HTUS vs. LBAY
HTUS (Hull Tactical US ETF) and LBAY (Leatherback Long/Short Alternative Yield ETF) are both exchange-traded funds - HTUS is a Equity Hedged fund actively managed by Exchange Traded Concepts, while LBAY is a Long-Short fund actively managed by Toroso Investments. Both are actively managed. Over the past 5 years, HTUS returned 14.61%/yr vs 5.90%/yr for LBAY. Their 0.26 correlation means their historical movements had little consistent relationship. HTUS charges 0.96%/yr vs 1.09%/yr for LBAY.
Performance
HTUS vs. LBAY - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with HTUS having a 10.86% return and LBAY slightly lower at 10.68%.
HTUS
- 1D
- 1.19%
- 1M
- 0.34%
- 6M
- 9.93%
- YTD
- 10.86%
- 1Y
- 22.65%
- 3Y*
- 19.29%
- 5Y*
- 14.61%
- 10Y*
- 12.41%
- ALL TIME*
- 11.54%
LBAY
- 1D
- -1.39%
- 1M
- 2.18%
- 6M
- 4.80%
- YTD
- 10.68%
- 1Y
- 12.00%
- 3Y*
- 2.86%
- 5Y*
- 5.90%
- 10Y*
- —
- ALL TIME*
- 8.58%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $530.02K | $526.22K | $608.25K | |
| $78.40K | $43.68K | $38.59K |
HTUS vs. LBAY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
HTUS Hull Tactical US ETF | 10.86% | 16.57% | 25.02% | 30.11% | -13.00% | 24.29% | 5.28% |
LBAY Leatherback Long/Short Alternative Yield ETF | 10.68% | 4.08% | -3.49% | -8.54% | 22.41% | 22.27% | 5.03% |
Correlation
The correlation between HTUS and LBAY is -0.14, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.14 |
Correlation (3Y) Balances recent behavior with more history. | 0.08 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.24 |
Correlation (All Time) Calculated using the full available price history since Nov 17, 2020 | 0.26 |
The correlation between HTUS and LBAY shifts across timeframes, from -0.14 (1 year) to 0.26 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HTUS vs. LBAY — Risk / Return Rank
HTUS
LBAY
HTUS vs. LBAY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hull Tactical US ETF (HTUS) 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.
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.
| HTUS | LBAY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.99 | ||
| Sortino ratioReturn per unit of downside risk | +1.36 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.13 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.43 | 0.90 | +1.53 |
| Martin ratioReturn relative to average drawdown | 11.54 | 2.00 | +9.54 |
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Drawdowns
HTUS vs. LBAY - Drawdown Comparison
The maximum HTUS drawdown since its inception was -47.50%, which is greater than LBAY's maximum drawdown of -15.99%. Use the drawdown chart below to compare losses from any high point for HTUS and LBAY.
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Drawdown Indicators
| HTUS | LBAY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.50% | -15.99% | -31.51% |
Max Drawdown (1Y)Largest decline over 1 year | -8.68% | -13.61% | +4.93% |
Max Drawdown (3Y)Largest decline over 3 years | -24.41% | -14.57% | -9.84% |
Max Drawdown (5Y)Largest decline over 5 years | -24.41% | -15.99% | -8.42% |
Max Drawdown (10Y)Largest decline over 10 years | -47.50% | — | — |
Current DrawdownCurrent decline from peak | -0.97% | -7.11% | +6.14% |
Average DrawdownAverage peak-to-trough decline | -4.02% | -6.88% | +2.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.83% | 6.11% | -4.28% |
Volatility
HTUS vs. LBAY - Volatility Comparison
The current volatility for Hull Tactical US ETF (HTUS) is 3.04%, while Leatherback Long/Short Alternative Yield ETF (LBAY) has a volatility of 6.70%. This indicates that HTUS experiences smaller price fluctuations and is considered to be less risky 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
| HTUS | LBAY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.04% | 6.70% | -3.66% |
Volatility (6M)Calculated over the trailing 6-month period | 10.24% | 13.83% | -3.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.28% | 16.91% | -4.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.09% | 13.78% | +5.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.50% | 13.99% | +7.51% |
HTUS vs. LBAY - Expense Ratio Comparison
HTUS has a 0.96% expense ratio, which is lower than LBAY's 1.09% expense ratio.
Dividends
HTUS vs. LBAY - Dividend Comparison
HTUS's dividend yield for the trailing twelve months is around 10.73%, more than LBAY's 3.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
HTUS Hull Tactical US ETF | 10.73% | 11.89% | 17.80% | 1.18% | 5.63% | 7.20% | 3.77% | 0.92% | 8.69% | 8.29% | 3.02% |
LBAY Leatherback Long/Short Alternative Yield ETF | 3.75% | 3.80% | 3.77% | 3.47% | 2.74% | 2.96% | 0.29% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HTUS and LBAY have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LBAY has higher volatility (6.70%) compared to HTUS (3.04%). In terms of maximum drawdown, HTUS dropped -47.50% vs LBAY's -15.99%.
On 5-year performance, HTUS leads with 14.61% vs 5.90% for LBAY. On fees, HTUS is cheaper at 0.96% per year. On volatility, HTUS has been the lower-risk option at 3.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HTUS has performed better with a 14.61% return vs 5.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HTUS is cheaper with a 0.96% expense ratio, compared with 1.09% for LBAY.
HTUS has the higher dividend yield at 10.73%, compared with 3.75% for LBAY.
HTUS is categorized as Equity Hedged, while LBAY is Long-Short. They also come from different issuers: Exchange Traded Concepts and Toroso Investments. Their fees differ too: 0.96% for HTUS and 1.09% for LBAY.
HTUS currently has the higher Sharpe Ratio (1.72 vs 0.72), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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