LCR vs. LCORX

Last updated Jun 4, 2026

LCR (Leuthold Core ETF) and LCORX (Leuthold Core Investment Fund) are both funds - LCR is a Diversified Portfolio fund actively managed by The Leuthold Group LLC, while LCORX is a Tactical Allocation fund managed by Leuthold. Over the past 5 years, LCR returned 6.74%/yr vs 7.46%/yr for LCORX. Their correlation of 0.90 suggests significant overlap in exposure. LCR charges 0.79%/yr vs 1.16%/yr for LCORX.

Performance

LCR vs. LCORX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leuthold Core ETF (LCR) and Leuthold Core Investment Fund (LCORX). 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 lower than LCORX's 7.29% return.

LCR

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

LCORX

• 1D: 0.54%
• 1M: 3.16%
• YTD: 7.29%
• 6M: 8.36%
• 1Y: 18.04%
• 3Y*: 12.94%
• 5Y*: 7.46%
• 10Y*: 8.08%

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

LCR vs. LCORX - 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%	13.28%
LCORX Leuthold Core Investment Fund	7.29%	14.39%	8.01%	11.71%	-6.78%	15.19%	10.02%

Correlation

The correlation between LCR and LCORX is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (All Time) Calculated using the full available price history since Jan 7, 2020	0.90

The correlation between LCR and LCORX has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.

Return for Risk

LCR vs. LCORX — 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

LCORX

LCORX Risk / Return Rank: 52
LCORX Sharpe Ratio Rank: 53
LCORX Sortino Ratio Rank: 52
LCORX Omega Ratio Rank: 51
LCORX Calmar Ratio Rank: 52
LCORX Martin Ratio Rank: 52

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. LCORX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leuthold Core ETF (LCR) and Leuthold Core Investment Fund (LCORX). 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	LCORX	Difference
Sharpe ratio: Return per unit of total volatility	1.89	2.14	-0.26
Sortino ratio: Return per unit of downside risk	2.75	3.06	-0.31
Omega ratio: Gain probability vs. loss probability	1.34	1.39	-0.05
Calmar ratio: Return relative to maximum drawdown	2.35	2.77	-0.42
Martin ratio: Return relative to average drawdown	9.69	10.66	-0.97
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. LCORX - Sharpe Ratio Comparison

The current LCR Sharpe Ratio is 1.89, which is comparable to the LCORX Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of LCR and LCORX, 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	LCORX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	2.14	-0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	0.82	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.84	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	0.73	+0.02

Drawdowns

LCR vs. LCORX - Drawdown Comparison

The maximum LCR drawdown since its inception was -17.44%, smaller than the maximum LCORX drawdown of -41.31%. Use the drawdown chart below to compare losses from any high point for LCR and LCORX.

Drawdown Indicators

	LCR	LCORX	Difference
Max Drawdown Largest peak-to-trough decline	-17.44%	-41.31%	+23.87%
Max Drawdown (1Y) Largest decline over 1 year	-6.02%	-6.55%	+0.53%
Max Drawdown (3Y) Largest decline over 3 years	-8.59%	-9.98%	+1.39%
Max Drawdown (5Y) Largest decline over 5 years	-13.40%	-13.88%	+0.48%
Max Drawdown (10Y) Largest decline over 10 years	—	-19.38%	—
Current Drawdown Current decline from peak	-0.28%	0.00%	-0.28%
Average Drawdown Average peak-to-trough decline	-2.84%	-5.00%	+2.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.46%	1.70%	-0.24%

Volatility

LCR vs. LCORX - Volatility Comparison

The current volatility for Leuthold Core ETF (LCR) is 2.08%, while Leuthold Core Investment Fund (LCORX) has a volatility of 2.60%. This indicates that LCR experiences smaller price fluctuations and is considered to be less risky than LCORX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LCR	LCORX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.08%	2.60%	-0.52%
Volatility (6M) Calculated over the trailing 6-month period	5.98%	6.77%	-0.79%
Volatility (1Y) Calculated over the trailing 1-year period	7.49%	8.46%	-0.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.02%	9.18%	-0.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.40%	9.68%	+1.72%

LCR vs. LCORX - Expense Ratio Comparison

LCR has a 0.79% expense ratio, which is lower than LCORX's 1.16% expense ratio.

Dividends

LCR vs. LCORX - Dividend Comparison

LCR's dividend yield for the trailing twelve months is around 1.31%, less than LCORX's 7.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LCORX Leuthold Core Investment Fund	7.41%	7.93%	7.03%	5.57%	7.20%	5.00%	0.24%	1.89%	10.74%	3.22%	0.45%	3.94%
LCR Leuthold Core ETF	1.31%	1.37%	1.86%	1.60%	0.75%	0.21%	0.62%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LCR and LCORX in my portfolio?

LCR and LCORX have a correlation of 0.89, 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 LCORX?

LCORX has higher volatility (2.60%) compared to LCR (2.08%). In terms of maximum drawdown, LCR dropped -17.44% vs LCORX's -41.31%.

Which has better risk-adjusted returns?

LCORX currently has the higher Sharpe Ratio (2.14 vs 1.89), 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.