LCR vs. FLGV

Last updated Jun 4, 2026

LCR (Leuthold Core ETF) and FLGV (Franklin Liberty U.S. Treasury Bond ETF) are both exchange-traded funds - LCR is a Diversified Portfolio fund actively managed by The Leuthold Group LLC, while FLGV is a Government Bonds fund actively managed by Franklin Templeton. Both are actively managed. Over the past 5 years, LCR returned 6.74%/yr vs -0.17%/yr for FLGV. At a 0.13 correlation, their price movements are largely independent. LCR charges 0.79%/yr vs 0.09%/yr for FLGV.

Performance

LCR vs. FLGV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leuthold Core ETF (LCR) and Franklin Liberty U.S. Treasury Bond ETF (FLGV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LCR achieves a 4.15% return, which is significantly higher than FLGV's 0.06% return.

LCR

• 1D: -0.28%
• 1M: 2.71%
• YTD: 4.15%
• 6M: 5.01%
• 1Y: 14.07%
• 3Y*: 11.32%
• 5Y*: 6.74%
• 10Y*: —

FLGV

• 1D: -0.17%
• 1M: 0.12%
• YTD: 0.06%
• 6M: -0.23%
• 1Y: 3.99%
• 3Y*: 2.91%
• 5Y*: -0.17%
• 10Y*: —

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

LCR vs. FLGV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
LCR Leuthold Core ETF	4.15%	12.43%	8.68%	12.80%	-7.58%	12.12%	15.46%
FLGV Franklin Liberty U.S. Treasury Bond ETF	0.06%	6.22%	0.62%	4.18%	-11.53%	-2.39%	-0.27%

Correlation

The correlation between LCR and FLGV is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (All Time) Calculated using the full available price history since Jun 12, 2020	0.13

The correlation between LCR and FLGV shifts across timeframes, from 0.13 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.

LCR vs. FLGV - Sectors Allocation Comparison

Sectors	LCR	FLGV
Technology	25.7%	-
Healthcare	17.5%	-
Financial Services	16.7%	-
Consumer Cyclical	9.4%	-
Energy	8.8%	-
Basic Materials	8.6%	-
Industrials	6.7%	-
Communication Services	6.1%	0.9%
Consumer Defensive	0.5%	-
Utilities	0.1%	-
Real Estate	-	-

Return for Risk

LCR vs. FLGV — Risk / Return Rank

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

LCR

LCR Risk / Return Rank: 55
LCR Sharpe Ratio Rank: 55
LCR Sortino Ratio Rank: 59
LCR Omega Ratio Rank: 56
LCR Calmar Ratio Rank: 48
LCR Martin Ratio Rank: 56

FLGV

FLGV Risk / Return Rank: 29
FLGV Sharpe Ratio Rank: 30
FLGV Sortino Ratio Rank: 29
FLGV Omega Ratio Rank: 28
FLGV Calmar Ratio Rank: 29
FLGV Martin Ratio Rank: 29

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.

LCR vs. FLGV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leuthold Core ETF (LCR) and Franklin Liberty U.S. Treasury Bond ETF (FLGV). 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.

	LCR	FLGV	Difference
Sharpe ratio: Return per unit of total volatility	1.89	1.07	+0.81
Sortino ratio: Return per unit of downside risk	2.75	1.63	+1.13
Omega ratio: Gain probability vs. loss probability	1.34	1.19	+0.15
Calmar ratio: Return relative to maximum drawdown	2.35	1.42	+0.93
Martin ratio: Return relative to average drawdown	9.69	4.20	+5.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LCR vs. FLGV - Sharpe Ratio Comparison

The current LCR Sharpe Ratio is 1.89, which is higher than the FLGV Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of LCR and FLGV, 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

	LCR	FLGV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	1.07	+0.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	-0.03	+0.78
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	-0.13	+0.88

Drawdowns

LCR vs. FLGV - Drawdown Comparison

The maximum LCR drawdown since its inception was -17.44%, roughly equal to the maximum FLGV drawdown of -17.63%. Use the drawdown chart below to compare losses from any high point for LCR and FLGV.

Drawdown Indicators

	LCR	FLGV	Difference
Max Drawdown Largest peak-to-trough decline	-17.44%	-17.63%	+0.19%
Max Drawdown (1Y) Largest decline over 1 year	-6.02%	-2.82%	-3.20%
Max Drawdown (3Y) Largest decline over 3 years	-8.59%	-5.23%	-3.36%
Max Drawdown (5Y) Largest decline over 5 years	-13.40%	-15.26%	+1.86%
Current Drawdown Current decline from peak	-0.28%	-5.54%	+5.26%
Average Drawdown Average peak-to-trough decline	-2.84%	-8.73%	+5.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.46%	0.95%	+0.51%

Volatility

LCR vs. FLGV - Volatility Comparison

Leuthold Core ETF (LCR) has a higher volatility of 2.08% compared to Franklin Liberty U.S. Treasury Bond ETF (FLGV) at 1.20%. This indicates that LCR's price experiences larger fluctuations and is considered to be riskier than FLGV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LCR	FLGV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.08%	1.20%	+0.88%
Volatility (6M) Calculated over the trailing 6-month period	5.98%	2.49%	+3.49%
Volatility (1Y) Calculated over the trailing 1-year period	7.49%	3.73%	+3.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.02%	5.43%	+3.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.40%	5.15%	+6.25%

LCR vs. FLGV - Expense Ratio Comparison

LCR has a 0.79% expense ratio, which is higher than FLGV's 0.09% expense ratio.

Dividends

LCR vs. FLGV - Dividend Comparison

LCR's dividend yield for the trailing twelve months is around 1.31%, less than FLGV's 4.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
FLGV Franklin Liberty U.S. Treasury Bond ETF	4.15%	4.07%	4.13%	3.46%	2.21%	1.92%	0.97%
LCR Leuthold Core ETF	1.31%	1.37%	1.86%	1.60%	0.75%	0.21%	0.62%

Frequently Asked Questions

Can I hold both LCR and FLGV in my portfolio?

LCR and FLGV have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LCR or FLGV?

LCR has higher volatility (2.08%) compared to FLGV (1.20%). In terms of maximum drawdown, LCR dropped -17.44% vs FLGV's -17.63%.

Which ETF is better, LCR or FLGV?

On 5-year performance, LCR leads with 6.74% vs -0.17% for FLGV. On fees, FLGV is cheaper at 0.09% per year. On volatility, FLGV has been the lower-risk option at 1.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LCR or FLGV?

Over the 5-year period, LCR has performed better with a 6.74% return vs -0.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LCR or FLGV?

FLGV is cheaper with a 0.09% expense ratio, compared with 0.79% for LCR.

Which ETF pays a higher dividend yield, LCR or FLGV?

FLGV has the higher dividend yield at 4.15%, compared with 1.31% for LCR.

What is the main difference between LCR and FLGV?

LCR is categorized as Diversified Portfolio, while FLGV is Government Bonds. They also come from different issuers: The Leuthold Group LLC and Franklin Templeton. Their fees differ too: 0.79% for LCR and 0.09% for FLGV.

Which has better risk-adjusted returns?

LCR currently has the higher Sharpe Ratio (1.89 vs 1.07), 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.