Leuthold Core ETF
We believe that purchasing a collection of asset classes has the potential to provide steady growth and foster long-term investment success. Adding the element of flexibility toward portfolio weightings will complement the asset diversification and increase the opportunities to make the most of special market and economic attributes that surface as business cycles evolve.
ETF Summary
Morningstar Rating™ Overall among 232 Tactical Allocation funds as of 12.31.24 based on risk-adjusted returns.†
-
Fund Inception:
1/6/2020 -
Ticker:
LCR -
Net Assets:
$81,019,050 -
Shares Outstanding:
2,325,000 -
Primary Exchange:
NYSE -
CUSIP:
527289 789 -
Fund Type:
Tactical Asset Allocation -
Investment Objective:
Capital appreciation and income (or "total return") -
Management Fee:
0.50% -
All Remaining Other Expenses:
0.44% -
Acquired Fund Fee & Expenses:
0.21% -
Expense Reimbursement:
0.08% -
Total Annual Fund Operating Expenses After Expense Reimbursement:
0.86% -
Portfolio Managers:
Doug Ramsey, Scott Opsal, Chun Wang -
Number of Holdings:
140
Fund Prices
as of January 17, 2025| NAV | Price | ||
|---|---|---|---|
| Net Asset Value | $34.85 | Closing Price | $34.83 |
| Daily Change | $0.15 | Daily Change | $0.11 |
| Daily Change | 0.43% | Daily Change | 0.32% |
| Premium/Discount | -0.05% | ||
| Bid-Ask Spead (30 day median) | 0.12% |
Month End Performance
as of December 31, 2024Cumulative
| 1 MO. | 3 MO. | 6 MO. | SINCE INCEPTION | |
|---|---|---|---|---|
| Fund NAV | -3.59% | -1.26% | 3.68% | 44.27% |
| Closing Price | -3.55% | -1.31% | 3.82% | 44.39% |
Avg. Annualized
| 1 YR. | 3 YR. | 5 YR. | SINCE INCEPTION | |
|---|---|---|---|---|
| Fund NAV | 8.80% | 4.30% | NA% | 7.61% |
| Closing Price | 8.69% | 4.25% | NA% | 7.63% |
Quarter End Performance
as of December 31, 2024Cumulative
| 1 MO. | 3 MO. | 6 MO. | SINCE INCEPTION | |
|---|---|---|---|---|
| Fund NAV | -3.59% | -1.26% | 3.68% | 44.27% |
| Closing Price | -3.55% | -1.31% | 3.82% | 44.39% |
Avg. Annualized
| 1 YR. | 3 YR. | 5 YR. | SINCE INCEPTION | |
|---|---|---|---|---|
| Fund NAV | 8.80% | 4.30% | NA% | 7.61% |
| Closing Price | 8.69% | 4.25% | NA% | 7.63% |
All Holdings Top 10 Holdings
| Percentage of Net Assets | Name | Identifier (Cusip) | Shares Held | Market Value |
|---|---|---|---|---|
| 13.27% | FIDELITY INV MMKT GOVT-I 12/31/2031 | FIGXX (316175108) | 10,750,967 | $10,750,966.72 |
| 13.21% | Financial Select Sector SPDR Fund | XLF (81369Y605) | 213,082 | $10,703,108.86 |
| 10.89% | Technology Select Sector SPDR Fund | XLK (81369Y803) | 37,700 | $8,825,947.00 |
| 9.62% | Communication Services Select Sector SPDR Fund | XLC (81369Y852) | 80,044 | $7,795,485.16 |
| 9.08% | iShares 1-3 Year Treasury Bond ETF | SHY (464287457) | 89,657 | $7,359,046.56 |
| 4.80% | ISHARES TRUST DJ HOME CONSTN | ITB (464288752) | 35,608 | $3,889,817.92 |
| 3.90% | Microsoft Corp | MSFT (594918104) | 1,051 | $450,910.53 |
| 3.88% | Industrial Select Sector SPDR Fund | XLI (81369Y704) | 22,793 | $3,139,735.75 |
| 3.28% | Meta Platforms Inc | META (30303M102) | 619 | $379,304.63 |
| 3.02% | Direxion Daily S&P 500 Bear 1x Shares | SPDN (25460E869) | 226,357 | $2,449,182.74 |
| 2.70% | iShares 5-10 Year Investment Grade Corporate Bond ETF | IGIB (464288638) | 42,458 | $2,186,587.00 |
| 2.61% | iShares U.S. Insurance ETF | IAK (464288786) | 16,499 | $2,113,686.89 |
| 2.45% | SPDR BARCLAYS CAPITAL INTL TREASURY BOND ETF | BWX (78464A516) | 93,627 | $1,982,083.59 |
| 2.40% | Health Care Select Sector SPDR Fund | XLV (81369Y209) | 13,871 | $1,944,436.78 |
| 2.39% | Alphabet Inc | GOOGL (02079K305) | 1,410 | $276,360.00 |
| 2.33% | SPDR S&P Retail ETF | XRT (78464A714) | 24,098 | $1,890,006.14 |
| 2.28% | VanEck Gold Miners ETF/USA | GDX (92189F106) | 50,325 | $1,849,443.75 |
| 2.24% | Netflix Inc | NFLX (64110L106) | 302 | $259,146.20 |
| 2.18% | iShares U.S. Healthcare Providers ETF | IHF (464288828) | 35,301 | $1,762,225.92 |
| 2.02% | PulteGroup Inc | PHM (745867101) | 1,991 | $233,006.73 |
| 1.97% | Oracle Corp | ORCL (68389X105) | 1,410 | $227,052.30 |
| 1.91% | United Rentals Inc | URI (911363109) | 286 | $220,506.00 |
| 1.84% | Goldman Sachs Group Inc/The | GS (38141G104) | 340 | $212,819.60 |
| 1.77% | Jabil Inc | JBL (466313103) | 1,252 | $203,950.80 |
| 1.68% | iShares 7-10 Year Treasury Bond ETF | IEF (464287440) | 14,753 | $1,363,914.85 |
| 1.68% | DR Horton Inc | DHI (23331A109) | 1,315 | $194,159.75 |
| 1.66% | McKesson Corp | MCK (58155Q103) | 324 | $191,992.68 |
| 1.64% | iShares U.S. Telecommunications ETF | IYZ (464287713) | 48,789 | $1,331,451.81 |
| 1.58% | Morgan Stanley | MS (617446448) | 1,322 | $182,264.14 |
| 1.54% | Reinsurance Group of America Inc | RGA (759351604) | 800 | $178,384.00 |
| 1.53% | Flex Ltd | FLEX (Y2573F102) | 4,137 | $176,732.64 |
| 1.45% | JPMORGAN CHASE & CO. | JPM (46625H100) | 646 | $167,417.36 |
| 1.45% | T-Mobile US Inc | TMUS (872590104) | 766 | $167,731.02 |
| 1.44% | Mastercard Inc | MA (57636Q104) | 316 | $165,805.20 |
| 1.41% | Toll Brothers Inc | TOL (889478103) | 1,208 | $163,273.28 |
| 1.39% | Cardinal Health Inc | CAH (14149Y108) | 1,275 | $160,994.25 |
| 1.35% | US Global Jets ETF | JETS (26922A842) | 41,652 | $1,090,865.88 |
| 1.32% | Bank of America Corp | BAC (060505104) | 3,266 | $151,966.98 |
| 1.31% | Cencora Inc | COR (03073E105) | 624 | $151,039.20 |
| 1.26% | RenaissanceRe Holdings Ltd | RNR (G7496G103) | 563 | $144,949.98 |
| 1.24% | Invesco CurrencyShares Euro Currency Trust | FXE (46138K103) | 10,551 | $1,001,078.88 |
| 1.24% | SPDR S&P Regional Banking ETF | KRE (78464A698) | 15,885 | $1,001,866.95 |
| 1.24% | Delta Air Lines Inc | DAL (247361702) | 2,184 | $143,750.88 |
| 1.23% | SPDR Bloomberg International Corporate Bond ETF | IBND (78464A151) | 35,608 | $997,024.00 |
| 1.17% | Citigroup Inc | C (172967424) | 1,696 | $135,663.04 |
| 1.16% | Visa Inc | V (92826C839) | 419 | $133,920.78 |
| 1.13% | Kinross Gold Corp | KGC (496902404) | 12,635 | $130,266.85 |
| 1.11% | TJX Cos Inc/The | TJX (872540109) | 1,056 | $128,673.60 |
| 1.05% | Fortinet Inc | FTNT (34959E109) | 1,291 | $121,650.93 |
| 1.03% | Berkshire Hathaway Inc | BRK/B (084670702) | 255 | $119,327.25 |
| 1.02% | Janus Henderson AAA CLO ETF | JAAA (47103U845) | 16,289 | $829,435.88 |
| 1.02% | TE Connectivity PLC | TEL (G87052109) | 811 | $118,178.92 |
| 1.01% | Check Point Software Technologies Ltd | CHKP (M22465104) | 620 | $116,479.40 |
| 1.01% | Walt Disney Co/The | DIS (254687106) | 1,086 | $116,223.72 |
| 1.00% | AerCap Holdings NV | AER (N00985106) | 1,212 | $115,988.40 |
| 0.99% | Simplify MBS ETF | MTBA (82889N525) | 16,058 | $798,082.60 |
| 0.97% | iShares MBS ETF | MBB (464288588) | 8,576 | $785,475.84 |
| 0.96% | Arista Networks Inc | ANET (040413205) | 923 | $110,713.85 |
| 0.96% | Lennar Corp | LEN (526057104) | 786 | $111,250.44 |
| 0.95% | AT&T Inc | T (00206R102) | 4,923 | $109,733.67 |
| 0.93% | Invesco KBW Bank ETF | KBWB (46138E628) | 10,781 | $753,699.71 |
| 0.93% | Everest Group Ltd | EG (G3223R108) | 298 | $107,926.66 |
| 0.91% | Cargurus Inc | CARG (141788109) | 2,776 | $104,905.04 |
| 0.90% | SPDR S&P Capital Markets ETF | KCE (78464A771) | 5,160 | $729,417.60 |
| 0.90% | Cisco Systems Inc | CSCO (17275R102) | 1,733 | $104,378.59 |
| 0.89% | Canadian Imperial Bank of Commerce | CM (136069101) | 1,647 | $103,201.02 |
| 0.89% | WESCO International Inc | WCC (95082P105) | 537 | $102,894.57 |
| 0.88% | HCA Healthcare Inc | HCA (40412C101) | 327 | $101,517.15 |
| 0.87% | Invesco CurrencyShares Japanese Yen Trust | FXY (46138W107) | 11,875 | $702,287.50 |
| 0.86% | Chubb Ltd | CB (H1467J104) | 367 | $98,899.16 |
| 0.86% | M&T Bank Corp | MTB (55261F104) | 507 | $99,757.32 |
| 0.85% | Taylor Morrison Home Corp | TMHC (87724P106) | 1,500 | $98,505.00 |
| 0.84% | Ross Stores Inc | ROST (778296103) | 647 | $96,500.05 |
| 0.83% | IAMGOLD Corp | IAG (450913108) | 17,115 | $95,501.70 |
| 0.82% | Caterpillar Inc | CAT (149123101) | 246 | $94,614.06 |
| 0.80% | Deutsche Bank AG | DB (D18190898) | 4,835 | $92,251.80 |
| 0.80% | FIDELITY INV MMKT GOVT-I 12/31/2031 | FIGXX (316175108) | 91,983 | $91,982.66 |
| 0.79% | Allison Transmission Holdings Inc | ALSN (01973R101) | 763 | $91,186.13 |
| 0.79% | Huntington Bancshares Inc/OH | HBAN (446150104) | 5,376 | $91,445.76 |
| 0.78% | Citizens Financial Group Inc | CFG (174610105) | 1,896 | $90,135.84 |
| 0.78% | Meritage Homes Corp | MTH (59001A102) | 1,122 | $90,410.76 |
| 0.76% | Barclays PLC | BCS (06738E204) | 6,124 | $87,328.24 |
| 0.76% | PayPal Holdings Inc | PYPL (70450Y103) | 957 | $87,862.17 |
| 0.74% | PACCAR Inc | PCAR (693718108) | 772 | $85,174.76 |
| 0.73% | Sumitomo Mitsui Financial Group Inc | SMFG (86562M209) | 5,752 | $84,496.88 |
| 0.72% | Agnico Eagle Mines Ltd | AEM (008474108) | 979 | $83,244.37 |
| 0.72% | Raymond James Financial Inc | RJF (754730109) | 500 | $83,505.00 |
| 0.69% | H&R Block Inc | HRB (093671105) | 1,434 | $79,128.12 |
| 0.69% | Travelers Cos Inc/The | TRV (89417E109) | 332 | $79,520.64 |
| 0.68% | Tenet Healthcare Corp | THC (88033G407) | 603 | $78,908.58 |
| 0.67% | Leidos Holdings Inc | LDOS (525327102) | 500 | $77,590.00 |
| 0.66% | Hartford Financial Services Group Inc/The | HIG (416515104) | 678 | $75,888.54 |
| 0.66% | Match Group Inc | MTCH (57667L107) | 2,322 | $76,022.28 |
| 0.65% | Allstate Corp/The | ALL (020002101) | 399 | $75,371.10 |
| 0.64% | Assurant Inc | AIZ (04621X108) | 352 | $74,479.68 |
| 0.63% | VanEck J. P. Morgan EM Local Currency Bond ETF | EMLC (92189H300) | 22,160 | $512,560.80 |
| 0.62% | Telefonaktiebolaget LM Ericsson | ERIC (294821608) | 8,318 | $71,035.72 |
| 0.61% | SPDR S&P Homebuilders ETF | XHB (78464A888) | 4,431 | $490,378.77 |
| 0.60% | Abercrombie & Fitch Co | ANF (002896207) | 535 | $69,737.25 |
| 0.60% | F5 Inc | FFIV (315616102) | 264 | $69,682.80 |
| 0.60% | Universal Health Services Inc | UHS (913903100) | 377 | $69,669.60 |
| 0.59% | Nokia Oyj | NOK (654902204) | 15,140 | $68,281.40 |
| 0.58% | Old National Bancorp/IN | ONB (680033107) | 2,935 | $67,299.55 |
| 0.58% | Qualys Inc | QLYS (74758T303) | 490 | $67,112.85 |
| 0.57% | Arch Capital Group Ltd | ACGL (G0450A105) | 689 | $65,806.39 |
| 0.57% | KB Home | KBH (48666K109) | 977 | $66,328.53 |
| 0.57% | Urban Outfitters Inc | URBN (917047102) | 1,197 | $65,846.97 |
| 0.56% | Adtalem Global Education Inc | ATGE (00737L103) | 663 | $65,086.71 |
| 0.56% | Columbia Banking System Inc | COLB (197236102) | 2,278 | $65,105.24 |
| 0.56% | Stride Inc | LRN (86333M108) | 563 | $64,272.08 |
| 0.56% | Rush Enterprises Inc | RUSHA (781846209) | 1,067 | $64,158.71 |
| 0.54% | Markel Group Inc | MKL (570535104) | 35 | $62,092.45 |
| 0.53% | Equinox Gold Corp | EQX (29446Y502) | 10,568 | $61,717.12 |
| 0.53% | LKQ Corp | LKQ (501889208) | 1,582 | $60,843.72 |
| 0.51% | ENCOMPASS HEALTH CORP | EHC (29261A100) | 627 | $59,401.98 |
| 0.51% | Gap Inc/The | GAP (364760108) | 2,523 | $59,189.58 |
| 0.51% | Virtu Financial Inc | VIRT (928254101) | 1,566 | $58,349.16 |
| 0.50% | CACI International Inc | CACI (127190304) | 127 | $57,453.53 |
| 0.50% | Cadence Bank | CADE (12740C103) | 1,610 | $57,396.50 |
| 0.49% | Block Inc | XYZ (852234103) | 646 | $56,176.16 |
| 0.48% | Pan American Silver Corp | PAAS (697900108) | 2,583 | $55,353.69 |
| 0.47% | Global Payments Inc | GPN (37940X102) | 504 | $54,643.68 |
| 0.47% | Science Applications International Corp | SAIC (808625107) | 471 | $54,574.77 |
| 0.46% | Boise Cascade Co | BCC (09739D100) | 411 | $52,595.67 |
| 0.46% | Fidelity National Information Services Inc | FIS (31620M106) | 674 | $53,097.72 |
| 0.46% | Verizon Communications Inc | VZ (92343V104) | 1,369 | $53,089.82 |
| 0.45% | Eldorado Gold Corp | EGO (284902509) | 3,579 | $51,931.29 |
| 0.43% | Cummins Inc | CMI (231021106) | 134 | $49,089.56 |
| 0.43% | Copa Holdings SA | CPA (P31076105) | 547 | $49,399.57 |
| 0.43% | GMS Inc | GMS (36251C103) | 585 | $49,327.20 |
| 0.41% | IAC Inc | IAC (44891N208) | 1,124 | $47,545.20 |
| 0.41% | KBR Inc | KBR (48242W106) | 798 | $47,369.28 |
| 0.38% | White Mountains Insurance Group Ltd | WTM (G9618E107) | 24 | $44,455.68 |
| 0.37% | Harmonic Inc | HLIT (413160102) | 3,459 | $42,891.60 |
| 0.32% | Terex Corp | TEX (880779103) | 778 | $36,729.38 |
| 0.26% | Select Medical Holdings Corp | SEM (81619Q105) | 1,571 | $29,958.97 |
| 0.23% | Concentra Group Holdings Parent Inc | CON (20603L102) | 1,267 | $26,771.71 |
| 0.18% | Cash & Other | Cash&Other | $21,333.15 | |
| 0.00% | Millrose Properties Inc | MRP-W (601137102) | 393 | $0.00 |
| -0.01% | Cash & Other | Cash&Other | $-10,451.29 |
The performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.
Investors should consider the investment objectives, risks, charges and expenses carefully before investing. An investment in the funds involves risk, including possible loss of principal. The Prospectus contains this and other information about the Fund. For a current Prospectus, call toll-free 1-866-306-8117. Please read the Prospectus carefully before you invest. Investing involves risk, including the possibility of loss of principal.
Market returns are based on the midpoint of the bid/ask spread at 4 p.m. ET and do not represent the returns an investor would receive if shares were traded at other times. The Adviser has voluntarily agreed to reimburse fees. This agreement may change or end at any time. Performance would have been lower without expense reimbursement in effect.
†Morningstar Rating™ or “star rating”: For funds with at least a 3-year history, a risk-adjusted-return measure is calculated to account for variation in monthly performance, placing more emphasis on downward variations and rewarding consistency. The top 10% of funds in each category receive 5 stars, next 22.5%=4 stars, next 35%=3 stars, next 22.5%=2 stars, and bottom 10%=1 star. The “Overall” Rating is derived from a weighted average of the 3-, 5-, and 10-year ratings (if applicable). Within the Tactical Allocation category, for the 3-, 5-, and 10-year periods, LCR is rated 5, NA, and NA stars, among 232, NA, and NA funds. ©2024 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from using this information. Leuthold Funds’ adviser pays a license fee for the use of Morningstar Ratings.™
Risks of Investing in the Fund
Asset Allocation Risk: The Fund may favor an asset category or investment strategy that performs poorly to other asset categories and investment strategies for short or long periods of time.
Foreign and Emerging Markets Securities Risk: Investments in securities and instruments traded in developing or emerging markets, or that provide exposure to such securities, can involve additional risks relating to political, economic, or regulatory conditions not associated with investment in U.S. securities and instruments.
Market Risks: Common stocks are susceptible to general stock market fluctuations and to volatile increases and decreases in value as market confidence and perceptions of their issuers change.
Fixed Income Securities Risk: Issuers of bonds may not be able to make interest or principal payments, or may suffer adverse changes in financial condition that could lower the credit quality.
Quantitative Investment Approach Risk: The Fund utilizes a quantitative investment approach. There may be market conditions where the quantitative investment approach performs poorly.
Managed Futures Strategy/Commodities Risk: Investments in managed futures programs or commodities may subject an Underlying Investment to greater volatility than investments in traditional securities.
Sector Risk: The Fund’s investing approach may dictate an emphasis on certain sectors, industries, or sub-sectors of the market. The Fund may invest more heavily in one sector, industry, or sub-sector; or may lack exposure to one or more sectors, which may adversely affect performance.
Distributor: Quasar Distributors, LLC