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CSD vs SPCK

Invesco S&P Spin-Off ETF

CSDBNYSE Arca

SPAC and New Issue ETF

SPCKDNasdaq

Overlap

0.0%by weight

Expense ratio

CSD −1.66pt a year

CSD0.65%SPCK2.31%

Avg volume · 30D

CSD 1.7×the volume

CSD11.4KSPCK6.51K

5Y return · a year

CSD +16.6pt

CSD+14.8%SPCK−1.8%

CSD vs SPCK Performance

Oct 29, 2021 – Oct 30, 2026

+99.2%CSD−8.8%SPCK

Oct 29, 2021 to Oct 30, 2026. CSD +99.2%. SPCK −8.8%. Use the arrow keys to read each point.25%50%75%125%Oct 2021Apr 2024Oct 2026
Expense ratio
CSD 0.65%, better
SPCK 2.31%
Fund size
CSD $206M
SPCK $8M
1Y total return
CSD +31.3%, better
SPCK −2.6%
Yield (12M)
CSD 0.13%
SPCK 16.61%, better
Holdings
CSD 32
SPCK 46
Avg volume (30D)
CSD 11.4K sh, better
SPCK 6.51K sh
NAV per share
CSD $126.57
SPCK $21.53
52W range

ETF.net Grade

CSD: Cost 64, Risk 63, Mission not scored, Tradability 69, Holdings 33, Durability 81. SPCK: Cost 7, Risk 55, Mission not scored, Tradability 48, Holdings 65, Durability 36.
Pillar letters and Scores for CSD, SPCK, with each pillar’s weight
PillarCSDSPCK
Cost30% weightB64HigherF7
Mission25% weightNot scoredNot scored
Risk15% weightB63HigherB55
Tradability15% weightB69HigherC48
Holdings10% weightD33B65Higher
Durability5% weightA81HigherD36

Rank among IPO & Spin-Off funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. CSD and SPCK are both graded against the same 8 IPO & Spin-Off funds, so their Grades compare head to head.

IPO & Spin-Off⁠

Category · 8 funds
See all 8 ›

CSD ranks 2nd and SPCK 7th of 8 funds in the IPO & Spin-Off Category.

  1. Rank 1AFPXFirst Trust US Equity Opportunities ETFScore 78
  2. Rank 2BCSDInvesco S&P Spin-Off ETFScore 61
  3. Rank 3BIPORenaissance IPO ETFScore 59
  4. Rank 6DSPAQHorizon Kinetics SPAC Active ETFScore 36
  5. Rank 7DSPCKSPAC and New Issue ETFScore 34
  6. Rank 8DIPOSRenaissance International IPO ETFScore 28

Our read on each fund

ETF.net Research

CSDBInvesco S&P Spin-Off ETF

SPCKDSPAC and New Issue ETF

In short

CSD Most 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.

SPCK The active one in a passive corner: SPCK's manager hand-picks pre-deal SPACs and companies that listed in the past two years. Trading since December 2020, at 2.31% a year with no waiver, above its index peers.

Stated mandate

CSD 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.

SPCK The Fund seeks total return. It is actively managed and invests at least 80% of assets in qualifying SPACs and companies that completed an IPO within the prior two years; it may also use swaps and hold cash or short-term debt for liquidity.

Why people hold it

  • CSD 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.
  • SPCK Actively managed: a person picks which SPACs and recent IPOs to own and how big each gets, while peers FPX, IPO and CSD follow fixed index rules.
  • One ticker covers both halves of the new-issue market: qualifying SPACs plus companies that listed within the prior two years, around 50 names.
  • Trading since December 2020, so there is a multi-year live record to look at rather than a backtest.

Worth knowing

  • CSD 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
  • SPCK Cost is the trade-off: 2.31% a year, no waiver, next to FPX at 0.57%, IPO at 0.60% and CSD at 0.65% net of a waiver through August 31, 2028.
  • The holdings are unseasoned by definition, pre-deal SPACs and brand-new listings, and the fund itself is small and thinly traded.
  • Same fund, new symbol: the ticker moved from SPCX to SPCK on April 7, 2026, with no change to objective or strategy.sec.gov

Full CSD profile⁠

Full SPCK profile⁠

CSD vs SPCK Holdings

How CSD and SPCK differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of CSD and 0.0% of SPCK.

Level by level

  • Holdings0 in both0.0%
  • Sector9 Sectors10.5%
  • Countryby domicile88.1%
  • Asset classEquity100%

Sector

Sector weights in CSD and SPCK, widest gap first
SectorMore in CSDMore in SPCK
FinancialsSPCK +89.4 points
IndustrialsCSD +39.3 points
TechnologyCSD +18.9 points
Health CareCSD +14.3 points
MaterialsCSD +6.2 points
CommunicationCSD +4.4 points
Real EstateCSD +3.3 points
Consumer DiscretionaryCSD +3.1 points
UtilitiesSPCK +0.2 points

Country, concentration and asset class

Country by domicile

Country weights in CSD and SPCK, widest gap first
CountryMore in CSDMore in SPCK
United StatesCSD +11.9 points
Cayman IslandsSPCK +5.5 points
MexicoSPCK +3.2 points
FranceSPCK +2.6 points
TaiwanSPCK +0.7 points

Concentration

Weight in the 10 largest Holdings

  • CSD62.4%
  • SPCK39.1%

Securities held

  • CSD31
  • SPCK45

Asset class

CSD
Equity
SPCK
Equity

Holdings

  • Only in CSD31
  • In both0
  • Only in SPCK45

Only in CSD

31 securities, 100% of CSD by weight

  • GE HealthCare Technologies Inc8.87%
  • Honeywell Aerospace Inc7.85%
  • Vylor Inc7.48%

Only in SPCK

45 securities, 94.9% of SPCK by weight

  • Cohen Circle Acquisition Corp4.80%
  • FG Imperii Acquisition Corp4.33%
  • Cantor Equity Partners Vi4.03%

Weight gaps

CSD and SPCK share no securities.

All 31 CSD holdings⁠All 49 SPCK holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

CSD vs SPCK Cost

Overpaying SPCK vs CSD

$23,855

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

  • CSD 0.65%

    $12,717

  • SPCK 2.31%

    $36,572

$10,000
30 years

Cost over time

  • CSD 0.65%
  • SPCK 2.31%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K$40K051015202530SPCK $36,572CSD $12,717

Year by year

YearCSDSPCKOverpaying
10$1,163$3,857$2,694
20$4,440$13,687$9,247
30$12,717$36,572$23,855

Expense ratio

  • 0.65%CSD, cheaper
  • 2.31%SPCK
  • Middle half of IPO & Spin-Off funds
  • Median 0.70%

CSD 3rd cheapest of 8 funds

SPCK 8th cheapest of 8 funds

CSD vs SPCK Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
CSD 0.13%
SPCK 16.61%, better
Payout (12M)
CSD $0.16
SPCK $3.59
Last payment
CSD $0.16
SPCK $0.49
Ex-dividend
CSD Dec 22, 2025
SPCK Dec 24, 2025
Paid on
CSD Dec 26, 2025
SPCK Dec 26, 2025
Frequency
CSD Annual
SPCK Irregular

Distribution history

Per share, 2017 to 2026, same scale for both

CSDAnnual · 9 paymentsAll CSD payments⁠
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.$0$2.502017202020232026YTD
SPCKIrregular · 6 paymentsAll SPCK payments⁠
One bar per payment. 6 payments from 2017 to 2026 YTD. Dec 27, 2021 $0.36; Dec 19, 2023 $0.52; Dec 17, 2024 $0.14; Dec 27, 2024 $0.02; Dec 16, 2025 $3.11; Dec 24, 2025 $0.49. Use the arrow keys to read each point.$0$2.502017202020232026YTD

CSD vs SPCK Risk

Fall from peak · 5 years

  • CSD
  • SPCK
Oct 29, 2021 to Oct 30, 2026. Worst fall: CSD −30.1% · Apr 2025. Use the arrow keys to read each point.−25%−20%−15%−10%−5%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
CSD 21.8%SPCK 5.9%, better
Return per unit of riskSharpe ratio, 3 years
CSD 1.25, betterSPCK −0.16
Worst fallMax drawdown, 5 years
CSD −30.1%SPCK −19.9%, better
Market sensitivityBeta, 5 years
CSD 1.13SPCK 0.11

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