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:
$179,221,903 -
Shares Outstanding:
3,731,875 -
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 August 28, 2026| NAV | Price | ||
|---|---|---|---|
| Net Asset Value | $48.02 | Closing Price | $48.04 |
| Daily Change | $-0.26 | Daily Change | $-0.27 |
| Daily Change | -0.55% | Daily Change | -0.56% |
| Premium/Discount | 0.03% | ||
| Bid-Ask Spead (30 day median) | 0.08% |
Month End Performance
as of July 31, 2026Avg. Annualized
| 1 YR. | 3 YR. | 5 YR. | 10 YR. | 15 YR. | 20 YR. | 25 YR. | INCEPTION | |
|---|---|---|---|---|---|---|---|---|
| Fund NAV | 27.57% | 18.36% | 12.01% | 13.69% | 12.60% | 9.75% | 9.26% | 9.71% |
| Closing Price | 27.75% | 18.37% | 12.02% | 13.70% | 12.60% | 9.76% | 9.26% | 9.71% |
Cumulative
| YTD | 1 MO. | 3 MO. | 6 MO. | INCEPTION | |
|---|---|---|---|---|---|
| Fund NAV | 15.08% | -1.39% | 4.21% | 11.08% | 1,024.77% |
| Closing Price | 14.88% | -1.29% | 4.21% | 10.93% | 1,025.13% |
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 August 28, 2026| Percentage of Net Assets | Name | Identifier (Cusip) | Shares Held | Market Value |
|---|---|---|---|---|
| 2.10% | Dell Technologies Inc | DELL (24703L202) | 8,262 | $3,769,454.88 |
| 2.08% | Alphabet Inc | GOOGL (02079K305) | 10,763 | $3,730,348.17 |
| 2.02% | Microsoft Corp | MSFT (594918104) | 7,057 | $3,623,981.21 |
| 1.86% | Cardinal Health Inc | CAH (14149Y108) | 14,242 | $3,340,461.10 |
| 1.80% | McKesson Corp | MCK (58155Q103) | 3,619 | $3,233,178.41 |
| 1.68% | Cisco Systems Inc | CSCO (17275R102) | 27,320 | $3,003,287.60 |
| 1.64% | Advanced Micro Devices Inc | AMD (007903107) | 6,313 | $2,939,206.54 |
| 1.49% | FedEx Corp | FDX (31428X106) | 8,092 | $2,677,480.96 |
| 1.45% | Meta Platforms Inc | META (30303M102) | 4,490 | $2,595,309.80 |
| 1.44% | JPMORGAN CHASE & CO. | JPM (46625H100) | 7,219 | $2,581,658.78 |
| 1.41% | Citigroup Inc | C (172967424) | 18,998 | $2,524,834.20 |
| 1.41% | Kinross Gold Corp | KGC (496902404) | 80,773 | $2,525,771.71 |
| 1.36% | ServiceNow Inc | NOW (81762P102) | 16,893 | $2,444,586.03 |
| 1.35% | Flex Ltd | FLEX (Y2573F102) | 21,970 | $2,427,685.00 |
| 1.34% | United Parcel Service Inc | UPS (911312106) | 22,880 | $2,409,950.40 |
| 1.27% | Bank of America Corp | BAC (060505104) | 36,478 | $2,273,308.96 |
| 1.26% | Cencora Inc | COR (03073E105) | 7,017 | $2,259,684.51 |
| 1.25% | RenaissanceRe Holdings Ltd | RNR (G7496G103) | 6,773 | $2,240,102.02 |
| 1.21% | Everest Group Ltd | EG (G3223R108) | 5,747 | $2,170,124.67 |
| 1.19% | F5 Inc | FFIV (315616102) | 5,416 | $2,135,203.84 |
| 1.19% | Jabil Inc | JBL (466313103) | 7,050 | $2,125,222.50 |
| 1.17% | Amgen Inc | AMGN (031162100) | 4,841 | $2,093,345.22 |
| 1.17% | Canadian Imperial Bank of Commerce | CM (136069101) | 18,397 | $2,103,329.01 |
| 1.17% | Paycom Software Inc | PAYC (70432V102) | 8,814 | $2,102,403.42 |
| 1.09% | IAMGOLD Corp | IAG (450913108) | 94,943 | $1,954,876.37 |
| 1.09% | Regeneron Pharmaceuticals Inc | REGN (75886F107) | 2,457 | $1,951,324.83 |
| 1.09% | Vertex Pharmaceuticals Inc | VRTX (92532F100) | 3,610 | $1,955,500.90 |
| 1.08% | Johnson & Johnson | JNJ (478160104) | 7,206 | $1,931,496.24 |
| 1.04% | NVIDIA Corp | NVDA (67066G104) | 8,534 | $1,856,571.70 |
| 1.03% | Barclays PLC | BCS (06738E204) | 68,400 | $1,837,224.00 |
| 1.03% | Telefonaktiebolaget LM Ericsson | ERIC (294821608) | 184,744 | $1,838,202.80 |
| 1.03% | Gilead Sciences Inc | GILD (375558103) | 12,692 | $1,848,970.56 |
| 1.03% | TE Connectivity PLC | TEL (G87052109) | 9,111 | $1,846,435.26 |
| 1.02% | Marathon Petroleum Corp | MPC (56585A102) | 4,963 | $1,830,503.29 |
| 1.00% | Chevron Corp | CVX (166764100) | 8,885 | $1,793,526.10 |
| 1.00% | Tenet Healthcare Corp | THC (88033G407) | 6,734 | $1,796,631.20 |
| 0.99% | Laureate Education Inc | LAUR (518613203) | 45,842 | $1,778,669.60 |
| 0.98% | Reinsurance Group of America Inc | RGA (759351604) | 7,177 | $1,762,240.58 |
| 0.97% | Broadcom Inc | AVGO (11135F101) | 4,709 | $1,736,632.11 |
| 0.97% | EOG Resources Inc | EOG (26875P101) | 12,085 | $1,732,384.75 |
| 0.97% | Qualys Inc | QLYS (74758T303) | 9,260 | $1,732,083.00 |
| 0.96% | HF Sinclair Corp | DINO (403949100) | 17,261 | $1,721,094.31 |
| 0.96% | SLB Ltd | SLB (806857108) | 30,039 | $1,722,135.87 |
| 0.96% | ExxonMobil Holdings Corp | XOM (30233Q108) | 11,020 | $1,726,944.20 |
| 0.93% | Merck & Co Inc | MRK (58933Y105) | 11,207 | $1,662,558.45 |
| 0.93% | Sanmina Corp | SANM (801056102) | 8,574 | $1,663,441.74 |
| 0.90% | Biogen Inc | BIIB (09062X103) | 7,359 | $1,607,941.50 |
| 0.90% | ELEVANCE HEALTH INC | ELV (036752103) | 4,111 | $1,621,501.73 |
| 0.87% | Oceaneering International Inc | OII (675232102) | 30,663 | $1,551,241.17 |
| 0.86% | Bristol-Myers Squibb Co | BMY (110122108) | 23,016 | $1,532,405.28 |
| 0.85% | Eldorado Gold Corp | EGO (284902509) | 33,313 | $1,515,075.24 |
| 0.85% | GEN DIGITAL INC | GEN (668771108) | 49,321 | $1,529,937.42 |
| 0.85% | HCA Healthcare Inc | HCA (40412C101) | 3,649 | $1,524,625.18 |
| 0.84% | NetScout Systems Inc | NTCT (64115T104) | 38,690 | $1,511,231.40 |
| 0.83% | Automatic Data Processing Inc | ADP (053015103) | 5,149 | $1,480,234.52 |
| 0.82% | Agnico Eagle Mines Ltd | AEM (008474108) | 7,166 | $1,477,987.50 |
| 0.81% | Baker Hughes Co | BKR (05722G100) | 23,321 | $1,455,463.61 |
| 0.81% | Paychex Inc | PAYX (704326107) | 11,410 | $1,449,526.40 |
| 0.80% | Expeditors International of Washington Inc | EXPD (302130109) | 7,472 | $1,426,927.84 |
| 0.80% | Plexus Corp | PLXS (729132100) | 5,987 | $1,442,088.69 |
| 0.79% | Covista Inc | CVSA (00737L103) | 10,536 | $1,416,775.92 |
| 0.79% | Lam Research Corp | LRCX (512807306) | 4,692 | $1,416,514.80 |
| 0.78% | Travelers Cos Inc/The | TRV (89417E109) | 3,756 | $1,389,344.40 |
| 0.78% | US Bancorp | USB (902973304) | 22,275 | $1,391,519.25 |
| 0.77% | US BANK MMDA - USBGFS 9 09/01/2037 | 8AMMF0JA0 (8AMMF0JA0) | 1,383,001 | $1,383,001.24 |
| 0.77% | PBF Energy Inc | PBF (69318G106) | 19,330 | $1,377,842.40 |
| 0.77% | PNC Financial Services Group Inc/The | PNC (693475105) | 5,677 | $1,375,082.94 |
| 0.76% | Check Point Software Technologies Ltd | CHKP (M22465104) | 9,874 | $1,365,771.68 |
| 0.75% | Pfizer Inc | PFE (717081103) | 48,367 | $1,352,341.32 |
| 0.73% | UiPath Inc | PATH (90364P105) | 71,859 | $1,304,240.85 |
| 0.69% | United Therapeutics Corp | UTHR (91307C102) | 2,391 | $1,232,464.86 |
| 0.66% | Perdoceo Education Corp | PRDO (71363P106) | 34,980 | $1,174,278.60 |
| 0.65% | Allstate Corp/The | ALL (020002101) | 4,510 | $1,170,345.00 |
| 0.65% | GSK PLC | GSK (37733W204) | 22,867 | $1,162,100.94 |
| 0.62% | Assurant Inc | AIZ (04621X108) | 3,928 | $1,118,576.56 |
| 0.62% | Shell PLC | SHEL (780259305) | 12,257 | $1,114,283.87 |
| 0.61% | Paylocity Holding Corp | PCTY (70438V106) | 6,914 | $1,091,928.02 |
| 0.59% | CH Robinson Worldwide Inc | CHRW (12541W209) | 7,046 | $1,059,647.94 |
| 0.59% | Hartford Insurance Group Inc/The | HIG (416515104) | 7,618 | $1,055,473.90 |
| 0.57% | Pearson PLC | PSO (705015105) | 60,802 | $1,017,217.46 |
| 0.57% | TriNet Group Inc | TNET (896288107) | 14,490 | $1,018,212.30 |
| 0.55% | Benchmark Electronics Inc | BHE (08160H101) | 13,940 | $994,061.40 |
| 0.55% | Progress Software Corp | PRGS (743312100) | 21,978 | $983,735.28 |
| 0.54% | Carnival Corp Ltd | CCL (G2004J103) | 39,269 | $972,300.44 |
| 0.54% | Tenaris SA | TS (88031M109) | 17,768 | $958,938.96 |
| 0.54% | United Airlines Holdings Inc | UAL (910047109) | 8,704 | $962,662.40 |
| 0.53% | Robert Half Inc | RHI (770323103) | 20,931 | $948,383.61 |
| 0.52% | HealthEquity Inc | HQY (42226A107) | 9,763 | $940,860.31 |
| 0.51% | CVS Health Corp | CVS (126650100) | 9,876 | $919,060.56 |
| 0.51% | Equinox Gold Corp | EQX (29446Y502) | 70,210 | $912,027.90 |
| 0.50% | Analog Devices Inc | ADI (032654105) | 2,464 | $891,425.92 |
| 0.50% | NOV Inc | NOV (62955J103) | 42,631 | $894,824.69 |
| 0.49% | Archrock Inc | AROC (03957W106) | 28,218 | $881,530.32 |
| 0.48% | Digi International Inc | DGII (253798102) | 11,406 | $864,232.62 |
| 0.48% | ENCOMPASS HEALTH CORP | EHC (29261A100) | 7,053 | $852,355.05 |
| 0.47% | Mercury General Corp | MCY (589400100) | 8,149 | $839,102.53 |
| 0.47% | SiriusPoint Ltd | SPNT (G8192H106) | 35,125 | $849,322.50 |
| 0.47% | Weatherford International PLC | WFRD (G48833118) | 8,999 | $844,016.21 |
| 0.46% | Markel Group Inc | MKL (570535104) | 449 | $816,591.81 |
| 0.46% | Pan American Silver Corp | PAAS (697900108) | 15,684 | $829,213.08 |
| 0.44% | QUALCOMM Inc | QCOM (747525103) | 4,819 | $791,231.61 |
| 0.43% | Korn Ferry | KFY (500643200) | 8,838 | $762,542.64 |
| 0.41% | Graham Holdings Co | GHC (384637104) | 637 | $739,639.81 |
| 0.41% | NETGEAR Inc | NTGR (64111Q104) | 34,980 | $737,728.20 |
| 0.41% | Hanover Insurance Group Inc/The | THG (410867105) | 3,204 | $729,454.68 |
| 0.41% | Urban Outfitters Inc | URBN (917047102) | 9,139 | $741,081.51 |
| 0.40% | CTS Corp | CTS (126501105) | 12,541 | $709,444.37 |
| 0.40% | Universal Health Services Inc | UHS (913903100) | 4,214 | $723,375.24 |
| 0.38% | GXO Logistics Inc | GXO (36262G101) | 14,196 | $675,729.60 |
| 0.38% | Hub Group Inc | HUBG (443320106) | 17,211 | $681,727.71 |
| 0.38% | White Mountains Insurance Group Ltd | WTM (G9618E107) | 322 | $687,602.02 |
| 0.36% | Gap Inc/The | GAP (364760108) | 27,652 | $649,268.96 |
| 0.36% | NXP Semiconductors NV | NXPI (N6596X109) | 2,883 | $644,581.14 |
| 0.31% | Diodes Inc | DIOD (254543101) | 6,280 | $552,640.00 |
| 0.31% | OneSpan Inc | OSPN (68287N100) | 33,807 | $559,167.78 |
| 0.30% | Fedex Freight Holding Co Inc | FDXF (314352105) | 4,044 | $539,671.80 |
| 0.27% | GLOBALFOUNDRIES Inc | GFS (G39387108) | 10,630 | $475,798.80 |
| 0.26% | Cirrus Logic Inc | CRUS (172755100) | 4,331 | $469,826.88 |
| 0.04% | Cash & Other | Cash&Other | $71,066.37 |
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