LST vs SPY
Leuthold Select Industries ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. LST delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | LST | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.65% | 0.09% | |
| AUM | $179M | $814.4B | |
| Dividend Yield | 1.17% | 1.01% | |
| Holdings | 122 | 505 | |
| YTD Return | +17.86% | +12.10% | |
| 1Y Return | +27.06% | +20.30% | |
| 3Y Return (annualized) | - | +20.82% | |
| 5Y Return (annualized) | - | +12.53% | |
| Volatility (annualized) | 14.2% | 15.3% | |
| Max Drawdown | -19.5% | -56.5% | |
| Fund Family | Leuthold Funds | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jun 19, 2000 | Jan 22, 1993 |
LST vs SPY Performance
Leuthold Select Industries ETF (LST) is a ETF from Leuthold Funds and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year LST returned +27.06% while SPY returned +20.30%. Year to date, LST is up 17.86% versus a gain of 12.10% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 14.2% for LST. 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 -19.5% for LST and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.87. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
LST charges 0.65% per year while SPY charges 0.09%. On a $10,000 position that is $65 vs $9 annually, a gap of $56 per year that compounds over a long holding period. On income, LST currently yields 1.17% against 1.01% for SPY.
Holdings Overlap
LST and SPY share 55 holdings out of 568 unique holdings combined, representing a 18.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, LST or SPY?
LST has an expense ratio of 0.65% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $56 per year of difference.
Which performed better, LST or SPY?
Over the past year LST returned +27.06% vs +20.30% for SPY, so LST leads on 1-year performance. Over the longest common window we track (2 years), LST annualized +21.75% vs +8.78% for SPY. Past performance does not guarantee future results.
Which is riskier, LST or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 14.2% for LST. Worst drawdown: LST -19.5% vs SPY -56.5%.
Should I hold both LST and SPY?
LST and SPY have a monthly-return correlation of 0.87, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between LST and SPY?
LST and SPY share 55 common holdings with a 18.6% weight overlap. Combined, they hold 568 unique securities.
Which pays a higher dividend, LST or SPY?
LST yields 1.17% while SPY yields 1.01%, so LST currently pays the higher dividend yield.
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