At a glance
LSAF charges 0.75% a year, above the 0.28% average of the 7 funds most like it (the most expensive of 8). It has $172.0M in assets, the 6th largest of that group; it paid 0.55% of its price in distributions over the past 12 months, annual. Over the past year it returned +26.4% with distributions reinvested (S&P 500: +11.5%), 5th of those 8 funds; over three years it returned +24.1% a year. At its worst it fell 41.6% in the 2020 crash (S&P 500: 33.7%) and 24.9% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 8 months and 16 months after the lows.
The short version
LeaderShares AlphaFactor US Core Equity ETF (LSAF) is a US stock fund from Redwood, launched October 2, 2018, whose name points to a factor-based way of choosing stocks. It is expensive for its group: its 0.75% expense ratio is the highest of eight similar funds compared, against a 0.28% average. It pays little income, with a 0.55% yield as of October 27, 2026.
Price history
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LSAF +26.4% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| LSAF price data to Oct 27, 2026 | +25.4% | +26.4% | +24.1% | +11.7% | — | +11.3% |
- Over the year to Oct 27, 2026, LSAF returned +26.4%, 5th of 8 among similar funds.
- Its 5-year annualized return was +11.7%.
- In the 2020 COVID crash it fell 41.6% and regained its old high 7.8 months after the low.
- Its worst full calendar year was 2022 (-13.1%); its best was 2019 (+28.3%).
- The deepest fall in its price history was 41.7% (Feb 12, 2020 to Mar 23, 2020), recovered by Nov 16, 2020.
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +25.4% |
| 2025 | +12.0% |
| 2024 | +18.1% |
| 2023 | +15.5% |
| 2022 | -13.1% |
| 2021 | +22.7% |
| 2020 | +6.9% |
| 2019 | +28.3% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 41.6% over that stretch · deepest drop along the way 41.6%, back to its old high 7.8 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 20.1% over that stretch · deepest drop along the way 24.9%, back to its old high 15.9 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2025 | $0.3100 | +82.4% |
| 2024 | $0.1700 | -41.4% |
| 2023 | $0.2900 | 0.0% |
| 2022 | $0.2900 | +141.7% |
| 2021 | $0.1200 | -20.0% |
| 2020 | $0.1500 | -21.1% |
| 2019 | $0.1900 |
How it works
LSAF holds US stocks. The word "AlphaFactor" in its name suggests the fund uses factors to pick and weight stocks. Factors are measurable traits, such as profitability, valuation or price momentum, that some investors believe lead to better returns over time. We could not confirm the exact rules from a prospectus. That means we can't say which factors it uses, how many stocks it holds, how it weights them or how often it rebalances.
Mechanically, LSAF is a plain stock ETF. It does not use leverage, inverse bets, options overlays, buffers or swaps. It has behaved less like the overall market than a typical stock fund: its one-year beta was 0.74 as of October 27, 2026. Beta measures how much a fund tends to move when the market moves, and 1.0 means it moves in step with the market.
One caution: the LSAF ticker could not be matched in the SEC's ticker lists. That can happen when a fund has been renamed, closed or reorganized. Anyone considering it may want to read the fund's latest prospectus and holdings list directly from Redwood to check its strategy, its holdings and whether it still exists in this form.
What it really costs
- LSAF charges 0.75% a year, versus an average of 0.28% for the similar funds below (8th of 8, cheapest first).
In a retirement portfolio
It is a factor-tilted US stock fund with a high fee, a 41.7% peak-to-trough drop in its history and limited public detail, so it fits better as a small add-on than as a core.
LSAF could add a factor-tilted slice of US stocks next to a low-cost broad index fund. Its history shows big swings. In the 2020 COVID crash it fell 41.6% in about a month and took 7.8 months to recover, by November 16, 2020. In 2022 it fell 24.9% from its January peak to its September low and needed 15.9 months, until January 22, 2024, to get back to that level. Its loss for calendar year 2022 was a smaller 13.1%. It has no 2008 record. Selling shares to pay for spending during drops like these would lock in losses. Income is minor: the yield was 0.55% as of October 27, 2026, paid once a year. At 0.75% a year, it costs far more than the 0.28% peer average. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want a factor-driven US stock fund as a small satellite next to a low-cost broad index core.
- Long-term holders who can sit through sharp drops like its 41.7% fall in early 2020, which took 7.8 months to recover.
- Those who like somewhat lower sensitivity to the market: its one-year beta was 0.74 as of October 27, 2026.
Look elsewhere if
- Cost-conscious investors: LSAF charges 0.75% a year, versus 0.15% for Avantis AVLV and 0.12% for WisdomTree WTV.
- Retirees who want regular income: the yield was just 0.55% as of October 27, 2026, paid once a year.
- Anyone who wants clear, checkable details: no SEC prospectus or holdings report could be matched to the LSAF ticker.
Close alternatives
Matched by legacy category (no holdings report for this fund).
| Fund | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|
| LSAF this fund | 0.75% | $172.0M | +26.4% | +24.1% |
| VLLU Harbor AlphaEdge Large Cap Value ETF | 0.25% | $2.1M | +17.3% | — |
| AVLV Avantis U.S. Large Cap Value ETF | 0.15% | $6.10B | +30.9% | +23.5% |
| FLOW Global X U.S. Cash Flow Kings 100 ETF | 0.25% | $9.6M | +31.1% | +24.4% |
| WTV WisdomTree U.S. Value Fund | 0.12% | $825.3M | +17.8% | +24.7% |
| SMRI Bushido Capital US Equity ETF | 0.72% | $408.8M | +34.9% | +27.4% |
| VFLO VictoryShares Free Cash Flow ETF | 0.39% | $3.40B | +42.0% | +31.5% |
| VXF Vanguard Extended Market ETF | 0.05% | $101.40B | +11.2% | +21.5% |
Questions investors ask
Is LSAF good for retirement income?
Not on its own. LSAF is a US stock fund. It paid $0.31 per share in the year to October 27, 2026, a yield of 0.55%, and it pays only once a year. It may suit retirees who want some stock growth in part of a portfolio and can live with deep drops. It fell 41.7% in early 2020. Anyone drawing regular income from it would likely need to sell shares to cover most withdrawals.
What is the expense ratio of LSAF?
LSAF charges 0.75% a year, which is high for a US stock fund. The expense ratio is the yearly fee taken from fund assets, and it cuts returns in good years and bad. LSAF was the most expensive of eight funds in its broad category. The other seven averaged 0.28%, and Avantis U.S. Large Cap Value ETF (AVLV) charges 0.15%. LSAF's ticker was not found in SEC ticker files, which can mean a fund was renamed or closed. It is worth confirming its fee and status with Redwood.
What is LSAF's 5-year return?
LSAF returned 11.7% a year over the five years to October 27, 2026, a 74% gain in total. Over three years it returned 24.1% a year. Since its launch on October 2, 2018, it returned 11.3% a year. Results have swung: it lost 13.11% in 2022, then gained 15.49% in 2023, 18.08% in 2024 and 12.01% in 2025. It was up 25.4% for 2026 through October 27, which is a partial-year figure. Past returns do not predict future ones.
How much did LSAF drop in 2020 and 2022?
LSAF fell 41.7% in the 2020 COVID crash, from February 12 to March 23. It regained its high by November 16, 2020, 7.8 months after the low. In the 2022 bear market it dropped 24.9% from peak to low and took 15.9 months to recover, by January 22, 2024. Over the year to October 27, 2026, its beta was 0.74, which means it tended to move less than the overall market. Because it launched in 2018, it has no record through a crisis like 2008.
LSAF vs AVLV: what's the difference?
The main differences are cost and focus. AVLV, the Avantis U.S. Large Cap Value ETF, charges 0.15% a year against 0.75% for LSAF. It had $6.1 billion in assets, against $172 million for LSAF. AVLV targets large 'value' stocks, meaning shares priced cheaply relative to earnings. LSAF is labeled a core US equity fund, so the two are not direct substitutes. AVLV returned 31.5% in the year to October 30, 2026, against 26.4% for LSAF to October 27. Over three years they were close, at 24.9% and 24.1% a year.