Newcomer Debuts Multifactor ETF

New fund uses several characteristics to select its portfolio.
Reviewed by: Staff
Edited by: Staff

Today newcomer LeaderShares launched a multifactor ETF targeting the largest 1,000 stocks in the U.S. as its universe. The LeaderShares AlphaFactor US Core Equity ETF (LSAF) applies a multifactor process that considers such factors as net share count reduction, free cash flow growth and debt/asset ratios, among others.

LSAF comes with an expense ratio of 0.75% and lists on the NYSE Arca.

The fund’s underlying index also incorporates liquidity and market capitalization into its selection process near the end. The final list of stocks is equal weighted, with rebalancings and reconstitutions occurring on a quarterly basis. As of the end of June, the index included 100 constituents, according to the fund prospectus.

Redwood Investment Management serves as LSAF’s investment advisor.

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