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Launched · SEC filings

Invesco S&P Spin-Off ETF

CSDNYSE ArcaInvescoB

$128.28−1.73 (−1.33%)

As of Nov 10, 2026, 11:15 AM ET

B62/ 100

Rank 2 of 8 in IPO & Spin-Off

B62/100Rank 2 of 8inIPO & Spin-Off
Intraday session: down, 22 prints from 130.01 to 128.28. Range 127.85 to 129.14. Use the arrow keys to read each point.128.00129.00129.5010 AM12 PM2 PM4 PM
Expense ratio
0.65%*
Fund size
$204M
1Y total return
+34.6%
Yield · Last 12 months
0.12%
Holdings
32
Avg volume · 30D
11K sh
52W range
low $91.45high $150.43
Launched
Filings
SEC EDGAR

*After a fee waiver that ends Aug 31, 2028. Without it: 0.66%.

The ETF.net CSD Grade

Based on 5 of 6 pillars

B

Score 62 out of 100

Category
IPO & Spin-Off⁠
Rank
2 of 8
Six-pillar profile for CSD. Scores out of 100: Cost 64, Risk 64, Mission not scored, Tradability 73, Holdings 33, Durability 81. Strongest: Durability (81). Weakest: Holdings (33). Based on 5 of 6 pillars.

Score 62 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    B64 out of 100
    Rank 3 of 8

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B64 out of 100
    Rank 3 of 8

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A73 out of 100
    Rank 2 of 8

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    D33 out of 100
    Rank 7 of 7

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A81 out of 100
    Rank 2 of 8

Our read on CSD

ETF.net Research

In short

BMost funds in this corner of the market chase IPOs. CSD buys the other kind of new company: businesses cut loose from a bigger parent, held only for their first four years on their own, then rolled off.

Stated mandate

The fund seeks exposure to companies spun off from parent companies by tracking the S&P U.S. Spin-Off Index, investing at least 90% of assets in index securities or depositary receipts.

Why people hold it

  • The mandate is narrow and literal: U.S. companies spun off from a parent within the last four years, each with at least $1 billion in float-adjusted market cap.spglobal.com
  • Fresh spin-offs get picked up at the monthly rebalance and every name ages out after four years, so the basket keeps turning over instead of going stale.spglobal.comspglobal.com 2
  • 0.65% a year (0.66% gross, net of a waiver through August 31, 2028), near the middle of its eight-fund category, where First Trust's FPX charges 0.57% with no waiver.
  • Live since December 2006 and still running the same spin-off mandate, it sits among the stronger builds in its small peer group.

Worth knowing

  • About 30 holdings, so one company's news can move the whole fund. This is a concentrated slice, not a core holding.
  • One of the lighter-traded funds in its category, which can mean wider gaps between what buyers bid and sellers ask.
  • Income is an afterthought here: distributions land once or twice a year, and the index is built around corporate events, not yield.spglobal.com

CSD Holdings

Holdings pillarD33 out of 100Rank 7 of 7 in IPO & Spin-Off
Asset class
Stocks
Holdings
32
Top-10 weight
63%
Largest holding
GEHC9.8%

Sectors

  • Industrials39.7%
  • Technology20.7%
  • Health Care14.4%
  • Financials7.6%
  • Materials6.2%
  • Communication4.6%
  • Real Estate3.4%
  • Consumer Discretionary3.3%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 3.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1GEHCGE HealthCare Technologies Inc9.85%243,603$20.1M308
2HONAHoneywell Aerospace Inc7.72%102,919$15.7M295
3VYLRVylor Inc7.43%215,835$15.1M248
4QQnity Electronics Inc6.97%121,445$14.2M250
5GEVGE Vernova Inc6.00%15,800$12.2M485
6VLTOVeralto Corp5.67%98,739$11.6M311
7FDXFFedex Freight Holding Co Inc5.05%83,295$10.3M221
8SOLVSolventum Corp4.88%110,064$9.95M214
9CRCrane Co4.58%46,437$9.34M156
10SOLSSolstice Advanced Materials Inc4.46%156,599$9.08M149
11SNDKSandisk Corp3.81%9,308$7.77M469
12RALRalliant Corp3.73%112,366$7.6M137
13MBGLMobility Global Inc2.89%299,419$5.88M135
14LLYVKLiberty Live Holdings Inc2.57%49,322$5.24M68
15UHALBU-Haul Holding Co2.49%101,404$5.08M54

Showing 1–15 of 32 holdings

CSD Performance

Launched Dec 15, 2006

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

CSD$13,461
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,339
Nov 7, 2025 to Nov 9, 2026. CSD $13,461. SPY $11,339. Use the arrow keys to read each point.$10,000$12,000$14,000Nov 2025May 2026Nov 2026

Nov 7, 2025 – Nov 9, 2026

Returns run to the Nov 9, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for CSD. Periods over one year show the average yearly return.
PeriodCSD
Year to date+30.4%
1 month+0.9%
3 months−3.1%
1 year+34.6%
3 yearsper year+33.1%
5 yearsper year+15.3%
10 yearsper year+12.7%

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for CSD
YearReturn barCSD
2026 YTD+30.4%
2025+21.6%
2024+27.6%
2023+23.8%
2022−15.0%
2021+13.0%
2020+10.8%

CSD in the news

Filtered to CSD · IPO & Spin-Off · Invesco

CSD Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Nov 9, 2026.
0.12%Last 12 months
Payout per share
$0.16Last 12 months
Last payment
$0.16 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2017–2026

One bar per payment. 9 payments from 2017 to 2026 YTD. Dec 26, 2017 $0.31; Dec 24, 2018 $0.42; Dec 23, 2019 $0.55; Dec 21, 2020 $0.55; Dec 20, 2021 $0.45; Dec 19, 2022 $0.45; Dec 18, 2023 $0.33; Dec 23, 2024 $0.14; Dec 22, 2025 $0.16. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Dec 22, 2025Dec 26, 2025$0.16
Dec 23, 2024Dec 27, 2024$0.14
Dec 18, 2023Dec 22, 2023$0.33
Dec 19, 2022Dec 23, 2022$0.45
Dec 20, 2021Dec 31, 2021$0.45
Dec 21, 2020Dec 31, 2020$0.55
Dec 23, 2019Dec 31, 2019$0.55
Dec 24, 2018Dec 31, 2018$0.42
Dec 26, 2017Dec 29, 2017$0.31
Dec 23, 2016Dec 30, 2016$0.70
Dec 24, 2015Dec 31, 2015$1.00
Dec 24, 2014Dec 31, 2014$0.74

See all 19 payments⁠

$10,000 in CSD 10 years ago paid $948 in dividends.⁠

CSD Risk

Risk pillarB64 out of 100Rank 3 of 8 in IPO & Spin-Off
How much the fund’s monthly returns vary, scaled to a year.
21.8%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.25
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−30.1%
Trough Apr 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.15
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

CSD Cost

Compare CSD and FPX

Overpaying vs FPX, cheapest in IPO & Spin-Off

$1,446

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • CSD 0.65%

    $12,717

  • FPX 0.57% Cheapest

    $11,271

$10,000
30 years

Cost over time

  • CSD 0.65%
  • FPX 0.57%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530CSD $12,717FPX $11,271

Year by year

YearCSDFPXOverpaying
10$1,163$1,023$140
20$4,440$3,921$519
30$12,717$11,271$1,446
How the 0.65% is worked out

Full fee 0.66%− waiver 0.01%= you pay 0.65%

The waiver ends Aug 31, 2028. After that the fee is 0.66% unless Invesco renews it. Source: prospectus, Aug 2026.

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