CSD vs. ONEQ
Compare and contrast key facts about Invesco S&P Spin-Off ETF (CSD) and Fidelity NASDAQ Composite Index Tracking Stock (ONEQ).
CSD and ONEQ 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 TR. It was launched on Dec 15, 2006. ONEQ is a passively managed fund by Fidelity that tracks the performance of the NASDAQ Composite Index. It was launched on Sep 25, 2003. Both CSD and ONEQ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CSD or ONEQ.
Key characteristics
| CSD | ONEQ | |
|---|---|---|
| YTD Return | 29.43% | 27.76% |
| 1Y Return | 43.05% | 36.18% |
| 3Y Return (Ann) | 9.54% | 7.73% |
| 5Y Return (Ann) | 12.43% | 18.66% |
| 10Y Return (Ann) | 7.55% | 16.32% |
| Sharpe Ratio | 2.26 | 2.11 |
| Sortino Ratio | 3.00 | 2.76 |
| Omega Ratio | 1.38 | 1.38 |
| Calmar Ratio | 3.37 | 2.74 |
| Martin Ratio | 14.66 | 10.42 |
| Ulcer Index | 2.94% | 3.48% |
| Daily Std Dev | 19.10% | 17.16% |
| Max Drawdown | -70.47% | -55.09% |
| Current Drawdown | -3.88% | -1.06% |
Correlation
The correlation between CSD and ONEQ is 0.74, 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.
Performance
CSD vs. ONEQ - Performance Comparison
In the year-to-date period, CSD achieves a 29.43% return, which is significantly higher than ONEQ's 27.76% return. Over the past 10 years, CSD has underperformed ONEQ with an annualized return of 7.55%, while ONEQ has yielded a comparatively higher 16.32% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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CSD vs. ONEQ - Expense Ratio Comparison
CSD has a 0.65% expense ratio, which is higher than ONEQ's 0.21% expense ratio.
Risk-Adjusted Performance
CSD vs. ONEQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P Spin-Off ETF (CSD) and Fidelity NASDAQ Composite Index Tracking Stock (ONEQ). 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.
Dividends
CSD vs. ONEQ - Dividend Comparison
CSD's dividend yield for the trailing twelve months is around 0.40%, less than ONEQ's 0.61% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CSD Invesco S&P Spin-Off ETF | 0.40% | 0.51% | 0.86% | 0.73% | 0.99% | 1.08% | 0.99% | 0.60% | 1.62% | 2.61% | 1.64% | 0.19% |
ONEQ Fidelity NASDAQ Composite Index Tracking Stock | 0.61% | 0.71% | 0.97% | 0.54% | 0.71% | 1.64% | 1.08% | 0.84% | 1.12% | 1.04% | 1.19% | 0.84% |
Drawdowns
CSD vs. ONEQ - Drawdown Comparison
The maximum CSD drawdown since its inception was -70.47%, which is greater than ONEQ's maximum drawdown of -55.09%. Use the drawdown chart below to compare losses from any high point for CSD and ONEQ. For additional features, visit the drawdowns tool.
Volatility
CSD vs. ONEQ - Volatility Comparison
Invesco S&P Spin-Off ETF (CSD) has a higher volatility of 5.91% compared to Fidelity NASDAQ Composite Index Tracking Stock (ONEQ) at 5.43%. This indicates that CSD's price experiences larger fluctuations and is considered to be riskier than ONEQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.