PTMC vs. CSD
PTMC (Pacer Trendpilot US Mid Cap ETF) and CSD (Invesco S&P Spin-Off ETF) are both Mid Cap Blend Equities funds - PTMC tracks the Pacer Trendpilot US Mid Cap Index while CSD tracks the S&P U.S. Spin-Off Index. Both are passively managed. Over the past 10 years, PTMC returned 7.02%/yr vs 15.79%/yr for CSD. A 0.69 correlation means they provide meaningful diversification when combined. PTMC charges 0.60%/yr vs 0.65%/yr for CSD.
Performance
PTMC vs. CSD - Performance Comparison
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Returns By Period
In the year-to-date period, PTMC achieves a 16.10% return, which is significantly lower than CSD's 50.08% return. Over the past 10 years, PTMC has underperformed CSD with an annualized return of 7.02%, while CSD has yielded a comparatively higher 15.79% annualized return.
PTMC
- 1D
- 0.71%
- 1M
- 2.46%
- YTD
- 16.10%
- 6M
- 13.77%
- 1Y
- 20.99%
- 3Y*
- 10.89%
- 5Y*
- 4.15%
- 10Y*
- 7.02%
CSD
- 1D
- 3.35%
- 1M
- 8.44%
- YTD
- 50.08%
- 6M
- 46.69%
- 1Y
- 81.27%
- 3Y*
- 39.59%
- 5Y*
- 18.85%
- 10Y*
- 15.79%
PTMC vs. CSD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PTMC Pacer Trendpilot US Mid Cap ETF | 16.10% | -1.55% | 13.22% | 7.29% | -13.99% | 12.42% | 6.58% | 1.04% | 0.02% | 17.79% |
CSD Invesco S&P Spin-Off ETF | 50.08% | 21.58% | 27.61% | 23.77% | -15.04% | 13.01% | 10.79% | 20.61% | -17.82% | 20.64% |
Correlation
The correlation between PTMC and CSD is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.69 |
The correlation between PTMC and CSD shifts across timeframes, from 0.69 (all time) to 0.83 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PTMC vs. CSD — Risk / Return Rank
PTMC
CSD
PTMC vs. CSD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pacer Trendpilot US Mid Cap ETF (PTMC) 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.
| PTMC | CSD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.94 | ||
| Sortino ratioReturn per unit of downside risk | -2.02 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.52 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 2.37 | 7.20 | -4.83 |
| Martin ratioReturn relative to average drawdown | 8.64 | 28.12 | -19.48 |
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Drawdowns
PTMC vs. CSD - Drawdown Comparison
The maximum PTMC drawdown since its inception was -20.53%, smaller than the maximum CSD drawdown of -70.47%. Use the drawdown chart below to compare losses from any high point for PTMC and CSD.
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Drawdown Indicators
| PTMC | CSD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.53% | -70.47% | +49.94% |
Max Drawdown (1Y)Largest decline over 1 year | -8.89% | -11.34% | +2.45% |
Max Drawdown (3Y)Largest decline over 3 years | -15.31% | -30.15% | +14.84% |
Max Drawdown (5Y)Largest decline over 5 years | -16.93% | -30.15% | +13.22% |
Max Drawdown (10Y)Largest decline over 10 years | -20.53% | -57.55% | +37.02% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -6.44% | -14.19% | +7.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.44% | 2.90% | -0.46% |
Volatility
PTMC vs. CSD - Volatility Comparison
The current volatility for Pacer Trendpilot US Mid Cap ETF (PTMC) is 4.36%, while Invesco S&P Spin-Off ETF (CSD) has a volatility of 8.20%. This indicates that PTMC 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.
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Volatility by Period
| PTMC | CSD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.36% | 8.20% | -3.84% |
Volatility (6M)Calculated over the trailing 6-month period | 11.78% | 18.95% | -7.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.72% | 24.88% | -9.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.25% | 23.48% | -10.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.97% | 24.92% | -11.95% |
PTMC vs. CSD - Expense Ratio Comparison
PTMC has a 0.60% expense ratio, which is lower than CSD's 0.65% expense ratio.
Dividends
PTMC vs. CSD - Dividend Comparison
PTMC's dividend yield for the trailing twelve months is around 1.59%, 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% |
PTMC Pacer Trendpilot US Mid Cap ETF | 1.59% | 1.84% | 0.87% | 1.92% | 0.82% | 0.12% | 0.53% | 1.40% | 0.89% | 0.67% | 0.66% | 0.00% |
Frequently Asked Questions
PTMC and CSD have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CSD has higher volatility (8.20%) compared to PTMC (4.36%). In terms of maximum drawdown, PTMC dropped -20.53% vs CSD's -70.47%.
On 10-year performance, CSD leads with 15.79% vs 7.02% for PTMC. On fees, PTMC is cheaper at 0.60% per year. On volatility, PTMC has been the lower-risk option at 4.36%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, CSD has performed better with a 15.79% return vs 7.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PTMC is cheaper with a 0.60% expense ratio, compared with 0.65% for CSD.
PTMC has the higher dividend yield at 1.59%, compared with 0.11% for CSD.
PTMC tracks Pacer Trendpilot US Mid Cap Index, while CSD tracks S&P U.S. Spin-Off Index. They also come from different issuers: Pacer and Invesco. Their fees differ too: 0.60% for PTMC and 0.65% for CSD.
CSD currently has the higher Sharpe Ratio (3.29 vs 1.34), 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.
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