CSD vs. SMIZ
Compare and contrast key facts about Invesco S&P Spin-Off ETF (CSD) and Zacks Small/Mid Cap ETF (SMIZ).
CSD and SMIZ 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. SMIZ is an actively managed fund by Zacks. It was launched on Oct 2, 2023.
Performance
CSD vs. SMIZ - Performance Comparison
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CSD vs. SMIZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CSD Invesco S&P Spin-Off ETF | 12.97% | 21.58% | 27.61% | 19.95% |
SMIZ Zacks Small/Mid Cap ETF | 0.22% | 12.16% | 17.92% | 16.39% |
Returns By Period
In the year-to-date period, CSD achieves a 12.97% return, which is significantly higher than SMIZ's 0.22% 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%
SMIZ
- 1D
- 3.63%
- 1M
- -5.65%
- YTD
- 0.22%
- 6M
- -0.15%
- 1Y
- 23.26%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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CSD vs. SMIZ - Expense Ratio Comparison
CSD has a 0.65% expense ratio, which is higher than SMIZ's 0.56% expense ratio.
Return for Risk
CSD vs. SMIZ — Risk / Return Rank
CSD
SMIZ
CSD vs. SMIZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P Spin-Off ETF (CSD) and Zacks Small/Mid Cap ETF (SMIZ). 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 | SMIZ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.74 | 1.11 | +0.63 |
Sortino ratioReturn per unit of downside risk | 2.30 | 1.65 | +0.65 |
Omega ratioGain probability vs. loss probability | 1.33 | 1.22 | +0.11 |
Calmar ratioReturn relative to maximum drawdown | 2.99 | 1.92 | +1.07 |
Martin ratioReturn relative to average drawdown | 12.37 | 7.62 | +4.74 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CSD | SMIZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.74 | 1.11 | +0.63 |
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 | 1.01 | -0.62 |
Correlation
The correlation between CSD and SMIZ is 0.86, 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. SMIZ - Dividend Comparison
CSD's dividend yield for the trailing twelve months is around 0.14%, less than SMIZ's 0.62% yield.
| 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% |
SMIZ Zacks Small/Mid Cap ETF | 0.62% | 0.62% | 1.57% | 0.07% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
CSD vs. SMIZ - Drawdown Comparison
The maximum CSD drawdown since its inception was -70.47%, which is greater than SMIZ's maximum drawdown of -25.04%. Use the drawdown chart below to compare losses from any high point for CSD and SMIZ.
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Drawdown Indicators
| CSD | SMIZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.47% | -25.04% | -45.43% |
Max Drawdown (1Y)Largest decline over 1 year | -17.08% | -12.13% | -4.95% |
Max Drawdown (5Y)Largest decline over 5 years | -30.15% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -57.55% | — | — |
Current DrawdownCurrent decline from peak | -7.06% | -7.26% | +0.20% |
Average DrawdownAverage peak-to-trough decline | -14.35% | -4.16% | -10.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.13% | 3.06% | +1.07% |
Volatility
CSD vs. SMIZ - Volatility Comparison
Invesco S&P Spin-Off ETF (CSD) has a higher volatility of 10.52% compared to Zacks Small/Mid Cap ETF (SMIZ) at 7.55%. This indicates that CSD's price experiences larger fluctuations and is considered to be riskier than SMIZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CSD | SMIZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.52% | 7.55% | +2.97% |
Volatility (6M)Calculated over the trailing 6-month period | 19.01% | 13.31% | +5.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.16% | 21.13% | +8.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.04% | 19.03% | +4.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.69% | 19.03% | +5.66% |