FUTY vs. CSD

Last updated Jun 4, 2026

FUTY (Fidelity MSCI Utilities Index ETF) and CSD (Invesco S&P Spin-Off ETF) are both exchange-traded funds - FUTY is a Utilities Equities fund tracking the MSCI USA IMI Utilities Index, while CSD is a Mid Cap Blend Equities fund tracking the S&P U.S. Spin-Off Index. Both are passively managed. Over the past 10 years, FUTY returned 9.03%/yr vs 14.07%/yr for CSD. At a 0.35 correlation, their price movements are largely independent. FUTY charges 0.08%/yr vs 0.65%/yr for CSD.

Performance

FUTY vs. CSD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity MSCI Utilities Index ETF (FUTY) 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, FUTY achieves a 3.16% return, which is significantly lower than CSD's 39.67% return. Over the past 10 years, FUTY has underperformed CSD with an annualized return of 9.03%, while CSD has yielded a comparatively higher 14.07% annualized return.

FUTY

• 1D: -0.60%
• 1M: -5.43%
• YTD: 3.16%
• 6M: 1.20%
• 1Y: 9.52%
• 3Y*: 13.62%
• 5Y*: 9.13%
• 10Y*: 9.03%

CSD

• 1D: 0.47%
• 1M: 8.22%
• YTD: 39.67%
• 6M: 39.98%
• 1Y: 71.88%
• 3Y*: 36.42%
• 5Y*: 16.45%
• 10Y*: 14.07%

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

FUTY vs. CSD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FUTY Fidelity MSCI Utilities Index ETF	3.16%	16.40%	23.20%	-7.46%	1.12%	17.53%	-0.80%	24.89%	4.36%	12.52%
CSD Invesco S&P Spin-Off ETF	39.67%	21.58%	27.61%	23.77%	-15.04%	13.01%	10.79%	20.61%	-17.82%	20.64%

Correlation

The correlation between FUTY and CSD is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (10Y) Calculated over the trailing 10-year period	0.34
Correlation (All Time) Calculated using the full available price history since Oct 25, 2013	0.35

The correlation between FUTY and CSD shifts across timeframes, from 0.32 (1 year) to 0.42 (5 years), reflecting how their relationship changes across market environments.

FUTY vs. CSD - Sectors Allocation Comparison

Sectors	FUTY	CSD
Utilities	99.2%	7.0%
Energy	0.5%	-
Industrials	0.2%	31.1%
Basic Materials	-	11.1%
Communication Services	-	9.0%
Consumer Cyclical	-	2.9%
Consumer Defensive	-	-
Financial Services	-	0.1%
Healthcare	-	13.1%
Real Estate	-	5.1%
Technology	-	18.6%

Return for Risk

FUTY vs. CSD — Risk / Return Rank

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

FUTY

FUTY Risk / Return Rank: 20
FUTY Sharpe Ratio Rank: 20
FUTY Sortino Ratio Rank: 18
FUTY Omega Ratio Rank: 19
FUTY Calmar Ratio Rank: 23
FUTY Martin Ratio Rank: 20

CSD

CSD Risk / Return Rank: 88
CSD Sharpe Ratio Rank: 89
CSD Sortino Ratio Rank: 84
CSD Omega Ratio Rank: 81
CSD Calmar Ratio Rank: 92
CSD Martin Ratio Rank: 93

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.

FUTY vs. CSD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Utilities Index ETF (FUTY) 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.

	FUTY	CSD	Difference
Sharpe ratio: Return per unit of total volatility	0.67	3.03	-2.37
Sortino ratio: Return per unit of downside risk	0.99	3.80	-2.81
Omega ratio: Gain probability vs. loss probability	1.12	1.49	-0.37
Calmar ratio: Return relative to maximum drawdown	1.07	6.37	-5.30
Martin ratio: Return relative to average drawdown	2.41	24.98	-22.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FUTY vs. CSD - Sharpe Ratio Comparison

The current FUTY Sharpe Ratio is 0.67, which is lower than the CSD Sharpe Ratio of 3.03. The chart below compares the historical Sharpe Ratios of FUTY 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.

Sharpe Ratios by Period

	FUTY	CSD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.67	3.03	-2.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.71	-0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	0.57	-0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.43	+0.12

Drawdowns

FUTY vs. CSD - Drawdown Comparison

The maximum FUTY drawdown since its inception was -36.44%, smaller than the maximum CSD drawdown of -70.47%. Use the drawdown chart below to compare losses from any high point for FUTY and CSD.

Drawdown Indicators

	FUTY	CSD	Difference
Max Drawdown Largest peak-to-trough decline	-36.44%	-70.47%	+34.03%
Max Drawdown (1Y) Largest decline over 1 year	-8.93%	-11.34%	+2.41%
Max Drawdown (3Y) Largest decline over 3 years	-17.35%	-30.15%	+12.80%
Max Drawdown (5Y) Largest decline over 5 years	-25.11%	-30.15%	+5.04%
Max Drawdown (10Y) Largest decline over 10 years	-36.44%	-57.55%	+21.11%
Current Drawdown Current decline from peak	-7.28%	0.00%	-7.28%
Average Drawdown Average peak-to-trough decline	-6.03%	-14.23%	+8.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.97%	2.89%	+1.08%

Volatility

FUTY vs. CSD - Volatility Comparison

The current volatility for Fidelity MSCI Utilities Index ETF (FUTY) is 5.45%, while Invesco S&P Spin-Off ETF (CSD) has a volatility of 6.19%. This indicates that FUTY 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

	FUTY	CSD	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.45%	6.19%	-0.74%
Volatility (6M) Calculated over the trailing 6-month period	11.40%	18.29%	-6.89%
Volatility (1Y) Calculated over the trailing 1-year period	14.33%	23.87%	-9.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.08%	23.26%	-6.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.05%	24.83%	-5.78%

FUTY vs. CSD - Expense Ratio Comparison

FUTY has a 0.08% expense ratio, which is lower than CSD's 0.65% expense ratio.

Dividends

FUTY vs. CSD - Dividend Comparison

FUTY's dividend yield for the trailing twelve months is around 2.61%, 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%
FUTY Fidelity MSCI Utilities Index ETF	2.61%	2.67%	2.96%	3.31%	2.72%	2.70%	3.07%	2.82%	3.11%	3.03%	3.35%	4.33%

Frequently Asked Questions

Can I hold both FUTY and CSD in my portfolio?

FUTY and CSD have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FUTY or CSD?

CSD has higher volatility (6.19%) compared to FUTY (5.45%). In terms of maximum drawdown, FUTY dropped -36.44% vs CSD's -70.47%.

Which ETF is better, FUTY or CSD?

On 10-year performance, CSD leads with 14.07% vs 9.03% for FUTY. On fees, FUTY is cheaper at 0.08% per year. On volatility, FUTY has been the lower-risk option at 5.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FUTY or CSD?

Over the 10-year period, CSD has performed better with a 14.07% return vs 9.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FUTY or CSD?

FUTY is cheaper with a 0.08% expense ratio, compared with 0.65% for CSD.

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

FUTY has the higher dividend yield at 2.61%, compared with 0.11% for CSD.

What is the main difference between FUTY and CSD?

FUTY is categorized as Utilities Equities, while CSD is Mid Cap Blend Equities. FUTY tracks MSCI USA IMI Utilities Index, while CSD tracks S&P U.S. Spin-Off Index. They also come from different issuers: Fidelity and Invesco. Their fees differ too: 0.08% for FUTY and 0.65% for CSD.

Which has better risk-adjusted returns?

CSD currently has the higher Sharpe Ratio (3.03 vs 0.67), 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.