LSAT vs. SBIL

Last updated Apr 1, 2026

Compare and contrast key facts about Leadershares Alphafactor Tactical Focused ETF (LSAT) and Simplify Government Money Market ETF (SBIL).

LSAT and SBIL 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. SBIL is an actively managed fund by Simplify. It was launched on Jul 14, 2025.

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.

LSAT vs. SBIL - Yearly Performance Comparison

	2026 (YTD)	2025
LSAT Leadershares Alphafactor Tactical Focused ETF	1.40%	-0.24%
SBIL Simplify Government Money Market ETF	0.86%	1.88%

Returns By Period

In the year-to-date period, LSAT achieves a 1.40% return, which is significantly higher than SBIL's 0.86% return.

LSAT

• 1D: 1.77%
• 1M: -1.78%
• YTD: 1.40%
• 6M: -2.97%
• 1Y: 0.13%
• 3Y*: 9.21%
• 5Y*: 5.57%
• 10Y*: —

SBIL

• 1D: -0.00%
• 1M: 0.27%
• YTD: 0.86%
• 6M: 1.85%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LSAT vs. SBIL - Expense Ratio Comparison

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

LSAT

Leadershares Alphafactor Tactical Focused ETF

SBIL

Simplify Government Money Market ETF

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: 12
LSAT Sharpe Ratio Rank: 12
LSAT Sortino Ratio Rank: 12
LSAT Omega Ratio Rank: 12
LSAT Calmar Ratio Rank: 13
LSAT Martin Ratio Rank: 13

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.

	LSAT	SBIL	Difference
Sharpe ratio Return per unit of total volatility	0.01	—	—
Sortino ratio Return per unit of downside risk	0.13	—	—
Omega ratio Gain probability vs. loss probability	1.02	—	—
Calmar ratio Return relative to maximum drawdown	0.07	—	—
Martin ratio Return relative to average drawdown	0.21	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	LSAT	SBIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.01	—	—
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	14.25	-13.60

Correlation

The correlation between LSAT and SBIL is 0.01, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

LSAT vs. SBIL - Dividend Comparison

LSAT's dividend yield for the trailing twelve months is around 1.87%, less than SBIL's 2.68% yield.

	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%
SBIL Simplify Government Money Market ETF	2.68%	1.79%	0.00%	0.00%	0.00%	0.00%	0.00%

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	-13.54%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.48%	—	—
Current Drawdown Current decline from peak	-6.77%	0.00%	-6.77%
Average Drawdown Average peak-to-trough decline	-5.68%	0.00%	-5.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.22%	—	—

Volatility

Volatility by Period

	LSAT	SBIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.05%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.35%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	17.26%	0.28%	+16.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.28%	0.28%	+16.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.90%	0.28%	+16.62%