EUSA vs. LSAF

Last updated Aug 6, 2026

EUSA (iShares MSCI USA Equal Weighted ETF) and LSAF (LeaderShares AlphaFactor US Core Equity ETF) are both Mid Cap Blend Equities funds - EUSA tracks the MSCI USA Equal Weighted Index while LSAF tracks the AlphaFactor US Core Equity Index. Both are passively managed. Over the past 5 years, EUSA returned 8.01%/yr vs 11.42%/yr for LSAF. Their correlation of 0.92 means they have usually moved in the same direction. EUSA charges 0.09%/yr vs 0.75%/yr for LSAF.

Performance

EUSA vs. LSAF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Equal Weighted ETF (EUSA) 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, EUSA achieves a 14.16% return, which is significantly lower than LSAF's 23.54% return.

EUSA

• 1D: -0.33%
• 1M: 1.60%
• 6M: 11.22%
• YTD: 14.16%
• 1Y: 19.05%
• 3Y*: 15.39%
• 5Y*: 8.01%
• 10Y*: 11.70%
• ALL TIME*: 12.18%

LSAF

• 1D: 0.05%
• 1M: 5.12%
• 6M: 18.39%
• YTD: 23.54%
• 1Y: 32.38%
• 3Y*: 20.05%
• 5Y*: 11.42%
• 10Y*: —
• ALL TIME*: 11.42%

*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)
EUSA iShares MSCI USA Equal Weighted ETF	$11.93M	$10.58M	$7.77M
LSAF LeaderShares AlphaFactor US Core Equity ETF	$329.56K	$234.98K	$207.45K

EUSA vs. LSAF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
EUSA iShares MSCI USA Equal Weighted ETF	14.16%	10.24%	14.64%	17.72%	-17.13%	25.60%	15.03%	30.56%	-14.96%
LSAF LeaderShares AlphaFactor US Core Equity ETF	23.54%	12.01%	18.09%	15.48%	-13.12%	22.75%	6.92%	28.35%	-15.47%

Correlation

The correlation between EUSA and LSAF is 0.90, 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.	0.90
Correlation (3Y) Balances recent behavior with more history.	0.92
Correlation (5Y) Shows whether the relationship held over a longer period.	0.91
Correlation (All Time) Calculated using the full available price history since Oct 2, 2018	0.92

The correlation between EUSA and LSAF has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.

EUSA vs. LSAF - Sectors Allocation Comparison

Sectors	EUSA	LSAF
Technology	19.0%	15.4%
Financial Services	15.6%	16.2%
Industrials	15.3%	10.7%
Healthcare	11.2%	7.8%
Consumer Cyclical	10.4%	19.9%
Utilities	5.8%	0.9%
Consumer Defensive	5.4%	4.1%
Real Estate	5.2%	2.1%
Basic Materials	4.8%	5.8%
Energy	3.9%	3.3%
Communication Services	3.2%	4.7%

Return for Risk

EUSA vs. LSAF — Risk / Return Rank

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

EUSA

EUSA Risk / Return Rank: 61
EUSA Sharpe Ratio Rank: 59
EUSA Sortino Ratio Rank: 60
EUSA Omega Ratio Rank: 55
EUSA Calmar Ratio Rank: 61
EUSA Martin Ratio Rank: 70

LSAF

LSAF Risk / Return Rank: 89
LSAF Sharpe Ratio Rank: 87
LSAF Sortino Ratio Rank: 88
LSAF Omega Ratio Rank: 83
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.

EUSA vs. LSAF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Equal Weighted ETF (EUSA) 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.

	EUSA	LSAF	Difference
Sharpe ratio: Return per unit of total volatility	1.60	2.27	-0.67
Sortino ratio: Return per unit of downside risk	2.31	3.30	-0.99
Omega ratio: Gain probability vs. loss probability	1.28	1.39	-0.11
Calmar ratio: Return relative to maximum drawdown	2.45	4.94	-2.50
Martin ratio: Return relative to average drawdown	9.78	16.65	-6.87

EUSA vs. LSAF - Sharpe Ratio Comparison

The current EUSA Sharpe Ratio is 1.60, which is comparable to the LSAF Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of EUSA 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

EUSA vs. LSAF - Drawdown Comparison

The maximum EUSA drawdown since its inception was -39.16%, smaller than the maximum LSAF drawdown of -41.67%. Use the drawdown chart below to compare losses from any high point for EUSA and LSAF.

Drawdown Indicators

	EUSA	LSAF	Difference
Max Drawdown Largest peak-to-trough decline	-39.16%	-41.67%	+2.51%
Max Drawdown (1Y) Largest decline over 1 year	-7.82%	-6.58%	-1.24%
Max Drawdown (3Y) Largest decline over 3 years	-18.20%	-20.26%	+2.06%
Max Drawdown (5Y) Largest decline over 5 years	-25.24%	-24.94%	-0.30%
Max Drawdown (10Y) Largest decline over 10 years	-39.16%	—	—
Current Drawdown Current decline from peak	-0.33%	0.00%	-0.33%
Average Drawdown Average peak-to-trough decline	-4.56%	-6.20%	+1.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	1.95%	0.00%

Volatility

EUSA vs. LSAF - Volatility Comparison

The current volatility for iShares MSCI USA Equal Weighted ETF (EUSA) is 3.34%, while LeaderShares AlphaFactor US Core Equity ETF (LSAF) has a volatility of 4.51%. This indicates that EUSA 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

	EUSA	LSAF	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.34%	4.51%	-1.17%
Volatility (6M) Calculated over the trailing 6-month period	9.06%	10.56%	-1.50%
Volatility (1Y) Calculated over the trailing 1-year period	11.97%	14.34%	-2.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.97%	18.40%	-1.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.28%	21.73%	-3.45%

EUSA vs. LSAF - Expense Ratio Comparison

EUSA has a 0.09% expense ratio, which is lower than LSAF's 0.75% expense ratio.

Dividends

EUSA vs. LSAF - Dividend Comparison

EUSA's dividend yield for the trailing twelve months is around 1.42%, more than LSAF's 0.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EUSA iShares MSCI USA Equal Weighted ETF	1.42%	1.63%	1.47%	1.53%	1.73%	1.23%	1.45%	1.49%	2.01%	1.50%	1.59%	2.21%
LSAF LeaderShares AlphaFactor US Core Equity ETF	0.56%	0.69%	0.42%	0.84%	0.96%	0.37%	0.53%	0.71%	0.20%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EUSA and LSAF in my portfolio?

With a correlation of 0.90, EUSA and LSAF move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, EUSA or LSAF?

LSAF has higher volatility (4.51%) compared to EUSA (3.34%). In terms of maximum drawdown, EUSA dropped -39.16% vs LSAF's -41.67%.

Which ETF is better, EUSA or LSAF?

On 5-year performance, LSAF leads with 11.42% vs 8.01% for EUSA. On fees, EUSA is cheaper at 0.09% per year. On volatility, EUSA has been the lower-risk option at 3.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EUSA or LSAF?

Over the 5-year period, LSAF has performed better with a 11.42% return vs 8.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EUSA or LSAF?

EUSA is cheaper with a 0.09% expense ratio, compared with 0.75% for LSAF.

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

EUSA has the higher dividend yield at 1.42%, compared with 0.56% for LSAF.

What is the main difference between EUSA and LSAF?

EUSA tracks MSCI USA Equal Weighted Index, while LSAF tracks AlphaFactor US Core Equity Index. They also come from different issuers: iShares and Redwood. Their fees differ too: 0.09% for EUSA and 0.75% for LSAF.

Which has better risk-adjusted returns?

LSAF currently has the higher Sharpe Ratio (2.27 vs 1.60), 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.