LFEQ vs. PBUS

Last updated Jun 24, 2026

LFEQ (VanEck Long/Flat Trend ETF) and PBUS (Invesco PureBeta MSCI USA ETF) are both Large Cap Growth Equities funds - LFEQ tracks the Ned Davis Research CMG US Large Cap Long/Flat Index - USD while PBUS tracks the MSCI USA Index. Both are passively managed. Over the past 5 years, LFEQ returned 9.18%/yr vs 12.60%/yr for PBUS. Their correlation of 0.84 suggests significant overlap in exposure. LFEQ charges 0.58%/yr vs 0.04%/yr for PBUS.

Performance

LFEQ vs. PBUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Long/Flat Trend ETF (LFEQ) and Invesco PureBeta MSCI USA ETF (PBUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with LFEQ having a 7.96% return and PBUS slightly higher at 8.10%.

LFEQ

• 1D: -1.29%
• 1M: -1.28%
• YTD: 7.96%
• 6M: 7.08%
• 1Y: 22.91%
• 3Y*: 16.77%
• 5Y*: 9.18%
• 10Y*: —

PBUS

• 1D: -1.41%
• 1M: -1.27%
• YTD: 8.10%
• 6M: 7.04%
• 1Y: 23.30%
• 3Y*: 20.88%
• 5Y*: 12.60%
• 10Y*: —

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

LFEQ vs. PBUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LFEQ VanEck Long/Flat Trend ETF	7.96%	10.49%	24.30%	19.66%	-22.05%	27.97%	17.56%	24.07%	-5.55%	5.48%
PBUS Invesco PureBeta MSCI USA ETF	8.10%	17.58%	24.99%	27.33%	-19.64%	26.77%	21.75%	31.60%	-4.77%	5.98%

Correlation

The correlation between LFEQ and PBUS is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (All Time) Calculated using the full available price history since Oct 5, 2017	0.84

The correlation between LFEQ and PBUS shifts across timeframes, from 0.84 (all time) to 0.99 (1 year), reflecting how their relationship changes across market environments.

LFEQ vs. PBUS - Sectors Allocation Comparison

Sectors	LFEQ	PBUS
Technology	35.7%	38.9%
Financial Services	11.6%	10.9%
Communication Services	11.3%	10.7%
Consumer Cyclical	10.2%	9.9%
Healthcare	8.5%	8.4%
Industrials	8.3%	8.1%
Consumer Defensive	4.9%	4.4%
Energy	3.5%	3.2%
Utilities	2.4%	2.0%
Real Estate	1.9%	1.8%
Basic Materials	1.8%	1.7%

Return for Risk

LFEQ vs. PBUS — Risk / Return Rank

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

LFEQ

LFEQ Risk / Return Rank: 60
LFEQ Sharpe Ratio Rank: 60
LFEQ Sortino Ratio Rank: 58
LFEQ Omega Ratio Rank: 58
LFEQ Calmar Ratio Rank: 56
LFEQ Martin Ratio Rank: 67

PBUS

PBUS Risk / Return Rank: 58
PBUS Sharpe Ratio Rank: 58
PBUS Sortino Ratio Rank: 56
PBUS Omega Ratio Rank: 57
PBUS Calmar Ratio Rank: 56
PBUS Martin Ratio Rank: 66

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.

LFEQ vs. PBUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Long/Flat Trend ETF (LFEQ) and Invesco PureBeta MSCI USA ETF (PBUS). 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.

	LFEQ	PBUS	Difference
Sharpe ratio: Return per unit of total volatility	1.84	1.84	0.00
Sortino ratio: Return per unit of downside risk	2.53	2.50	+0.03
Omega ratio: Gain probability vs. loss probability	1.33	1.33	0.00
Calmar ratio: Return relative to maximum drawdown	2.56	2.59	-0.03
Martin ratio: Return relative to average drawdown	11.38	11.32	+0.07

LFEQ vs. PBUS - Sharpe Ratio Comparison

The current LFEQ Sharpe Ratio is 1.84, which is comparable to the PBUS Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of LFEQ and PBUS, 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

LFEQ vs. PBUS - Drawdown Comparison

The maximum LFEQ drawdown since its inception was -35.19%, which is greater than PBUS's maximum drawdown of -33.15%. Use the drawdown chart below to compare losses from any high point for LFEQ and PBUS.

Drawdown Indicators

	LFEQ	PBUS	Difference
Max Drawdown Largest peak-to-trough decline	-35.19%	-33.15%	-2.04%
Max Drawdown (1Y) Largest decline over 1 year	-8.98%	-9.02%	+0.04%
Max Drawdown (3Y) Largest decline over 3 years	-18.97%	-19.07%	+0.10%
Max Drawdown (5Y) Largest decline over 5 years	-25.55%	-25.40%	-0.15%
Current Drawdown Current decline from peak	-3.00%	-3.08%	+0.08%
Average Drawdown Average peak-to-trough decline	-6.13%	-5.11%	-1.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.02%	2.06%	-0.04%

Volatility

LFEQ vs. PBUS - Volatility Comparison

The current volatility for VanEck Long/Flat Trend ETF (LFEQ) is 4.60%, while Invesco PureBeta MSCI USA ETF (PBUS) has a volatility of 5.01%. This indicates that LFEQ experiences smaller price fluctuations and is considered to be less risky than PBUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LFEQ	PBUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.60%	5.01%	-0.41%
Volatility (6M) Calculated over the trailing 6-month period	9.88%	10.10%	-0.22%
Volatility (1Y) Calculated over the trailing 1-year period	12.54%	12.77%	-0.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.46%	17.16%	-2.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.59%	19.34%	-1.75%

LFEQ vs. PBUS - Expense Ratio Comparison

LFEQ has a 0.58% expense ratio, which is higher than PBUS's 0.04% expense ratio.

Dividends

LFEQ vs. PBUS - Dividend Comparison

LFEQ's dividend yield for the trailing twelve months is around 0.84%, less than PBUS's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
LFEQ VanEck Long/Flat Trend ETF	0.84%	0.90%	0.74%	1.56%	1.19%	0.37%	2.06%	1.45%	1.07%	0.79%
PBUS Invesco PureBeta MSCI USA ETF	1.04%	1.05%	1.20%	1.36%	1.71%	0.98%	1.35%	1.53%	2.33%	0.50%

Frequently Asked Questions

Can I hold both LFEQ and PBUS in my portfolio?

With a correlation of 0.99, LFEQ and PBUS 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 is riskier, LFEQ or PBUS?

PBUS has higher volatility (5.01%) compared to LFEQ (4.60%). In terms of maximum drawdown, LFEQ dropped -35.19% vs PBUS's -33.15%.

Which ETF is better, LFEQ or PBUS?

On 5-year performance, PBUS leads with 12.60% vs 9.18% for LFEQ. On fees, PBUS is cheaper at 0.04% per year. On volatility, LFEQ has been the lower-risk option at 4.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LFEQ or PBUS?

Over the 5-year period, PBUS has performed better with a 12.60% return vs 9.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LFEQ or PBUS?

PBUS is cheaper with a 0.04% expense ratio, compared with 0.58% for LFEQ.

Which ETF pays a higher dividend yield, LFEQ or PBUS?

PBUS has the higher dividend yield at 1.04%, compared with 0.84% for LFEQ.

What is the main difference between LFEQ and PBUS?

LFEQ tracks Ned Davis Research CMG US Large Cap Long/Flat Index - USD, while PBUS tracks MSCI USA Index. They also come from different issuers: VanEck and Invesco. Their fees differ too: 0.58% for LFEQ and 0.04% for PBUS.

Which has better risk-adjusted returns?

LFEQ currently has the higher Sharpe Ratio (1.84 vs 1.84), 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.