CPAI vs. LSAF

Last updated Aug 2, 2026

CPAI (Counterpoint Quantitative Equity ETF) and LSAF (LeaderShares AlphaFactor US Core Equity ETF) are both Mid Cap Blend Equities funds. CPAI is actively managed, while LSAF is passively managed. Over the past year, CPAI returned 44.76% vs 30.03% for LSAF. Their 0.73 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.75% expense ratio.

Performance

CPAI vs. LSAF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Counterpoint Quantitative Equity ETF (CPAI) 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, CPAI achieves a 26.13% return, which is significantly higher than LSAF's 19.96% return.

CPAI

• 1D: -0.55%
• 1M: -0.84%
• 6M: 17.38%
• YTD: 26.13%
• 1Y: 44.76%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 30.02%

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)
CPAI Counterpoint Quantitative Equity ETF	$4.18M	$3.24M	$3.18M
LSAF LeaderShares AlphaFactor US Core Equity ETF	$265.84K	$205.64K	$201.86K

CPAI vs. LSAF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CPAI Counterpoint Quantitative Equity ETF	26.13%	17.79%	28.37%	5.67%
LSAF LeaderShares AlphaFactor US Core Equity ETF	19.96%	12.01%	18.09%	6.55%

Correlation

The correlation between CPAI and LSAF is 0.60, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.60
Correlation (All Time) Calculated using the full available price history since Nov 29, 2023	0.73

The correlation between CPAI and LSAF shifts across timeframes, from 0.60 (1 year) to 0.73 (all time), reflecting how their relationship changes across market environments.

CPAI vs. LSAF - Sectors Allocation Comparison

Sectors	CPAI	LSAF
Technology	34.1%	15.4%
Healthcare	28.0%	7.8%
Energy	12.0%	3.3%
Industrials	8.1%	10.7%
Consumer Defensive	4.1%	4.1%
Communication Services	4.0%	4.7%
Basic Materials	3.9%	5.8%
Consumer Cyclical	3.9%	19.9%
Real Estate	2.0%	2.1%
Financial Services	1.9%	16.2%
Utilities	-	0.9%

Return for Risk

CPAI vs. LSAF — Risk / Return Rank

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

CPAI

CPAI Risk / Return Rank: 88
CPAI Sharpe Ratio Rank: 89
CPAI Sortino Ratio Rank: 86
CPAI Omega Ratio Rank: 85
CPAI Calmar Ratio Rank: 91
CPAI Martin Ratio Rank: 91

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.

CPAI vs. LSAF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Counterpoint Quantitative Equity ETF (CPAI) 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.

	CPAI	LSAF	Difference
Sharpe ratio: Return per unit of total volatility	2.19	2.03	+0.16
Sortino ratio: Return per unit of downside risk	2.88	2.98	-0.10
Omega ratio: Gain probability vs. loss probability	1.37	1.35	+0.02
Calmar ratio: Return relative to maximum drawdown	4.10	4.41	-0.32
Martin ratio: Return relative to average drawdown	14.90	14.86	+0.04

CPAI vs. LSAF - Sharpe Ratio Comparison

The current CPAI Sharpe Ratio is 2.19, which is comparable to the LSAF Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of CPAI 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

CPAI vs. LSAF - Drawdown Comparison

The maximum CPAI drawdown since its inception was -21.46%, smaller than the maximum LSAF drawdown of -41.67%. Use the drawdown chart below to compare losses from any high point for CPAI and LSAF.

Drawdown Indicators

	CPAI	LSAF	Difference
Max Drawdown Largest peak-to-trough decline	-21.46%	-41.67%	+20.21%
Max Drawdown (1Y) Largest decline over 1 year	-10.48%	-6.58%	-3.90%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.26%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.94%	—
Current Drawdown Current decline from peak	-2.82%	-1.48%	-1.34%
Average Drawdown Average peak-to-trough decline	-2.96%	-6.21%	+3.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.88%	1.95%	+0.93%

Volatility

CPAI vs. LSAF - Volatility Comparison

Counterpoint Quantitative Equity ETF (CPAI) has a higher volatility of 5.82% compared to LeaderShares AlphaFactor US Core Equity ETF (LSAF) at 4.21%. This indicates that CPAI's price experiences larger fluctuations and is considered to be riskier than LSAF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CPAI	LSAF	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.82%	4.21%	+1.61%
Volatility (6M) Calculated over the trailing 6-month period	16.27%	10.49%	+5.78%
Volatility (1Y) Calculated over the trailing 1-year period	19.63%	14.36%	+5.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.43%	18.38%	+1.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.43%	21.73%	-2.30%

CPAI vs. LSAF - Expense Ratio Comparison

Both CPAI and LSAF have an expense ratio of 0.75%.

Dividends

CPAI vs. LSAF - Dividend Comparison

CPAI's dividend yield for the trailing twelve months is around 0.71%, more than LSAF's 0.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CPAI Counterpoint Quantitative Equity ETF	0.71%	0.89%	0.41%	0.06%	0.00%	0.00%	0.00%	0.00%	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 CPAI and LSAF in my portfolio?

CPAI and LSAF have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CPAI or LSAF?

CPAI has higher volatility (5.82%) compared to LSAF (4.21%). In terms of maximum drawdown, CPAI dropped -21.46% vs LSAF's -41.67%.

Which ETF is better, CPAI or LSAF?

On 1-year performance, CPAI leads with 44.76% vs 30.03% for LSAF. Both ETFs have the same 0.75% expense ratio. On volatility, LSAF has been the lower-risk option at 4.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CPAI or LSAF?

Over the 1-year period, CPAI has performed better with a 44.76% return vs 30.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CPAI or LSAF?

CPAI and LSAF have the same expense ratio: 0.75% per year.

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

CPAI has the higher dividend yield at 0.71%, compared with 0.57% for LSAF.

What is the main difference between CPAI and LSAF?

They also come from different issuers: Counterpoint and Redwood.

Which has better risk-adjusted returns?

CPAI currently has the higher Sharpe Ratio (2.19 vs 2.03), 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.