CSMD vs SPY
Congress SMid Growth ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | CSMD | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.68% | 0.09% | |
| AUM | $459M | $789.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 46 | 505 | |
| YTD Return | +12.37% | +13.68% | |
| 1Y Return | +11.03% | +21.53% | |
| 3Y Return (annualized) | +13.14% | +21.44% | |
| 5Y Return (annualized) | - | +13.18% | |
| Volatility (annualized) | 19.0% | 15.3% | |
| Max Drawdown | -22.5% | -56.5% | |
| Fund Family | Congress Asset Management Company | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Aug 22, 2023 | Jan 22, 1993 |
CSMD vs SPY Performance
Congress SMid Growth ETF (CSMD) is a ETF from Congress Asset Management Company and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year CSMD returned +11.03% while SPY returned +21.53%. Year to date, CSMD is up 12.37% versus a gain of 13.68% for SPY.
Over three years, CSMD compounded at +13.14% per year against +21.44% for SPY. Across the full 3-year window we track, CSMD has the edge at +13.14% annualized vs +8.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CSMD has been the more volatile fund, with annualized monthly volatility of 19.0% 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 -22.5% for CSMD 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 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CSMD charges 0.68% per year while SPY charges 0.09%. On a $10,000 position that is $68 vs $9 annually, a gap of $59 per year that compounds over a long holding period. On income, CSMD currently yields 0.00% against 1.01% for SPY.
Holdings Overlap
CSMD and SPY share 3 holdings out of 547 unique holdings combined, representing a 0.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CSMD or SPY?
CSMD has an expense ratio of 0.68% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $59 per year of difference.
Which performed better, CSMD or SPY?
Over the past year CSMD returned +11.03% vs +21.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (3 years), CSMD annualized +13.14% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, CSMD or SPY?
CSMD has been the more volatile fund at 19.0% annualized versus 15.3% for SPY. Worst drawdown: CSMD -22.5% vs SPY -56.5%.
Should I hold both CSMD and SPY?
CSMD and SPY have a monthly-return correlation of 0.81, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CSMD and SPY?
CSMD and SPY share 3 common holdings with a 0.1% weight overlap. Combined, they hold 547 unique securities.
Which pays a higher dividend, CSMD or SPY?
CSMD yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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