LGRO vs. REIT

Last updated Jun 26, 2026

LGRO (Level Four Large Cap Growth Active ETF) and REIT (ALPS Active REIT ETF) are both exchange-traded funds - LGRO is a Large Cap Growth Equities fund actively managed by ALPS, while REIT is a REIT fund actively managed by ALPS. Both are actively managed. Over the past year, LGRO returned 16.98% vs 20.04% for REIT. At a 0.35 correlation, their price movements are largely independent. LGRO charges 0.50%/yr vs 0.68%/yr for REIT.

Performance

LGRO vs. REIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Level Four Large Cap Growth Active ETF (LGRO) and ALPS Active REIT ETF (REIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LGRO achieves a 2.90% return, which is significantly lower than REIT's 17.82% return.

LGRO

• 1D: -0.07%
• 1M: -1.60%
• YTD: 2.90%
• 6M: 1.93%
• 1Y: 16.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

REIT

• 1D: 0.46%
• 1M: 1.69%
• YTD: 17.82%
• 6M: 17.37%
• 1Y: 20.04%
• 3Y*: 11.80%
• 5Y*: 4.97%
• 10Y*: —

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

LGRO vs. REIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
LGRO Level Four Large Cap Growth Active ETF	2.90%	18.15%	23.95%	12.10%
REIT ALPS Active REIT ETF	17.82%	-0.55%	7.11%	12.62%

Correlation

The correlation between LGRO and REIT 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 (All Time) Calculated using the full available price history since Aug 23, 2023	0.35

Over the past year, the correlation between LGRO and REIT has dropped to 0.14 - well below their long-term average of 0.35, suggesting their price drivers have been diverging.

Return for Risk

LGRO vs. REIT — Risk / Return Rank

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

LGRO

LGRO Risk / Return Rank: 28
LGRO Sharpe Ratio Rank: 31
LGRO Sortino Ratio Rank: 29
LGRO Omega Ratio Rank: 29
LGRO Calmar Ratio Rank: 25
LGRO Martin Ratio Rank: 27

REIT

REIT Risk / Return Rank: 53
REIT Sharpe Ratio Rank: 51
REIT Sortino Ratio Rank: 47
REIT Omega Ratio Rank: 48
REIT Calmar Ratio Rank: 64
REIT Martin Ratio Rank: 54

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.

LGRO vs. REIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Level Four Large Cap Growth Active ETF (LGRO) and ALPS Active REIT ETF (REIT). 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.

	LGRO	REIT	Difference
Sharpe ratio: Return per unit of total volatility	1.06	1.54	-0.48
Sortino ratio: Return per unit of downside risk	1.50	2.08	-0.59
Omega ratio: Gain probability vs. loss probability	1.19	1.27	-0.08
Calmar ratio: Return relative to maximum drawdown	1.12	2.74	-1.62
Martin ratio: Return relative to average drawdown	3.52	8.10	-4.58

LGRO vs. REIT - Sharpe Ratio Comparison

The current LGRO Sharpe Ratio is 1.06, which is lower than the REIT Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of LGRO and REIT, 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

LGRO vs. REIT - Drawdown Comparison

The maximum LGRO drawdown since its inception was -23.26%, smaller than the maximum REIT drawdown of -29.30%. Use the drawdown chart below to compare losses from any high point for LGRO and REIT.

Drawdown Indicators

	LGRO	REIT	Difference
Max Drawdown Largest peak-to-trough decline	-23.26%	-29.30%	+6.04%
Max Drawdown (1Y) Largest decline over 1 year	-15.24%	-7.35%	-7.89%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.19%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-29.30%	—
Current Drawdown Current decline from peak	-6.62%	0.00%	-6.62%
Average Drawdown Average peak-to-trough decline	-3.42%	-10.27%	+6.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.83%	2.48%	+2.35%

Volatility

LGRO vs. REIT - Volatility Comparison

Level Four Large Cap Growth Active ETF (LGRO) has a higher volatility of 6.43% compared to ALPS Active REIT ETF (REIT) at 5.04%. This indicates that LGRO's price experiences larger fluctuations and is considered to be riskier than REIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LGRO	REIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.43%	5.04%	+1.39%
Volatility (6M) Calculated over the trailing 6-month period	12.22%	9.81%	+2.41%
Volatility (1Y) Calculated over the trailing 1-year period	16.15%	13.35%	+2.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.34%	18.51%	+0.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.34%	18.37%	+0.97%

LGRO vs. REIT - Expense Ratio Comparison

LGRO has a 0.50% expense ratio, which is lower than REIT's 0.68% expense ratio.

Dividends

LGRO vs. REIT - Dividend Comparison

LGRO's dividend yield for the trailing twelve months is around 0.37%, less than REIT's 2.70% yield.

Position	TTM	2025	2024	2023	2022	2021
LGRO Level Four Large Cap Growth Active ETF	0.37%	0.31%	0.39%	0.26%	0.00%	0.00%
REIT ALPS Active REIT ETF	2.70%	3.20%	3.06%	3.13%	2.81%	4.71%

Frequently Asked Questions

Can I hold both LGRO and REIT in my portfolio?

LGRO and REIT 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, LGRO or REIT?

LGRO has higher volatility (6.43%) compared to REIT (5.04%). In terms of maximum drawdown, LGRO dropped -23.26% vs REIT's -29.30%.

Which ETF is better, LGRO or REIT?

On 1-year performance, REIT leads with 20.04% vs 16.98% for LGRO. On fees, LGRO is cheaper at 0.50% per year. On volatility, REIT has been the lower-risk option at 5.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LGRO or REIT?

Over the 1-year period, REIT has performed better with a 20.04% return vs 16.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LGRO or REIT?

LGRO is cheaper with a 0.50% expense ratio, compared with 0.68% for REIT.

Which ETF pays a higher dividend yield, LGRO or REIT?

REIT has the higher dividend yield at 2.70%, compared with 0.37% for LGRO.

What is the main difference between LGRO and REIT?

LGRO is categorized as Large Cap Growth Equities, while REIT is REIT. Their fees differ too: 0.50% for LGRO and 0.68% for REIT.

Which has better risk-adjusted returns?

REIT currently has the higher Sharpe Ratio (1.54 vs 1.06), 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.