Multiple clinical trials have assessed de-escalation strategies from combined modality therapy (CMT) to chemotherapy-alone for treatment of early-stage classical Hodgkin lymphoma (cHL) confirming similar outcomes, but the application of these data to the real-world is limited. We conducted a retrospective, multi-center cohort study comparing CMT to chemotherapy-alone in patients with early-stage cHL (stage IA-IIB) treated between January 2010 to December 2020. Positron emission tomography (PET) scans after chemotherapy cycle 2 (PET2) were independently reviewed by a nuclear radiologist (Deauville score ≥4: positive, ≤3: negative). Patient outcomes were compared using intention-to-treat analysis. Among 125 patients (CMT: n=63, chemotherapy-alone: n=62) with a median follow-up of 59.8 months (95% CI, 48.6 to 71.0), no overall survival (OS) differences were observed (5-year OS: CMT 98.0% vs chemotherapy-alone 95.1%, log-rank p=0.38). However, there was reduced progression-free survival (PFS) with chemotherapy-alone among all patients (2-year PFS: CMT 95.1% vs chemotherapy-alone 75.3%, log-rank p=0.005), and in those with bulky (n=43, log-rank p<0.001), unfavorable (n=81, log-rank p=0.002), or PET2-positive disease (n=15, log-rank p=0.02). No significant PFS differences were seen for patients with non-bulky (log-rank p=0.35), favorable (log-rank p=0.62), or PET2-negative (log-rank p=0.19) disease. Based on our real-world experience, CMT appears beneficial for patients with early-stage cHL, especially those with PET2-positive, and unfavorable disease. Chemotherapy-alone regimens can lead to comparable outcomes for patients with favorable, non-bulky, or PET2-negative disease. We conclude that while results seen in clinical trials are replicated in certain patient subgroups, other subgroups not fitting trial criteria do poorly when radiotherapy is excluded.