AFMC vs. LSAF

Last updated Aug 2, 2026

AFMC (First Trust Active Factor Mid Cap ETF) and LSAF (LeaderShares AlphaFactor US Core Equity ETF) are both Mid Cap Blend Equities funds. AFMC is actively managed, while LSAF is passively managed. Over the past 5 years, AFMC returned 10.83%/yr vs 10.90%/yr for LSAF. Their correlation of 0.90 means they have usually moved in the same direction. AFMC charges 0.65%/yr vs 0.75%/yr for LSAF.

Performance

AFMC vs. LSAF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Active Factor Mid Cap ETF (AFMC) and LeaderShares AlphaFactor US Core Equity ETF (LSAF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AFMC achieves a 18.05% return, which is significantly lower than LSAF's 19.96% return.

AFMC

• 1D: -0.05%
• 1M: 0.74%
• 6M: 13.07%
• YTD: 18.05%
• 1Y: 28.37%
• 3Y*: 17.45%
• 5Y*: 10.83%
• 10Y*: —
• ALL TIME*: 12.25%

LSAF

• 1D: -0.55%
• 1M: 2.49%
• 6M: 17.23%
• YTD: 19.96%
• 1Y: 30.03%
• 3Y*: 18.58%
• 5Y*: 10.90%
• 10Y*: —
• ALL TIME*: 11.02%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AFMC First Trust Active Factor Mid Cap ETF	$1.44M	$1.57M	$1.21M
LSAF LeaderShares AlphaFactor US Core Equity ETF	$265.84K	$205.64K	$201.86K

AFMC vs. LSAF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
AFMC First Trust Active Factor Mid Cap ETF	18.05%	10.23%	19.06%	21.46%	-15.55%	25.75%	5.87%	1.97%
LSAF LeaderShares AlphaFactor US Core Equity ETF	19.96%	12.01%	18.09%	15.48%	-13.12%	22.75%	6.92%	3.57%

Correlation

The correlation between AFMC and LSAF is 0.84, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.84
Correlation (3Y) Balances recent behavior with more history.	0.91
Correlation (5Y) Shows whether the relationship held over a longer period.	0.93
Correlation (All Time) Calculated using the full available price history since Dec 4, 2019	0.90

The correlation between AFMC and LSAF has been stable across timeframes, ranging from 0.84 to 0.93 - a consistent structural relationship.

AFMC vs. LSAF - Sectors Allocation Comparison

Sectors	AFMC	LSAF
Technology	21.7%	15.4%
Industrials	18.3%	10.7%
Consumer Cyclical	14.4%	19.9%
Financial Services	11.0%	16.2%
Healthcare	11.0%	7.8%
Real Estate	6.5%	2.1%
Basic Materials	6.1%	5.8%
Consumer Defensive	3.8%	4.1%
Energy	3.8%	3.3%
Communication Services	1.5%	4.7%
Utilities	1.1%	0.9%

Return for Risk

AFMC vs. LSAF — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AFMC

AFMC Risk / Return Rank: 82
AFMC Sharpe Ratio Rank: 80
AFMC Sortino Ratio Rank: 82
AFMC Omega Ratio Rank: 78
AFMC Calmar Ratio Rank: 86
AFMC Martin Ratio Rank: 86

LSAF

LSAF Risk / Return Rank: 88
LSAF Sharpe Ratio Rank: 85
LSAF Sortino Ratio Rank: 87
LSAF Omega Ratio Rank: 82
LSAF Calmar Ratio Rank: 93
LSAF Martin Ratio Rank: 91

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AFMC vs. LSAF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Active Factor Mid Cap ETF (AFMC) and LeaderShares AlphaFactor US Core Equity ETF (LSAF). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AFMC	LSAF	Difference
Sharpe ratio: Return per unit of total volatility	1.84	2.03	-0.19
Sortino ratio: Return per unit of downside risk	2.68	2.98	-0.30
Omega ratio: Gain probability vs. loss probability	1.32	1.35	-0.03
Calmar ratio: Return relative to maximum drawdown	3.35	4.41	-1.06
Martin ratio: Return relative to average drawdown	12.18	14.86	-2.69

AFMC vs. LSAF - Sharpe Ratio Comparison

The current AFMC Sharpe Ratio is 1.84, which is comparable to the LSAF Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of AFMC and LSAF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AFMC vs. LSAF - Drawdown Comparison

The maximum AFMC drawdown since its inception was -42.14%, roughly equal to the maximum LSAF drawdown of -41.67%. Use the drawdown chart below to compare losses from any high point for AFMC and LSAF.

Drawdown Indicators

	AFMC	LSAF	Difference
Max Drawdown Largest peak-to-trough decline	-42.14%	-41.67%	-0.47%
Max Drawdown (1Y) Largest decline over 1 year	-8.20%	-6.58%	-1.62%
Max Drawdown (3Y) Largest decline over 3 years	-21.99%	-20.26%	-1.73%
Max Drawdown (5Y) Largest decline over 5 years	-25.40%	-24.94%	-0.46%
Current Drawdown Current decline from peak	-0.98%	-1.48%	+0.50%
Average Drawdown Average peak-to-trough decline	-7.45%	-6.21%	-1.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.25%	1.95%	+0.30%

Volatility

AFMC vs. LSAF - Volatility Comparison

The current volatility for First Trust Active Factor Mid Cap ETF (AFMC) is 2.96%, while LeaderShares AlphaFactor US Core Equity ETF (LSAF) has a volatility of 4.21%. This indicates that AFMC experiences smaller price fluctuations and is considered to be less risky than LSAF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AFMC	LSAF	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.96%	4.21%	-1.25%
Volatility (6M) Calculated over the trailing 6-month period	11.01%	10.49%	+0.52%
Volatility (1Y) Calculated over the trailing 1-year period	15.00%	14.36%	+0.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.84%	18.38%	+0.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.74%	21.73%	+1.01%

AFMC vs. LSAF - Expense Ratio Comparison

AFMC has a 0.65% expense ratio, which is lower than LSAF's 0.75% expense ratio.

Dividends

AFMC vs. LSAF - Dividend Comparison

AFMC's dividend yield for the trailing twelve months is around 0.69%, more than LSAF's 0.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
AFMC First Trust Active Factor Mid Cap ETF	0.69%	0.96%	0.64%	0.87%	1.42%	0.84%	1.05%	0.29%	0.00%
LSAF LeaderShares AlphaFactor US Core Equity ETF	0.57%	0.69%	0.42%	0.84%	0.96%	0.37%	0.53%	0.71%	0.20%

Frequently Asked Questions

Can I hold both AFMC and LSAF in my portfolio?

AFMC and LSAF have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AFMC or LSAF?

LSAF has higher volatility (4.21%) compared to AFMC (2.96%). In terms of maximum drawdown, AFMC dropped -42.14% vs LSAF's -41.67%.

Which ETF is better, AFMC or LSAF?

On 5-year performance, LSAF leads with 10.90% vs 10.83% for AFMC. On fees, AFMC is cheaper at 0.65% per year. On volatility, AFMC has been the lower-risk option at 2.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AFMC or LSAF?

Over the 5-year period, LSAF has performed better with a 10.90% return vs 10.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AFMC or LSAF?

AFMC is cheaper with a 0.65% expense ratio, compared with 0.75% for LSAF.

Which ETF pays a higher dividend yield, AFMC or LSAF?

AFMC has the higher dividend yield at 0.69%, compared with 0.57% for LSAF.

What is the main difference between AFMC and LSAF?

They also come from different issuers: First Trust and Redwood. Their fees differ too: 0.65% for AFMC and 0.75% for LSAF.

Which has better risk-adjusted returns?

LSAF currently has the higher Sharpe Ratio (2.03 vs 1.84), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.