Leatherback Long/Short Alternative Yield ETF (LBAY)

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Leatherback Long/Short Alternative Yield ETF (LBAY) is up 2.9% since the beginning of the year. LBAY is currently trading at $25 per share. Investors who bought $1,000 worth of LBAY shares 5 years ago would now be looking at an investment worth $1,247.

Leatherback Long/Short Alternative Yield ETF (LBAY) has returned 2.94% so far this year and 3.91% over the past 12 months.

Based on dividend-adjusted daily data since Nov 17, 2020, LBAY's average daily return is +0.03%, while the average monthly return is +0.68%. At this rate, an investment would double in approximately 8.5 years.

Historically, 54% of months were positive and 46% were negative. The best month was Feb 2026 with a return of +12.8%, while the worst month was Dec 2024 at -8.8%. The longest winning streak lasted 6 consecutive months, and the longest losing streak was 4 months.

On a daily basis, LBAY closed higher 52% of trading days. The best single day was Feb 4, 2026 with a return of +3.9%, while the worst single day was Apr 4, 2025 at -5.1%.

Leatherback Long/Short Alternative Yield ETF has an annualized alpha of 3.68%, beta of 0.31, and R2 of 0.14 versus S&P 500 Index. Calculated based on daily prices since November 17, 2020.

• This ETF participated in 43.00% of S&P 500 Index downside but only 40.00% of its upside - more exposed to losses than it benefited from rallies.
• Beta of 0.31 may look defensive, but with R2 of 0.14 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
• R2 of 0.14 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

LBAY has a high expense ratio of 1.09%, indicating above-average management fees.

LBAY ranks 11 for risk / return — in the bottom 11% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.

Leatherback Long/Short Alternative Yield ETF provided a 3.93% dividend yield over the last twelve months, with an annual payout of $0.97 per share. The fund has been increasing its distributions for 5 consecutive years.

The table displays the monthly dividend distributions for Leatherback Long/Short Alternative Yield ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the Leatherback Long/Short Alternative Yield ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Leatherback Long/Short Alternative Yield ETF was 15.99%, occurring on Oct 27, 2023. Recovery took 568 trading sessions.

The current Leatherback Long/Short Alternative Yield ETF drawdown is 13.61%.

The chart below shows the rolling one-month volatility.