BBUS vs. LSAT

Last updated Jun 4, 2026

BBUS (JP Morgan Betabuilders U.S. Equity ETF) and LSAT (Leadershares Alphafactor Tactical Focused ETF) are both exchange-traded funds - BBUS is a Large Cap Growth Equities fund tracking the Morningstar US Target Market Exposure Index, while LSAT is a Money Market fund actively managed by Redwood. BBUS is passively managed, while LSAT is actively managed. Over the past 5 years, BBUS returned 13.43%/yr vs 5.78%/yr for LSAT. A 0.67 correlation means they provide meaningful diversification when combined. BBUS charges 0.02%/yr vs 0.99%/yr for LSAT.

Performance

BBUS vs. LSAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JP Morgan Betabuilders U.S. Equity ETF (BBUS) and Leadershares Alphafactor Tactical Focused ETF (LSAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with BBUS having a 10.60% return and LSAT slightly lower at 10.11%.

BBUS

• 1D: -0.74%
• 1M: 5.12%
• YTD: 10.60%
• 6M: 10.47%
• 1Y: 27.47%
• 3Y*: 22.46%
• 5Y*: 13.43%
• 10Y*: —

LSAT

• 1D: -0.59%
• 1M: 2.09%
• YTD: 10.11%
• 6M: 8.58%
• 1Y: 10.20%
• 3Y*: 11.66%
• 5Y*: 5.78%
• 10Y*: —

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

BBUS vs. LSAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BBUS JP Morgan Betabuilders U.S. Equity ETF	10.60%	17.77%	24.89%	27.20%	-19.46%	27.13%	11.62%
LSAT Leadershares Alphafactor Tactical Focused ETF	10.11%	-1.54%	18.16%	13.64%	-12.99%	25.10%	20.47%

Correlation

The correlation between BBUS and LSAT is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (All Time) Calculated using the full available price history since Oct 28, 2020	0.67

Over the past year, the correlation between BBUS and LSAT has dropped to 0.46 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.

BBUS vs. LSAT - Sectors Allocation Comparison

Sectors	BBUS	LSAT
Technology	37.1%	13.0%
Financial Services	10.8%	23.0%
Communication Services	10.8%	8.1%
Consumer Cyclical	9.4%	23.9%
Healthcare	8.1%	6.2%
Industrials	7.2%	13.6%
Consumer Defensive	4.5%	3.3%
Energy	3.2%	3.0%
Utilities	2.6%	-
Real Estate	1.7%	3.1%
Basic Materials	1.2%	2.8%

Return for Risk

BBUS vs. LSAT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BBUS

BBUS Risk / Return Rank: 68
BBUS Sharpe Ratio Rank: 70
BBUS Sortino Ratio Rank: 68
BBUS Omega Ratio Rank: 68
BBUS Calmar Ratio Rank: 60
BBUS Martin Ratio Rank: 72

LSAT

LSAT Risk / Return Rank: 24
LSAT Sharpe Ratio Rank: 23
LSAT Sortino Ratio Rank: 24
LSAT Omega Ratio Rank: 22
LSAT Calmar Ratio Rank: 27
LSAT Martin Ratio Rank: 24

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BBUS vs. LSAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JP Morgan Betabuilders U.S. Equity ETF (BBUS) and Leadershares Alphafactor Tactical Focused ETF (LSAT). 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.

	BBUS	LSAT	Difference
Sharpe ratio: Return per unit of total volatility	2.33	0.81	+1.51
Sortino ratio: Return per unit of downside risk	3.18	1.27	+1.90
Omega ratio: Gain probability vs. loss probability	1.42	1.15	+0.27
Calmar ratio: Return relative to maximum drawdown	3.00	1.29	+1.71
Martin ratio: Return relative to average drawdown	13.76	3.03	+10.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BBUS vs. LSAT - Sharpe Ratio Comparison

The current BBUS Sharpe Ratio is 2.33, which is higher than the LSAT Sharpe Ratio of 0.81. The chart below compares the historical Sharpe Ratios of BBUS and LSAT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BBUS	LSAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.33	0.81	+1.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	0.36	+0.44
Sharpe Ratio (All Time) Calculated using the full available price history	0.84	0.73	+0.10

Drawdowns

BBUS vs. LSAT - Drawdown Comparison

The maximum BBUS drawdown since its inception was -35.35%, which is greater than LSAT's maximum drawdown of -20.48%. Use the drawdown chart below to compare losses from any high point for BBUS and LSAT.

Drawdown Indicators

	BBUS	LSAT	Difference
Max Drawdown Largest peak-to-trough decline	-35.35%	-20.48%	-14.87%
Max Drawdown (1Y) Largest decline over 1 year	-9.21%	-7.94%	-1.27%
Max Drawdown (3Y) Largest decline over 3 years	-19.01%	-18.25%	-0.76%
Max Drawdown (5Y) Largest decline over 5 years	-25.46%	-20.48%	-4.98%
Current Drawdown Current decline from peak	-0.74%	-0.59%	-0.15%
Average Drawdown Average peak-to-trough decline	-5.46%	-5.55%	+0.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.00%	3.37%	-1.37%

Volatility

BBUS vs. LSAT - Volatility Comparison

The current volatility for JP Morgan Betabuilders U.S. Equity ETF (BBUS) is 2.88%, while Leadershares Alphafactor Tactical Focused ETF (LSAT) has a volatility of 3.26%. This indicates that BBUS experiences smaller price fluctuations and is considered to be less risky than LSAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBUS	LSAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.88%	3.26%	-0.38%
Volatility (6M) Calculated over the trailing 6-month period	8.96%	9.11%	-0.15%
Volatility (1Y) Calculated over the trailing 1-year period	11.87%	12.59%	-0.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.03%	16.25%	+0.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.59%	16.76%	+2.83%

BBUS vs. LSAT - Expense Ratio Comparison

BBUS has a 0.02% expense ratio, which is lower than LSAT's 0.99% expense ratio.

Dividends

BBUS vs. LSAT - Dividend Comparison

BBUS's dividend yield for the trailing twelve months is around 0.98%, less than LSAT's 1.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BBUS JP Morgan Betabuilders U.S. Equity ETF	0.98%	1.07%	1.21%	1.38%	1.57%	1.11%	1.43%	1.37%
LSAT Leadershares Alphafactor Tactical Focused ETF	1.72%	1.90%	1.31%	1.85%	0.36%	3.44%	0.30%	0.00%

Frequently Asked Questions

Can I hold both BBUS and LSAT in my portfolio?

BBUS and LSAT have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BBUS or LSAT?

LSAT has higher volatility (3.26%) compared to BBUS (2.88%). In terms of maximum drawdown, BBUS dropped -35.35% vs LSAT's -20.48%.

Which ETF is better, BBUS or LSAT?

On 5-year performance, BBUS leads with 13.43% vs 5.78% for LSAT. On fees, BBUS is cheaper at 0.02% per year. On volatility, BBUS has been the lower-risk option at 2.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BBUS or LSAT?

Over the 5-year period, BBUS has performed better with a 13.43% return vs 5.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBUS or LSAT?

BBUS is cheaper with a 0.02% expense ratio, compared with 0.99% for LSAT.

Which ETF pays a higher dividend yield, BBUS or LSAT?

LSAT has the higher dividend yield at 1.72%, compared with 0.98% for BBUS.

What is the main difference between BBUS and LSAT?

BBUS is categorized as Large Cap Growth Equities, while LSAT is Money Market. They also come from different issuers: JPMorgan and Redwood. Their fees differ too: 0.02% for BBUS and 0.99% for LSAT.

Which has better risk-adjusted returns?

BBUS currently has the higher Sharpe Ratio (2.33 vs 0.81), 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.