MMK vs. LSAT

Last updated Jul 4, 2026

MMK (State Street Prime Money Market ETF) and LSAT (Leadershares Alphafactor Tactical Focused ETF) are both Money Market funds. Both are actively managed. At a correlation of -0.04, they often move in opposite directions. MMK charges 0.18%/yr vs 0.99%/yr for LSAT.

Performance

MMK vs. LSAT - Performance Comparison

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

Returns By Period

MMK

• 1D: 0.03%
• 1M: 0.31%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

LSAT

• 1D: 1.36%
• 1M: 6.22%
• 6M: 16.75%
• YTD: 16.96%
• 1Y: 13.73%
• 3Y*: 12.62%
• 5Y*: 7.25%
• 10Y*: —

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

MMK vs. LSAT - Yearly Performance Comparison

	2026 (YTD)
MMK State Street Prime Money Market ETF	1.41%
LSAT Leadershares Alphafactor Tactical Focused ETF	13.57%

Correlation

The correlation between MMK and LSAT is -0.04, 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 (All Time) Calculated using the full available price history since Feb 12, 2026	-0.04

Return for Risk

MMK vs. LSAT — Risk / Return Rank

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

MMK

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

LSAT

LSAT Risk / Return Rank: 37
LSAT Sharpe Ratio Rank: 36
LSAT Sortino Ratio Rank: 38
LSAT Omega Ratio Rank: 32
LSAT Calmar Ratio Rank: 43
LSAT Martin Ratio Rank: 34

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.

MMK vs. LSAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Prime Money Market ETF (MMK) and Leadershares Alphafactor Tactical Focused ETF (LSAT). 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.

	MMK	LSAT	Difference
Sharpe ratio: Return per unit of total volatility	—	1.13	—
Sortino ratio: Return per unit of downside risk	—	1.72	—
Omega ratio: Gain probability vs. loss probability	—	1.20	—
Calmar ratio: Return relative to maximum drawdown	—	1.84	—
Martin ratio: Return relative to average drawdown	—	4.31	—

Drawdowns

MMK vs. LSAT - Drawdown Comparison

The maximum MMK drawdown since its inception was -0.01%, smaller than the maximum LSAT drawdown of -20.48%. Use the drawdown chart below to compare losses from any high point for MMK and LSAT.

Drawdown Indicators

	MMK	LSAT	Difference
Max Drawdown Largest peak-to-trough decline	-0.01%	-20.48%	+20.47%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.94%	—
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	-0.00%	-5.48%	+5.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.38%	—

Volatility

Volatility by Period

	MMK	LSAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.10%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.68%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.18%	12.96%	-12.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.18%	16.28%	-16.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.18%	16.74%	-16.56%

MMK vs. LSAT - Expense Ratio Comparison

MMK has a 0.18% expense ratio, which is lower than LSAT's 0.99% expense ratio.

Dividends

MMK vs. LSAT - Dividend Comparison

MMK's dividend yield for the trailing twelve months is around 1.38%, less than LSAT's 1.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
LSAT Leadershares Alphafactor Tactical Focused ETF	1.62%	1.90%	1.31%	1.85%	0.36%	3.44%	0.30%
MMK State Street Prime Money Market ETF	1.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MMK and LSAT in my portfolio?

MMK and LSAT have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MMK or LSAT?

On fees, MMK is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MMK or LSAT?

MMK is cheaper with a 0.18% expense ratio, compared with 0.99% for LSAT.

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

LSAT has the higher dividend yield at 1.62%, compared with 1.38% for MMK.

What is the main difference between MMK and LSAT?

They also come from different issuers: State Street and Redwood. Their fees differ too: 0.18% for MMK and 0.99% for LSAT.