LST vs. CTEF

Last updated Jun 23, 2026

LST (Leuthold Select Industries ETF) and CTEF (Castellan Targeted Equity ETF) are both Mid Cap Blend Equities funds. Both are actively managed. Over the past year, LST returned 33.41% vs 87.37% for CTEF. A 0.78 correlation means they provide meaningful diversification when combined. LST charges 0.65%/yr vs 0.45%/yr for CTEF.

Performance

LST vs. CTEF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leuthold Select Industries ETF (LST) and Castellan Targeted Equity ETF (CTEF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LST achieves a 15.69% return, which is significantly lower than CTEF's 40.36% return.

LST

• 1D: 1.00%
• 1M: 1.69%
• YTD: 15.69%
• 6M: 14.16%
• 1Y: 33.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CTEF

• 1D: 0.97%
• 1M: 16.38%
• YTD: 40.36%
• 6M: 37.32%
• 1Y: 87.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LST vs. CTEF - Yearly Performance Comparison

	2026 (YTD)	2025
LST Leuthold Select Industries ETF	15.69%	15.31%
CTEF Castellan Targeted Equity ETF	40.36%	33.10%

Correlation

The correlation between LST and CTEF is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (All Time) Calculated using the full available price history since Jun 18, 2025	0.78

The correlation between LST and CTEF has been stable across timeframes, ranging from 0.78 to 0.78 - a consistent structural relationship.

Return for Risk

LST vs. CTEF — Risk / Return Rank

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

LST

LST Risk / Return Rank: 70
LST Sharpe Ratio Rank: 73
LST Sortino Ratio Rank: 73
LST Omega Ratio Rank: 69
LST Calmar Ratio Rank: 64
LST Martin Ratio Rank: 71

CTEF

CTEF Risk / Return Rank: 94
CTEF Sharpe Ratio Rank: 96
CTEF Sortino Ratio Rank: 95
CTEF Omega Ratio Rank: 93
CTEF Calmar Ratio Rank: 92
CTEF Martin Ratio Rank: 95

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.

LST vs. CTEF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leuthold Select Industries ETF (LST) and Castellan Targeted Equity ETF (CTEF). 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.

	LST	CTEF	Difference
Sharpe ratio: Return per unit of total volatility	2.25	3.91	-1.66
Sortino ratio: Return per unit of downside risk	3.13	4.80	-1.67
Omega ratio: Gain probability vs. loss probability	1.40	1.62	-0.22
Calmar ratio: Return relative to maximum drawdown	3.09	5.86	-2.76
Martin ratio: Return relative to average drawdown	12.63	27.12	-14.49

LST vs. CTEF - Sharpe Ratio Comparison

The current LST Sharpe Ratio is 2.25, which is lower than the CTEF Sharpe Ratio of 3.91. The chart below compares the historical Sharpe Ratios of LST and CTEF, 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

LST vs. CTEF - Drawdown Comparison

The maximum LST drawdown since its inception was -19.47%, which is greater than CTEF's maximum drawdown of -15.00%. Use the drawdown chart below to compare losses from any high point for LST and CTEF.

Drawdown Indicators

	LST	CTEF	Difference
Max Drawdown Largest peak-to-trough decline	-19.47%	-15.00%	-4.47%
Max Drawdown (1Y) Largest decline over 1 year	-10.85%	-15.00%	+4.15%
Current Drawdown Current decline from peak	-1.69%	0.00%	-1.69%
Average Drawdown Average peak-to-trough decline	-2.88%	-1.75%	-1.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	3.23%	-0.58%

Volatility

LST vs. CTEF - Volatility Comparison

The current volatility for Leuthold Select Industries ETF (LST) is 4.98%, while Castellan Targeted Equity ETF (CTEF) has a volatility of 8.56%. This indicates that LST experiences smaller price fluctuations and is considered to be less risky than CTEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LST	CTEF	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.98%	8.56%	-3.58%
Volatility (6M) Calculated over the trailing 6-month period	12.37%	18.88%	-6.51%
Volatility (1Y) Calculated over the trailing 1-year period	14.94%	22.52%	-7.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.01%	22.44%	-4.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.01%	22.44%	-4.43%

LST vs. CTEF - Expense Ratio Comparison

LST has a 0.65% expense ratio, which is higher than CTEF's 0.45% expense ratio.

Dividends

LST vs. CTEF - Dividend Comparison

LST's dividend yield for the trailing twelve months is around 1.16%, more than CTEF's 0.05% yield.

Position	TTM	2025
CTEF Castellan Targeted Equity ETF	0.05%	0.08%
LST Leuthold Select Industries ETF	1.16%	1.34%

Frequently Asked Questions

Can I hold both LST and CTEF in my portfolio?

LST and CTEF have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LST or CTEF?

CTEF has higher volatility (8.56%) compared to LST (4.98%). In terms of maximum drawdown, LST dropped -19.47% vs CTEF's -15.00%.

Which ETF is better, LST or CTEF?

On 1-year performance, CTEF leads with 87.37% vs 33.41% for LST. On fees, CTEF is cheaper at 0.45% per year. On volatility, LST has been the lower-risk option at 4.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LST or CTEF?

Over the 1-year period, CTEF has performed better with a 87.37% return vs 33.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LST or CTEF?

CTEF is cheaper with a 0.45% expense ratio, compared with 0.65% for LST.

Which ETF pays a higher dividend yield, LST or CTEF?

LST has the higher dividend yield at 1.16%, compared with 0.05% for CTEF.

What is the main difference between LST and CTEF?

They also come from different issuers: Leuthold Group and Castellan. Their fees differ too: 0.65% for LST and 0.45% for CTEF.

Which has better risk-adjusted returns?

CTEF currently has the higher Sharpe Ratio (3.91 vs 2.25), 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.