CSD vs VYM
Invesco S&P Spin-Off ETF vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM has a lower expense ratio. CSD delivered stronger 1-year returns. VYM offers more diversification with 558 holdings.
Side-by-Side Comparison
| Metric | CSD | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.65% | 0.04% | |
| AUM | $229M | $79.0B | |
| Dividend Yield | 0.11% | 2.86% | |
| Holdings | 27 | 568 | |
| YTD Return | +31.15% | +15.80% | |
| 1Y Return | +57.06% | +26.12% | |
| 3Y Return (annualized) | +31.44% | +18.25% | |
| 5Y Return (annualized) | +16.29% | +12.51% | |
| Volatility (annualized) | 22.4% | 14.6% | |
| Max Drawdown | -70.5% | -58.8% | |
| Fund Family | Invesco (US) | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Dec 15, 2006 | Nov 10, 2006 |
CSD vs VYM Performance
Invesco S&P Spin-Off ETF (CSD) is a ETF from Invesco (US) and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year CSD returned +57.06% while VYM returned +26.12%. Year to date, CSD is up 31.15% versus a gain of 15.80% for VYM.
Over three years, CSD compounded at +31.44% per year against +18.25% for VYM; over five years the annualized figures are +16.29% and +12.51% respectively. Across the full 20-year window we track, CSD has the edge at +9.97% annualized vs +7.07%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CSD has been the more volatile fund, with annualized monthly volatility of 22.4% compared with 14.6% for VYM. 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 -70.5% for CSD and -58.8% for VYM. 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 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CSD charges 0.65% per year while VYM charges 0.04%. On a $10,000 position that is $65 vs $4 annually, a gap of $61 per year that compounds over a long holding period. On income, CSD currently yields 0.11% against 2.86% for VYM.
Holdings Overlap
CSD and VYM share 4 holdings out of 580 unique holdings combined, representing a 0.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CSD or VYM?
CSD has an expense ratio of 0.65% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $61 per year of difference.
Which performed better, CSD or VYM?
Over the past year CSD returned +57.06% vs +26.12% for VYM, so CSD leads on 1-year performance. Over the longest common window we track (20 years), CSD annualized +9.97% vs +7.07% for VYM. Past performance does not guarantee future results.
Which is riskier, CSD or VYM?
CSD has been the more volatile fund at 22.4% annualized versus 14.6% for VYM. Worst drawdown: CSD -70.5% vs VYM -58.8%.
Should I hold both CSD and VYM?
CSD and VYM have a monthly-return correlation of 0.83, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CSD and VYM?
CSD and VYM share 4 common holdings with a 0.2% weight overlap. Combined, they hold 580 unique securities.
Which pays a higher dividend, CSD or VYM?
CSD yields 0.11% while VYM yields 2.86%, so VYM currently pays the higher dividend yield.
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