Skip to content
etf.net

Launched

LeaderSharesTM AlphaFactor US Core Equity ETF

LSAFNYSE ArcaLeader SharesC

$57.21−0.58 (−1.01%)

As of Nov 10, 2026, 10:53 AM ET

C44/ 100

Rank 75 of 99 in US Multifactor

C44/100Rank 75 of 99inUS Multifactor
Intraday session: down, 18 prints from 57.79 to 57.21. Range 57.21 to 57.45. Use the arrow keys to read each point.57.3057.4057.5057.6057.7010 AM12 PM2 PM4 PM
Expense ratio
0.75%
Fund size
$132M
1Y total return
+31.1%
Yield · Last 12 months
0.53%
Holdings
102
Avg volume · 30D
7.8K sh
52W range
low $42.47high $58.95
Launched

The ETF.net LSAF Grade

C

Score 44 out of 100

Category
US Multifactor⁠
Rank
75 of 99
Six-pillar profile for LSAF. Scores out of 100: Cost 2, Risk 67, Mission 87, Tradability 32, Holdings 57, Durability 37. Strongest: Mission (87). Weakest: Cost (2). Leans toward Mission.

Score 44 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F2 out of 100
    Rank 97 of 99

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A87 out of 100
    Rank 37 of 87

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B67 out of 100
    Rank 22 of 99

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D32 out of 100
    Rank 76 of 99

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B57 out of 100
    Rank 47 of 98

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D37 out of 100
    Rank 76 of 99

Our read on LSAF

ETF.net Research

In short

CA boutique multifactor take on US core equity: LSAF ranks American stocks with a published rulebook and has run live since 2018. The trade-off is price, at 0.75% in a corner of the market where the index giants charge pennies.

Stated mandate

The fund seeks to track the AlphaFactor US Core Equity Index before fees and expenses.

Why people hold it

  • Rules-based, not discretionary: a published multifactor ranking process selects the US stocks, inside a plain 1940 Act ETF wrapper.
  • Live since 2018, so the record covers real drawdowns and recoveries rather than a backtest.
  • Simple mandate to keep tabs on: US only, equity only, one index, one ticker.
  • Risk behavior is the stronger side of its profile relative to the multifactor group, even where cost lags.

Worth knowing

  • At 0.75% a year, it costs multiples of the category's heavyweights (VYM at 0.04%, FNDX at 0.25%), a gap you pay whatever the market does.
  • Thinly traded, so the spread on a single order can matter more to your cost than the headline fee.
  • Distributions arrive annually or semiannually, not monthly or quarterly.

LSAF Performance

Launched Oct 1, 2018

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.
LSAF$13,110
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,339
Nov 7, 2025 to Nov 9, 2026. LSAF $13,110. SPY $11,339. Use the arrow keys to read each point.$10,000$11,000$12,000$13,000Nov 2025May 2026Nov 2026

Nov 7, 2025 – Nov 9, 2026

Returns run to the Nov 9, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for LSAF. Periods over one year show the average yearly return.
PeriodLSAF
Year to date+28.2%
1 month+5.7%
3 months+3.0%
1 year+31.1%
3 yearsper year+23.3%
5 yearsper year+11.5%
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for LSAF
YearReturn barLSAF
2026 YTD+28.2%
2025+12.0%
2024+18.1%
2023+15.5%
2022−13.1%
2021+22.8%
2020+6.9%

LSAF in the news

LSAF Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Nov 9, 2026.
0.53%Last 12 months
Payout per share
$0.31Last 12 months
Last payment
$0.31 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2018–2026

One bar per payment. 20 payments from 2018 to 2026 YTD. Dec 27, 2018 $0.04; Mar 28, 2019 $0.05; Jun 25, 2019 $0.04; Sep 25, 2019 $0.04; Dec 20, 2019 $0.06; Mar 25, 2020 $0.04; Jun 25, 2020 $0.05; Sep 25, 2020 $0.03; Dec 21, 2020 $0.03; Mar 25, 2021 $0.02; Jun 25, 2021 $0.03; Sep 24, 2021 $0.02; Dec 21, 2021 $0.06; Mar 24, 2022 $0.05; Jun 23, 2022 $0.07; Sep 23, 2022 $0.07; Dec 21, 2022 $0.10; Dec 20, 2023 $0.29; Dec 20, 2024 $0.17; Dec 17, 2025 $0.31. Use the arrow keys to read each point.201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Dec 17, 2025Dec 24, 2025$0.31
Dec 20, 2024Dec 26, 2024$0.17
Dec 20, 2023Dec 26, 2023$0.29
Dec 21, 2022Dec 28, 2022$0.10
Sep 23, 2022Sep 30, 2022$0.07
Jun 23, 2022Jun 30, 2022$0.07
Mar 24, 2022Mar 31, 2022$0.05
Dec 21, 2021Dec 28, 2021$0.06
Sep 24, 2021Sep 30, 2021$0.02
Jun 25, 2021Jul 1, 2021$0.03
Mar 25, 2021Mar 31, 2021$0.02
Dec 21, 2020Dec 28, 2020$0.03

See all 20 payments⁠

$10,000 in LSAF 5 years ago paid $322 in dividends.⁠

LSAF Risk

Risk pillarB67 out of 100Rank 22 of 99 in US Multifactor
How much the fund’s monthly returns vary, scaled to a year.
14.2%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.28
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−24.9%
Trough Sep 2022
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.94
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

LSAF Cost

Compare LSAF and VYM

Overpaying vs VYM, tied cheapest in US Multifactor

$13,633

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

  • LSAF 0.75%

    $14,482

  • VYM 0.04% Tied cheapest

    $849

$10,000
30 years

Cost over time

  • LSAF 0.75%
  • VYM 0.04%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530LSAF $14,482VYM $849

Year by year

YearLSAFVYMOverpaying
10$1,336$73$1,263
20$5,078$288$4,790
30$14,482$849$13,633

Other funds in US Multifactor

See others