LBAY vs. HTUS
LBAY (Leatherback Long/Short Alternative Yield ETF) and HTUS (Hull Tactical US ETF) are both Long-Short funds. Both are actively managed. Over the past 5 years, LBAY returned 4.52%/yr vs 15.01%/yr for HTUS. At a 0.28 correlation, their price movements are largely independent. LBAY charges 1.09%/yr vs 0.97%/yr for HTUS.
Performance
LBAY vs. HTUS - Performance Comparison
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Returns By Period
In the year-to-date period, LBAY achieves a 2.94% return, which is significantly lower than HTUS's 10.28% return.
LBAY
- 1D
- -0.82%
- 1M
- -4.77%
- YTD
- 2.94%
- 6M
- 3.57%
- 1Y
- 3.91%
- 3Y*
- 1.80%
- 5Y*
- 4.52%
- 10Y*
- —
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 vs. HTUS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
LBAY Leatherback Long/Short Alternative Yield ETF | 2.94% | 4.08% | -3.49% | -8.54% | 22.41% | 22.27% | 5.03% |
HTUS Hull Tactical US ETF | 10.28% | 16.57% | 25.02% | 30.11% | -13.00% | 24.29% | 5.28% |
Correlation
The correlation between LBAY and HTUS 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 LBAY and HTUS 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
LBAY vs. HTUS — Risk / Return Rank
LBAY
HTUS
LBAY vs. HTUS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leatherback Long/Short Alternative Yield ETF (LBAY) and Hull Tactical US ETF (HTUS). 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 | HTUS | 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 | 1.06 | 1.44 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | 0.29 | 3.13 | -2.84 |
| Martin ratioReturn relative to average drawdown | 0.74 | 15.60 | -14.85 |
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Drawdowns
LBAY vs. HTUS - Drawdown Comparison
The maximum LBAY drawdown since its inception was -15.99%, smaller than the maximum HTUS drawdown of -47.50%. Use the drawdown chart below to compare losses from any high point for LBAY and HTUS.
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Drawdown Indicators
| LBAY | HTUS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.99% | -47.50% | +31.51% |
Max Drawdown (1Y)Largest decline over 1 year | -13.61% | -8.68% | -4.93% |
Max Drawdown (3Y)Largest decline over 3 years | -14.57% | -24.41% | +9.84% |
Max Drawdown (5Y)Largest decline over 5 years | -15.99% | -24.41% | +8.42% |
Max Drawdown (10Y)Largest decline over 10 years | — | -47.50% | — |
Current DrawdownCurrent decline from peak | -13.61% | -1.49% | -12.12% |
Average DrawdownAverage peak-to-trough decline | -6.83% | -4.05% | -2.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.27% | 1.74% | +3.53% |
Volatility
LBAY vs. HTUS - Volatility Comparison
Leatherback Long/Short Alternative Yield ETF (LBAY) and Hull Tactical US ETF (HTUS) have volatilities of 4.08% and 3.89%, 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
| LBAY | HTUS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.08% | 3.89% | +0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 12.54% | 9.95% | +2.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.64% | 12.00% | +3.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.56% | 19.09% | -5.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.76% | 21.49% | -7.73% |
LBAY vs. HTUS - Expense Ratio Comparison
LBAY has a 1.09% expense ratio, which is higher than HTUS's 0.97% expense ratio.
Dividends
LBAY vs. HTUS - Dividend Comparison
LBAY's dividend yield for the trailing twelve months is around 3.93%, less than HTUS's 10.78% 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
LBAY and HTUS 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, LBAY dropped -15.99% vs HTUS's -47.50%.
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: Toroso Investments and Exchange Traded Concepts. Their fees differ too: 1.09% for LBAY and 0.97% for HTUS.
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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