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CSM vs. VOO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CSM vs. VOO

Last updated Aug 2, 2026
Documentation

CSM (Proshares Large Cap Core Plus) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - CSM is a Long-Short fund tracking the Credit Suisse 130/30 Large-Cap Index, while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, CSM returned 14.08%/yr vs 15.14%/yr for VOO. Their 0.96 correlation means they have historically moved very closely together. CSM charges 0.45%/yr vs 0.03%/yr for VOO.

Performance

CSM vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Proshares Large Cap Core Plus (CSM) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, CSM achieves a 9.15% return, which is significantly lower than VOO's 10.16% return. Over the past 10 years, CSM has underperformed VOO with an annualized return of 14.08%, while VOO has yielded a comparatively higher 15.14% annualized return.

CSM

1D
0.77%
1M
1.39%
6M
8.81%
YTD
9.15%
1Y
23.59%
3Y*
19.26%
5Y*
12.61%
10Y*
14.08%
ALL TIME*
14.88%

VOO

1D
0.71%
1M
0.26%
6M
8.58%
YTD
10.16%
1Y
21.58%
3Y*
19.42%
5Y*
12.83%
10Y*
15.14%
ALL TIME*
14.78%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

CSM

Proshares Large Cap Core Plus
$421.46K$485.98K$561.72K

VOO

Vanguard S&P 500 ETF
$3.82B$3.78B$5.44B

CSM vs. VOO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CSM
Proshares Large Cap Core Plus		9.15%21.84%22.09%23.50%-18.27%33.13%10.94%29.26%-7.88%22.52%
VOO
Vanguard S&P 500 ETF		10.16%17.82%24.98%26.32%-18.17%28.79%18.32%31.37%-4.50%21.77%

Correlation

The correlation between CSM and VOO is 0.96 - they have historically moved very closely together. At this level, their price movements offset little of one another.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.96

Correlation (3Y)
Balances recent behavior with more history.

0.97

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.97

Correlation (10Y)
Provides a long-term view across more market conditions.

0.97

Correlation (All Time)
Calculated using the full available price history since Sep 9, 2010

0.96

The correlation between CSM and VOO has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

CSM vs. VOO - Sectors Allocation Comparison

Sectors
CSM
VOO

Technology

29.3%
38.6%

Financial Services

16.5%
11.4%

Consumer Cyclical

8.9%
9.5%

Industrials

8.8%
8.5%

Healthcare

8.4%
8.9%

Communication Services

6.8%
9.9%

Consumer Defensive

4.5%
4.5%

Real Estate

4.2%
1.8%

Utilities

4.1%
2.2%

Energy

2.8%
3.0%

Basic Materials

2.5%
1.7%

Technology

CSM
29.3%
VOO
38.6%

Financial Services

CSM
16.5%
VOO
11.4%

Consumer Cyclical

CSM
8.9%
VOO
9.5%

Industrials

CSM
8.8%
VOO
8.5%

Healthcare

CSM
8.4%
VOO
8.9%

Communication Services

CSM
6.8%
VOO
9.9%

Consumer Defensive

CSM
4.5%
VOO
4.5%

Real Estate

CSM
4.2%
VOO
1.8%

Utilities

CSM
4.1%
VOO
2.2%

Energy

CSM
2.8%
VOO
3.0%

Basic Materials

CSM
2.5%
VOO
1.7%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Proshares Large Cap Core Plus

Vanguard S&P 500 ETF

Often compared with CSM:
CSM vs. SPYCSM vs. QQQCSM vs. VTICSM vs. BRK-BCSM vs. BDGSCSM vs. ^GSPCCSM vs. KMLM
Often compared with VOO:
VOO vs. VTIVOO vs. QQQVOO vs. SCHDVOO vs. VTVOO vs. FXAIXVOO vs. SPYVOO vs. VGT

Return for Risk

CSM vs. VOO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
CSM
CSM Risk / Return Rank: 7373
Overall Rank
CSM Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
CSM Sortino Ratio Rank: 7575
Sortino Ratio Rank
CSM Omega Ratio Rank: 7171
Omega Ratio Rank
CSM Calmar Ratio Rank: 6767
Calmar Ratio Rank
CSM Martin Ratio Rank: 7575
Martin Ratio Rank
VOO
VOO Risk / Return Rank: 6868
Overall Rank
VOO Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
VOO Sortino Ratio Rank: 6565
Sortino Ratio Rank
VOO Omega Ratio Rank: 6666
Omega Ratio Rank
VOO Calmar Ratio Rank: 6464
Calmar Ratio Rank
VOO Martin Ratio Rank: 7676
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CSM vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Proshares Large Cap Core Plus (CSM) and Vanguard S&P 500 ETF (VOO). 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.

CSMVOODifference
Sharpe ratioReturn per unit of total volatility
1.72
1.53

+0.19

Sortino ratioReturn per unit of downside risk
2.39
2.13

+0.26

Omega ratioGain probability vs. loss probability

1.30

1.28

+0.02

Calmar ratioReturn relative to maximum drawdown

2.32

2.21

+0.12

Martin ratioReturn relative to average drawdown

9.34

9.44

-0.09

CSM vs. VOO - Sharpe Ratio Comparison

The current CSM Sharpe Ratio is 1.72, which is comparable to the VOO Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of CSM and VOO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

CSM vs. VOO - Drawdown Comparison

The maximum CSM drawdown since its inception was -36.11%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for CSM and VOO.

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Drawdown Indicators

CSMVOODifference

Max Drawdown

Largest peak-to-trough decline

-36.11%

-33.99%

-2.12%

Max Drawdown (1Y)

Largest decline over 1 year

-9.40%

-8.90%

-0.50%

Max Drawdown (3Y)

Largest decline over 3 years

-18.30%

-18.69%

+0.39%

Max Drawdown (5Y)

Largest decline over 5 years

-23.82%

-24.52%

+0.70%

Max Drawdown (10Y)

Largest decline over 10 years

-36.11%

-33.99%

-2.12%

Current Drawdown

Current decline from peak

-0.69%

-1.38%

+0.69%

Average Drawdown

Average peak-to-trough decline

-4.02%

-3.67%

-0.35%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.34%

2.08%

+0.26%

Volatility

CSM vs. VOO - Volatility Comparison

Proshares Large Cap Core Plus (CSM) and Vanguard S&P 500 ETF (VOO) have volatilities of 3.59% and 3.54%, 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.

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Volatility by Period

CSMVOODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.59%

3.54%

+0.05%

Volatility (6M)

Calculated over the trailing 6-month period

9.64%

10.10%

-0.46%

Volatility (1Y)

Calculated over the trailing 1-year period

12.69%

12.82%

-0.13%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.19%

16.93%

+0.26%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.37%

18.01%

+0.36%

CSM vs. VOO - Expense Ratio Comparison

CSM has a 0.45% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

CSM vs. VOO - Dividend Comparison

CSM's dividend yield for the trailing twelve months is around 1.04%, less than VOO's 1.07% yield.

PositionTTM20252024202320222021202020192018201720162015
CSM
Proshares Large Cap Core Plus		1.04%1.04%1.06%1.17%1.37%0.78%1.21%1.41%1.54%1.28%1.49%1.67%
VOO
Vanguard S&P 500 ETF		1.07%1.13%1.24%1.46%1.69%1.25%1.54%1.88%2.06%1.78%2.02%2.10%

Frequently Asked Questions

With a correlation of 0.96, CSM and VOO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

CSM has higher volatility (3.59%) compared to VOO (3.54%). In terms of maximum drawdown, CSM dropped -36.11% vs VOO's -33.99%.

On 10-year performance, VOO leads with 15.14% vs 14.08% for CSM. On fees, VOO is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, VOO has performed better with a 15.14% return vs 14.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VOO is cheaper with a 0.03% expense ratio, compared with 0.45% for CSM.

VOO has the higher dividend yield at 1.07%, compared with 1.04% for CSM.

CSM is categorized as Long-Short, while VOO is S&P 500. CSM tracks Credit Suisse 130/30 Large-Cap Index, while VOO tracks S&P 500 Index. They also come from different issuers: ProShares and Vanguard. Their fees differ too: 0.45% for CSM and 0.03% for VOO.

CSM currently has the higher Sharpe Ratio (1.72 vs 1.53), 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.

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