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.
Fund Basics
| Fund sponsor | Redwood Investment Management |
| Category | US Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Oct 01, 2018 |
| Assets (mns) | $159 |
| 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
| BUILDERS FIRSTSOURCE INC | 1.3 % |
| PULTE HOMES INC | 1.2 % |
| OWENS CORNING | 1.2 % |
| KLA-TENCOR CORPORATION | 1.2 % |
| EAGLE MATERIALS INC | 1.1 % |
| ALLISON TRANSMISSION HOLDING | 1.1 % |
| CHEMOURS CO. | 1.1 % |
| KBR INC | 1.1 % |
| CARDINAL HEALTH INC | 1.1 % |
| NEWMARKET CORP | 1.1 % |
Constituent Breakdown
| Number of holdings | 100 |
| Herfindahl-Hirschman Index | 98 |
| Wgt avg mkt cap (mns) | $35,861 |
| Large cap (>$10bn) | 68.1% |
| Mid cap ($2-10bn) | 31.9% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 98.7 % |
Historical Performance
Standardized Annual Returns (as of 05/31/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| -3.7% | -7.1% | -5.4% | 8.5% | -- | -- | 5.8% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.95 | 81% |
| MSCI EAFE | 0.90 | 74% |
| MSCI Emg Mkts | 0.59 | 32% |
Liquidity Measures
| Avg. volume (000) | 13 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.20% |
| ADV of underlying (mns) | $13,886 |
Technical Indicators
| Recent close | $30.60 |
| 30d moving avg. | $29.81 |
| Annualized volatility | 19.1% |
| Relative strength (RSI) | 53 |
| Short interest (ETF) | 0.0% |
| 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 | 37.3% | -63 bp | -0.2% |
| SYLD | Cambria Shareholder Yield ETF | 31.2% | -16 bp | +3.0% |
| COWZ | Pacer US Cash Cows 100 ETF | 29.9% | -26 bp | +1.8% |
| PKW | Invesco Buyback Achievers ETF | 29.3% | -11 bp | +0.2% |
| DBLV | AdvisorShares DoubleLine Value Equity ETF | 29.3% | +16 bp | +1.1% |
| SPVM | Invesco S&P 500 Value with Momentum ETF | 25.4% | -36 bp | +0.6% |
| ONEO | SPDR Russell 1000 Momentum Focus ETF | 23.9% | -55 bp | -0.7% |
| VAMO | Cambria Value & Momentum ETF | 22.4% | -11 bp | +2.5% |
| DEUS | Xtrackers Russell 1000 Comprehensive Factor ETF | 21.9% | -58 bp | -1.0% |
| AVLV | Avantis U.S. Large Cap Value ETF | 21.1% | -60 bp | -0.5% |
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
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023E | 2024E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2022 | 2023E | Fwd Est | 2024E | |
| 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 6/7/2023
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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 Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
LSAF
8.8%
Cat. Avg
6.1%
Fund Category: US Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 8.8% |
Recommendation
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
Category Overview
There are 899 funds in the US Equities category, with an average ALTAR Score™
of 6.1% and a standard deviation of
3.0%. LSAF's ALTAR Score™ is approximately
0.9 standard deviations
above
the category average. This places LSAF in the 81st percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
LSAF
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
| Update |
Today's Trading
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Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| LSAF | 75.0 | 19.8 | 94.8 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .