CSD vs FCAL

Comparison between INVESCO S&P SPIN-OFF ETF (CSD, ETF) and FIRST TRUST CALIFORNIA MUNICIPAL HIGH INCOME ETF (FCAL, ETF).

5-Year PerformanceCSD has outperformed FCAL, delivering a return of +17.2% compared to +0.5%

CSD vs FCAL - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	CSD(ETF)	FCAL(ETF)
Net Assets	$223M	$224M
Expense Ratio	0.65%	0.49%
Max Drawdown	70.67%	16.86%
Sharpe Ratio	1.84	1.22
5Y Beta	1.29	-0.00
P/E Ratio	58.53	N/A
Forward P/E	22.83	N/A
PEG Ratio	0.20	N/A
5Y Dividends CAGR	-23.06%	7.91%
Debt to Equity	29.64%	N/A
P/S Ratio	1.93	N/A
P/B Ratio	2.54	N/A

Net Assets

CSD

$223M

Winner

FCAL

$224M

Expense Ratio

CSD

0.65%

Winner

FCAL

0.49%

Max Drawdown

CSD

70.67%

Winner

FCAL

16.86%

Sharpe Ratio

Winner

CSD

1.84

FCAL

1.22

5Y Beta

CSD

1.29

Winner

FCAL

-0.00

P/E Ratio

CSD

58.53

FCAL

N/A

Forward P/E

CSD

22.83

FCAL

N/A

PEG Ratio

CSD

0.20

FCAL

N/A

5Y Dividends CAGR

CSD

-23.06%

Winner

FCAL

7.91%

Debt to Equity

CSD

29.64%

FCAL

N/A

P/S Ratio

CSD

1.93

FCAL

N/A

P/B Ratio

CSD

2.54

FCAL

N/A

CSD vs FCAL - Historical Returns

Returns include dividend reinvestment.

Period	CSD	FCAL
1 month	-7.26%	-0.55%
3 months	+9.11%	+0.24%
6 months	+20.97%	+1.18%
1 year	+62.41%	+7.00%
5 years(CAGR)	+17.17%	+0.45%
10 years(CAGR)	+13.43%	+2.54%
Max(CAGR)	+10.11%	+2.54%

CSD

-7.26%

Winner

FCAL

-0.55%

Winner

CSD

+9.11%

FCAL

+0.24%

Winner

CSD

+20.97%

FCAL

+1.18%

Winner

CSD

+62.41%

FCAL

+7.00%

5Y(CAGR)

Winner

CSD

+17.17%

FCAL

+0.45%

10Y(CAGR)

Winner

CSD

+13.43%

FCAL

+2.54%

Max(CAGR)

Winner

CSD

+10.11%

FCAL

+2.54%

CSD vs FCAL - Annual Returns (2006 - 2026)

Returns include dividend reinvestment.

Year	CSD	FCAL
2026	+33.79%	+1.54%
2025	+20.31%	+3.05%
2024	+29.21%	+1.84%
2023	+24.33%	+6.19%
2022	-15.12%	-9.40%
2021	+15.54%	+3.02%
2020	+10.77%	+3.39%
2019	+19.30%	+9.63%
2018	-18.73%	+1.01%
2017	+20.00%	+4.40%
2016	+16.46%	N/A
2015	-12.04%	N/A
2014	+2.45%	N/A
2013	+47.95%	N/A
2012	+24.81%	N/A
2011	+2.66%	N/A
2010	+20.13%	N/A
2009	+65.62%	N/A
2008	-54.42%	N/A
2007	+8.83%	N/A
2006	-0.56%	N/A

CSD vs FCAL Drawdown Comparison

The maximum drawdown for CSD was -70.47%, occurring on Nov 20, 2008. Recovery took 1360 trading sessions.

The maximum drawdown for FCAL was -14.81%, occurring on Mar 20, 2020. Recovery took 204 trading sessions.

The current CSD drawdown is -8.63%. The current FCAL drawdown is -0.99%.

Rank	CSD	FCAL
#1	-70.47% Jul 19, 2007 - Dec 11, 2012	-14.81% Feb 28, 2020 - Dec 17, 2020
#2	-57.54% Sep 21, 2018 - Dec 16, 2020	-14.44% Jul 20, 2021 - Nov 11, 2025
#3	-31.85% Apr 10, 2015 - Apr 25, 2017	-2.96% Dec 29, 2017 - Dec 21, 2018
#4	-30.15% Jan 23, 2025 - Aug 27, 2025	-2.57% Feb 27, 2026 - Jun 22, 2026
#5	-29.30% Sep 2, 2021 - Feb 23, 2024	-2.28% Feb 12, 2021 - May 6, 2021
#6	-11.34% Feb 26, 2026 - Apr 9, 2026	-1.27% Aug 28, 2019 - Oct 8, 2019
#7	-10.60% Nov 29, 2013 - Mar 4, 2014	-1.10% Oct 9, 2019 - Dec 27, 2019
#8	-9.73% Mar 7, 2014 - Feb 12, 2015	-1.03% Dec 7, 2017 - Dec 28, 2017
#9	-9.64% Jun 30, 2026 - Jul 20, 2026	-0.99% Jul 2, 2026 - Jul 21, 2026
#10	-9.58% Jun 8, 2021 - Aug 27, 2021	-0.88% Aug 15, 2017 - Sep 12, 2017
#11	-9.40% Jan 26, 2018 - Sep 20, 2018	-0.71% Apr 15, 2019 - Apr 30, 2019
#12	-9.37% Nov 26, 2024 - Jan 21, 2025	-0.71% Sep 12, 2017 - Oct 19, 2017
#13	-8.79% Jul 31, 2024 - Aug 23, 2024	-0.65% Dec 28, 2018 - Jan 31, 2019
#14	-7.88% Nov 12, 2025 - Dec 3, 2025	-0.64% Nov 20, 2017 - Dec 5, 2017
#15	-7.88% Jan 14, 2021 - Feb 5, 2021	-0.58% Dec 21, 2018 - Dec 28, 2018

Correlation

Correlation between CSD and FCAL is 0.69 which considered as a moderate positive correlation - the stocks show some tendency to move together.

0.69

-101

Dividend Comparison (2007 - 2026)

CSD vs FCAL dividend yield comparison.

Year	CSD	FCAL
2026	0.00%	2.02%
2025	0.16%	3.22%
2024	0.17%	2.99%
2023	0.51%	2.74%
2022	0.86%	2.38%
2021	0.73%	2.03%
2020	0.99%	2.11%
2019	1.08%	2.68%
2018	0.99%	2.99%
2017	0.60%	1.30%
2016	1.62%	0.00%
2015	2.61%	0.00%
2014	1.64%	0.00%
2013	0.19%	0.00%
2012	0.26%	0.00%
2011	0.48%	0.00%
2010	0.47%	0.00%
2009	1.83%	0.00%
2008	3.70%	0.00%
2007	0.69%	0.00%