LSAF vs SPY
LSAF vs SPY
LeaderShares AlphaFactor US Core Equity ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. LSAF delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | LSAF | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.75% | 0.09% | |
| AUM | $123M | $789.1B | |
| Dividend Yield | 0.60% | 1.01% | |
| Holdings | 102 | 505 | |
| YTD Return | +23.11% | +13.79% | |
| 1Y Return | +33.53% | +23.66% | |
| 3Y Return (annualized) | +20.14% | +21.40% | |
| 5Y Return (annualized) | +11.64% | +13.37% | |
| Volatility (annualized) | 19.3% | 15.3% | |
| Max Drawdown | -41.7% | -56.5% | |
| Fund Family | LeaderShares | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Oct 1, 2018 | Jan 22, 1993 |
LSAF vs SPY Performance
LeaderShares AlphaFactor US Core Equity ETF (LSAF) is a ETF from LeaderShares and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year LSAF returned +33.53% while SPY returned +23.66%. Year to date, LSAF is up 23.11% versus a gain of 13.79% for SPY.
Over three years, LSAF compounded at +20.14% per year against +21.40% for SPY; over five years the annualized figures are +11.64% and +13.37% respectively. Across the full 8-year window we track, LSAF has the edge at +11.51% annualized vs +8.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
LSAF has been the more volatile fund, with annualized monthly volatility of 19.3% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -41.7% for LSAF and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.90. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
LSAF charges 0.75% per year while SPY charges 0.09%. On a $10,000 position that is $75 vs $9 annually, a gap of $66 per year that compounds over a long holding period. On income, LSAF currently yields 0.60% against 1.01% for SPY.
Holdings Overlap
LSAF and SPY share 51 holdings out of 552 unique holdings combined, representing a 4.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in LSAF | Weight in SPY | Difference |
|---|---|---|---|
| WDC | 1.74% | 0.31% | 1.43% |
| ON | 1.79% | 0.06% | 1.73% |
| DELL | 1.44% | 0.18% | 1.26% |
| C | Pro | Pro | Pro |
| PLTR | Pro | Pro | Pro |
| EBAY | Pro | Pro | Pro |
| FFIV | Pro | Pro | Pro |
| JBHT | Pro | Pro | Pro |
| WST | Pro | Pro | Pro |
| COF | Pro | Pro | Pro |
See all 10 holdings LSAF shares with SPY Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, LSAF or SPY?
LSAF has an expense ratio of 0.75% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $66 per year of difference.
Which performed better, LSAF or SPY?
Over the past year LSAF returned +33.53% vs +23.66% for SPY, so LSAF leads on 1-year performance. Over the longest common window we track (8 years), LSAF annualized +11.51% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, LSAF or SPY?
LSAF has been the more volatile fund at 19.3% annualized versus 15.3% for SPY. Worst drawdown: LSAF -41.7% vs SPY -56.5%.
Should I hold both LSAF and SPY?
LSAF and SPY have a monthly-return correlation of 0.90, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between LSAF and SPY?
LSAF and SPY share 51 common holdings with a 4.2% weight overlap. Combined, they hold 552 unique securities.
Which pays a higher dividend, LSAF or SPY?
LSAF yields 0.60% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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