SOVF vs. LSAF

Last updated Aug 2, 2026

SOVF (Sovereign's Capital Flourish Fund) and LSAF (LeaderShares AlphaFactor US Core Equity ETF) are both Mid Cap Blend Equities funds. SOVF is actively managed, while LSAF is passively managed. Over the past year, SOVF returned 7.32% vs 30.03% for LSAF. Their correlation of 0.84 means they have usually moved in the same direction. Both charge a 0.75% expense ratio.

Performance

SOVF vs. LSAF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sovereign's Capital Flourish Fund (SOVF) and LeaderShares AlphaFactor US Core Equity ETF (LSAF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SOVF achieves a 5.41% return, which is significantly lower than LSAF's 19.96% return.

SOVF

• 1D: -0.01%
• 1M: 1.14%
• 6M: 3.07%
• YTD: 5.41%
• 1Y: 7.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.24%

LSAF

• 1D: -0.55%
• 1M: 2.49%
• 6M: 17.23%
• YTD: 19.96%
• 1Y: 30.03%
• 3Y*: 18.58%
• 5Y*: 10.90%
• 10Y*: —
• ALL TIME*: 11.02%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
LSAF LeaderShares AlphaFactor US Core Equity ETF	$265.84K	$205.64K	$201.86K
SOVF Sovereign's Capital Flourish Fund	$1.04M	$631.64K	$333.85K

SOVF vs. LSAF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SOVF Sovereign's Capital Flourish Fund	5.41%	-4.38%	8.67%	14.18%
LSAF LeaderShares AlphaFactor US Core Equity ETF	19.96%	12.01%	18.09%	10.73%

Correlation

The correlation between SOVF and LSAF is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.76
Correlation (All Time) Calculated using the full available price history since Oct 3, 2023	0.84

The correlation between SOVF and LSAF has been stable across timeframes, ranging from 0.76 to 0.84 - a consistent structural relationship.

SOVF vs. LSAF - Sectors Allocation Comparison

Sectors	SOVF	LSAF
Technology	32.3%	15.4%
Financial Services	17.1%	16.2%
Industrials	15.1%	10.7%
Healthcare	11.5%	7.8%
Consumer Defensive	7.4%	4.1%
Consumer Cyclical	7.1%	19.9%
Utilities	4.9%	0.9%
Real Estate	4.1%	2.1%
Energy	0.2%	3.3%
Communication Services	0.2%	4.7%
Basic Materials	-	5.8%

Return for Risk

SOVF vs. LSAF — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SOVF

SOVF Risk / Return Rank: 17
SOVF Sharpe Ratio Rank: 18
SOVF Sortino Ratio Rank: 17
SOVF Omega Ratio Rank: 16
SOVF Calmar Ratio Rank: 17
SOVF Martin Ratio Rank: 16

LSAF

LSAF Risk / Return Rank: 88
LSAF Sharpe Ratio Rank: 85
LSAF Sortino Ratio Rank: 87
LSAF Omega Ratio Rank: 82
LSAF Calmar Ratio Rank: 93
LSAF Martin Ratio Rank: 91

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SOVF vs. LSAF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sovereign's Capital Flourish Fund (SOVF) and LeaderShares AlphaFactor US Core Equity ETF (LSAF). 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.

	SOVF	LSAF	Difference
Sharpe ratio: Return per unit of total volatility	0.32	2.03	-1.71
Sortino ratio: Return per unit of downside risk	0.54	2.98	-2.43
Omega ratio: Gain probability vs. loss probability	1.06	1.35	-0.29
Calmar ratio: Return relative to maximum drawdown	0.32	4.41	-4.09
Martin ratio: Return relative to average drawdown	0.66	14.86	-14.20

SOVF vs. LSAF - Sharpe Ratio Comparison

The current SOVF Sharpe Ratio is 0.32, which is lower than the LSAF Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of SOVF and LSAF, 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

SOVF vs. LSAF - Drawdown Comparison

The maximum SOVF drawdown since its inception was -21.74%, smaller than the maximum LSAF drawdown of -41.67%. Use the drawdown chart below to compare losses from any high point for SOVF and LSAF.

Drawdown Indicators

	SOVF	LSAF	Difference
Max Drawdown Largest peak-to-trough decline	-21.74%	-41.67%	+19.93%
Max Drawdown (1Y) Largest decline over 1 year	-14.46%	-6.58%	-7.88%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.26%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.94%	—
Current Drawdown Current decline from peak	-7.26%	-1.48%	-5.78%
Average Drawdown Average peak-to-trough decline	-7.47%	-6.21%	-1.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.06%	1.95%	+5.11%

Volatility

SOVF vs. LSAF - Volatility Comparison

Sovereign's Capital Flourish Fund (SOVF) has a higher volatility of 4.59% compared to LeaderShares AlphaFactor US Core Equity ETF (LSAF) at 4.21%. This indicates that SOVF's price experiences larger fluctuations and is considered to be riskier than LSAF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SOVF	LSAF	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.59%	4.21%	+0.38%
Volatility (6M) Calculated over the trailing 6-month period	10.43%	10.49%	-0.06%
Volatility (1Y) Calculated over the trailing 1-year period	14.83%	14.36%	+0.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.14%	18.38%	-1.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.14%	21.73%	-4.59%

SOVF vs. LSAF - Expense Ratio Comparison

Both SOVF and LSAF have an expense ratio of 0.75%.

Dividends

SOVF vs. LSAF - Dividend Comparison

SOVF's dividend yield for the trailing twelve months is around 0.73%, more than LSAF's 0.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
LSAF LeaderShares AlphaFactor US Core Equity ETF	0.57%	0.69%	0.42%	0.84%	0.96%	0.37%	0.53%	0.71%	0.20%
SOVF Sovereign's Capital Flourish Fund	0.73%	0.77%	0.30%	0.18%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SOVF and LSAF in my portfolio?

SOVF and LSAF have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SOVF or LSAF?

SOVF has higher volatility (4.59%) compared to LSAF (4.21%). In terms of maximum drawdown, SOVF dropped -21.74% vs LSAF's -41.67%.

Which ETF is better, SOVF or LSAF?

On 1-year performance, LSAF leads with 30.03% vs 7.32% for SOVF. Both ETFs have the same 0.75% expense ratio. On volatility, LSAF has been the lower-risk option at 4.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SOVF or LSAF?

Over the 1-year period, LSAF has performed better with a 30.03% return vs 7.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SOVF or LSAF?

SOVF and LSAF have the same expense ratio: 0.75% per year.

Which ETF pays a higher dividend yield, SOVF or LSAF?

SOVF has the higher dividend yield at 0.73%, compared with 0.57% for LSAF.

What is the main difference between SOVF and LSAF?

They also come from different issuers: Sovereign's and Redwood.

Which has better risk-adjusted returns?

LSAF currently has the higher Sharpe Ratio (2.03 vs 0.32), 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.