19.01%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	29.16%	31.70%	-2.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.04%	31.70%	-8.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.69%	31.70%	-7.01%