CSA vs SPY
VictoryShares US Small Cap Volatility Wtd ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. CSA offers more diversification with 507 holdings.
Side-by-Side Comparison
| Metric | CSA | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.35% | 0.09% | |
| AUM | $20M | $821.1B | |
| Dividend Yield | 1.50% | 1.01% | |
| Holdings | 507 | 505 | |
| YTD Return | -10.11% | +14.24% | |
| 1Y Return | +0.59% | +21.71% | |
| 3Y Return (annualized) | +3.64% | +22.10% | |
| 5Y Return (annualized) | +15.99% | +13.21% | |
| Volatility (annualized) | 20.5% | 15.3% | |
| Max Drawdown | -42.4% | -56.5% | |
| Fund Family | Victory Capital Management Inc. | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jul 7, 2015 | Jan 22, 1993 |
CSA vs SPY Performance
VictoryShares US Small Cap Volatility Wtd ETF (CSA) is a ETF from Victory Capital Management Inc. and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year CSA returned +0.59% while SPY returned +21.71%. Year to date, CSA is down 10.11% versus a gain of 14.24% for SPY.
Over three years, CSA compounded at +3.64% per year against +22.10% for SPY; over five years the annualized figures are +15.99% and +13.21% respectively. Across the full 10-year window we track, SPY has the edge at +8.86% annualized vs +8.20%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CSA has been the more volatile fund, with annualized monthly volatility of 20.5% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -42.4% for CSA and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.84. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CSA charges 0.35% per year while SPY charges 0.09%. On a $10,000 position that is $35 vs $9 annually, a gap of $26 per year that compounds over a long holding period. On income, CSA currently yields 1.50% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, CSA or SPY?
CSA has an expense ratio of 0.35% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $26 per year of difference.
Which performed better, CSA or SPY?
Over the past year CSA returned +0.59% vs +21.71% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (10 years), CSA annualized +8.20% vs +8.86% for SPY. Past performance does not guarantee future results.
Which is riskier, CSA or SPY?
CSA has been the more volatile fund at 20.5% annualized versus 15.3% for SPY. Worst drawdown: CSA -42.4% vs SPY -56.5%.
Should I hold both CSA and SPY?
CSA and SPY have a monthly-return correlation of 0.84, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, CSA or SPY?
CSA yields 1.50% while SPY yields 1.01%, so CSA currently pays the higher dividend yield.
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