LSAF vs. DCMT

Last updated Jul 17, 2026

LSAF (LeaderShares AlphaFactor US Core Equity ETF) and DCMT (DoubleLine Commodity Strategy ETF) are both exchange-traded funds - LSAF is a Mid Cap Blend Equities fund tracking the AlphaFactor US Core Equity Index, while DCMT is a Commodities fund actively managed by DoubleLine. LSAF is passively managed, while DCMT is actively managed. Over the past year, LSAF returned 28.03% vs 29.43% for DCMT. At a correlation of -0.01, they often move in opposite directions. LSAF charges 0.75%/yr vs 0.66%/yr for DCMT.

Performance

LSAF vs. DCMT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LeaderShares AlphaFactor US Core Equity ETF (LSAF) and DoubleLine Commodity Strategy ETF (DCMT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LSAF achieves a 19.54% return, which is significantly lower than DCMT's 26.32% return.

LSAF

• 1D: 1.13%
• 1M: 3.75%
• 6M: 14.54%
• YTD: 19.54%
• 1Y: 28.03%
• 3Y*: 19.35%
• 5Y*: 11.58%
• 10Y*: —

DCMT

• 1D: -0.62%
• 1M: 2.50%
• 6M: 21.40%
• YTD: 26.32%
• 1Y: 29.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LSAF vs. DCMT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
LSAF LeaderShares AlphaFactor US Core Equity ETF	19.54%	12.01%	16.48%
DCMT DoubleLine Commodity Strategy ETF	26.32%	6.04%	3.65%

Correlation

The correlation between LSAF and DCMT is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.17
Correlation (All Time) Calculated using the full available price history since Feb 1, 2024	-0.01

The correlation between LSAF and DCMT shifts across timeframes, from -0.17 (1 year) to -0.01 (all time), reflecting how their relationship changes across market environments.

Return for Risk

LSAF vs. DCMT — Risk / Return Rank

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

LSAF

LSAF Risk / Return Rank: 81
LSAF Sharpe Ratio Rank: 77
LSAF Sortino Ratio Rank: 81
LSAF Omega Ratio Rank: 73
LSAF Calmar Ratio Rank: 90
LSAF Martin Ratio Rank: 86

DCMT

DCMT Risk / Return Rank: 52
DCMT Sharpe Ratio Rank: 58
DCMT Sortino Ratio Rank: 56
DCMT Omega Ratio Rank: 54
DCMT Calmar Ratio Rank: 44
DCMT Martin Ratio Rank: 49

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.

LSAF vs. DCMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LeaderShares AlphaFactor US Core Equity ETF (LSAF) and DoubleLine Commodity Strategy ETF (DCMT). 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	DCMT	Difference
Sharpe ratio: Return per unit of total volatility	1.98	1.58	+0.40
Sortino ratio: Return per unit of downside risk	2.90	2.18	+0.72
Omega ratio: Gain probability vs. loss probability	1.34	1.27	+0.07
Calmar ratio: Return relative to maximum drawdown	4.28	1.85	+2.43
Martin ratio: Return relative to average drawdown	14.13	6.54	+7.59

LSAF vs. DCMT - Sharpe Ratio Comparison

The current LSAF Sharpe Ratio is 1.98, which is comparable to the DCMT Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of LSAF and DCMT, 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. DCMT - Drawdown Comparison

The maximum LSAF drawdown since its inception was -41.67%, which is greater than DCMT's maximum drawdown of -15.96%. Use the drawdown chart below to compare losses from any high point for LSAF and DCMT.

Drawdown Indicators

	LSAF	DCMT	Difference
Max Drawdown Largest peak-to-trough decline	-41.67%	-15.96%	-25.71%
Max Drawdown (1Y) Largest decline over 1 year	-6.58%	-15.96%	+9.38%
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	0.00%	-9.33%	+9.33%
Average Drawdown Average peak-to-trough decline	-6.24%	-3.54%	-2.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.99%	4.51%	-2.52%

Volatility

LSAF vs. DCMT - Volatility Comparison

The current volatility for LeaderShares AlphaFactor US Core Equity ETF (LSAF) is 3.08%, while DoubleLine Commodity Strategy ETF (DCMT) has a volatility of 5.79%. This indicates that LSAF experiences smaller price fluctuations and is considered to be less risky than DCMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LSAF	DCMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.08%	5.79%	-2.71%
Volatility (6M) Calculated over the trailing 6-month period	10.39%	16.87%	-6.48%
Volatility (1Y) Calculated over the trailing 1-year period	14.22%	18.76%	-4.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.40%	16.01%	+2.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.76%	16.01%	+5.75%

LSAF vs. DCMT - Expense Ratio Comparison

LSAF has a 0.75% expense ratio, which is higher than DCMT's 0.66% expense ratio.

Dividends

LSAF vs. DCMT - Dividend Comparison

LSAF's dividend yield for the trailing twelve months is around 0.57%, less than DCMT's 2.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DCMT DoubleLine Commodity Strategy ETF	2.91%	3.67%	1.59%	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 DCMT in my portfolio?

LSAF and DCMT have a correlation of -0.17, 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 DCMT?

DCMT has higher volatility (5.79%) compared to LSAF (3.08%). In terms of maximum drawdown, LSAF dropped -41.67% vs DCMT's -15.96%.

Which ETF is better, LSAF or DCMT?

On 1-year performance, DCMT leads with 29.43% vs 28.03% for LSAF. On fees, DCMT is cheaper at 0.66% per year. On volatility, LSAF has been the lower-risk option at 3.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LSAF or DCMT?

Over the 1-year period, DCMT has performed better with a 29.43% return vs 28.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LSAF or DCMT?

DCMT is cheaper with a 0.66% expense ratio, compared with 0.75% for LSAF.

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

DCMT has the higher dividend yield at 2.91%, compared with 0.57% for LSAF.

What is the main difference between LSAF and DCMT?

LSAF is categorized as Mid Cap Blend Equities, while DCMT is Commodities. They also come from different issuers: Redwood and DoubleLine. Their fees differ too: 0.75% for LSAF and 0.66% for DCMT.

Which has better risk-adjusted returns?

LSAF currently has the higher Sharpe Ratio (1.98 vs 1.58), 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.