Invesco S&P Spin-Off ETF
CSD
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- Invesco S&P Spin-Off ETF (CSD) is an exchange-traded fund that seeks to track the performance, before fees and expenses, of the S&P U.S. Spin-Off Index, investing at least 90% of its total assets in securities and depositary receipts comprising the index; the index consists of U.S.-domiciled companies spun off from parent corporations within the past four years with float-adjusted market capitalizations of at least $1 billion, rebalanced monthly using gross total return methodology that includes dividends. The fund provides exposure primarily to mid- and small-cap equities across sectors such as industrials (approximately 40%), information technology (17%), and health care (15%), with top holdings including Sandisk Corp, Constellation Energy Corp, Veralto Corp, GE HealthCare Technologies Inc, and GE Vernova Inc; it distributes ordinary income dividends quarterly, with the most recent ex-date on December 23, 2024, at $0.13729 per share. Launched on December 15, 2006, and listed on NYSE Arca with ticker CSD and CUSIP 46137V159, the ETF is managed by Invesco Capital Management LLC, headquartered in Atlanta, Georgia, and operates exclusively with U.S. geographic exposure targeting institutional and retail investors seeking spin-off equity strategies. The fund underwent a significant reorganization on April 6, 2018, transitioning from its Guggenheim predecessor (formerly Claymore/Beacon Spin-Off ETF) to Invesco, with performance history reflecting the prior entity's results; the underlying index shifted from the Beacon Spin-Off Index to the S&P U.S. Spin-Off Index effective May 20, 2016. Recent portfolio adjustments within the last two years include major share changes in January 2025, such as additions to holdings like GE Vernova Inc, Consensus Cloud Solutions Inc, and GE HealthCare Technologies Inc, alongside reductions in positions like Solventum Corp, RXO Inc, and Kyndryl Holdings Inc; further updates in 2025 encompassed new inclusions such as Ralliant Corp and Everus Construction Group Inc, alongside exits from names like GXO Logistics Inc and Victoria's Secret & Co, driven by monthly index rebalancing. The ETF maintains a total expense ratio of 0.67%, with a management fee of 0.50%, and as of late 2025 holds approximately 27 securities with assets under management around $74 million.