SASS vs. TOT

Last updated Jul 10, 2026

SASS (M.D. Sass Concentrated Value ETF) and TOT (LionShares U.S. Equity Total Return ETF) are both Actively Managed funds. Both are actively managed. A 0.58 correlation means they provide meaningful diversification when combined. SASS charges 0.75%/yr vs 0.07%/yr for TOT.

Performance

SASS vs. TOT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in M.D. Sass Concentrated Value ETF (SASS) and LionShares U.S. Equity Total Return ETF (TOT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SASS

• 1D: 1.28%
• 1M: 1.08%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TOT

• 1D: 0.78%
• 1M: 2.36%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SASS vs. TOT - Yearly Performance Comparison

	2026 (YTD)
SASS M.D. Sass Concentrated Value ETF	2.04%
TOT LionShares U.S. Equity Total Return ETF	0.86%

Correlation

The correlation between SASS and TOT is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 26, 2026	0.58

Return for Risk

SASS vs. TOT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for M.D. Sass Concentrated Value ETF (SASS) and LionShares U.S. Equity Total Return ETF (TOT). 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.

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

Drawdowns

SASS vs. TOT - Drawdown Comparison

The maximum SASS drawdown since its inception was -9.61%, which is greater than TOT's maximum drawdown of -4.26%. Use the drawdown chart below to compare losses from any high point for SASS and TOT.

Drawdown Indicators

	SASS	TOT	Difference
Max Drawdown Largest peak-to-trough decline	-9.61%	-4.26%	-5.35%
Current Drawdown Current decline from peak	-2.63%	-0.62%	-2.01%
Average Drawdown Average peak-to-trough decline	-3.51%	-1.45%	-2.06%

Volatility

Volatility by Period

	SASS	TOT	Difference
Volatility (1Y) Calculated over the trailing 1-year period	17.53%	14.24%	+3.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.53%	14.24%	+3.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.53%	14.24%	+3.29%

SASS vs. TOT - Expense Ratio Comparison

SASS has a 0.75% expense ratio, which is higher than TOT's 0.07% expense ratio.

Dividends

SASS vs. TOT - Dividend Comparison

Neither SASS nor TOT has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SASS and TOT in my portfolio?

SASS and TOT have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SASS or TOT?

On fees, TOT is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SASS or TOT?

TOT is cheaper with a 0.07% expense ratio, compared with 0.75% for SASS.

Which ETF pays a higher dividend yield, SASS or TOT?

SASS and TOT have nearly identical dividend yields, around 0.00%.

What is the main difference between SASS and TOT?

They also come from different issuers: M.D. Sass and LionShares. Their fees differ too: 0.75% for SASS and 0.07% for TOT.