LPEFX vs. PSP

Last updated Jun 23, 2026

LPEFX (ALPS/Red Rocks Global Opportunity Fund) and PSP (Invesco Global Listed Private Equity ETF) are both Global Equities funds. Over the past 10 years, LPEFX returned 9.15%/yr vs 8.10%/yr for PSP. Their correlation of 0.85 suggests significant overlap in exposure. LPEFX charges 1.46%/yr vs 1.44%/yr for PSP.

Performance

LPEFX vs. PSP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ALPS/Red Rocks Global Opportunity Fund (LPEFX) and Invesco Global Listed Private Equity ETF (PSP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LPEFX achieves a -7.03% return, which is significantly higher than PSP's -13.99% return. Over the past 10 years, LPEFX has outperformed PSP with an annualized return of 9.15%, while PSP has yielded a comparatively lower 8.10% annualized return.

LPEFX

• 1D: 0.00%
• 1M: 1.34%
• YTD: -7.03%
• 6M: -7.68%
• 1Y: -3.95%
• 3Y*: 8.37%
• 5Y*: 2.59%
• 10Y*: 9.15%

PSP

• 1D: -1.20%
• 1M: -5.07%
• YTD: -13.99%
• 6M: -14.15%
• 1Y: -7.92%
• 3Y*: 10.25%
• 5Y*: -0.06%
• 10Y*: 8.10%

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

LPEFX vs. PSP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LPEFX ALPS/Red Rocks Global Opportunity Fund	-7.03%	1.25%	17.78%	28.31%	-28.82%	23.70%	9.35%	49.57%	-12.60%	27.02%
PSP Invesco Global Listed Private Equity ETF	-13.99%	6.49%	17.42%	37.72%	-37.37%	27.30%	12.47%	35.73%	-15.12%	24.13%

Correlation

The correlation between LPEFX and PSP is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Dec 31, 2007	0.85

The correlation between LPEFX and PSP has been stable across timeframes, ranging from 0.85 to 0.94 - a consistent structural relationship.

LPEFX vs. PSP - Sectors Allocation Comparison

Sectors	LPEFX	PSP
Financial Services	67.1%	90.9%
Industrials	11.3%	3.2%
Technology	10.7%	0.1%
Consumer Cyclical	5.2%	-
Consumer Defensive	3.6%	5.3%
Communication Services	2.1%	1.0%
Basic Materials	-	0.1%
Energy	-	-
Healthcare	-	0.5%
Real Estate	-	-
Utilities	-	-

Return for Risk

LPEFX vs. PSP — Risk / Return Rank

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

LPEFX

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

PSP

PSP Risk / Return Rank: 5
PSP Sharpe Ratio Rank: 5
PSP Sortino Ratio Rank: 5
PSP Omega Ratio Rank: 5
PSP Calmar Ratio Rank: 6
PSP Martin Ratio Rank: 5

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.

LPEFX vs. PSP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS/Red Rocks Global Opportunity Fund (LPEFX) and Invesco Global Listed Private Equity ETF (PSP). 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.

	LPEFX	PSP	Difference
Sharpe ratio: Return per unit of total volatility	-0.23	-0.40	+0.16
Sortino ratio: Return per unit of downside risk	-0.20	-0.42	+0.22
Omega ratio: Gain probability vs. loss probability	0.98	0.95	+0.03
Calmar ratio: Return relative to maximum drawdown	-0.19	-0.36	+0.16
Martin ratio: Return relative to average drawdown	-0.44	-0.77	+0.32

LPEFX vs. PSP - Sharpe Ratio Comparison

The current LPEFX Sharpe Ratio is -0.23, which is higher than the PSP Sharpe Ratio of -0.40. The chart below compares the historical Sharpe Ratios of LPEFX and PSP, 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

LPEFX vs. PSP - Drawdown Comparison

The maximum LPEFX drawdown since its inception was -77.00%, smaller than the maximum PSP drawdown of -85.40%. Use the drawdown chart below to compare losses from any high point for LPEFX and PSP.

Drawdown Indicators

	LPEFX	PSP	Difference
Max Drawdown Largest peak-to-trough decline	-77.00%	-85.40%	+8.40%
Max Drawdown (1Y) Largest decline over 1 year	-22.00%	-22.37%	+0.37%
Max Drawdown (3Y) Largest decline over 3 years	-22.00%	-22.94%	+0.94%
Max Drawdown (5Y) Largest decline over 5 years	-49.19%	-47.16%	-2.03%
Max Drawdown (10Y) Largest decline over 10 years	-49.19%	-47.16%	-2.03%
Current Drawdown Current decline from peak	-18.75%	-18.19%	-0.56%
Average Drawdown Average peak-to-trough decline	-22.75%	-30.65%	+7.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.62%	10.34%	-0.72%

Volatility

LPEFX vs. PSP - Volatility Comparison

The current volatility for ALPS/Red Rocks Global Opportunity Fund (LPEFX) is 6.08%, while Invesco Global Listed Private Equity ETF (PSP) has a volatility of 7.14%. This indicates that LPEFX experiences smaller price fluctuations and is considered to be less risky than PSP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LPEFX	PSP	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.08%	7.14%	-1.06%
Volatility (6M) Calculated over the trailing 6-month period	14.94%	16.58%	-1.64%
Volatility (1Y) Calculated over the trailing 1-year period	18.24%	20.17%	-1.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.61%	23.85%	+0.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.89%	22.46%	+0.43%

LPEFX vs. PSP - Expense Ratio Comparison

LPEFX has a 1.46% expense ratio, which is higher than PSP's 1.44% expense ratio.

Dividends

LPEFX vs. PSP - Dividend Comparison

LPEFX's dividend yield for the trailing twelve months is around 16.54%, more than PSP's 8.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LPEFX ALPS/Red Rocks Global Opportunity Fund	16.54%	15.38%	15.95%	5.56%	0.00%	26.79%	3.96%	21.96%	4.58%	13.29%	1.55%	8.21%
PSP Invesco Global Listed Private Equity ETF	8.82%	5.87%	8.62%	3.96%	2.88%	10.34%	4.66%	5.87%	6.81%	10.18%	4.12%	6.23%

Frequently Asked Questions

Can I hold both LPEFX and PSP in my portfolio?

With a correlation of 0.94, LPEFX and PSP 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, LPEFX or PSP?

PSP has higher volatility (7.14%) compared to LPEFX (6.08%). In terms of maximum drawdown, LPEFX dropped -77.00% vs PSP's -85.40%.

Which has better risk-adjusted returns?

LPEFX currently has the higher Sharpe Ratio (-0.23 vs -0.40), 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.