MSSM vs. CSB
Compare and contrast key facts about Morgan Stanley Pathway Small-Mid Cap Equity ETF (MSSM) and VictoryShares US Small Cap High Dividend Volatility Wtd ETF (CSB).
MSSM and CSB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MSSM is an actively managed fund by Morgan Stanley. It was launched on Dec 9, 2024. CSB is a passively managed fund by Crestview that tracks the performance of the Nasdaq Victory U.S. Small Cap High Dividend 100 Volatility Weighted Index. It was launched on Jul 8, 2015.
Performance
MSSM vs. CSB - Performance Comparison
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MSSM vs. CSB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MSSM Morgan Stanley Pathway Small-Mid Cap Equity ETF | 2.02% | 11.33% | -5.83% |
CSB VictoryShares US Small Cap High Dividend Volatility Wtd ETF | 6.03% | 2.26% | -4.86% |
Returns By Period
In the year-to-date period, MSSM achieves a 2.02% return, which is significantly lower than CSB's 6.03% return.
MSSM
- 1D
- 3.41%
- 1M
- -5.48%
- YTD
- 2.02%
- 6M
- 4.73%
- 1Y
- 23.35%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CSB
- 1D
- 1.09%
- 1M
- -1.77%
- YTD
- 6.03%
- 6M
- 6.43%
- 1Y
- 11.49%
- 3Y*
- 9.80%
- 5Y*
- 4.36%
- 10Y*
- 9.66%
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MSSM vs. CSB - Expense Ratio Comparison
MSSM has a 0.62% expense ratio, which is higher than CSB's 0.35% expense ratio.
Return for Risk
MSSM vs. CSB — Risk / Return Rank
MSSM
CSB
MSSM vs. CSB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Pathway Small-Mid Cap Equity ETF (MSSM) and VictoryShares US Small Cap High Dividend Volatility Wtd ETF (CSB). 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.
| MSSM | CSB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.07 | 0.60 | +0.46 |
Sortino ratioReturn per unit of downside risk | 1.58 | 0.97 | +0.61 |
Omega ratioGain probability vs. loss probability | 1.21 | 1.13 | +0.08 |
Calmar ratioReturn relative to maximum drawdown | 1.63 | 0.84 | +0.79 |
Martin ratioReturn relative to average drawdown | 6.89 | 2.95 | +3.94 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MSSM | CSB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.07 | 0.60 | +0.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.23 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.45 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.44 | -0.19 |
Correlation
The correlation between MSSM and CSB is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
MSSM vs. CSB - Dividend Comparison
MSSM's dividend yield for the trailing twelve months is around 3.09%, less than CSB's 3.40% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MSSM Morgan Stanley Pathway Small-Mid Cap Equity ETF | 3.09% | 3.15% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
CSB VictoryShares US Small Cap High Dividend Volatility Wtd ETF | 3.40% | 3.54% | 3.12% | 3.45% | 3.60% | 3.11% | 3.70% | 3.19% | 3.45% | 3.19% | 2.85% | 1.57% |
Drawdowns
MSSM vs. CSB - Drawdown Comparison
The maximum MSSM drawdown since its inception was -24.18%, smaller than the maximum CSB drawdown of -42.07%. Use the drawdown chart below to compare losses from any high point for MSSM and CSB.
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Drawdown Indicators
| MSSM | CSB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.18% | -42.07% | +17.89% |
Max Drawdown (1Y)Largest decline over 1 year | -14.13% | -14.18% | +0.05% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.49% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.07% | — |
Current DrawdownCurrent decline from peak | -6.42% | -3.71% | -2.71% |
Average DrawdownAverage peak-to-trough decline | -5.12% | -7.23% | +2.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.34% | 4.02% | -0.68% |
Volatility
MSSM vs. CSB - Volatility Comparison
Morgan Stanley Pathway Small-Mid Cap Equity ETF (MSSM) has a higher volatility of 7.40% compared to VictoryShares US Small Cap High Dividend Volatility Wtd ETF (CSB) at 3.83%. This indicates that MSSM's price experiences larger fluctuations and is considered to be riskier than CSB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSSM | CSB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.40% | 3.83% | +3.57% |
Volatility (6M)Calculated over the trailing 6-month period | 13.24% | 10.03% | +3.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.97% | 19.08% | +2.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.36% | 18.90% | +2.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.36% | 21.32% | +0.04% |