LCR vs. MFUL

Last updated Jun 4, 2026

LCR (Leuthold Core ETF) and MFUL (Mindful Conservative ETF) are both Diversified Portfolio funds. Both are actively managed. Over the past 3 years, LCR returned 11.32%/yr vs 4.96%/yr for MFUL. A 0.69 correlation means they provide meaningful diversification when combined. LCR charges 0.79%/yr vs 1.10%/yr for MFUL.

Performance

LCR vs. MFUL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leuthold Core ETF (LCR) and Mindful Conservative ETF (MFUL). 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 MFUL's 3.28% return.

LCR

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

MFUL

• 1D: -0.28%
• 1M: 1.45%
• YTD: 3.28%
• 6M: 3.33%
• 1Y: 7.13%
• 3Y*: 4.96%
• 5Y*: —
• 10Y*: —

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

LCR vs. MFUL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
LCR Leuthold Core ETF	4.15%	12.43%	8.68%	12.80%	-7.58%	0.48%
MFUL Mindful Conservative ETF	3.28%	4.51%	5.36%	2.24%	-12.46%	-1.61%

Correlation

The correlation between LCR and MFUL is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (All Time) Calculated using the full available price history since Nov 4, 2021	0.69

Over the past year, LCR and MFUL have become more correlated (0.90) than their long-term average of 0.69, meaning their price movements have been converging.

LCR vs. MFUL - Sectors Allocation Comparison

Sectors	LCR	MFUL
Technology	25.7%	25.8%
Healthcare	17.5%	8.4%
Financial Services	16.7%	10.7%
Consumer Cyclical	9.4%	8.7%
Energy	8.8%	8.0%
Basic Materials	8.6%	5.5%
Industrials	6.7%	9.9%
Communication Services	6.1%	8.4%
Consumer Defensive	0.5%	6.7%
Utilities	0.1%	5.5%
Real Estate	-	2.4%

Return for Risk

LCR vs. MFUL — 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

MFUL

MFUL Risk / Return Rank: 52
MFUL Sharpe Ratio Rank: 54
MFUL Sortino Ratio Rank: 54
MFUL Omega Ratio Rank: 58
MFUL Calmar Ratio Rank: 43
MFUL Martin Ratio Rank: 50

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. MFUL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leuthold Core ETF (LCR) and Mindful Conservative ETF (MFUL). 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	MFUL	Difference
Sharpe ratio: Return per unit of total volatility	1.89	1.82	+0.06
Sortino ratio: Return per unit of downside risk	2.75	2.59	+0.16
Omega ratio: Gain probability vs. loss probability	1.34	1.35	-0.01
Calmar ratio: Return relative to maximum drawdown	2.35	2.13	+0.22
Martin ratio: Return relative to average drawdown	9.69	8.24	+1.44
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. MFUL - Sharpe Ratio Comparison

The current LCR Sharpe Ratio is 1.89, which is comparable to the MFUL Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of LCR and MFUL, 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	MFUL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	1.82	+0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	0.01	+0.74

Drawdowns

LCR vs. MFUL - Drawdown Comparison

The maximum LCR drawdown since its inception was -17.44%, which is greater than MFUL's maximum drawdown of -16.41%. Use the drawdown chart below to compare losses from any high point for LCR and MFUL.

Drawdown Indicators

	LCR	MFUL	Difference
Max Drawdown Largest peak-to-trough decline	-17.44%	-16.41%	-1.03%
Max Drawdown (1Y) Largest decline over 1 year	-6.02%	-3.36%	-2.66%
Max Drawdown (3Y) Largest decline over 3 years	-8.59%	-4.74%	-3.85%
Max Drawdown (5Y) Largest decline over 5 years	-13.40%	—	—
Current Drawdown Current decline from peak	-0.28%	-0.46%	+0.18%
Average Drawdown Average peak-to-trough decline	-2.84%	-9.50%	+6.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.46%	0.87%	+0.59%

Volatility

LCR vs. MFUL - Volatility Comparison

Leuthold Core ETF (LCR) has a higher volatility of 2.08% compared to Mindful Conservative ETF (MFUL) at 1.46%. This indicates that LCR's price experiences larger fluctuations and is considered to be riskier than MFUL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LCR	MFUL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.08%	1.46%	+0.62%
Volatility (6M) Calculated over the trailing 6-month period	5.98%	3.23%	+2.75%
Volatility (1Y) Calculated over the trailing 1-year period	7.49%	3.93%	+3.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.02%	4.24%	+4.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.40%	4.24%	+7.16%

LCR vs. MFUL - Expense Ratio Comparison

LCR has a 0.79% expense ratio, which is lower than MFUL's 1.10% expense ratio.

Dividends

LCR vs. MFUL - Dividend Comparison

LCR's dividend yield for the trailing twelve months is around 1.31%, less than MFUL's 3.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
LCR Leuthold Core ETF	1.31%	1.37%	1.86%	1.60%	0.75%	0.21%	0.62%
MFUL Mindful Conservative ETF	3.01%	3.31%	2.59%	5.00%	0.29%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LCR and MFUL in my portfolio?

LCR and MFUL have a correlation of 0.90, 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 MFUL?

LCR has higher volatility (2.08%) compared to MFUL (1.46%). In terms of maximum drawdown, LCR dropped -17.44% vs MFUL's -16.41%.

Which ETF is better, LCR or MFUL?

On 3-year performance, LCR leads with 11.32% vs 4.96% for MFUL. On fees, LCR is cheaper at 0.79% per year. On volatility, MFUL has been the lower-risk option at 1.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LCR or MFUL?

Over the 3-year period, LCR has performed better with a 11.32% return vs 4.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LCR or MFUL?

LCR is cheaper with a 0.79% expense ratio, compared with 1.10% for MFUL.

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

MFUL has the higher dividend yield at 3.01%, compared with 1.31% for LCR.

What is the main difference between LCR and MFUL?

They also come from different issuers: The Leuthold Group LLC and Mohr Funds. Their fees differ too: 0.79% for LCR and 1.10% for MFUL.

Which has better risk-adjusted returns?

LCR currently has the higher Sharpe Ratio (1.89 vs 1.82), 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.