EMPB vs. LBAY

Last updated Apr 2, 2026

Compare and contrast key facts about Efficient Market Portfolio Plus ETF (EMPB) and Leatherback Long/Short Alternative Yield ETF (LBAY).

EMPB and LBAY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EMPB is an actively managed fund by Empowered Funds. It was launched on Dec 11, 2024. LBAY is an actively managed fund by Toroso Investments. It was launched on Nov 16, 2020.

Performance

EMPB vs. LBAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Efficient Market Portfolio Plus ETF (EMPB) and Leatherback Long/Short Alternative Yield ETF (LBAY). The values are adjusted to include any dividend payments, if applicable.

EMPB vs. LBAY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EMPB Efficient Market Portfolio Plus ETF	1.99%	14.84%	0.89%
LBAY Leatherback Long/Short Alternative Yield ETF	15.70%	4.08%	-4.47%

Returns By Period

In the year-to-date period, EMPB achieves a 1.99% return, which is significantly lower than LBAY's 15.70% return.

EMPB

• 1D: 0.67%
• 1M: -1.63%
• YTD: 1.99%
• 6M: 0.25%
• 1Y: 17.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

LBAY

• 1D: -0.17%
• 1M: -2.46%
• YTD: 15.70%
• 6M: 13.71%
• 1Y: 12.46%
• 3Y*: 4.32%
• 5Y*: 7.41%
• 10Y*: —

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

EMPB vs. LBAY - Expense Ratio Comparison

EMPB has a 1.82% expense ratio, which is higher than LBAY's 1.09% expense ratio.

EMPB

Efficient Market Portfolio Plus ETF

LBAY

Leatherback Long/Short Alternative Yield ETF

Return for Risk

EMPB vs. LBAY — Risk / Return Rank

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

EMPB

EMPB Risk / Return Rank: 75
EMPB Sharpe Ratio Rank: 74
EMPB Sortino Ratio Rank: 78
EMPB Omega Ratio Rank: 67
EMPB Calmar Ratio Rank: 85
EMPB Martin Ratio Rank: 72

LBAY

LBAY Risk / Return Rank: 38
LBAY Sharpe Ratio Rank: 39
LBAY Sortino Ratio Rank: 41
LBAY Omega Ratio Rank: 35
LBAY Calmar Ratio Rank: 45
LBAY Martin Ratio Rank: 32

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.

EMPB vs. LBAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Efficient Market Portfolio Plus ETF (EMPB) 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.

	EMPB	LBAY	Difference
Sharpe ratio Return per unit of total volatility	1.42	0.77	+0.65
Sortino ratio Return per unit of downside risk	2.11	1.23	+0.88
Omega ratio Gain probability vs. loss probability	1.26	1.15	+0.11
Calmar ratio Return relative to maximum drawdown	2.91	1.23	+1.68
Martin ratio Return relative to average drawdown	8.50	2.98	+5.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMPB vs. LBAY - Sharpe Ratio Comparison

The current EMPB Sharpe Ratio is 1.42, which is higher than the LBAY Sharpe Ratio of 0.77. The chart below compares the historical Sharpe Ratios of EMPB and LBAY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EMPB	LBAY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.42	0.77	+0.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.55	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.13	0.73	+0.40

Correlation

The correlation between EMPB and LBAY is -0.05. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

EMPB vs. LBAY - Dividend Comparison

EMPB's dividend yield for the trailing twelve months is around 0.86%, less than LBAY's 3.41% yield.

	TTM	2025	2024	2023	2022	2021	2020
EMPB Efficient Market Portfolio Plus ETF	0.86%	0.88%	0.28%	0.00%	0.00%	0.00%	0.00%
LBAY Leatherback Long/Short Alternative Yield ETF	3.41%	3.80%	3.77%	3.47%	2.74%	2.96%	0.29%

Drawdowns

EMPB vs. LBAY - Drawdown Comparison

The maximum EMPB drawdown since its inception was -7.55%, smaller than the maximum LBAY drawdown of -15.99%. Use the drawdown chart below to compare losses from any high point for EMPB and LBAY.

Drawdown Indicators

	EMPB	LBAY	Difference
Max Drawdown Largest peak-to-trough decline	-7.55%	-15.99%	+8.44%
Max Drawdown (1Y) Largest decline over 1 year	-5.98%	-9.71%	+3.73%
Max Drawdown (5Y) Largest decline over 5 years	—	-15.99%	—
Current Drawdown Current decline from peak	-2.34%	-2.89%	+0.55%
Average Drawdown Average peak-to-trough decline	-1.64%	-6.77%	+5.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.05%	4.01%	-1.96%

Volatility

EMPB vs. LBAY - Volatility Comparison

Efficient Market Portfolio Plus ETF (EMPB) has a higher volatility of 5.79% compared to Leatherback Long/Short Alternative Yield ETF (LBAY) at 5.17%. This indicates that EMPB'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.

Volatility by Period

	EMPB	LBAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.79%	5.17%	+0.62%
Volatility (6M) Calculated over the trailing 6-month period	9.51%	12.15%	-2.64%
Volatility (1Y) Calculated over the trailing 1-year period	12.22%	16.17%	-3.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.25%	13.48%	-1.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.25%	13.66%	-1.41%