Invesco S&P Spin-Off ETF (CSD) Performance
CSD total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +24.5% since Dec 31, 2025
- 1 year
- +28.6% total return
- 5 years
- +14.1% a year
- 10 years
- +12.3% a year
- Since first price
- +9.4% a year since 2006
CSD trailing returns vs SPY, QQQ, AGG
| Period | CSD total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −4.2% | −4.2% | −1.0% | −5.0% | +0.9% |
| 3 months | −9.0% | −9.0% | +3.2% | +1.9% | −0.4% |
| 6 months | −2.3% | −2.3% | +7.8% | +8.4% | −1.5% |
| YTD | +24.5% | +24.5% | +12.3% | +15.1% | −1.0% |
| 1 year | +28.6% | +28.4% | +14.4% | +15.9% | −1.1% |
| 3 years | +134.4%+32.8%/yr | +132.4% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +93.1%+14.1%/yr | +88.4% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +219.4%+12.3%/yr | +195.5% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +537.5%+13.1%/yr | +460.7% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionDec 15, 2006 | +499.8%+9.4%/yr | +392.9% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: CSD vs SPY
From Dec 15, 2006: CSD grew to $59,976, SPY to $76,534.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
CSD returns by calendar year
15 of 19 full years positive. Best 2009 (+65.2%), worst 2008 (−55.2%). 2026 is year to date.
CSD annual returns table
| Year | CSD | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +24.5% | −17.1% | +12.3% | +15.1% | −1.0% |
| 2025 | +21.6% | −30.2% | +17.7% | +20.8% | +7.2% |
| 2024 | +27.6% | −9.4% | +24.9% | +25.6% | +1.3% |
| 2023 | +23.8% | −12.9% | +26.2% | +54.9% | +5.7% |
| 2022 | −15.0% | −24.1% | −18.2% | −32.6% | −13.0% |
| 2021 | +13.0% | −13.1% | +28.7% | +27.4% | −1.8% |
| 2020 | +10.8% | −53.6% | +18.3% | +48.6% | +7.5% |
| 2019 | +20.6% | −17.5% | +31.2% | +39.0% | +8.5% |
| 2018 | −17.8% | −28.6% | −4.6% | −0.1% | +0.1% |
| 2017 | +20.6% | −3.7% | +21.7% | +32.7% | +3.6% |
| 2016 | +14.8% | −14.3% | +12.0% | +7.1% | +2.4% |
| 2015 | −12.0% | −23.6% | +1.2% | +9.4% | +0.5% |
| 2014 | +1.1% | −9.7% | +13.5% | +19.2% | +6.0% |
| 2013 | +52.1% | −7.3% | +32.3% | +36.6% | −2.0% |
| 2012 | +26.4% | −6.8% | +16.0% | +18.1% | +3.8% |
| 2011 | +3.8% | −21.4% | +1.9% | +3.4% | +7.7% |
| 2010 | +22.0% | −16.1% | +15.1% | +19.9% | +6.4% |
| 2009 | +65.2% | −23.5% | +26.4% | +54.7% | +3.0% |
| 2008 | −55.2% | −64.9% | −36.8% | −41.7% | +7.9% |
| 2007 | +7.8% | −18.2% | +5.1% | +19.0% | +6.6% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
CSD largest drawdowns
Now 17.1% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jul 19, 2007 | −70.5% | Nov 20, 2008 | Dec 11, 2012 | 1.3 years | 5.4 years |
| Sep 21, 2018 | −57.5% | Mar 18, 2020 | Dec 16, 2020 | 1.5 years | 2.2 years |
| Apr 10, 2015 | −31.9% | Feb 11, 2016 | Apr 25, 2017 | 10 months | 2.0 years |
| Jan 23, 2025 | −30.2% | Apr 8, 2025 | Aug 27, 2025 | 2 months | 7 months |
| Sep 2, 2021 | −29.3% | Sep 30, 2022 | Feb 23, 2024 | 1.1 years | 2.5 years |
| Jun 30, 2026 | −17.1% | Oct 23, 2026 | not yet | 4 months | 4 months so far |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
CSD risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2006 |
|---|---|---|---|---|
| Annualized return | +31.6% | +15.6% | +12.3% | +9.6% |
| Volatility (annualized) | 22.1% | 22.5% | 24.3% | 22.4% |
| Sharpe ratio | 1.17 | 0.60 | 0.51 | 0.47 |
| Sortino ratio | 2.07 | 0.97 | 0.75 | 0.67 |
| Best month | +13.4% | +13.4% | +21.7% | +21.7% |
| Worst month | −11.2% | −13.0% | −33.4% | −33.4% |
| Best 12 months | +78.8% | +78.8% | +123.1% | +123.1% |
| Worst 12 months | +5.9% | −23.6% | −42.8% | −57.0% |
| Positive months | 67% | 57% | 62% | 59% |
| Beta vs S&P 500 | 1.26 | 1.12 | 1.33 | — |
| Correlation with S&P 500 | 0.71 | 0.78 | 0.84 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
CSD rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 227 | −57.0% | +12.4% | +123.1% | 69% |
| 3-year (a year) | 203 | −14.0% | +8.0% | +38.5% | 88% |
| 5-year (a year) | 179 | −8.5% | +10.6% | +35.2% | 94% |
| 10-year (a year) | 119 | +3.3% | +9.1% | +18.5% | 100% |
Every holding period starting at a month-end since 2006. Returns for 3 years and longer are annualized.
CSD performance overview
Invesco S&P Spin-Off ETF (CSD) returned +28.6% over the past year and +12.3% a year over ten years, with distributions reinvested. Since its first recorded price in 2006 it has returned +9.4% a year, turning $10,000 into about $59,976. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −70.5%, from Jul 19, 2007 to Nov 20, 2008, and it took 4.1 years to get back to the old high. CSD finished 15 of its 19 full calendar years with a gain; the best year was 2009 (+65.2%) and the worst 2008 (−55.2%). Volatility has been 22.4% a year.
Related: CSD chart, CSD holdings, CSD dividends, CSD valuation. See the CSD overview for the latest quote and fund facts.
CSD performance FAQ
What is the CSD return over the past year?
CSD returned +28.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 28.4%.
What is the average annual return of CSD?
CSD has returned +14.1% a year over 5 years, +12.3% a year over 10 years, +9.4% a year since December 15, 2006 (total return, distributions reinvested).
How much would $10,000 invested in CSD be worth?
$10,000 invested in CSD at its first recorded close on December 15, 2006 would be worth about $59,976 on October 23, 2026 with distributions reinvested.
What was the worst year for CSD?
The worst calendar year was 2008, with a total return of −55.2%. The best was 2009 at +65.2%.
What is the biggest drawdown of CSD?
The largest peak-to-trough decline was −70.5% between July 19, 2007 and November 20, 2008. It recovered to the old high on December 11, 2012, 4.1 years after the bottom.
How volatile is CSD?
Over the past 3 years CSD had an annualized volatility of 22.1% and a Sharpe ratio of 1.17 (excess return over 1–3 month T-bills per unit of risk).