Thats exactly it leasx, I can compare their respective...

Thats exactly it leasx, I can compare their respective performance, and their costs. The management fees 1.54% and perormance fee of 20% above their watermark is absurd. And you think LSF is less volatile? Pull up a 5 year chart comparing LSF and have a look. They lost 50% of their value in 4 months in 2019/2020. Your right the S&P 500 is not a great comparison, but what is? A mix off international and australian etfs perform closely, and often alot better, but have significantly lower costs. If you are paying for lower risk, you have invested in the worng etf judging by performance. Hopefully next crash they perform as they suggest they will, rather than how they did last time. Thats when il exit and buy low cost etfs at a lower comparative cost than lsf.