LSAF vs. CGMM

Last updated Aug 2, 2026

LSAF (LeaderShares AlphaFactor US Core Equity ETF) and CGMM (Capital Group U.S. Small and Mid Cap ETF) are both Mid Cap Blend Equities funds. LSAF is passively managed, while CGMM is actively managed. Over the past year, LSAF returned 30.03% vs 18.91% for CGMM. Their correlation of 0.87 means they have usually moved in the same direction. LSAF charges 0.75%/yr vs 0.51%/yr for CGMM.

Performance

LSAF vs. CGMM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LeaderShares AlphaFactor US Core Equity ETF (LSAF) and Capital Group U.S. Small and Mid Cap ETF (CGMM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LSAF achieves a 19.96% return, which is significantly higher than CGMM's 10.85% return.

LSAF

• 1D: -0.55%
• 1M: 2.49%
• 6M: 17.23%
• YTD: 19.96%
• 1Y: 30.03%
• 3Y*: 18.58%
• 5Y*: 10.90%
• 10Y*: —
• ALL TIME*: 11.02%

CGMM

• 1D: -0.68%
• 1M: -2.41%
• 6M: 6.78%
• YTD: 10.85%
• 1Y: 18.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.22%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CGMM Capital Group U.S. Small and Mid Cap ETF	$22.37M	$23.07M	$30.55M
LSAF LeaderShares AlphaFactor US Core Equity ETF	$265.84K	$205.64K	$201.86K

LSAF vs. CGMM - Yearly Performance Comparison

	2026 (YTD)	2025
LSAF LeaderShares AlphaFactor US Core Equity ETF	19.96%	7.98%
CGMM Capital Group U.S. Small and Mid Cap ETF	10.85%	12.15%

Correlation

The correlation between LSAF and CGMM is 0.84, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.84
Correlation (All Time) Calculated using the full available price history since Jan 16, 2025	0.87

The correlation between LSAF and CGMM has been stable across timeframes, ranging from 0.84 to 0.87 - a consistent structural relationship.

LSAF vs. CGMM - Sectors Allocation Comparison

Sectors	LSAF	CGMM
Consumer Cyclical	19.9%	12.7%
Financial Services	16.2%	16.2%
Technology	15.4%	18.7%
Industrials	10.7%	21.7%
Healthcare	7.8%	11.7%
Basic Materials	5.8%	3.0%
Communication Services	4.7%	2.4%
Consumer Defensive	4.1%	5.3%
Energy	3.3%	2.7%
Real Estate	2.1%	2.6%
Utilities	0.9%	3.0%

Return for Risk

LSAF vs. CGMM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

LSAF

LSAF Risk / Return Rank: 88
LSAF Sharpe Ratio Rank: 85
LSAF Sortino Ratio Rank: 87
LSAF Omega Ratio Rank: 82
LSAF Calmar Ratio Rank: 93
LSAF Martin Ratio Rank: 91

CGMM

CGMM Risk / Return Rank: 44
CGMM Sharpe Ratio Rank: 41
CGMM Sortino Ratio Rank: 42
CGMM Omega Ratio Rank: 38
CGMM Calmar Ratio Rank: 45
CGMM Martin Ratio Rank: 53

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

LSAF vs. CGMM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LeaderShares AlphaFactor US Core Equity ETF (LSAF) and Capital Group U.S. Small and Mid Cap ETF (CGMM). 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.

	LSAF	CGMM	Difference
Sharpe ratio: Return per unit of total volatility	2.03	1.03	+1.00
Sortino ratio: Return per unit of downside risk	2.98	1.57	+1.41
Omega ratio: Gain probability vs. loss probability	1.35	1.18	+0.17
Calmar ratio: Return relative to maximum drawdown	4.41	1.63	+2.78
Martin ratio: Return relative to average drawdown	14.86	6.14	+8.72

LSAF vs. CGMM - Sharpe Ratio Comparison

The current LSAF Sharpe Ratio is 2.03, which is higher than the CGMM Sharpe Ratio of 1.03. The chart below compares the historical Sharpe Ratios of LSAF and CGMM, 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

LSAF vs. CGMM - Drawdown Comparison

The maximum LSAF drawdown since its inception was -41.67%, which is greater than CGMM's maximum drawdown of -21.04%. Use the drawdown chart below to compare losses from any high point for LSAF and CGMM.

Drawdown Indicators

	LSAF	CGMM	Difference
Max Drawdown Largest peak-to-trough decline	-41.67%	-21.04%	-20.63%
Max Drawdown (1Y) Largest decline over 1 year	-6.58%	-10.09%	+3.51%
Max Drawdown (3Y) Largest decline over 3 years	-20.26%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-24.94%	—	—
Current Drawdown Current decline from peak	-1.48%	-3.15%	+1.67%
Average Drawdown Average peak-to-trough decline	-6.21%	-3.08%	-3.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	2.69%	-0.74%

Volatility

LSAF vs. CGMM - Volatility Comparison

LeaderShares AlphaFactor US Core Equity ETF (LSAF) has a higher volatility of 4.21% compared to Capital Group U.S. Small and Mid Cap ETF (CGMM) at 3.60%. This indicates that LSAF's price experiences larger fluctuations and is considered to be riskier than CGMM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LSAF	CGMM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.21%	3.60%	+0.61%
Volatility (6M) Calculated over the trailing 6-month period	10.49%	11.97%	-1.48%
Volatility (1Y) Calculated over the trailing 1-year period	14.36%	16.13%	-1.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.38%	19.76%	-1.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.73%	19.76%	+1.97%

LSAF vs. CGMM - Expense Ratio Comparison

LSAF has a 0.75% expense ratio, which is higher than CGMM's 0.51% expense ratio.

Dividends

LSAF vs. CGMM - Dividend Comparison

LSAF's dividend yield for the trailing twelve months is around 0.57%, more than CGMM's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CGMM Capital Group U.S. Small and Mid Cap ETF	0.38%	0.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
LSAF LeaderShares AlphaFactor US Core Equity ETF	0.57%	0.69%	0.42%	0.84%	0.96%	0.37%	0.53%	0.71%	0.20%

Frequently Asked Questions

Can I hold both LSAF and CGMM in my portfolio?

LSAF and CGMM have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LSAF or CGMM?

LSAF has higher volatility (4.21%) compared to CGMM (3.60%). In terms of maximum drawdown, LSAF dropped -41.67% vs CGMM's -21.04%.

Which ETF is better, LSAF or CGMM?

On 1-year performance, LSAF leads with 30.03% vs 18.91% for CGMM. On fees, CGMM is cheaper at 0.51% per year. On volatility, CGMM has been the lower-risk option at 3.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LSAF or CGMM?

Over the 1-year period, LSAF has performed better with a 30.03% return vs 18.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LSAF or CGMM?

CGMM is cheaper with a 0.51% expense ratio, compared with 0.75% for LSAF.

Which ETF pays a higher dividend yield, LSAF or CGMM?

LSAF has the higher dividend yield at 0.57%, compared with 0.38% for CGMM.

What is the main difference between LSAF and CGMM?

They also come from different issuers: Redwood and Capital Group. Their fees differ too: 0.75% for LSAF and 0.51% for CGMM.

Which has better risk-adjusted returns?

LSAF currently has the higher Sharpe Ratio (2.03 vs 1.03), 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.