CSD vs. IYM

Last updated Jun 23, 2026

CSD (Invesco S&P Spin-Off ETF) and IYM (iShares U.S. Basic Materials ETF) are both exchange-traded funds - CSD is a Mid Cap Blend Equities fund tracking the S&P U.S. Spin-Off Index, while IYM is a Materials fund tracking the Dow Jones U.S. Basic Materials Index. Both are passively managed. Over the past 10 years, CSD returned 15.26%/yr vs 11.29%/yr for IYM. A 0.73 correlation means they provide meaningful diversification when combined. CSD charges 0.65%/yr vs 0.42%/yr for IYM.

Performance

CSD vs. IYM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P Spin-Off ETF (CSD) and iShares U.S. Basic Materials ETF (IYM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CSD achieves a 47.93% return, which is significantly higher than IYM's 20.88% return. Over the past 10 years, CSD has outperformed IYM with an annualized return of 15.26%, while IYM has yielded a comparatively lower 11.29% 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%

IYM

• 1D: -0.12%
• 1M: 2.18%
• YTD: 20.88%
• 6M: 19.00%
• 1Y: 37.99%
• 3Y*: 14.87%
• 5Y*: 9.23%
• 10Y*: 11.29%

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

CSD vs. IYM - 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%
IYM iShares U.S. Basic Materials ETF	20.88%	20.41%	-4.54%	12.83%	-9.15%	25.62%	17.87%	19.22%	-16.63%	24.83%

Correlation

The correlation between CSD and IYM is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Dec 15, 2006	0.73

The correlation between CSD and IYM has been stable across timeframes, ranging from 0.67 to 0.77 - a consistent structural relationship.

CSD vs. IYM - Sectors Allocation Comparison

Sectors	CSD	IYM
Industrials	31.7%	12.5%
Technology	19.2%	-
Healthcare	13.1%	-
Basic Materials	10.6%	83.8%
Communication Services	8.5%	-
Utilities	5.9%	-
Consumer Cyclical	5.8%	3.4%
Real Estate	5.2%	-
Financial Services	0.1%	-
Consumer Defensive	-	-
Energy	-	-

Return for Risk

CSD vs. IYM — Risk / Return Rank

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

CSD

CSD Risk / Return Rank: 93
CSD Sharpe Ratio Rank: 94
CSD Sortino Ratio Rank: 91
CSD Omega Ratio Rank: 89
CSD Calmar Ratio Rank: 95
CSD Martin Ratio Rank: 95

IYM

IYM Risk / Return Rank: 58
IYM Sharpe Ratio Rank: 60
IYM Sortino Ratio Rank: 56
IYM Omega Ratio Rank: 54
IYM Calmar Ratio Rank: 59
IYM Martin Ratio Rank: 60

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. IYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P Spin-Off ETF (CSD) and iShares U.S. Basic Materials ETF (IYM). 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	IYM	Difference
Sharpe ratio: Return per unit of total volatility	3.39	1.95	+1.44
Sortino ratio: Return per unit of downside risk	4.14	2.60	+1.53
Omega ratio: Gain probability vs. loss probability	1.53	1.33	+0.21
Calmar ratio: Return relative to maximum drawdown	7.36	2.80	+4.55
Martin ratio: Return relative to average drawdown	28.78	10.54	+18.24

CSD vs. IYM - Sharpe Ratio Comparison

The current CSD Sharpe Ratio is 3.39, which is higher than the IYM Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of CSD and IYM, 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. IYM - Drawdown Comparison

The maximum CSD drawdown since its inception was -70.47%, roughly equal to the maximum IYM drawdown of -67.78%. Use the drawdown chart below to compare losses from any high point for CSD and IYM.

Drawdown Indicators

	CSD	IYM	Difference
Max Drawdown Largest peak-to-trough decline	-70.47%	-67.78%	-2.69%
Max Drawdown (1Y) Largest decline over 1 year	-11.34%	-13.61%	+2.27%
Max Drawdown (3Y) Largest decline over 3 years	-30.15%	-23.62%	-6.53%
Max Drawdown (5Y) Largest decline over 5 years	-30.15%	-29.94%	-0.21%
Max Drawdown (10Y) Largest decline over 10 years	-57.55%	-42.76%	-14.79%
Current Drawdown Current decline from peak	0.00%	-2.07%	+2.07%
Average Drawdown Average peak-to-trough decline	-14.20%	-11.44%	-2.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.89%	3.61%	-0.72%

Volatility

CSD vs. IYM - Volatility Comparison

Invesco S&P Spin-Off ETF (CSD) and iShares U.S. Basic Materials ETF (IYM) have volatilities of 7.09% and 7.05%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CSD	IYM	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.09%	7.05%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	18.54%	15.71%	+2.83%
Volatility (1Y) Calculated over the trailing 1-year period	24.62%	19.58%	+5.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.40%	20.48%	+2.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.92%	21.78%	+3.14%

CSD vs. IYM - Expense Ratio Comparison

CSD has a 0.65% expense ratio, which is higher than IYM's 0.42% expense ratio.

Dividends

CSD vs. IYM - Dividend Comparison

CSD's dividend yield for the trailing twelve months is around 0.11%, less than IYM's 1.26% 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%
IYM iShares U.S. Basic Materials ETF	1.26%	1.51%	1.65%	1.77%	2.14%	1.48%	1.39%	2.08%	1.68%	1.43%	1.47%	2.04%

Frequently Asked Questions

Can I hold both CSD and IYM in my portfolio?

CSD and IYM have a correlation of 0.67, 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 IYM?

CSD has higher volatility (7.09%) compared to IYM (7.05%). In terms of maximum drawdown, CSD dropped -70.47% vs IYM's -67.78%.

Which ETF is better, CSD or IYM?

On 10-year performance, CSD leads with 15.26% vs 11.29% for IYM. On fees, IYM is cheaper at 0.42% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CSD or IYM?

Over the 10-year period, CSD has performed better with a 15.26% return vs 11.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CSD or IYM?

IYM is cheaper with a 0.42% expense ratio, compared with 0.65% for CSD.

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

IYM has the higher dividend yield at 1.26%, compared with 0.11% for CSD.

What is the main difference between CSD and IYM?

CSD is categorized as Mid Cap Blend Equities, while IYM is Materials. CSD tracks S&P U.S. Spin-Off Index, while IYM tracks Dow Jones U.S. Basic Materials Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.65% for CSD and 0.42% for IYM.

Which has better risk-adjusted returns?

CSD currently has the higher Sharpe Ratio (3.39 vs 1.95), 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.