HTUS vs. LBAY
HTUS (Hull Tactical US ETF) and LBAY (Leatherback Long/Short Alternative Yield ETF) are both Long-Short funds. Both are actively managed. Over the past 5 years, HTUS returned 15.01%/yr vs 4.52%/yr for LBAY. At a 0.28 correlation, their price movements are largely independent. HTUS charges 0.97%/yr vs 1.09%/yr for LBAY.
Performance
HTUS vs. LBAY - Performance Comparison
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Returns By Period
In the year-to-date period, HTUS achieves a 10.28% return, which is significantly higher than LBAY's 2.94% return.
HTUS
- 1D
- -0.50%
- 1M
- 0.21%
- YTD
- 10.28%
- 6M
- 10.25%
- 1Y
- 27.09%
- 3Y*
- 20.84%
- 5Y*
- 15.01%
- 10Y*
- 12.34%
LBAY
- 1D
- -0.82%
- 1M
- -4.77%
- YTD
- 2.94%
- 6M
- 3.57%
- 1Y
- 3.91%
- 3Y*
- 1.80%
- 5Y*
- 4.52%
- 10Y*
- —
HTUS vs. LBAY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
HTUS Hull Tactical US ETF | 10.28% | 16.57% | 25.02% | 30.11% | -13.00% | 24.29% | 5.28% |
LBAY Leatherback Long/Short Alternative Yield ETF | 2.94% | 4.08% | -3.49% | -8.54% | 22.41% | 22.27% | 5.03% |
Correlation
The correlation between HTUS and LBAY is -0.06, 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 (1Y) Calculated over the trailing 1-year period | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Nov 17, 2020 | 0.28 |
The correlation between HTUS and LBAY shifts across timeframes, from -0.06 (1 year) to 0.28 (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 | +2.02 | ||
| Sortino ratioReturn per unit of downside risk | +2.81 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.06 | +0.38 |
| Calmar ratioReturn relative to maximum drawdown | 3.13 | 0.29 | +2.84 |
| Martin ratioReturn relative to average drawdown | 15.60 | 0.74 | +14.85 |
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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 | -1.49% | -13.61% | +12.12% |
Average DrawdownAverage peak-to-trough decline | -4.05% | -6.83% | +2.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.74% | 5.27% | -3.53% |
Volatility
HTUS vs. LBAY - Volatility Comparison
Hull Tactical US ETF (HTUS) and Leatherback Long/Short Alternative Yield ETF (LBAY) have volatilities of 3.89% and 4.08%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. 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 | 3.89% | 4.08% | -0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 9.95% | 12.54% | -2.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.00% | 15.64% | -3.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.09% | 13.56% | +5.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.49% | 13.76% | +7.73% |
HTUS vs. LBAY - Expense Ratio Comparison
HTUS has a 0.97% 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 10.78%, more than LBAY's 3.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
HTUS Hull Tactical US ETF | 10.78% | 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 | 3.93% | 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 -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LBAY has higher volatility (4.08%) compared to HTUS (3.89%). In terms of maximum drawdown, HTUS dropped -47.50% vs LBAY's -15.99%.
On 5-year performance, HTUS leads with 15.01% vs 4.52% for LBAY. On fees, HTUS is cheaper at 0.97% per year. On volatility, HTUS has been the lower-risk option at 3.89%. 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 15.01% return vs 4.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HTUS is cheaper with a 0.97% expense ratio, compared with 1.09% for LBAY.
HTUS has the higher dividend yield at 10.78%, compared with 3.93% for LBAY.
They also come from different issuers: Exchange Traded Concepts and Toroso Investments. Their fees differ too: 0.97% for HTUS and 1.09% for LBAY.
HTUS currently has the higher Sharpe Ratio (2.27 vs 0.25), 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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