LSAT vs. SBIL

Last updated Jul 17, 2026

LSAT (Leadershares Alphafactor Tactical Focused ETF) and SBIL (Simplify Government Money Market ETF) are both Money Market funds. Both are actively managed. Over the past year, LSAT returned 17.80% vs 3.82% for SBIL. At a 0.07 correlation, their price movements are largely independent. LSAT charges 0.99%/yr vs 0.15%/yr for SBIL.

Performance

LSAT vs. SBIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leadershares Alphafactor Tactical Focused ETF (LSAT) and Simplify Government Money Market ETF (SBIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LSAT achieves a 18.17% return, which is significantly higher than SBIL's 1.91% return.

LSAT

• 1D: 1.44%
• 1M: 5.68%
• 6M: 16.20%
• YTD: 18.17%
• 1Y: 17.80%
• 3Y*: 11.81%
• 5Y*: 7.80%
• 10Y*: —

SBIL

• 1D: 0.00%
• 1M: 0.28%
• 6M: 1.76%
• YTD: 1.91%
• 1Y: 3.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LSAT vs. SBIL - Yearly Performance Comparison

	2026 (YTD)	2025
LSAT Leadershares Alphafactor Tactical Focused ETF	18.17%	-1.72%
SBIL Simplify Government Money Market ETF	1.91%	1.88%

Correlation

The correlation between LSAT and SBIL is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.06
Correlation (All Time) Calculated using the full available price history since Jul 15, 2025	0.07

Return for Risk

LSAT vs. SBIL — Risk / Return Rank

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

LSAT

LSAT Risk / Return Rank: 49
LSAT Sharpe Ratio Rank: 49
LSAT Sortino Ratio Rank: 52
LSAT Omega Ratio Rank: 45
LSAT Calmar Ratio Rank: 56
LSAT Martin Ratio Rank: 41

SBIL

SBIL Risk / Return Rank: 100
SBIL Sharpe Ratio Rank: 100
SBIL Sortino Ratio Rank: 100
SBIL Omega Ratio Rank: 100
SBIL Calmar Ratio Rank: 100
SBIL Martin Ratio Rank: 100

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.

LSAT vs. SBIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leadershares Alphafactor Tactical Focused ETF (LSAT) and Simplify Government Money Market ETF (SBIL). 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.

	LSAT	SBIL	Difference
Sharpe ratio: Return per unit of total volatility	1.39	14.52	-13.14
Sortino ratio: Return per unit of downside risk	2.08	52.25	-50.17
Omega ratio: Gain probability vs. loss probability	1.24	11.71	-10.47
Calmar ratio: Return relative to maximum drawdown	2.25	128.05	-125.80
Martin ratio: Return relative to average drawdown	5.30	782.04	-776.74

LSAT vs. SBIL - Sharpe Ratio Comparison

The current LSAT Sharpe Ratio is 1.39, which is lower than the SBIL Sharpe Ratio of 14.52. The chart below compares the historical Sharpe Ratios of LSAT and SBIL, 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

LSAT vs. SBIL - Drawdown Comparison

The maximum LSAT drawdown since its inception was -20.48%, which is greater than SBIL's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for LSAT and SBIL.

Drawdown Indicators

	LSAT	SBIL	Difference
Max Drawdown Largest peak-to-trough decline	-20.48%	-0.03%	-20.45%
Max Drawdown (1Y) Largest decline over 1 year	-7.94%	-0.03%	-7.91%
Max Drawdown (3Y) Largest decline over 3 years	-18.25%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.48%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.45%	-0.00%	-5.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.37%	0.00%	+3.37%

Volatility

LSAT vs. SBIL - Volatility Comparison

Leadershares Alphafactor Tactical Focused ETF (LSAT) has a higher volatility of 4.13% compared to Simplify Government Money Market ETF (SBIL) at 0.04%. This indicates that LSAT's price experiences larger fluctuations and is considered to be riskier than SBIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LSAT	SBIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.13%	0.04%	+4.09%
Volatility (6M) Calculated over the trailing 6-month period	9.69%	0.18%	+9.51%
Volatility (1Y) Calculated over the trailing 1-year period	12.89%	0.26%	+12.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.27%	0.26%	+16.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.72%	0.26%	+16.46%

LSAT vs. SBIL - Expense Ratio Comparison

LSAT has a 0.99% expense ratio, which is higher than SBIL's 0.15% expense ratio.

Dividends

LSAT vs. SBIL - Dividend Comparison

LSAT's dividend yield for the trailing twelve months is around 1.61%, less than SBIL's 3.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
LSAT Leadershares Alphafactor Tactical Focused ETF	1.61%	1.90%	1.31%	1.85%	0.36%	3.44%	0.30%
SBIL Simplify Government Money Market ETF	3.55%	1.79%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LSAT and SBIL in my portfolio?

LSAT and SBIL have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LSAT or SBIL?

LSAT has higher volatility (4.13%) compared to SBIL (0.04%). In terms of maximum drawdown, LSAT dropped -20.48% vs SBIL's -0.03%.

Which ETF is better, LSAT or SBIL?

On 1-year performance, LSAT leads with 17.80% vs 3.82% for SBIL. On fees, SBIL is cheaper at 0.15% per year. On volatility, SBIL has been the lower-risk option at 0.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LSAT or SBIL?

Over the 1-year period, LSAT has performed better with a 17.80% return vs 3.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LSAT or SBIL?

SBIL is cheaper with a 0.15% expense ratio, compared with 0.99% for LSAT.

Which ETF pays a higher dividend yield, LSAT or SBIL?

SBIL has the higher dividend yield at 3.55%, compared with 1.61% for LSAT.

What is the main difference between LSAT and SBIL?

They also come from different issuers: Redwood and Simplify. Their fees differ too: 0.99% for LSAT and 0.15% for SBIL.

Which has better risk-adjusted returns?

SBIL currently has the higher Sharpe Ratio (14.52 vs 1.39), 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.