ATTR vs. LBAY

Last updated Jun 4, 2026

ATTR (Arin Tactical Tail Risk ETF) and LBAY (Leatherback Long/Short Alternative Yield ETF) are both Long-Short funds. Both are actively managed. At a correlation of -0.08, they often move in opposite directions. ATTR charges 0.63%/yr vs 1.09%/yr for LBAY.

Performance

ATTR vs. LBAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Arin Tactical Tail Risk ETF (ATTR) and Leatherback Long/Short Alternative Yield ETF (LBAY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ATTR achieves a 4.25% return, which is significantly lower than LBAY's 6.38% return.

ATTR

• 1D: -0.12%
• 1M: 0.85%
• YTD: 4.25%
• 6M: 4.37%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

LBAY

• 1D: 0.25%
• 1M: -1.27%
• YTD: 6.38%
• 6M: 7.19%
• 1Y: 7.78%
• 3Y*: 3.38%
• 5Y*: 3.82%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ATTR vs. LBAY - Yearly Performance Comparison

	2026 (YTD)	2025
ATTR Arin Tactical Tail Risk ETF	4.25%	0.58%
LBAY Leatherback Long/Short Alternative Yield ETF	6.38%	0.14%

Correlation

The correlation between ATTR and LBAY is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 29, 2025	-0.08

Return for Risk

ATTR vs. LBAY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

LBAY

LBAY Risk / Return Rank: 17
LBAY Sharpe Ratio Rank: 17
LBAY Sortino Ratio Rank: 17
LBAY Omega Ratio Rank: 16
LBAY Calmar Ratio Rank: 17
LBAY Martin Ratio Rank: 17

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ATTR vs. LBAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Arin Tactical Tail Risk ETF (ATTR) and Leatherback Long/Short Alternative Yield ETF (LBAY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	ATTR	LBAY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.51	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.28	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.81	0.58	+2.23

Drawdowns

ATTR vs. LBAY - Drawdown Comparison

The maximum ATTR drawdown since its inception was -1.76%, smaller than the maximum LBAY drawdown of -15.99%. Use the drawdown chart below to compare losses from any high point for ATTR and LBAY.

Drawdown Indicators

	ATTR	LBAY	Difference
Max Drawdown Largest peak-to-trough decline	-1.76%	-15.99%	+14.23%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.91%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-14.57%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.99%	—
Current Drawdown Current decline from peak	-0.19%	-10.72%	+10.53%
Average Drawdown Average peak-to-trough decline	-0.18%	-6.80%	+6.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.66%	—

Volatility

Volatility by Period

	ATTR	LBAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.78%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.87%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.97%	15.25%	-12.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.97%	13.59%	-10.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.97%	13.73%	-10.76%

ATTR vs. LBAY - Expense Ratio Comparison

ATTR has a 0.63% expense ratio, which is lower than LBAY's 1.09% expense ratio.

Dividends

ATTR vs. LBAY - Dividend Comparison

ATTR has not paid dividends to shareholders, while LBAY's dividend yield for the trailing twelve months is around 3.80%.

Position	TTM	2025	2024	2023	2022	2021	2020
ATTR Arin Tactical Tail Risk ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
LBAY Leatherback Long/Short Alternative Yield ETF	3.80%	3.80%	3.77%	3.47%	2.74%	2.96%	0.29%

Frequently Asked Questions

Can I hold both ATTR and LBAY in my portfolio?

ATTR and LBAY have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ATTR or LBAY?

On fees, ATTR is cheaper at 0.63% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ATTR or LBAY?

ATTR is cheaper with a 0.63% expense ratio, compared with 1.09% for LBAY.

Which ETF pays a higher dividend yield, ATTR or LBAY?

LBAY has the higher dividend yield at 3.80%, compared with 0.00% for ATTR.

What is the main difference between ATTR and LBAY?

They also come from different issuers: Arin Risk Advisors and Toroso Investments. Their fees differ too: 0.63% for ATTR and 1.09% for LBAY.