Leatherback Long/Short Alternative Yield ETF (LBAY)

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The chart shows the growth of an initial investment of $10,000 in Leatherback Long/Short Alternative Yield ETF, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

Leatherback Long/Short Alternative Yield ETF (LBAY) has returned 15.90% so far this year and 12.14% over the past 12 months.

Based on dividend-adjusted daily data since Nov 17, 2020, LBAY's average daily return is +0.04%, while the average monthly return is +0.88%. At this rate, your investment would double in approximately 6.6 years.

Historically, 57% of months were positive and 43% 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 3 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 6.67%, beta of 0.32, and R² of 0.16 versus S&P 500 Index. Calculated based on daily prices since November 18, 2020.

• This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (50.83%) than losses (40.84%) — typical of diversified or defensive assets.
• Beta of 0.32 may look defensive, but with R² of 0.16 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 0.16 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 40 for risk / return — below 40% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.

The table below present risk-adjusted performance metrics for Leatherback Long/Short Alternative Yield ETF (LBAY) and compare them to a chosen benchmark (S&P 500 Index).

Leatherback Long/Short Alternative Yield ETF provided a 3.40% dividend yield over the last twelve months, with an annual payout of $0.95 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 2.73%.

The chart below shows the rolling one-month volatility.