CSM vs. MGK

Last updated Jun 24, 2026

CSM (Proshares Large Cap Core Plus) and MGK (Vanguard Mega Cap Growth ETF) are both exchange-traded funds - CSM is a Long-Short fund tracking the Credit Suisse 130/30 Large-Cap Index, while MGK is a Large Cap Growth Equities fund tracking the CRSP US Mega Cap Growth Index. Both are passively managed. Over the past 10 years, CSM returned 14.43%/yr vs 18.97%/yr for MGK. Their correlation of 0.90 suggests significant overlap in exposure. CSM charges 0.45%/yr vs 0.05%/yr for MGK.

Performance

CSM vs. MGK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Proshares Large Cap Core Plus (CSM) and Vanguard Mega Cap Growth ETF (MGK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CSM achieves a 6.09% return, which is significantly higher than MGK's 3.65% return. Over the past 10 years, CSM has underperformed MGK with an annualized return of 14.43%, while MGK has yielded a comparatively higher 18.97% annualized return.

CSM

• 1D: -1.20%
• 1M: -1.28%
• YTD: 6.09%
• 6M: 5.46%
• 1Y: 24.27%
• 3Y*: 20.69%
• 5Y*: 12.67%
• 10Y*: 14.43%

MGK

• 1D: -2.12%
• 1M: -3.93%
• YTD: 3.65%
• 6M: 2.34%
• 1Y: 21.62%
• 3Y*: 23.33%
• 5Y*: 13.84%
• 10Y*: 18.97%

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

CSM vs. MGK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CSM Proshares Large Cap Core Plus	6.09%	21.84%	22.09%	23.50%	-18.27%	33.13%	10.94%	29.26%	-7.88%	22.52%
MGK Vanguard Mega Cap Growth ETF	3.65%	20.67%	32.94%	51.67%	-33.59%	28.58%	41.01%	37.38%	-2.91%	29.49%

Correlation

The correlation between CSM and MGK is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Jul 14, 2009	0.90

The correlation between CSM and MGK has been stable across timeframes, ranging from 0.86 to 0.90 - a consistent structural relationship.

CSM vs. MGK - Sectors Allocation Comparison

Sectors	CSM	MGK
Technology	33.0%	59.0%
Financial Services	12.1%	4.1%
Consumer Cyclical	9.8%	12.2%
Industrials	9.6%	1.0%
Healthcare	9.2%	4.6%
Communication Services	8.9%	15.8%
Consumer Defensive	5.2%	0.4%
Utilities	3.9%	1.0%
Real Estate	3.6%	1.1%
Energy	2.9%	-
Basic Materials	1.9%	0.6%

Return for Risk

CSM vs. MGK — Risk / Return Rank

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

CSM

CSM Risk / Return Rank: 60
CSM Sharpe Ratio Rank: 63
CSM Sortino Ratio Rank: 61
CSM Omega Ratio Rank: 59
CSM Calmar Ratio Rank: 56
CSM Martin Ratio Rank: 63

MGK

MGK Risk / Return Rank: 33
MGK Sharpe Ratio Rank: 36
MGK Sortino Ratio Rank: 34
MGK Omega Ratio Rank: 34
MGK Calmar Ratio Rank: 27
MGK Martin Ratio Rank: 31

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.

CSM vs. MGK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Proshares Large Cap Core Plus (CSM) and Vanguard Mega Cap Growth ETF (MGK). 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.

	CSM	MGK	Difference
Sharpe ratio: Return per unit of total volatility	1.97	1.26	+0.71
Sortino ratio: Return per unit of downside risk	2.71	1.76	+0.95
Omega ratio: Gain probability vs. loss probability	1.34	1.22	+0.12
Calmar ratio: Return relative to maximum drawdown	2.59	1.29	+1.31
Martin ratio: Return relative to average drawdown	10.87	4.31	+6.56

CSM vs. MGK - Sharpe Ratio Comparison

The current CSM Sharpe Ratio is 1.97, which is higher than the MGK Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of CSM and MGK, 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

CSM vs. MGK - Drawdown Comparison

The maximum CSM drawdown since its inception was -36.11%, smaller than the maximum MGK drawdown of -48.43%. Use the drawdown chart below to compare losses from any high point for CSM and MGK.

Drawdown Indicators

	CSM	MGK	Difference
Max Drawdown Largest peak-to-trough decline	-36.11%	-48.43%	+12.32%
Max Drawdown (1Y) Largest decline over 1 year	-9.40%	-16.85%	+7.45%
Max Drawdown (3Y) Largest decline over 3 years	-18.30%	-23.36%	+5.06%
Max Drawdown (5Y) Largest decline over 5 years	-23.82%	-36.01%	+12.19%
Max Drawdown (10Y) Largest decline over 10 years	-36.11%	-36.01%	-0.10%
Current Drawdown Current decline from peak	-3.47%	-7.14%	+3.67%
Average Drawdown Average peak-to-trough decline	-4.03%	-7.58%	+3.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.24%	5.02%	-2.78%

Volatility

CSM vs. MGK - Volatility Comparison

The current volatility for Proshares Large Cap Core Plus (CSM) is 4.50%, while Vanguard Mega Cap Growth ETF (MGK) has a volatility of 7.08%. This indicates that CSM experiences smaller price fluctuations and is considered to be less risky than MGK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CSM	MGK	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.50%	7.08%	-2.58%
Volatility (6M) Calculated over the trailing 6-month period	9.57%	13.75%	-4.18%
Volatility (1Y) Calculated over the trailing 1-year period	12.42%	17.33%	-4.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.19%	22.80%	-5.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.39%	21.96%	-3.57%

CSM vs. MGK - Expense Ratio Comparison

CSM has a 0.45% expense ratio, which is higher than MGK's 0.05% expense ratio.

Dividends

CSM vs. MGK - Dividend Comparison

CSM's dividend yield for the trailing twelve months is around 1.03%, more than MGK's 0.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CSM Proshares Large Cap Core Plus	1.03%	1.04%	1.06%	1.17%	1.37%	0.78%	1.21%	1.41%	1.54%	1.28%	1.49%	1.67%
MGK Vanguard Mega Cap Growth ETF	0.34%	0.35%	0.43%	0.50%	0.70%	0.41%	0.65%	0.85%	1.12%	1.23%	1.53%	1.43%

Frequently Asked Questions

Can I hold both CSM and MGK in my portfolio?

CSM and MGK have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CSM or MGK?

MGK has higher volatility (7.08%) compared to CSM (4.50%). In terms of maximum drawdown, CSM dropped -36.11% vs MGK's -48.43%.

Which ETF is better, CSM or MGK?

On 10-year performance, MGK leads with 18.97% vs 14.43% for CSM. On fees, MGK is cheaper at 0.05% per year. On volatility, CSM has been the lower-risk option at 4.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CSM or MGK?

Over the 10-year period, MGK has performed better with a 18.97% return vs 14.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CSM or MGK?

MGK is cheaper with a 0.05% expense ratio, compared with 0.45% for CSM.

Which ETF pays a higher dividend yield, CSM or MGK?

CSM has the higher dividend yield at 1.03%, compared with 0.34% for MGK.

What is the main difference between CSM and MGK?

CSM is categorized as Long-Short, while MGK is Large Cap Growth Equities. CSM tracks Credit Suisse 130/30 Large-Cap Index, while MGK tracks CRSP US Mega Cap Growth Index. They also come from different issuers: ProShares and Vanguard. Their fees differ too: 0.45% for CSM and 0.05% for MGK.

Which has better risk-adjusted returns?

CSM currently has the higher Sharpe Ratio (1.97 vs 1.26), 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.