BOAT vs. LBAY
Compare and contrast key facts about SonicShares Global Shipping ETF (BOAT) and Leatherback Long/Short Alternative Yield ETF (LBAY).
BOAT and LBAY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BOAT is a passively managed fund by Toroso Investments that tracks the performance of the Solactive Global Shipping Index - Benchmark TR Net. It was launched on Aug 3, 2021. LBAY is an actively managed fund by Toroso Investments. It was launched on Nov 16, 2020.
Performance
BOAT vs. LBAY - Performance Comparison
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BOAT vs. LBAY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BOAT SonicShares Global Shipping ETF | 29.88% | 22.77% | 5.97% | 24.53% | 6.26% | 23.18% |
LBAY Leatherback Long/Short Alternative Yield ETF | 15.90% | 4.08% | -3.49% | -8.54% | 22.41% | 7.90% |
Returns By Period
In the year-to-date period, BOAT achieves a 29.88% return, which is significantly higher than LBAY's 15.90% return.
BOAT
- 1D
- 2.65%
- 1M
- -2.18%
- YTD
- 29.88%
- 6M
- 35.58%
- 1Y
- 66.85%
- 3Y*
- 23.86%
- 5Y*
- —
- 10Y*
- —
LBAY
- 1D
- -0.68%
- 1M
- -2.73%
- YTD
- 15.90%
- 6M
- 14.05%
- 1Y
- 12.14%
- 3Y*
- 4.38%
- 5Y*
- 7.44%
- 10Y*
- —
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BOAT vs. LBAY - Expense Ratio Comparison
BOAT has a 0.69% expense ratio, which is lower than LBAY's 1.09% expense ratio.
Return for Risk
BOAT vs. LBAY — Risk / Return Rank
BOAT
LBAY
BOAT vs. LBAY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SonicShares Global Shipping ETF (BOAT) 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.
| BOAT | LBAY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.73 | 0.75 | +1.98 |
Sortino ratioReturn per unit of downside risk | 3.40 | 1.20 | +2.20 |
Omega ratioGain probability vs. loss probability | 1.49 | 1.15 | +0.34 |
Calmar ratioReturn relative to maximum drawdown | 4.17 | 1.36 | +2.80 |
Martin ratioReturn relative to average drawdown | 16.10 | 3.16 | +12.94 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BOAT | LBAY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.73 | 0.75 | +1.98 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.55 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.97 | 0.73 | +0.23 |
Correlation
The correlation between BOAT and LBAY is 0.27, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
BOAT vs. LBAY - Dividend Comparison
BOAT's dividend yield for the trailing twelve months is around 6.31%, more than LBAY's 3.40% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BOAT SonicShares Global Shipping ETF | 6.31% | 8.08% | 13.89% | 13.65% | 13.57% | 1.36% | 0.00% |
LBAY Leatherback Long/Short Alternative Yield ETF | 3.40% | 3.80% | 3.77% | 3.47% | 2.74% | 2.96% | 0.29% |
Drawdowns
BOAT vs. LBAY - Drawdown Comparison
The maximum BOAT drawdown since its inception was -33.94%, which is greater than LBAY's maximum drawdown of -15.99%. Use the drawdown chart below to compare losses from any high point for BOAT and LBAY.
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Drawdown Indicators
| BOAT | LBAY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.94% | -15.99% | -17.95% |
Max Drawdown (1Y)Largest decline over 1 year | -15.62% | -9.71% | -5.91% |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.99% | — |
Current DrawdownCurrent decline from peak | -4.37% | -2.73% | -1.64% |
Average DrawdownAverage peak-to-trough decline | -9.94% | -6.77% | -3.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.04% | 4.18% | -0.14% |
Volatility
BOAT vs. LBAY - Volatility Comparison
SonicShares Global Shipping ETF (BOAT) has a higher volatility of 8.91% compared to Leatherback Long/Short Alternative Yield ETF (LBAY) at 5.55%. This indicates that BOAT's price experiences larger fluctuations and is considered to be riskier than LBAY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BOAT | LBAY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.91% | 5.55% | +3.36% |
Volatility (6M)Calculated over the trailing 6-month period | 14.42% | 12.16% | +2.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.61% | 16.19% | +8.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.25% | 13.49% | +11.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.25% | 13.66% | +11.59% |