- CUSIP
- 26922B105
- Issuer
- Little Harbor Advisors
- Inception Date
- Sep 29, 2020
- Region
- North America (U.S.)
- Category
- Equity Hedged
- Leveraged
- 1x (No leverage)
- Index Tracked
- S&P 500® Index
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $179M
Share Price Chart
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Performance
MSTB Performance Chart
LHA Market State Tactical Beta ETF (MSTB) is up 7.2% since the beginning of the year. MSTB is currently trading at $43 per share. Investors who bought $1,000 worth of MSTB shares 5 years ago would now be looking at an investment worth $1,486.
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Returns By Period
LHA Market State Tactical Beta ETF (MSTB) has returned 7.15% so far this year and 19.40% over the past 12 months.
LHA Market State Tactical Beta ETF
- 1D
- -0.13%
- 1M
- -0.37%
- YTD
- 7.15%
- 6M
- 6.76%
- 1Y
- 19.40%
- 3Y*
- 17.56%
- 5Y*
- 8.24%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
MSTB Monthly Returns History
Based on dividend-adjusted daily data since Sep 30, 2020, MSTB's average daily return is +0.05%, while the average monthly return is +0.95%. At this rate, an investment would double in approximately 6.1 years.
Historically, 64% of months were positive and 36% were negative. The best month was Apr 2026 with a return of +9.2%, while the worst month was Apr 2022 at -8.5%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 3 months.
On a daily basis, MSTB closed higher 53% of trading days. The best single day was Nov 10, 2022 with a return of +4.6%, while the worst single day was Dec 17, 2021 at -4.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.63% | -0.35% | -4.32% | 9.24% | 3.98% | -1.67% | 7.15% | ||||||
| 2025 | 2.48% | -1.14% | -5.64% | 5.67% | 4.95% | 3.89% | 1.84% | 1.43% | 3.41% | 2.66% | -1.86% | 0.04% | 18.57% |
| 2024 | 1.75% | 5.15% | 2.97% | -5.17% | 4.22% | 3.91% | 1.59% | 2.21% | 0.95% | -1.38% | 4.34% | -2.64% | 18.82% |
| 2023 | 5.24% | -2.63% | 2.74% | 0.21% | 0.10% | 4.97% | 3.01% | -2.42% | -4.58% | -3.04% | 8.56% | 4.49% | 16.94% |
| 2022 | -6.14% | -3.11% | 3.44% | -8.47% | -1.80% | -8.47% | 7.38% | -3.40% | -6.76% | 5.77% | 4.38% | -6.47% | -22.72% |
| 2021 | 0.86% | 2.71% | 2.44% | 5.32% | -0.56% | 2.03% | 1.73% | 2.95% | -5.73% | 5.71% | -0.72% | 3.74% | 21.89% |
Benchmark Metrics
LHA Market State Tactical Beta ETF has an annualized alpha of 0.41%, beta of 0.72, and R2 of 0.75 versus S&P 500 Index. Calculated based on daily prices since September 30, 2020.
- This ETF participated in 92.19% of S&P 500 Index downside but only 79.69% of its upside - more exposed to losses than it benefited from rallies.
- Alpha
- 0.41%
- Beta
- 0.72
- R²
- 0.75
- Upside Capture
- 79.69%
- Downside Capture
- 92.19%
Expense Ratio
MSTB has a high expense ratio of 1.40%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
MSTB ranks 53 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for LHA Market State Tactical Beta ETF (MSTB) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MSTB | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.37 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.34 | 2.78 | -0.44 |
| Martin ratioReturn relative to average drawdown | 8.70 | 12.44 | -3.74 |
Dividends
Dividend History
LHA Market State Tactical Beta ETF provided a 0.38% dividend yield over the last twelve months, with an annual payout of $0.16 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Dividend | $0.16 | $0.16 | $0.32 | $0.05 | $0.33 | $0.71 | $0.48 |
Dividend yield | 0.38% | 0.41% | 0.95% | 0.16% | 1.34% | 2.20% | 1.78% |
Monthly Dividends
The table displays the monthly dividend distributions for LHA Market State Tactical Beta ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.16 | $0.16 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.32 | $0.32 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.05 | $0.05 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.33 | $0.33 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.71 | $0.71 |
Drawdowns
Drawdowns Chart
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.
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Worst Drawdowns
The table below displays the maximum drawdowns of the LHA Market State Tactical Beta 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 LHA Market State Tactical Beta ETF was 25.64%, occurring on Oct 14, 2022. Recovery took 416 trading sessions.
The current LHA Market State Tactical Beta ETF drawdown is 2.03%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -25.64%Oct 2022 | 9mo 13d | 1y 8mo | 2y 5moJan 2022 - Jun 2024 |
2025 selloff2025 | -10.81%Apr 2025 | 2mo 13d | 1mo 5d | 3mo 18dJan 2025 - May 2025 |
2026 pullback2026 | -8.31%Mar 2026 | 5mo 1d | 17d | 5mo 18dOct 2025 - Apr 2026 |
2021 pullback2021 | -6.18%Oct 2021 | 1mo 9d | 22d | 2mo 1dSep 2021 - Nov 2021 |
2021 pullback2021 | -5.80%Dec 2021 | 28d | 6d | 1mo 4dNov 2021 - Dec 2021 |
Drawdown Indicators
| MSTB | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.64% | -56.78% | +31.14% |
Max Drawdown (1Y)Largest decline over 1 year | -8.31% | -9.10% | +0.79% |
Max Drawdown (3Y)Largest decline over 3 years | -10.81% | -18.90% | +8.09% |
Max Drawdown (5Y)Largest decline over 5 years | -25.64% | -25.43% | -0.21% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -2.03% | -1.80% | -0.23% |
Average DrawdownAverage peak-to-trough decline | -7.13% | -10.71% | +3.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.23% | 2.03% | +0.20% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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