LSAT vs. BERZ
Compare and contrast key facts about Leadershares Alphafactor Tactical Focused ETF (LSAT) and MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN (BERZ).
LSAT and BERZ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. LSAT is an actively managed fund by Redwood. It was launched on Oct 27, 2020. BERZ is a passively managed fund by BMO that tracks the performance of the Solactive FANG Innovation Index. It was launched on Aug 17, 2021.
Performance
LSAT vs. BERZ - Performance Comparison
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LSAT vs. BERZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
LSAT Leadershares Alphafactor Tactical Focused ETF | 1.40% | -1.54% | 18.16% | 13.64% | -12.99% | 3.46% |
BERZ MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN | 19.74% | -78.81% | -65.95% | -89.12% | 102.85% | -30.19% |
Returns By Period
In the year-to-date period, LSAT achieves a 1.40% return, which is significantly lower than BERZ's 19.74% return.
LSAT
- 1D
- 1.77%
- 1M
- -1.78%
- YTD
- 1.40%
- 6M
- -2.97%
- 1Y
- 0.13%
- 3Y*
- 9.21%
- 5Y*
- 5.57%
- 10Y*
- —
BERZ
- 1D
- -14.87%
- 1M
- 7.73%
- YTD
- 19.74%
- 6M
- -4.91%
- 1Y
- -79.02%
- 3Y*
- -70.51%
- 5Y*
- —
- 10Y*
- —
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LSAT vs. BERZ - Expense Ratio Comparison
LSAT has a 0.99% expense ratio, which is higher than BERZ's 0.95% expense ratio.
Return for Risk
LSAT vs. BERZ — Risk / Return Rank
LSAT
BERZ
LSAT vs. BERZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leadershares Alphafactor Tactical Focused ETF (LSAT) and MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN (BERZ). 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.
| LSAT | BERZ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.01 | -0.84 | +0.85 |
Sortino ratioReturn per unit of downside risk | 0.13 | -1.52 | +1.65 |
Omega ratioGain probability vs. loss probability | 1.02 | 0.81 | +0.21 |
Calmar ratioReturn relative to maximum drawdown | 0.07 | -0.88 | +0.95 |
Martin ratioReturn relative to average drawdown | 0.21 | -1.00 | +1.21 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| LSAT | BERZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.01 | -0.84 | +0.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.34 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | -0.66 | +1.31 |
Correlation
The correlation between LSAT and BERZ is -0.47. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
LSAT vs. BERZ - Dividend Comparison
LSAT's dividend yield for the trailing twelve months is around 1.87%, while BERZ has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
LSAT Leadershares Alphafactor Tactical Focused ETF | 1.87% | 1.90% | 1.31% | 1.85% | 0.36% | 3.44% | 0.30% |
BERZ MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
LSAT vs. BERZ - Drawdown Comparison
The maximum LSAT drawdown since its inception was -20.48%, smaller than the maximum BERZ drawdown of -99.46%. Use the drawdown chart below to compare losses from any high point for LSAT and BERZ.
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Drawdown Indicators
| LSAT | BERZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.48% | -99.46% | +78.98% |
Max Drawdown (1Y)Largest decline over 1 year | -13.54% | -89.01% | +75.47% |
Max Drawdown (5Y)Largest decline over 5 years | -20.48% | — | — |
Current DrawdownCurrent decline from peak | -6.77% | -99.28% | +92.51% |
Average DrawdownAverage peak-to-trough decline | -5.68% | -70.50% | +64.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.22% | 78.74% | -74.52% |
Volatility
LSAT vs. BERZ - Volatility Comparison
The current volatility for Leadershares Alphafactor Tactical Focused ETF (LSAT) is 4.05%, while MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN (BERZ) has a volatility of 29.36%. This indicates that LSAT experiences smaller price fluctuations and is considered to be less risky than BERZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LSAT | BERZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.05% | 29.36% | -25.31% |
Volatility (6M)Calculated over the trailing 6-month period | 9.35% | 61.12% | -51.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.26% | 94.14% | -76.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.28% | 92.55% | -76.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.90% | 92.55% | -75.65% |