Leuthold Select Industries ETF
We believe that focusing on a diverse range of industries offers the potential to capture growth opportunities across various sectors of the economy. By emphasizing flexibility in industry selection and weightings, the all-cap fund seeks to capitalize on unique market dynamics and economic trends as they unfold throughout the business cycle, fostering long-term investment success.
ETF Summary
Morningstar Rating™ Overall among 365 Mid-Cap Blend funds as of 06.30.26 based on risk-adjusted returns.†
-
Fund Inception:
June 19, 2000 -
Ticker:
LST -
Net Assets:
$184,068,575 -
Shares Outstanding:
3,856,875 -
Primary Exchange:
NYSE -
CUSIP:
56167R705 -
Fund Type:
Long-Only Equity (U.S. traded; industry-group rotation & sector concentrations) -
Investment Objective:
Capital appreciation through equity group selection and rotation -
Management Fee:
0.50% -
All Remaining Other Expenses:
0.35% -
Acquired Fund Fee & Expenses:
0.00% -
Expense Reimbursement:
0.20% -
Total Annual Fund Operating Expenses After Expense Reimbursement:
0.65% -
Portfolio Managers:
-
Number of Holdings:
119
Fund Prices
as of September 9, 2026| NAV | Price | ||
|---|---|---|---|
| Net Asset Value | $47.72 | Closing Price | $47.76 |
| Daily Change | $-0.02 | Daily Change | $0.20 |
| Daily Change | -0.03% | Daily Change | 0.42% |
| Premium/Discount | 0.07% | ||
| Bid-Ask Spead (30 day median) | 0.08% |
Month End Performance
as of August 31, 2026Avg. Annualized
| 1 YR. | 3 YR. | 5 YR. | 10 YR. | 15 YR. | 20 YR. | 25 YR. | INCEPTION | |
|---|---|---|---|---|---|---|---|---|
| Fund NAV | 27.88% | 20.83% | 12.43% | 14.13% | 13.54% | 10.00% | 9.61% | 9.85% |
| Closing Price | 27.94% | 20.86% | 12.45% | 14.14% | 13.54% | 10.01% | 9.61% | 9.85% |
Cumulative
| YTD | 1 MO. | 3 MO. | 6 MO. | INCEPTION | |
|---|---|---|---|---|---|
| Fund NAV | 19.85% | 4.15% | 3.32% | 10.88% | 1,071.40% |
| Closing Price | 19.70% | 4.20% | 3.31% | 10.89% | 1,072.33% |
Quarter End Performance
as of June 30, 2026Avg. Annualized
| 1 YR. | 3 YR. | 5 YR. | 10 YR. | 15 YR. | 20 YR. | 25 YR. | INCEPTION | |
|---|---|---|---|---|---|---|---|---|
| Fund NAV | 29.02% | 19.97% | 12.81% | 14.35% | 12.32% | 9.77% | 9.23% | 9.80% |
| Closing Price | 28.88% | 19.94% | 12.80% | 14.34% | 12.31% | 9.76% | 9.22% | 9.80% |
Cumulative
| YTD | 1 MO. | 3 MO. | 6 MO. | INCEPTION | |
|---|---|---|---|---|---|
| Fund NAV | 16.71% | 0.61% | 15.69% | 16.71% | 1,040.65% |
| Closing Price | 16.39% | 0.45% | 15.53% | 16.39% | 1,039.89% |
All Holdings Top 10 Holdings
as of September 9, 2026| Percentage of Net Assets | Name | Identifier (Cusip) | Shares Held | Market Value |
|---|---|---|---|---|
| 2.48% | Dell Technologies Inc | DELL (24703L202) | 8,537 | $4,569,429.25 |
| 2.00% | Alphabet Inc | GOOGL (02079K305) | 11,123 | $3,677,819.95 |
| 1.95% | Microsoft Corp | MSFT (594918104) | 7,292 | $3,585,111.80 |
| 1.92% | Cardinal Health Inc | CAH (14149Y108) | 14,717 | $3,532,080.00 |
| 1.85% | Advanced Micro Devices Inc | AMD (007903107) | 6,523 | $3,399,102.69 |
| 1.81% | McKesson Corp | MCK (58155Q103) | 3,739 | $3,333,991.52 |
| 1.68% | Cisco Systems Inc | CSCO (17275R102) | 28,235 | $3,089,756.05 |
| 1.65% | Meta Platforms Inc | META (30303M102) | 4,640 | $3,033,121.60 |
| 1.47% | Citigroup Inc | C (172967424) | 19,633 | $2,705,427.40 |
| 1.44% | JPMORGAN CHASE & CO. | JPM (46625H100) | 7,459 | $2,645,781.89 |
| 1.40% | FedEx Corp | FDX (31428X106) | 8,362 | $2,585,446.78 |
| 1.39% | Flex Ltd | FLEX (Y2573F102) | 22,705 | $2,558,399.40 |
| 1.37% | Kinross Gold Corp | KGC (496902404) | 83,478 | $2,523,539.94 |
| 1.28% | Bank of America Corp | BAC (060505104) | 37,698 | $2,362,533.66 |
| 1.27% | Cencora Inc | COR (03073E105) | 7,252 | $2,344,716.64 |
| 1.27% | United Parcel Service Inc | UPS (911312106) | 23,645 | $2,346,056.90 |
| 1.24% | ServiceNow Inc | NOW (81762P102) | 17,458 | $2,288,918.38 |
| 1.23% | F5 Inc | FFIV (315616102) | 5,596 | $2,264,309.48 |
| 1.23% | Jabil Inc | JBL (466313103) | 7,285 | $2,268,330.45 |
| 1.23% | RenaissanceRe Holdings Ltd | RNR (G7496G103) | 6,998 | $2,257,064.94 |
| 1.19% | Canadian Imperial Bank of Commerce | CM (136069101) | 19,012 | $2,185,619.52 |
| 1.19% | Everest Group Ltd | EG (G3223R108) | 5,937 | $2,184,044.19 |
| 1.11% | Marathon Petroleum Corp | MPC (56585A102) | 5,128 | $2,048,328.32 |
| 1.11% | Regeneron Pharmaceuticals Inc | REGN (75886F107) | 2,537 | $2,049,008.05 |
| 1.09% | IAMGOLD Corp | IAG (450913108) | 98,123 | $2,015,446.42 |
| 1.08% | Johnson & Johnson | JNJ (478160104) | 7,446 | $1,988,677.68 |
| 1.07% | Chevron Corp | CVX (166764100) | 9,180 | $1,962,775.80 |
| 1.07% | NVIDIA Corp | NVDA (67066G104) | 8,819 | $1,970,340.98 |
| 1.07% | Paycom Software Inc | PAYC (70432V102) | 9,109 | $1,963,718.22 |
| 1.06% | Amgen Inc | AMGN (031162100) | 5,001 | $1,956,741.27 |
| 1.06% | Vertex Pharmaceuticals Inc | VRTX (92532F100) | 3,730 | $1,943,777.60 |
| 1.05% | HF Sinclair Corp | DINO (403949100) | 17,836 | $1,928,785.04 |
| 1.05% | TE Connectivity PLC | TEL (G87052109) | 9,416 | $1,927,266.88 |
| 1.04% | Telefonaktiebolaget LM Ericsson | ERIC (294821608) | 190,929 | $1,920,745.74 |
| 1.04% | Gilead Sciences Inc | GILD (375558103) | 13,117 | $1,910,491.05 |
| 1.02% | Barclays PLC | BCS (06738E204) | 70,690 | $1,869,043.60 |
| 1.02% | Tenet Healthcare Corp | THC (88033G407) | 6,959 | $1,872,527.72 |
| 1.02% | ExxonMobil Holdings Corp | XOM (30233Q108) | 11,385 | $1,869,758.55 |
| 1.00% | EOG Resources Inc | EOG (26875P101) | 12,485 | $1,835,419.85 |
| 0.99% | Reinsurance Group of America Inc | RGA (759351604) | 7,417 | $1,817,387.51 |
| 0.99% | Sanmina Corp | SANM (801056102) | 8,859 | $1,826,282.85 |
| 0.96% | Broadcom Inc | AVGO (11135F101) | 4,864 | $1,772,344.32 |
| 0.96% | SLB Ltd | SLB (806857108) | 31,044 | $1,771,060.20 |
| 0.93% | Laureate Education Inc | LAUR (518613203) | 47,377 | $1,704,624.46 |
| 0.93% | Merck & Co Inc | MRK (58933Y105) | 11,582 | $1,708,692.46 |
| 0.91% | ELEVANCE HEALTH INC | ELV (036752103) | 4,246 | $1,677,934.28 |
| 0.88% | Qualys Inc | QLYS (74758T303) | 9,570 | $1,628,526.90 |
| 0.87% | Biogen Inc | BIIB (09062X103) | 7,604 | $1,602,390.92 |
| 0.86% | HCA Healthcare Inc | HCA (40412C101) | 3,769 | $1,589,877.27 |
| 0.83% | US BANK MMDA - USBGFS 9 09/01/2037 | 8AMMF0JA0 (8AMMF0JA0) | 1,523,311 | $1,523,310.91 |
| 0.83% | Baker Hughes Co | BKR (05722G100) | 24,101 | $1,533,787.64 |
| 0.83% | Bristol-Myers Squibb Co | BMY (110122108) | 23,786 | $1,532,056.26 |
| 0.83% | Eldorado Gold Corp | EGO (284902509) | 34,428 | $1,534,800.24 |
| 0.83% | Lam Research Corp | LRCX (512807306) | 4,847 | $1,530,876.48 |
| 0.83% | Oceaneering International Inc | OII (675232102) | 31,688 | $1,536,551.12 |
| 0.83% | PBF Energy Inc | PBF (69318G106) | 19,975 | $1,528,287.25 |
| 0.83% | Plexus Corp | PLXS (729132100) | 6,187 | $1,535,922.75 |
| 0.82% | Agnico Eagle Mines Ltd | AEM (008474108) | 7,406 | $1,500,233.42 |
| 0.82% | GEN DIGITAL INC | GEN (668771108) | 50,971 | $1,516,896.96 |
| 0.81% | NetScout Systems Inc | NTCT (64115T104) | 39,985 | $1,491,440.50 |
| 0.79% | Expeditors International of Washington Inc | EXPD (302130109) | 7,722 | $1,454,129.82 |
| 0.78% | US Bancorp | USB (902973304) | 23,020 | $1,429,772.20 |
| 0.77% | Automatic Data Processing Inc | ADP (053015103) | 5,319 | $1,410,705.18 |
| 0.77% | PNC Financial Services Group Inc/The | PNC (693475105) | 5,867 | $1,412,128.23 |
| 0.77% | Travelers Cos Inc/The | TRV (89417E109) | 3,881 | $1,418,893.60 |
| 0.75% | Check Point Software Technologies Ltd | CHKP (M22465104) | 10,204 | $1,378,152.24 |
| 0.75% | Pfizer Inc | PFE (717081103) | 49,987 | $1,388,638.86 |
| 0.74% | Covista Inc | CVSA (00737L103) | 10,886 | $1,370,656.26 |
| 0.73% | Paychex Inc | PAYX (704326107) | 11,790 | $1,352,902.50 |
| 0.68% | United Therapeutics Corp | UTHR (91307C102) | 2,471 | $1,252,352.22 |
| 0.66% | Shell PLC | SHEL (780259305) | 12,667 | $1,210,965.20 |
| 0.65% | Perdoceo Education Corp | PRDO (71363P106) | 36,150 | $1,199,457.00 |
| 0.64% | Allstate Corp/The | ALL (020002101) | 4,660 | $1,181,682.80 |
| 0.62% | Assurant Inc | AIZ (04621X108) | 4,058 | $1,138,025.52 |
| 0.62% | GSK PLC | GSK (37733W204) | 23,632 | $1,149,224.16 |
| 0.60% | CH Robinson Worldwide Inc | CHRW (12541W209) | 7,281 | $1,095,426.45 |
| 0.58% | Benchmark Electronics Inc | BHE (08160H101) | 14,405 | $1,071,587.95 |
| 0.58% | Hartford Insurance Group Inc/The | HIG (416515104) | 7,873 | $1,075,136.88 |
| 0.57% | Tenaris SA | TS (88031M109) | 18,363 | $1,057,525.17 |
| 0.55% | UiPath Inc | PATH (90364P105) | 74,264 | $1,007,762.48 |
| 0.55% | Paylocity Holding Corp | PCTY (70438V106) | 7,144 | $1,015,162.40 |
| 0.54% | Pearson PLC | PSO (705015105) | 62,837 | $988,426.01 |
| 0.54% | TriNet Group Inc | TNET (896288107) | 14,975 | $998,682.75 |
| 0.53% | CVS Health Corp | CVS (126650100) | 10,206 | $973,448.28 |
| 0.52% | Archrock Inc | AROC (03957W106) | 29,163 | $961,212.48 |
| 0.52% | NOV Inc | NOV (62955J103) | 44,056 | $948,085.12 |
| 0.52% | United Airlines Holdings Inc | UAL (910047109) | 8,994 | $963,437.28 |
| 0.51% | Equinox Gold Corp | EQX (29446Y502) | 72,560 | $932,396.00 |
| 0.51% | HealthEquity Inc | HQY (42226A107) | 10,088 | $934,754.08 |
| 0.50% | Analog Devices Inc | ADI (032654105) | 2,544 | $928,738.08 |
| 0.50% | Carnival Corp Ltd | CCL (G2004J103) | 40,584 | $921,256.80 |
| 0.50% | Progress Software Corp | PRGS (743312100) | 22,713 | $926,917.53 |
| 0.48% | ENCOMPASS HEALTH CORP | EHC (29261A100) | 7,288 | $885,637.76 |
| 0.48% | QUALCOMM Inc | QCOM (747525103) | 4,979 | $878,295.60 |
| 0.48% | SiriusPoint Ltd | SPNT (G8192H106) | 36,300 | $880,638.00 |
| 0.47% | Pan American Silver Corp | PAAS (697900108) | 16,209 | $857,456.10 |
| 0.47% | Weatherford International PLC | WFRD (G48833118) | 9,299 | $865,364.94 |
| 0.46% | Mercury General Corp | MCY (589400100) | 8,419 | $848,151.11 |
| 0.45% | Markel Group Inc | MKL (570535104) | 464 | $828,583.36 |
| 0.45% | Robert Half Inc | RHI (770323103) | 21,631 | $833,875.05 |
| 0.44% | Digi International Inc | DGII (253798102) | 11,786 | $812,173.26 |
| 0.42% | Universal Health Services Inc | UHS (913903100) | 4,354 | $765,346.12 |
| 0.41% | NETGEAR Inc | NTGR (64111Q104) | 36,150 | $753,366.00 |
| 0.40% | CTS Corp | CTS (126501105) | 12,961 | $727,630.54 |
| 0.40% | Graham Holdings Co | GHC (384637104) | 657 | $734,164.65 |
| 0.40% | Korn Ferry | KFY (500643200) | 9,133 | $740,960.29 |
| 0.40% | Hanover Insurance Group Inc/The | THG (410867105) | 3,309 | $740,885.10 |
| 0.40% | Urban Outfitters Inc | URBN (917047102) | 9,444 | $732,665.52 |
| 0.37% | GXO Logistics Inc | GXO (36262G101) | 14,671 | $677,653.49 |
| 0.37% | White Mountains Insurance Group Ltd | WTM (G9618E107) | 332 | $680,868.92 |
| 0.36% | NXP Semiconductors NV | NXPI (N6596X109) | 2,978 | $665,046.96 |
| 0.34% | Hub Group Inc | HUBG (443320106) | 17,786 | $628,557.24 |
| 0.33% | Gap Inc/The | GAP (364760108) | 28,577 | $610,404.72 |
| 0.32% | Diodes Inc | DIOD (254543101) | 6,490 | $584,554.30 |
| 0.31% | OneSpan Inc | OSPN (68287N100) | 34,937 | $562,485.70 |
| 0.28% | Fedex Freight Holding Co Inc | FDXF (314352105) | 4,179 | $521,497.41 |
| 0.27% | Cirrus Logic Inc | CRUS (172755100) | 4,476 | $495,582.72 |
| 0.27% | GLOBALFOUNDRIES Inc | GFS (G39387108) | 10,985 | $504,760.75 |
| 0.04% | Cash & Other | Cash&Other | $64,466.50 |
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. Prior to January 21, 2025, the Fund was operated as a mutual fund, not as an ETF. The ETF has the same investment objective, strategy, restrictions, and portfolio managers as the mutual fund. The quoted NAV performance reflects mutual fund performance prior to the conversion date.
Investors should consider the investment objectives, risks, charges, and expenses carefully before investing. The Prospectus contains this and other information about the Fund. For the current Prospectus, call toll-free 1-866-306-8117. Please read the Prospectus carefully before you invest.
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 Mid-Cap Blend category, for the 3-, 5-, and 10-year periods, LST is rated 4, 5, and 5 stars among 365, 345, and 264 funds. ©2026 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 is responsible for any damages or losses arising from any use of this information. Leuthold Funds’ adviser pays a license fee for the use of Morningstar Ratings.™
Risks of Investing in the Fund
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.
Quantitative Investment Approach Risk: The Fund utilizes a quantitative investment approach. There may be market conditions where the quantitative investment approach performs poorly.
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