EQLS vs. LBAY
Compare and contrast key facts about Simplify Market Neutral Equity Long/Short ETF (EQLS) and Leatherback Long/Short Alternative Yield ETF (LBAY).
EQLS and LBAY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EQLS is an actively managed fund by Simplify. It was launched on Jun 13, 2023. LBAY is an actively managed fund by Toroso Investments. It was launched on Nov 16, 2020.
Performance
EQLS vs. LBAY - Performance Comparison
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EQLS vs. LBAY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
EQLS Simplify Market Neutral Equity Long/Short ETF | 0.00% | 6.82% | -4.82% | -3.63% |
LBAY Leatherback Long/Short Alternative Yield ETF | 15.90% | 4.08% | -3.49% | 2.43% |
Returns By Period
EQLS
- 1D
- —
- 1M
- —
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 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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EQLS vs. LBAY - Expense Ratio Comparison
EQLS has a 1.00% expense ratio, which is lower than LBAY's 1.09% expense ratio.
Return for Risk
EQLS vs. LBAY — Risk / Return Rank
EQLS
LBAY
EQLS vs. LBAY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Market Neutral Equity Long/Short ETF (EQLS) 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.
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Sharpe Ratios by Period
| EQLS | LBAY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 0.75 | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.55 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | — | 0.73 | — |
Correlation
The correlation between EQLS and LBAY is -0.22. 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
EQLS vs. LBAY - Dividend Comparison
EQLS has not paid dividends to shareholders, while LBAY's dividend yield for the trailing twelve months is around 3.40%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
EQLS Simplify Market Neutral Equity Long/Short ETF | 0.00% | 0.45% | 0.95% | 8.50% | 0.00% | 0.00% | 0.00% |
LBAY Leatherback Long/Short Alternative Yield ETF | 3.40% | 3.80% | 3.77% | 3.47% | 2.74% | 2.96% | 0.29% |
Drawdowns
EQLS vs. LBAY - Drawdown Comparison
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Drawdown Indicators
| EQLS | LBAY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | — | -15.99% | — |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.71% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.99% | — |
Current DrawdownCurrent decline from peak | — | -2.73% | — |
Average DrawdownAverage peak-to-trough decline | — | -6.77% | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 4.18% | — |
Volatility
EQLS vs. LBAY - Volatility Comparison
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Volatility by Period
| EQLS | LBAY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.55% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 12.16% | — |
Volatility (1Y)Calculated over the trailing 1-year period | — | 16.19% | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | — | 13.49% | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | — | 13.66% | — |