LCR vs. SPLS

Last updated Jun 25, 2026

LCR (Leuthold Core ETF) and SPLS (PIMCO U.S. Stocks PLUS Active Bond ETF) are both Diversified Portfolio funds. Both are actively managed. Their correlation of 0.92 suggests significant overlap in exposure. LCR charges 0.79%/yr vs 0.18%/yr for SPLS.

Performance

LCR vs. SPLS - Performance Comparison

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

Returns By Period

LCR

• 1D: -0.08%
• 1M: 0.18%
• YTD: 3.16%
• 6M: 2.28%
• 1Y: 11.39%
• 3Y*: 10.55%
• 5Y*: 6.62%
• 10Y*: —

SPLS

• 1D: -0.24%
• 1M: -1.52%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LCR vs. SPLS - Yearly Performance Comparison

	2026 (YTD)
LCR Leuthold Core ETF	1.80%
SPLS PIMCO U.S. Stocks PLUS Active Bond ETF	6.49%

Correlation

The correlation between LCR and SPLS is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 16, 2026	0.92

Return for Risk

LCR vs. SPLS — Risk / Return Rank

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

LCR

LCR Risk / Return Rank: 46
LCR Sharpe Ratio Rank: 47
LCR Sortino Ratio Rank: 47
LCR Omega Ratio Rank: 45
LCR Calmar Ratio Rank: 42
LCR Martin Ratio Rank: 51

SPLS

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

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. SPLS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leuthold Core ETF (LCR) and PIMCO U.S. Stocks PLUS Active Bond ETF (SPLS). 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.

	LCR	SPLS	Difference
Sharpe ratio: Return per unit of total volatility	1.46	—	—
Sortino ratio: Return per unit of downside risk	2.10	—	—
Omega ratio: Gain probability vs. loss probability	1.26	—	—
Calmar ratio: Return relative to maximum drawdown	1.90	—	—
Martin ratio: Return relative to average drawdown	7.72	—	—

Drawdowns

LCR vs. SPLS - Drawdown Comparison

The maximum LCR drawdown since its inception was -17.44%, which is greater than SPLS's maximum drawdown of -9.24%. Use the drawdown chart below to compare losses from any high point for LCR and SPLS.

Drawdown Indicators

	LCR	SPLS	Difference
Max Drawdown Largest peak-to-trough decline	-17.44%	-9.24%	-8.20%
Max Drawdown (1Y) Largest decline over 1 year	-6.02%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-8.59%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-13.40%	—	—
Current Drawdown Current decline from peak	-1.39%	-3.29%	+1.90%
Average Drawdown Average peak-to-trough decline	-2.82%	-1.88%	-0.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.48%	—	—

Volatility

Volatility by Period

	LCR	SPLS	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.89%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.40%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	7.86%	15.55%	-7.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.08%	15.55%	-6.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.40%	15.55%	-4.15%

LCR vs. SPLS - Expense Ratio Comparison

LCR has a 0.79% expense ratio, which is higher than SPLS's 0.18% expense ratio.

Dividends

LCR vs. SPLS - Dividend Comparison

LCR's dividend yield for the trailing twelve months is around 1.33%, more than SPLS's 0.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
LCR Leuthold Core ETF	1.33%	1.37%	1.86%	1.60%	0.75%	0.21%	0.62%
SPLS PIMCO U.S. Stocks PLUS Active Bond ETF	0.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LCR and SPLS in my portfolio?

With a correlation of 0.92, LCR and SPLS move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, LCR or SPLS?

On fees, SPLS is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LCR or SPLS?

SPLS is cheaper with a 0.18% expense ratio, compared with 0.79% for LCR.

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

LCR has the higher dividend yield at 1.33%, compared with 0.22% for SPLS.

What is the main difference between LCR and SPLS?

They also come from different issuers: The Leuthold Group LLC and PIMCO. Their fees differ too: 0.79% for LCR and 0.18% for SPLS.