LBAY vs. FTRI
LBAY (Leatherback Long/Short Alternative Yield ETF) and FTRI (First Trust Indxx Global Natural Resources Income ETF) are both exchange-traded funds - LBAY is a Long-Short fund actively managed by Toroso Investments, while FTRI is a Natural Resources fund tracking the Indxx Global Natural Resources Income Index. LBAY is actively managed, while FTRI is passively managed. Over the past 5 years, LBAY returned 5.28%/yr vs 7.46%/yr for FTRI. A 0.56 correlation means they provide meaningful diversification when combined. LBAY charges 1.09%/yr vs 0.70%/yr for FTRI.
Performance
LBAY vs. FTRI - Performance Comparison
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Returns By Period
In the year-to-date period, LBAY achieves a 7.27% return, which is significantly higher than FTRI's 4.02% return.
LBAY
- 1D
- 1.00%
- 1M
- 0.42%
- 6M
- 4.98%
- YTD
- 7.27%
- 1Y
- 7.09%
- 3Y*
- 2.46%
- 5Y*
- 5.28%
- 10Y*
- —
FTRI
- 1D
- -0.05%
- 1M
- -4.36%
- 6M
- -2.46%
- YTD
- 4.02%
- 1Y
- 13.65%
- 3Y*
- 11.57%
- 5Y*
- 7.46%
- 10Y*
- 9.32%
LBAY vs. FTRI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
LBAY Leatherback Long/Short Alternative Yield ETF | 7.27% | 4.08% | -3.49% | -8.54% | 22.41% | 22.27% | 5.03% |
FTRI First Trust Indxx Global Natural Resources Income ETF | 4.02% | 33.62% | -3.93% | 1.53% | 7.49% | 25.29% | 11.30% |
Correlation
The correlation between LBAY and FTRI is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Nov 17, 2020 | 0.56 |
The correlation between LBAY and FTRI shifts across timeframes, from 0.43 (1 year) to 0.56 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
LBAY vs. FTRI — Risk / Return Rank
LBAY
FTRI
LBAY vs. FTRI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leatherback Long/Short Alternative Yield ETF (LBAY) and First Trust Indxx Global Natural Resources Income ETF (FTRI). 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.
| LBAY | FTRI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.32 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.14 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.52 | 0.80 | -0.28 |
| Martin ratioReturn relative to average drawdown | 1.22 | 2.24 | -1.03 |
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Drawdowns
LBAY vs. FTRI - Drawdown Comparison
The maximum LBAY drawdown since its inception was -15.99%, smaller than the maximum FTRI drawdown of -43.82%. Use the drawdown chart below to compare losses from any high point for LBAY and FTRI.
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Drawdown Indicators
| LBAY | FTRI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.99% | -43.82% | +27.83% |
Max Drawdown (1Y)Largest decline over 1 year | -13.61% | -17.04% | +3.43% |
Max Drawdown (3Y)Largest decline over 3 years | -14.57% | -17.04% | +2.47% |
Max Drawdown (5Y)Largest decline over 5 years | -15.99% | -27.51% | +11.52% |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.82% | — |
Current DrawdownCurrent decline from peak | -9.97% | -14.72% | +4.75% |
Average DrawdownAverage peak-to-trough decline | -6.87% | -8.52% | +1.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.84% | 6.10% | -0.26% |
Volatility
LBAY vs. FTRI - Volatility Comparison
Leatherback Long/Short Alternative Yield ETF (LBAY) has a higher volatility of 6.58% compared to First Trust Indxx Global Natural Resources Income ETF (FTRI) at 5.80%. This indicates that LBAY's price experiences larger fluctuations and is considered to be riskier than FTRI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LBAY | FTRI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.58% | 5.80% | +0.78% |
Volatility (6M)Calculated over the trailing 6-month period | 13.21% | 14.91% | -1.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.45% | 18.32% | -1.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.70% | 20.77% | -7.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.89% | 21.90% | -8.01% |
LBAY vs. FTRI - Expense Ratio Comparison
LBAY has a 1.09% expense ratio, which is higher than FTRI's 0.70% expense ratio.
Dividends
LBAY vs. FTRI - Dividend Comparison
LBAY's dividend yield for the trailing twelve months is around 3.82%, more than FTRI's 2.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTRI First Trust Indxx Global Natural Resources Income ETF | 2.16% | 2.35% | 4.29% | 6.56% | 8.37% | 6.58% | 3.64% | 6.25% | 4.24% | 3.60% | 2.96% | 0.89% |
LBAY Leatherback Long/Short Alternative Yield ETF | 3.82% | 3.80% | 3.77% | 3.47% | 2.74% | 2.96% | 0.29% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
LBAY and FTRI have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LBAY has higher volatility (6.58%) compared to FTRI (5.80%). In terms of maximum drawdown, LBAY dropped -15.99% vs FTRI's -43.82%.
On 5-year performance, FTRI leads with 7.46% vs 5.28% for LBAY. On fees, FTRI is cheaper at 0.70% per year. On volatility, FTRI has been the lower-risk option at 5.80%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FTRI has performed better with a 7.46% return vs 5.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FTRI is cheaper with a 0.70% expense ratio, compared with 1.09% for LBAY.
LBAY has the higher dividend yield at 3.82%, compared with 2.16% for FTRI.
LBAY is categorized as Long-Short, while FTRI is Natural Resources. They also come from different issuers: Toroso Investments and First Trust. Their fees differ too: 1.09% for LBAY and 0.70% for FTRI.
FTRI currently has the higher Sharpe Ratio (0.75 vs 0.43), 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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