IYM vs. CSD

Last updated Jun 23, 2026

IYM (iShares U.S. Basic Materials ETF) and CSD (Invesco S&P Spin-Off ETF) are both exchange-traded funds - IYM is a Materials fund tracking the Dow Jones U.S. Basic Materials 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, IYM returned 11.29%/yr vs 15.26%/yr for CSD. A 0.73 correlation means they provide meaningful diversification when combined. IYM charges 0.42%/yr vs 0.65%/yr for CSD.

Performance

IYM vs. CSD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Basic Materials ETF (IYM) 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, IYM achieves a 20.88% return, which is significantly lower than CSD's 47.93% return. Over the past 10 years, IYM has underperformed CSD with an annualized return of 11.29%, while CSD has yielded a comparatively higher 15.26% annualized return.

IYM

• 1D: -0.12%
• 1M: 2.18%
• YTD: 20.88%
• 6M: 19.00%
• 1Y: 37.99%
• 3Y*: 14.87%
• 5Y*: 9.23%
• 10Y*: 11.29%

CSD

• 1D: 0.87%
• 1M: 8.78%
• YTD: 47.93%
• 6M: 45.35%
• 1Y: 82.98%
• 3Y*: 39.20%
• 5Y*: 18.83%
• 10Y*: 15.26%

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

IYM vs. CSD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IYM iShares U.S. Basic Materials ETF	20.88%	20.41%	-4.54%	12.83%	-9.15%	25.62%	17.87%	19.22%	-16.63%	24.83%
CSD Invesco S&P Spin-Off ETF	47.93%	21.58%	27.61%	23.77%	-15.04%	13.01%	10.79%	20.61%	-17.82%	20.64%

Correlation

The correlation between IYM and CSD is 0.67, 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	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Dec 15, 2006	0.73

The correlation between IYM and CSD has been stable across timeframes, ranging from 0.67 to 0.77 - a consistent structural relationship.

IYM vs. CSD - Sectors Allocation Comparison

Sectors	IYM	CSD
Basic Materials	83.8%	10.6%
Industrials	12.5%	31.7%
Consumer Cyclical	3.4%	5.8%
Communication Services	-	8.5%
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	0.1%
Healthcare	-	13.1%
Real Estate	-	5.2%
Technology	-	19.2%
Utilities	-	5.9%

Return for Risk

IYM vs. CSD — Risk / Return Rank

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

IYM

IYM Risk / Return Rank: 58
IYM Sharpe Ratio Rank: 60
IYM Sortino Ratio Rank: 56
IYM Omega Ratio Rank: 54
IYM Calmar Ratio Rank: 59
IYM Martin Ratio Rank: 60

CSD

CSD Risk / Return Rank: 93
CSD Sharpe Ratio Rank: 94
CSD Sortino Ratio Rank: 91
CSD Omega Ratio Rank: 89
CSD Calmar Ratio Rank: 95
CSD Martin Ratio Rank: 95

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.

IYM vs. CSD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Basic Materials ETF (IYM) 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.

	IYM	CSD	Difference
Sharpe ratio: Return per unit of total volatility	1.95	3.39	-1.44
Sortino ratio: Return per unit of downside risk	2.60	4.14	-1.53
Omega ratio: Gain probability vs. loss probability	1.33	1.53	-0.21
Calmar ratio: Return relative to maximum drawdown	2.80	7.36	-4.55
Martin ratio: Return relative to average drawdown	10.54	28.78	-18.24

IYM vs. CSD - Sharpe Ratio Comparison

The current IYM Sharpe Ratio is 1.95, which is lower than the CSD Sharpe Ratio of 3.39. The chart below compares the historical Sharpe Ratios of IYM 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

IYM vs. CSD - Drawdown Comparison

The maximum IYM drawdown since its inception was -67.78%, roughly equal to the maximum CSD drawdown of -70.47%. Use the drawdown chart below to compare losses from any high point for IYM and CSD.

Drawdown Indicators

	IYM	CSD	Difference
Max Drawdown Largest peak-to-trough decline	-67.78%	-70.47%	+2.69%
Max Drawdown (1Y) Largest decline over 1 year	-13.61%	-11.34%	-2.27%
Max Drawdown (3Y) Largest decline over 3 years	-23.62%	-30.15%	+6.53%
Max Drawdown (5Y) Largest decline over 5 years	-29.94%	-30.15%	+0.21%
Max Drawdown (10Y) Largest decline over 10 years	-42.76%	-57.55%	+14.79%
Current Drawdown Current decline from peak	-2.07%	0.00%	-2.07%
Average Drawdown Average peak-to-trough decline	-11.44%	-14.20%	+2.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.61%	2.89%	+0.72%

Volatility

IYM vs. CSD - Volatility Comparison

iShares U.S. Basic Materials ETF (IYM) and Invesco S&P Spin-Off ETF (CSD) have volatilities of 7.05% and 7.09%, 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.

Volatility by Period

	IYM	CSD	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.05%	7.09%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	15.71%	18.54%	-2.83%
Volatility (1Y) Calculated over the trailing 1-year period	19.58%	24.62%	-5.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.48%	23.40%	-2.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.78%	24.92%	-3.14%

IYM vs. CSD - Expense Ratio Comparison

IYM has a 0.42% expense ratio, which is lower than CSD's 0.65% expense ratio.

Dividends

IYM vs. CSD - Dividend Comparison

IYM's dividend yield for the trailing twelve months is around 1.26%, 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%
IYM iShares U.S. Basic Materials ETF	1.26%	1.51%	1.65%	1.77%	2.14%	1.48%	1.39%	2.08%	1.68%	1.43%	1.47%	2.04%

Frequently Asked Questions

Can I hold both IYM and CSD in my portfolio?

IYM and CSD have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IYM or CSD?

CSD has higher volatility (7.09%) compared to IYM (7.05%). In terms of maximum drawdown, IYM dropped -67.78% vs CSD's -70.47%.

Which ETF is better, IYM or CSD?

On 10-year performance, CSD leads with 15.26% vs 11.29% for IYM. On fees, IYM is cheaper at 0.42% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IYM or CSD?

Over the 10-year period, CSD has performed better with a 15.26% return vs 11.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IYM or CSD?

IYM is cheaper with a 0.42% expense ratio, compared with 0.65% for CSD.

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

IYM has the higher dividend yield at 1.26%, compared with 0.11% for CSD.

What is the main difference between IYM and CSD?

IYM is categorized as Materials, while CSD is Mid Cap Blend Equities. IYM tracks Dow Jones U.S. Basic Materials Index, while CSD tracks S&P U.S. Spin-Off Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.42% for IYM and 0.65% for CSD.

Which has better risk-adjusted returns?

CSD currently has the higher Sharpe Ratio (3.39 vs 1.95), 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.