IQMM vs. LSAT

Last updated Jun 4, 2026

IQMM (ProShares GENIUS Money Market ETF) and LSAT (Leadershares Alphafactor Tactical Focused ETF) are both Money Market funds. Both are actively managed. At a correlation of -0.12, they often move in opposite directions. IQMM charges 0.15%/yr vs 0.99%/yr for LSAT.

Performance

IQMM vs. LSAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares GENIUS Money Market ETF (IQMM) and Leadershares Alphafactor Tactical Focused ETF (LSAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IQMM

• 1D: 0.01%
• 1M: 0.28%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 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)

IQMM vs. LSAT - Yearly Performance Comparison

	2026 (YTD)
IQMM ProShares GENIUS Money Market ETF	0.98%
LSAT Leadershares Alphafactor Tactical Focused ETF	6.43%

Correlation

The correlation between IQMM and LSAT is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 20, 2026	-0.12

Return for Risk

IQMM vs. LSAT — Risk / Return Rank

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

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.

IQMM vs. LSAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares GENIUS Money Market ETF (IQMM) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	IQMM	LSAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.81	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.36	—
Sharpe Ratio (All Time) Calculated using the full available price history	16.18	0.73	+15.45

Drawdowns

IQMM vs. LSAT - Drawdown Comparison

The maximum IQMM drawdown since its inception was -0.02%, smaller than the maximum LSAT drawdown of -20.48%. Use the drawdown chart below to compare losses from any high point for IQMM and LSAT.

Drawdown Indicators

	IQMM	LSAT	Difference
Max Drawdown Largest peak-to-trough decline	-0.02%	-20.48%	+20.46%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.94%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-18.25%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-20.48%	—
Current Drawdown Current decline from peak	-0.00%	-0.59%	+0.59%
Average Drawdown Average peak-to-trough decline	-0.00%	-5.55%	+5.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.37%	—

Volatility

Volatility by Period

	IQMM	LSAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.26%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.11%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.22%	12.59%	-12.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.22%	16.25%	-16.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.22%	16.76%	-16.54%

IQMM vs. LSAT - Expense Ratio Comparison

IQMM has a 0.15% expense ratio, which is lower than LSAT's 0.99% expense ratio.

Dividends

IQMM vs. LSAT - Dividend Comparison

IQMM's dividend yield for the trailing twelve months is around 0.94%, less than LSAT's 1.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
IQMM ProShares GENIUS Money Market ETF	0.94%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
LSAT Leadershares Alphafactor Tactical Focused ETF	1.72%	1.90%	1.31%	1.85%	0.36%	3.44%	0.30%

Frequently Asked Questions

Can I hold both IQMM and LSAT in my portfolio?

IQMM and LSAT have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IQMM or LSAT?

On fees, IQMM is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IQMM or LSAT?

IQMM is cheaper with a 0.15% expense ratio, compared with 0.99% for LSAT.

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

LSAT has the higher dividend yield at 1.72%, compared with 0.94% for IQMM.

What is the main difference between IQMM and LSAT?

They also come from different issuers: ProShares and Redwood. Their fees differ too: 0.15% for IQMM and 0.99% for LSAT.