LCORX vs. FPACX
LCORX (Leuthold Core Investment Fund) and FPACX (FPA Crescent Fund Institutional Class) are both mutual funds - LCORX is a Tactical Allocation fund managed by Leuthold, while FPACX is a Diversified Portfolio fund managed by FPA. Over the past 10 years, LCORX returned 7.83%/yr vs 10.17%/yr for FPACX. Their 0.74 correlation means they have sometimes moved together and sometimes differently. LCORX charges 1.16%/yr vs 1.06%/yr for FPACX.
Performance
LCORX vs. FPACX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, LCORX achieves a 5.82% return, which is significantly lower than FPACX's 7.73% return. Over the past 10 years, LCORX has underperformed FPACX with an annualized return of 7.83%, while FPACX has yielded a comparatively higher 10.17% annualized return.
LCORX
- 1D
- 0.76%
- 1M
- -0.17%
- 6M
- 3.62%
- YTD
- 5.82%
- 1Y
- 13.89%
- 3Y*
- 10.83%
- 5Y*
- 7.02%
- 10Y*
- 7.83%
- ALL TIME*
- 8.17%
FPACX
- 1D
- 0.33%
- 1M
- 1.32%
- 6M
- 5.03%
- YTD
- 7.73%
- 1Y
- 17.35%
- 3Y*
- 13.86%
- 5Y*
- 9.58%
- 10Y*
- 10.17%
- ALL TIME*
- 9.64%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
LCORX vs. FPACX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LCORX Leuthold Core Investment Fund | 5.82% | 14.39% | 8.01% | 11.71% | -6.78% | 15.19% | 10.08% | 11.58% | -6.23% | 15.79% |
FPACX FPA Crescent Fund Institutional Class | 7.73% | 17.69% | 12.42% | 20.30% | -9.20% | 15.09% | 12.14% | 20.03% | -7.42% | 10.38% |
Correlation
The correlation between LCORX and FPACX is 0.69, 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. | 0.69 |
Correlation (3Y) Balances recent behavior with more history. | 0.78 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.81 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.80 |
Correlation (All Time) Calculated using the full available price history since Nov 17, 1995 | 0.74 |
The correlation between LCORX and FPACX shifts across timeframes, from 0.69 (1 year) to 0.81 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
LCORX vs. FPACX — Risk / Return Rank
LCORX
FPACX
LCORX vs. FPACX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leuthold Core Investment Fund (LCORX) and FPA Crescent Fund Institutional Class (FPACX). 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.
| LCORX | FPACX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.32 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.08 | 2.15 | -0.07 |
| Martin ratioReturn relative to average drawdown | 7.48 | 8.10 | -0.62 |
Loading charts...
Drawdowns
LCORX vs. FPACX - Drawdown Comparison
The maximum LCORX drawdown since its inception was -41.31%, which is greater than FPACX's maximum drawdown of -31.60%. Use the drawdown chart below to compare losses from any high point for LCORX and FPACX.
Loading charts...
Drawdown Indicators
| LCORX | FPACX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.31% | -31.60% | -9.71% |
Max Drawdown (1Y)Largest decline over 1 year | -6.55% | -7.37% | +0.82% |
Max Drawdown (3Y)Largest decline over 3 years | -9.98% | -10.95% | +0.97% |
Max Drawdown (5Y)Largest decline over 5 years | -13.88% | -18.47% | +4.59% |
Max Drawdown (10Y)Largest decline over 10 years | -19.38% | -29.46% | +10.08% |
Current DrawdownCurrent decline from peak | -1.86% | 0.00% | -1.86% |
Average DrawdownAverage peak-to-trough decline | -4.99% | -3.86% | -1.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.82% | 1.95% | -0.13% |
Volatility
LCORX vs. FPACX - Volatility Comparison
The current volatility for Leuthold Core Investment Fund (LCORX) is 2.01%, while FPA Crescent Fund Institutional Class (FPACX) has a volatility of 2.43%. This indicates that LCORX experiences smaller price fluctuations and is considered to be less risky than FPACX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| LCORX | FPACX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.01% | 2.43% | -0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 7.23% | 7.39% | -0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.86% | 9.22% | -0.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.18% | 11.89% | -2.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.63% | 13.14% | -3.51% |
LCORX vs. FPACX - Expense Ratio Comparison
LCORX has a 1.16% expense ratio, which is higher than FPACX's 1.06% expense ratio.
Dividends
LCORX vs. FPACX - Dividend Comparison
LCORX's dividend yield for the trailing twelve months is around 7.54%, less than FPACX's 8.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FPACX FPA Crescent Fund Institutional Class | 8.27% | 9.60% | 7.95% | 3.72% | 0.77% | 11.62% | 4.80% | 4.65% | 8.87% | 3.70% | 4.98% | 6.34% |
LCORX Leuthold Core Investment Fund | 7.54% | 7.93% | 7.03% | 5.57% | 7.20% | 5.00% | 0.24% | 1.89% | 10.74% | 3.22% | 0.45% | 3.94% |
Frequently Asked Questions
LCORX and FPACX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FPACX has higher volatility (2.43%) compared to LCORX (2.01%). In terms of maximum drawdown, LCORX dropped -41.31% vs FPACX's -31.60%.
FPACX currently has the higher Sharpe Ratio (1.72 vs 1.54), 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.
Find the right allocation for LCORX and FPACX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer