LCR vs SPY
Leuthold Core ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, LCR or SPY?
Allocation/Balanced against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.96. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 66.4%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | LCR | SPY |
|---|---|---|
| Expense Ratio | 0.83% | 0.09%Best |
| AUM | $69M | $804.7B |
| Dividend Yield | 1.32% | 0.98% |
| Holdings | 36 | 505 |
| Volatility (annualized) | 10.1%Best | 18.3% |
| Max Drawdown | -17.4%Best | -34.1% |
| $10,000 over 5 years | $14,558 | $19,466Best |
| Top 10 Weight | 66.4% | 38.0%Best |
| Fund Family | Leuthold Funds | State Street Investment Management |
| Category | Allocation/Balanced | Equity |
| Style | Allocation/Balanced | Large Cap Blend |
| Inception | Jan 3, 2020 | Jan 22, 1993 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 602 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. LCR has data through Jan 17, 2025 and SPY through Sep 11, 2026.
Volatility and max drawdown, and the $10,000 over 5 years row, are measured over the window both funds cover: Jan 6, 2020 to Jan 17, 2025 (5 years).
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 18.3% compared with 10.1% for LCR. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -17.4% for LCR and -34.1% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.96. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
LCR charges 0.83% per year while SPY charges 0.09%. On a $10,000 position that is $83 vs $9 annually, a gap of $74 per year that compounds over a long holding period. On income, LCR currently yields 1.32% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 34 holdings in LCR and 504 in SPY, totalling 100.0% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 34 positions we hold weights for in LCR and 504 in SPY, against full books of 36 and 505.
What only one of them owns
Measured across the 34 and 504 positions we hold weights for.
SPY holds 494 positions LCR does not, 99.5% of the fund.
Largest: NVDA 7.71%, AAPL 6.83%, MSFT 5.50%, AMZN 4.08%, GOOGL 3.33%
You are not choosing between two funds in isolation.
Whichever of LCR and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, LCR or SPY?
LCR has an expense ratio of 0.83% while SPY charges 0.09%. SPY is the cheaper option, by $74 a year on a $10,000 investment.
Which is riskier, LCR or SPY?
SPY has been the more volatile fund at 18.3% annualized versus 10.1% for LCR. Worst drawdown: LCR -17.4% vs SPY -34.1%.
Should I hold both LCR and SPY?
LCR and SPY have a monthly-return correlation of 0.96, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, LCR or SPY?
LCR yields 1.32% while SPY yields 0.98%, so LCR currently pays the higher dividend yield.
Is SPY better than LCR?
SPY has a lower expense ratio. SPY led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.96. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 66.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.