HFSP vs. CSM

Last updated Jun 4, 2026

HFSP (TradersAI Large Cap Equity & Cash ETF) and CSM (Proshares Large Cap Core Plus) are both Long-Short funds. HFSP is actively managed, while CSM is passively managed. Over the past year, HFSP returned -14.56% vs 28.48% for CSM. At a 0.02 correlation, their price movements are largely independent. HFSP charges 1.25%/yr vs 0.45%/yr for CSM.

Performance

HFSP vs. CSM - Performance Comparison

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

Returns By Period

In the year-to-date period, HFSP achieves a -5.81% return, which is significantly lower than CSM's 8.62% return.

HFSP

• 1D: -0.03%
• 1M: -1.34%
• YTD: -5.81%
• 6M: -4.27%
• 1Y: -14.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CSM

• 1D: -0.84%
• 1M: 4.86%
• YTD: 8.62%
• 6M: 9.99%
• 1Y: 28.48%
• 3Y*: 22.04%
• 5Y*: 13.38%
• 10Y*: 14.36%

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

HFSP vs. CSM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HFSP TradersAI Large Cap Equity & Cash ETF	-5.81%	-24.01%	1.15%
CSM Proshares Large Cap Core Plus	8.62%	21.84%	0.63%

Correlation

The correlation between HFSP and CSM is -0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.00
Correlation (All Time) Calculated using the full available price history since Oct 25, 2024	0.02

Return for Risk

HFSP vs. CSM — Risk / Return Rank

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

HFSP

HFSP Risk / Return Rank: 4
HFSP Sharpe Ratio Rank: 3
HFSP Sortino Ratio Rank: 4
HFSP Omega Ratio Rank: 3
HFSP Calmar Ratio Rank: 4
HFSP Martin Ratio Rank: 4

CSM

CSM Risk / Return Rank: 69
CSM Sharpe Ratio Rank: 72
CSM Sortino Ratio Rank: 72
CSM Omega Ratio Rank: 69
CSM Calmar Ratio Rank: 61
CSM Martin Ratio Rank: 71

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.

HFSP vs. CSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TradersAI Large Cap Equity & Cash ETF (HFSP) and Proshares Large Cap Core Plus (CSM). 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.

	HFSP	CSM	Difference
Sharpe ratio Return per unit of total volatility	-0.70	2.40	-3.10
Sortino ratio Return per unit of downside risk	-0.86	3.30	-4.16
Omega ratio Gain probability vs. loss probability	0.89	1.42	-0.54
Calmar ratio Return relative to maximum drawdown	-0.59	3.04	-3.64
Martin ratio Return relative to average drawdown	-1.04	13.25	-14.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HFSP vs. CSM - Sharpe Ratio Comparison

The current HFSP Sharpe Ratio is -0.70, which is lower than the CSM Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of HFSP and CSM, 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

	HFSP	CSM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.70	2.40	-3.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.79	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.78	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.75	0.86	-1.61

Drawdowns

HFSP vs. CSM - Drawdown Comparison

The maximum HFSP drawdown since its inception was -33.80%, smaller than the maximum CSM drawdown of -36.11%. Use the drawdown chart below to compare losses from any high point for HFSP and CSM.

Drawdown Indicators

	HFSP	CSM	Difference
Max Drawdown Largest peak-to-trough decline	-33.80%	-36.11%	+2.31%
Max Drawdown (1Y) Largest decline over 1 year	-24.64%	-9.40%	-15.24%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.30%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-23.82%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-36.11%	—
Current Drawdown Current decline from peak	-32.12%	-1.18%	-30.94%
Average Drawdown Average peak-to-trough decline	-17.02%	-4.04%	-12.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.04%	2.15%	+11.89%

Volatility

HFSP vs. CSM - Volatility Comparison

TradersAI Large Cap Equity & Cash ETF (HFSP) has a higher volatility of 5.01% compared to Proshares Large Cap Core Plus (CSM) at 2.85%. This indicates that HFSP's price experiences larger fluctuations and is considered to be riskier than CSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HFSP	CSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.01%	2.85%	+2.16%
Volatility (6M) Calculated over the trailing 6-month period	12.44%	8.81%	+3.63%
Volatility (1Y) Calculated over the trailing 1-year period	20.93%	11.95%	+8.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.48%	17.11%	+7.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.48%	18.38%	+6.10%

HFSP vs. CSM - Expense Ratio Comparison

HFSP has a 1.25% expense ratio, which is higher than CSM's 0.45% expense ratio.

Dividends

HFSP vs. CSM - Dividend Comparison

HFSP has not paid dividends to shareholders, while CSM's dividend yield for the trailing twelve months is around 1.01%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CSM Proshares Large Cap Core Plus	1.01%	1.04%	1.06%	1.17%	1.37%	0.78%	1.21%	1.41%	1.54%	1.28%	1.49%	1.67%
HFSP TradersAI Large Cap Equity & Cash ETF	0.00%	0.00%	1.53%	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 HFSP and CSM in my portfolio?

HFSP and CSM have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HFSP or CSM?

HFSP has higher volatility (5.01%) compared to CSM (2.85%). In terms of maximum drawdown, HFSP dropped -33.80% vs CSM's -36.11%.

Which ETF is better, HFSP or CSM?

On 1-year performance, CSM leads with 28.48% vs -14.56% for HFSP. On fees, CSM is cheaper at 0.45% per year. On volatility, CSM has been the lower-risk option at 2.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HFSP or CSM?

Over the 1-year period, CSM has performed better with a 28.48% return vs -14.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HFSP or CSM?

CSM is cheaper with a 0.45% expense ratio, compared with 1.25% for HFSP.

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

CSM has the higher dividend yield at 1.01%, compared with 0.00% for HFSP.

What is the main difference between HFSP and CSM?

They also come from different issuers: TradersAI and ProShares. Their fees differ too: 1.25% for HFSP and 0.45% for CSM.

Which has better risk-adjusted returns?

CSM currently has the higher Sharpe Ratio (2.40 vs -0.70), 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.