EPMB vs. CSD

Last updated Jun 24, 2026

EPMB (Harbor Mid Cap Core ETF) and CSD (Invesco S&P Spin-Off ETF) are both Mid Cap Blend Equities funds. EPMB is actively managed, while CSD is passively managed. Over the past year, EPMB returned 27.09% vs 75.45% for CSD. Their correlation of 0.80 suggests significant overlap in exposure. EPMB charges 0.88%/yr vs 0.65%/yr for CSD.

Performance

EPMB vs. CSD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor Mid Cap Core ETF (EPMB) and Invesco S&P Spin-Off ETF (CSD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EPMB achieves a 14.90% return, which is significantly lower than CSD's 44.05% return.

EPMB

• 1D: -1.26%
• 1M: 2.30%
• YTD: 14.90%
• 6M: 13.66%
• 1Y: 27.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CSD

• 1D: -2.62%
• 1M: 5.93%
• YTD: 44.05%
• 6M: 41.48%
• 1Y: 75.45%
• 3Y*: 37.97%
• 5Y*: 18.05%
• 10Y*: 14.95%

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

EPMB vs. CSD - Yearly Performance Comparison

	2026 (YTD)	2025
EPMB Harbor Mid Cap Core ETF	14.90%	15.95%
CSD Invesco S&P Spin-Off ETF	44.05%	35.83%

Correlation

The correlation between EPMB and CSD is 0.80, 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	0.80
Correlation (All Time) Calculated using the full available price history since May 2, 2025	0.80

The correlation between EPMB and CSD has been stable across timeframes, ranging from 0.80 to 0.80 - a consistent structural relationship.

EPMB vs. CSD - Sectors Allocation Comparison

Sectors	EPMB	CSD
Industrials	27.4%	31.7%
Technology	21.9%	19.2%
Financial Services	13.8%	0.1%
Healthcare	10.4%	13.1%
Consumer Cyclical	9.9%	5.8%
Real Estate	5.1%	5.2%
Basic Materials	4.7%	10.6%
Energy	4.0%	-
Communication Services	2.5%	8.5%
Utilities	1.7%	5.9%
Consumer Defensive	1.1%	-

Return for Risk

EPMB vs. CSD — Risk / Return Rank

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

EPMB

EPMB Risk / Return Rank: 65
EPMB Sharpe Ratio Rank: 63
EPMB Sortino Ratio Rank: 67
EPMB Omega Ratio Rank: 59
EPMB Calmar Ratio Rank: 67
EPMB Martin Ratio Rank: 69

CSD

CSD Risk / Return Rank: 91
CSD Sharpe Ratio Rank: 92
CSD Sortino Ratio Rank: 88
CSD Omega Ratio Rank: 85
CSD Calmar Ratio Rank: 94
CSD Martin Ratio Rank: 94

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.

EPMB vs. CSD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Mid Cap Core ETF (EPMB) and Invesco S&P Spin-Off ETF (CSD). 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.

	EPMB	CSD	Difference
Sharpe ratio: Return per unit of total volatility	1.87	3.07	-1.20
Sortino ratio: Return per unit of downside risk	2.76	3.81	-1.05
Omega ratio: Gain probability vs. loss probability	1.33	1.49	-0.16
Calmar ratio: Return relative to maximum drawdown	3.04	6.69	-3.65
Martin ratio: Return relative to average drawdown	11.56	26.12	-14.56

EPMB vs. CSD - Sharpe Ratio Comparison

The current EPMB Sharpe Ratio is 1.87, which is lower than the CSD Sharpe Ratio of 3.07. The chart below compares the historical Sharpe Ratios of EPMB and CSD, 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

EPMB vs. CSD - Drawdown Comparison

The maximum EPMB drawdown since its inception was -8.95%, smaller than the maximum CSD drawdown of -70.47%. Use the drawdown chart below to compare losses from any high point for EPMB and CSD.

Drawdown Indicators

	EPMB	CSD	Difference
Max Drawdown Largest peak-to-trough decline	-8.95%	-70.47%	+61.52%
Max Drawdown (1Y) Largest decline over 1 year	-8.95%	-11.34%	+2.39%
Max Drawdown (3Y) Largest decline over 3 years	—	-30.15%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-30.15%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-57.55%	—
Current Drawdown Current decline from peak	-1.26%	-2.62%	+1.36%
Average Drawdown Average peak-to-trough decline	-1.46%	-14.19%	+12.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.35%	2.90%	-0.55%

Volatility

EPMB vs. CSD - Volatility Comparison

The current volatility for Harbor Mid Cap Core ETF (EPMB) is 4.44%, while Invesco S&P Spin-Off ETF (CSD) has a volatility of 7.74%. This indicates that EPMB experiences smaller price fluctuations and is considered to be less risky than CSD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EPMB	CSD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.44%	7.74%	-3.30%
Volatility (6M) Calculated over the trailing 6-month period	10.96%	18.71%	-7.75%
Volatility (1Y) Calculated over the trailing 1-year period	14.60%	24.74%	-10.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.81%	23.43%	-8.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.81%	24.90%	-10.09%

EPMB vs. CSD - Expense Ratio Comparison

EPMB has a 0.88% expense ratio, which is higher than CSD's 0.65% expense ratio.

Dividends

EPMB vs. CSD - Dividend Comparison

EPMB's dividend yield for the trailing twelve months is around 1.56%, more than CSD's 0.11% 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%
EPMB Harbor Mid Cap Core ETF	1.56%	1.79%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EPMB and CSD in my portfolio?

EPMB and CSD have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EPMB or CSD?

CSD has higher volatility (7.74%) compared to EPMB (4.44%). In terms of maximum drawdown, EPMB dropped -8.95% vs CSD's -70.47%.

Which ETF is better, EPMB or CSD?

On 1-year performance, CSD leads with 75.45% vs 27.09% for EPMB. On fees, CSD is cheaper at 0.65% per year. On volatility, EPMB has been the lower-risk option at 4.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EPMB or CSD?

Over the 1-year period, CSD has performed better with a 75.45% return vs 27.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EPMB or CSD?

CSD is cheaper with a 0.65% expense ratio, compared with 0.88% for EPMB.

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

EPMB has the higher dividend yield at 1.56%, compared with 0.11% for CSD.

What is the main difference between EPMB and CSD?

They also come from different issuers: Harbor and Invesco. Their fees differ too: 0.88% for EPMB and 0.65% for CSD.

Which has better risk-adjusted returns?

CSD currently has the higher Sharpe Ratio (3.07 vs 1.87), 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.