{"url":"https://etfiq.com/compare/alternatives/csm-vs-orr","section":"compare","title":"CSM vs ORR: Correlation to the S&P 500 | ETFIQ","description":"CSM and ORR both run long-short equity strategies. Over the year to Nov 5, 2026, CSM had a correlation of +0.98 with the S&P 500 and ORR +0.36.","as_of":"Nov 5, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which moved less with the S&P 500, CSM or ORR?","acceptedAnswer":{"@type":"Answer","text":"Over the 52 weeks to Nov 5, 2026, CSM\u2019s weekly returns had a correlation of +0.98 with the S&P 500 and ORR\u2019s +0.36, so ORR moved less with the index."}},{"@type":"Question","name":"Which did better when the S&P 500 fell, CSM or ORR?","acceptedAnswer":{"@type":"Answer","text":"In the 20 weeks the S&P 500 fell, by 1.61% a week on average, CSM averaged \u22121.51% and ORR \u22120.68%, so ORR returned more in those weeks."}},{"@type":"Question","name":"Which earned more than cash, CSM or ORR?","acceptedAnswer":{"@type":"Answer","text":"Over the same weeks, CSM finished 7.0 percentage points ahead of cash and ORR finished 17.2 percentage points ahead of cash. Cash here is BIL, a fund of Treasury bills."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Alternatives ETFs","item":"https://etfiq.com/alternatives/"},{"@type":"ListItem","position":3,"name":"Compare ETFs","item":"https://etfiq.com/compare/"},{"@type":"ListItem","position":4,"name":"CSM vs ORR","item":"https://etfiq.com/compare/alternatives/csm-vs-orr"}]},{"@type":"WebPage","name":"CSM vs ORR: Correlation to the S&P 500","description":"CSM and ORR both run long-short equity strategies. Over the year to Nov 5, 2026, CSM had a correlation of +0.98 with the S&P 500 and ORR +0.36.","url":"https://etfiq.com/compare/alternatives/csm-vs-orr","dateModified":"2026-11-05","abstract":"Over the year to Nov 5, 2026, ORR moved less with the S&P 500 than CSM: correlation +0.36 against +0.98.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of CSM and ORR","description":"CSM and ORR both run long-short equity strategies. Over the year to Nov 5, 2026, CSM had a correlation of +0.98 with the S&P 500 and ORR +0.36.","dateModified":"2026-11-05","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/alternatives/csm-vs-orr","license":"https://etfiq.com/license/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/alternatives.json"}],"variableMeasured":["Correlation with the S&P 500","Beta to the S&P 500","Down-week capture","Average week when the S&P 500 fell","Return against T-bills","Total return","Strategy","Expense ratio"],"keywords":["exchange-traded funds","ETF","Alternatives ETFs","fund data","SEC filings"]}],"characters":6326,"truncated":true,"content":"ETFIQ / Alternatives ETFs / Compare ETFs / CSM vs ORR \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Nov 5, 2026 .\n\n CSM vs ORR: Correlation to the S&P 500\n\n Over the year to Nov 5, 2026, ORR moved less with the S&P 500 than CSM: correlation +0.36 against +0.98.\n Copy this for sharing \n \n Their one-year returns differ by 11.5 points.\n CSM and ORR at a glance. As of Nov 5, 2026. Source: ETFIQ. CSM ORR \n Expense ratio 0.45% not published \n Net assets, CSM as of Nov 5, 2026 and ORR as of Aug 31, 2026 $499m $355m \n Total return, 1 year +9.2% +20.7% \n Holdings in common not published \n \n Ne","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","license_text":"Data ETFIQ computes is free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, CSM against ORR, data as of Nov 5, 2026. https://etfiq.com/compare/alternatives/csm-vs-orr","a":{"ticker":"CSM","name":"ProShares Large Cap Core Plus","issuer":"ProShares","desk":"alternatives","as_of":"2026-11-05","verdict":"Over the year to Nov 5, 2026, CSM returned 9.2%, against 9.4% for IVV.","url":"https://etfiq.com/funds/csm","key_facts":[{"label":"Correlation with the S&P 500","value":"+0.98","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Beta to the S&P 500","value":"+0.95","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Down-week capture","value":"93.9%","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Against T-bills, 52 weeks","value":"+7.0 pts","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"12-month yield, capital gains included, on its starting price","value":"1.2%","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices and distributions"},{"label":"Last payment (paid quarterly), ex-date Sep 23, 2026","value":"$0.2124","as_of":"2026-09-23","source":"Tiingo end-of-day distributions"},{"label":"Net assets","value":"$499m","as_of":"2026-11-05","source":"issuer page, as of Nov 5, 2026"},{"label":"Expense ratio","value":"0.45%","as_of":"2026-09-25","source":"485BPOS XBRL, Sep 25, 2026"}]},"b":{"ticker":"ORR","name":"Militia Long/Short Equity ETF","issuer":"Militia","desk":"alternatives","as_of":"2026-11-05","verdict":"Over the year to Nov 5, 2026, ORR returned 20.7%. When the S&P 500 fell, it fell 42% as much.","url":"https://etfiq.com/funds/orr","key_facts":[{"label":"Correlation with the S&P 500","value":"+0.36","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Beta to the S&P 500","value":"+0.41","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Down-week capture","value":"42.0%","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Against T-bills, 52 weeks","value":"+17.2 pts","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Net assets","value":"$355m","as_of":"2026-08-31","source":"SEC N-PORT, whole fund, as filed for Aug 31, 2026"},{"label":"Strategy","value":"Long-short equity","as_of":"2026-11-05","source":"ETFIQ, from its prospectus"}]},"overlap_pct":null,"overlap_note":"ETFIQ does not publish a holdings overlap for this pair. Either the funds are not compared on holdings, or one book is incomplete.","full_text_at":"https://etfiq.com/compare/alternatives/csm-vs-orr"}