LSAF
LeaderShares AlphaFactor US Core Equity ETF
The LeaderShares AlphaFactor US Core Equity ETF tracks an equal-weighted index of US stocks selected by multiple fundamental factors.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
144.6 M
ASSETS UNDER MGMT
75 bp
EXPENSES
Fund Basics
| Fund sponsor | Redwood Investment Management |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Oct 01, 2018 |
| Assets (mns) | $145 |
| Expense ratio | 75 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Fundamental |
| Weighting | Equal |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| TOLL BROTHERS INC | 1.2 % |
| UNITED RENTALS INC | 1.1 % |
| LENNAR CORP-CL A | 1.1 % |
| PULTE HOMES INC | 1.1 % |
| ALLISON TRANSMISSION HOLDING | 1.1 % |
| MASCO CORP | 1.1 % |
| MGIC INVESTMENT CORP | 1.1 % |
| ARMSTRONG WORLD INDUSTRIES | 1.1 % |
| UNIVERSAL HEALTH SERVICES-B | 1.1 % |
| TENET HEALTHCARE CORP | 1.1 % |
Constituent Breakdown
| Number of holdings | 101 |
| Herfindahl-Hirschman Index | 99 |
| Wgt avg mkt cap (mns) | $119,792 |
| Large cap (>$10bn) | 85.8% |
| Mid cap ($2-10bn) | 14.2% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 96.8 % |
Historical Performance
Standardized Performance (as of 08/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 10.5% | 17.4% | 14.8% | 4.4% | 10.0% | -- | 9.7% | Volatility | 12.0% | 12.6% | 18.3% | 19.1% | 23.8% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.99 | 81% |
| MSCI EAFE | 0.98 | 75% |
| MSCI Emg Mkts | 0.69 | 35% |
Liquidity Measures
| Avg. volume (000) | 14 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.18% |
| ADV of underlying (mns) | $32,543 |
Technical Indicators
| Recent close | $38.30 |
| 30d moving avg. | $38.99 |
| Annualized volatility | 19.8% |
| Relative strength (RSI) | 52 |
| Short interest (ETF) | 0.1% |
| Short interest (underlying) | 2.5% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. LSAF |
Expenses vs. LSAF |
ALTAR Score™ vs. LSAF |
|---|---|---|---|---|
| WTV | WisdomTree US Value Fund of Benef Interest | 29.2% | -63 bp | +2.2% |
| SURE | AdvisorShares Insiders Advantage ETF | 29.1% | +15 bp | +3.1% |
| PKW | Invesco Buyback Achievers ETF | 26.6% | -13 bp | -0.3% |
| ROE | Astoria US Quality Kings ETF | 24.0% | -26 bp | +0.6% |
| VFMF | Vanguard U.S. Multifactor ETF | 23.5% | -57 bp | +1.7% |
| SPVM | Invesco S&P 500 Value with Momentum ETF | 22.7% | -36 bp | +1.1% |
| SYLD | Cambria Shareholder Yield ETF | 22.3% | -16 bp | +4.5% |
| SEIV | SEI Enhanced U.S. Large Cap Value Factor ETF | 22.0% | -60 bp | +2.6% |
| ULVM | VictoryShares US Value Momentum ETF | 21.8% | -55 bp | +0.2% |
| AVLV | Avantis U.S. Large Cap Value ETF | 21.4% | -60 bp | +0.3% |
Risk and Returns: LSAF vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 9/6/2024
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
LSAF
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
ALTAR Score™
LSAF
7.4%
Cat. Avg
5.8%
ALTAR Score™ Calculation
Category Overview
There are 920 funds in the US Equity category, with an average ALTAR Score™
of 5.8% and a standard deviation of
2.5%. LSAF's ALTAR Score™ is approximately
0.6 standard deviations
above
the category average. This places LSAF in the 73rd percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
LSAFSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| LSAF (75 bp) Percentile rank | 81 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| LSAF | 75.0 | 17.8 | 92.8 |
| Peer Avg. | 30.0 | 13.8 | 43.8 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .