LCSIX vs. FTLS

Last updated Jul 14, 2026

LCSIX (LoCorr Long/Short Commodity Strategies Fund) and FTLS (First Trust Long/Short Equity ETF) are both funds - LCSIX is a Systematic Trend fund managed by LoCorr Funds, while FTLS is a Long-Short fund actively managed by First Trust. Over the past 10 years, LCSIX returned 2.54%/yr vs 9.44%/yr for FTLS. At a correlation of -0.02, they often move in opposite directions. LCSIX charges 1.75%/yr vs 1.38%/yr for FTLS.

Performance

LCSIX vs. FTLS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LoCorr Long/Short Commodity Strategies Fund (LCSIX) and First Trust Long/Short Equity ETF (FTLS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

Over the past 10 years, LCSIX has underperformed FTLS with an annualized return of 2.54%, while FTLS has yielded a comparatively higher 9.44% annualized return.

LCSIX

• 1D: -0.12%
• 1M: -2.38%
• 6M: 0.47%
• YTD: 0.00%
• 1Y: -1.68%
• 3Y*: -2.20%
• 5Y*: 0.14%
• 10Y*: 2.54%

FTLS

• 1D: -0.12%
• 1M: 1.03%
• 6M: 4.78%
• YTD: 5.50%
• 1Y: 14.44%
• 3Y*: 13.68%
• 5Y*: 10.05%
• 10Y*: 9.44%

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

LCSIX vs. FTLS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LCSIX LoCorr Long/Short Commodity Strategies Fund	0.00%	1.13%	-8.29%	-3.07%	6.04%	14.90%	9.90%	-5.97%	15.16%	6.19%
FTLS First Trust Long/Short Equity ETF	5.50%	9.09%	18.80%	16.94%	-5.56%	19.65%	2.56%	16.16%	-4.81%	14.41%

Correlation

The correlation between LCSIX and FTLS is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (5Y) Calculated over the trailing 5-year period	0.09
Correlation (10Y) Calculated over the trailing 10-year period	0.01
Correlation (All Time) Calculated using the full available price history since Sep 10, 2014	-0.02

The correlation between LCSIX and FTLS shifts across timeframes, from -0.02 (all time) to 0.14 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

LCSIX vs. FTLS — Risk / Return Rank

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

LCSIX

LCSIX Risk / Return Rank: 2
LCSIX Sharpe Ratio Rank: 2
LCSIX Sortino Ratio Rank: 2
LCSIX Omega Ratio Rank: 2
LCSIX Calmar Ratio Rank: 2
LCSIX Martin Ratio Rank: 2

FTLS

FTLS Risk / Return Rank: 73
FTLS Sharpe Ratio Rank: 67
FTLS Sortino Ratio Rank: 69
FTLS Omega Ratio Rank: 66
FTLS Calmar Ratio Rank: 86
FTLS Martin Ratio Rank: 78

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.

LCSIX vs. FTLS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LoCorr Long/Short Commodity Strategies Fund (LCSIX) and First Trust Long/Short Equity ETF (FTLS). 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.

	LCSIX	FTLS	Difference
Sharpe ratio: Return per unit of total volatility	-0.27	1.74	-2.00
Sortino ratio: Return per unit of downside risk	-0.32	2.50	-2.82
Omega ratio: Gain probability vs. loss probability	0.96	1.31	-0.36
Calmar ratio: Return relative to maximum drawdown	-0.32	3.83	-4.15
Martin ratio: Return relative to average drawdown	-0.74	11.66	-12.40

LCSIX vs. FTLS - Sharpe Ratio Comparison

The current LCSIX Sharpe Ratio is -0.27, which is lower than the FTLS Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of LCSIX and FTLS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

LCSIX vs. FTLS - Drawdown Comparison

The maximum LCSIX drawdown since its inception was -25.13%, which is greater than FTLS's maximum drawdown of -20.54%. Use the drawdown chart below to compare losses from any high point for LCSIX and FTLS.

Drawdown Indicators

	LCSIX	FTLS	Difference
Max Drawdown Largest peak-to-trough decline	-25.13%	-20.54%	-4.59%
Max Drawdown (1Y) Largest decline over 1 year	-4.97%	-3.79%	-1.18%
Max Drawdown (3Y) Largest decline over 3 years	-11.60%	-11.69%	+0.09%
Max Drawdown (5Y) Largest decline over 5 years	-13.21%	-11.69%	-1.52%
Max Drawdown (10Y) Largest decline over 10 years	-13.54%	-20.54%	+7.00%
Current Drawdown Current decline from peak	-11.21%	-0.12%	-11.09%
Average Drawdown Average peak-to-trough decline	-6.39%	-2.68%	-3.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.14%	1.24%	+0.90%

Volatility

LCSIX vs. FTLS - Volatility Comparison

The current volatility for LoCorr Long/Short Commodity Strategies Fund (LCSIX) is 1.32%, while First Trust Long/Short Equity ETF (FTLS) has a volatility of 2.27%. This indicates that LCSIX experiences smaller price fluctuations and is considered to be less risky than FTLS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LCSIX	FTLS	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.32%	2.27%	-0.95%
Volatility (6M) Calculated over the trailing 6-month period	4.77%	5.97%	-1.20%
Volatility (1Y) Calculated over the trailing 1-year period	5.94%	8.37%	-2.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.51%	10.57%	-5.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.66%	11.22%	-4.56%

LCSIX vs. FTLS - Expense Ratio Comparison

LCSIX has a 1.75% expense ratio, which is higher than FTLS's 1.38% expense ratio.

Dividends

LCSIX vs. FTLS - Dividend Comparison

LCSIX's dividend yield for the trailing twelve months is around 2.32%, more than FTLS's 0.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTLS First Trust Long/Short Equity ETF	0.88%	1.07%	1.50%	1.49%	0.81%	0.01%	0.44%	0.83%	0.87%	0.43%	1.04%	0.49%
LCSIX LoCorr Long/Short Commodity Strategies Fund	2.32%	2.32%	2.75%	1.88%	10.75%	7.14%	2.94%	0.54%	12.36%	0.02%	3.21%	7.36%

Frequently Asked Questions

Can I hold both LCSIX and FTLS in my portfolio?

LCSIX and FTLS have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LCSIX or FTLS?

FTLS has higher volatility (2.27%) compared to LCSIX (1.32%). In terms of maximum drawdown, LCSIX dropped -25.13% vs FTLS's -20.54%.

Which has better risk-adjusted returns?

FTLS currently has the higher Sharpe Ratio (1.74 vs -0.27), 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.