LCTIX vs. MCFIX

Last updated Jun 24, 2026

LCTIX (Leader Capital High Quality Income Fund Institutional Shares) and MCFIX (Mercer Core Fixed Income Fund) are both Intermediate Core-Plus Bond funds. Over the past 5 years, LCTIX returned 5.18%/yr vs -0.22%/yr for MCFIX. At a 0.09 correlation, their price movements are largely independent. LCTIX charges 1.08%/yr vs 0.16%/yr for MCFIX.

Performance

LCTIX vs. MCFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leader Capital High Quality Income Fund Institutional Shares (LCTIX) and Mercer Core Fixed Income Fund (MCFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LCTIX achieves a 2.03% return, which is significantly higher than MCFIX's -1.32% return.

LCTIX

• 1D: -0.18%
• 1M: 0.81%
• YTD: 2.03%
• 6M: 2.43%
• 1Y: 5.42%
• 3Y*: 6.23%
• 5Y*: 5.18%
• 10Y*: 5.33%

MCFIX

• 1D: -0.34%
• 1M: 0.23%
• YTD: -1.32%
• 6M: -0.85%
• 1Y: 1.85%
• 3Y*: 3.61%
• 5Y*: -0.22%
• 10Y*: —

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

LCTIX vs. MCFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
LCTIX Leader Capital High Quality Income Fund Institutional Shares	2.03%	5.12%	6.49%	8.47%	2.64%	2.41%	12.94%	0.71%
MCFIX Mercer Core Fixed Income Fund	-1.32%	6.64%	2.02%	6.47%	-13.69%	-1.05%	4.75%	3.31%

Correlation

The correlation between LCTIX and MCFIX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.14
Correlation (All Time) Calculated using the full available price history since Apr 12, 2019	0.09

Over the past year, LCTIX and MCFIX have become more correlated (0.47) than their long-term average of 0.09, meaning their price movements have been converging.

Return for Risk

LCTIX vs. MCFIX — Risk / Return Rank

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

LCTIX

LCTIX Risk / Return Rank: 94
LCTIX Sharpe Ratio Rank: 89
LCTIX Sortino Ratio Rank: 98
LCTIX Omega Ratio Rank: 97
LCTIX Calmar Ratio Rank: 92
LCTIX Martin Ratio Rank: 94

MCFIX

MCFIX Risk / Return Rank: 7
MCFIX Sharpe Ratio Rank: 8
MCFIX Sortino Ratio Rank: 7
MCFIX Omega Ratio Rank: 7
MCFIX Calmar Ratio Rank: 7
MCFIX Martin Ratio Rank: 7

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.

LCTIX vs. MCFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leader Capital High Quality Income Fund Institutional Shares (LCTIX) and Mercer Core Fixed Income Fund (MCFIX). 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.

	LCTIX	MCFIX	Difference
Sharpe ratio: Return per unit of total volatility	2.70	0.61	+2.09
Sortino ratio: Return per unit of downside risk	5.82	0.90	+4.92
Omega ratio: Gain probability vs. loss probability	1.95	1.11	+0.84
Calmar ratio: Return relative to maximum drawdown	4.65	0.65	+3.99
Martin ratio: Return relative to average drawdown	19.73	1.69	+18.04

LCTIX vs. MCFIX - Sharpe Ratio Comparison

The current LCTIX Sharpe Ratio is 2.70, which is higher than the MCFIX Sharpe Ratio of 0.61. The chart below compares the historical Sharpe Ratios of LCTIX and MCFIX, 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

LCTIX vs. MCFIX - Drawdown Comparison

The maximum LCTIX drawdown since its inception was -24.76%, which is greater than MCFIX's maximum drawdown of -21.68%. Use the drawdown chart below to compare losses from any high point for LCTIX and MCFIX.

Drawdown Indicators

	LCTIX	MCFIX	Difference
Max Drawdown Largest peak-to-trough decline	-24.76%	-21.68%	-3.08%
Max Drawdown (1Y) Largest decline over 1 year	-1.17%	-3.75%	+2.58%
Max Drawdown (3Y) Largest decline over 3 years	-1.29%	-6.32%	+5.03%
Max Drawdown (5Y) Largest decline over 5 years	-3.70%	-18.72%	+15.02%
Max Drawdown (10Y) Largest decline over 10 years	-23.61%	—	—
Current Drawdown Current decline from peak	-0.18%	-6.29%	+6.11%
Average Drawdown Average peak-to-trough decline	-3.84%	-8.52%	+4.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.28%	1.38%	-1.10%

Volatility

LCTIX vs. MCFIX - Volatility Comparison

The current volatility for Leader Capital High Quality Income Fund Institutional Shares (LCTIX) is 0.66%, while Mercer Core Fixed Income Fund (MCFIX) has a volatility of 1.03%. This indicates that LCTIX experiences smaller price fluctuations and is considered to be less risky than MCFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LCTIX	MCFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.66%	1.03%	-0.37%
Volatility (6M) Calculated over the trailing 6-month period	1.50%	2.78%	-1.28%
Volatility (1Y) Calculated over the trailing 1-year period	2.02%	4.05%	-2.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.25%	6.04%	-3.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.30%	6.10%	+0.20%

LCTIX vs. MCFIX - Expense Ratio Comparison

LCTIX has a 1.08% expense ratio, which is higher than MCFIX's 0.16% expense ratio.

Dividends

LCTIX vs. MCFIX - Dividend Comparison

LCTIX's dividend yield for the trailing twelve months is around 5.64%, more than MCFIX's 4.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
LCTIX Leader Capital High Quality Income Fund Institutional Shares	5.64%	5.90%	5.91%	5.50%	2.31%	1.93%	1.73%	2.92%	3.67%	2.56%
MCFIX Mercer Core Fixed Income Fund	4.32%	3.89%	4.54%	3.68%	3.31%	2.45%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LCTIX and MCFIX in my portfolio?

LCTIX and MCFIX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LCTIX or MCFIX?

MCFIX has higher volatility (1.03%) compared to LCTIX (0.66%). In terms of maximum drawdown, LCTIX dropped -24.76% vs MCFIX's -21.68%.

Which has better risk-adjusted returns?

LCTIX currently has the higher Sharpe Ratio (2.70 vs 0.61), 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.