CSF vs SPY
CSF vs SPY
VictoryShares US Discovery Enhanced 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. CSF offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | CSF | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.41% | 0.09% | |
| AUM | $26M | $789.1B | |
| Dividend Yield | 1.51% | 1.01% | |
| Holdings | 508 | 505 | |
| YTD Return | -6.58% | +13.79% | |
| 1Y Return | +4.25% | +23.66% | |
| 3Y Return (annualized) | -2.15% | +21.40% | |
| 5Y Return (annualized) | +10.06% | +13.37% | |
| Volatility (annualized) | 16.1% | 15.3% | |
| Max Drawdown | -35.9% | -56.5% | |
| Fund Family | Victory Capital Management Inc. | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jul 31, 2014 | Jan 22, 1993 |
CSF vs SPY Performance
VictoryShares US Discovery Enhanced Volatility Wtd ETF (CSF) 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 CSF returned +4.25% while SPY returned +23.66%. Year to date, CSF is down 6.58% versus a gain of 13.79% for SPY.
Over three years, CSF compounded at -2.15% per year against +21.40% for SPY; over five years the annualized figures are +10.06% and +13.37% respectively. Across the full 11-year window we track, SPY has the edge at +8.85% annualized vs +5.02%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CSF has been the more volatile fund, with annualized monthly volatility of 16.1% 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 -35.9% for CSF 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 0.66. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CSF charges 0.41% per year while SPY charges 0.09%. On a $10,000 position that is $41 vs $9 annually, a gap of $32 per year that compounds over a long holding period. On income, CSF currently yields 1.51% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, CSF or SPY?
CSF has an expense ratio of 0.41% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $32 per year of difference.
Which performed better, CSF or SPY?
Over the past year CSF returned +4.25% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (11 years), CSF annualized +5.02% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, CSF or SPY?
CSF has been the more volatile fund at 16.1% annualized versus 15.3% for SPY. Worst drawdown: CSF -35.9% vs SPY -56.5%.
Should I hold both CSF and SPY?
CSF and SPY have a monthly-return correlation of 0.66, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, CSF or SPY?
CSF yields 1.51% while SPY yields 1.01%, so CSF currently pays the higher dividend yield.
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