LBAY vs. JSTC
LBAY (Leatherback Long/Short Alternative Yield ETF) and JSTC (Adasina Social Justice All Cap Global ETF) are both exchange-traded funds - LBAY is a Long-Short fund actively managed by Toroso Investments, while JSTC is a Global Equities fund actively managed by Toroso Investments. Both are actively managed. Over the past 5 years, LBAY returned 4.68%/yr vs 6.37%/yr for JSTC. At a 0.40 correlation, their price movements are largely independent. LBAY charges 1.09%/yr vs 0.89%/yr for JSTC.
Performance
LBAY vs. JSTC - Performance Comparison
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Returns By Period
In the year-to-date period, LBAY achieves a 3.90% return, which is significantly lower than JSTC's 10.39% return.
LBAY
- 1D
- 0.94%
- 1M
- -3.88%
- YTD
- 3.90%
- 6M
- 4.36%
- 1Y
- 4.26%
- 3Y*
- 2.12%
- 5Y*
- 4.68%
- 10Y*
- —
JSTC
- 1D
- -1.66%
- 1M
- 1.31%
- YTD
- 10.39%
- 6M
- 9.87%
- 1Y
- 17.39%
- 3Y*
- 13.94%
- 5Y*
- 6.37%
- 10Y*
- —
LBAY vs. JSTC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
LBAY Leatherback Long/Short Alternative Yield ETF | 3.90% | 4.08% | -3.49% | -8.54% | 22.41% | 22.27% | 0.71% |
JSTC Adasina Social Justice All Cap Global ETF | 10.39% | 12.02% | 8.96% | 15.67% | -17.58% | 19.28% | 2.48% |
Correlation
The correlation between LBAY and JSTC is 0.04, 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 | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2020 | 0.40 |
Over the past year, the correlation between LBAY and JSTC has dropped to 0.04 - well below their long-term average of 0.40, suggesting their price drivers have been diverging.
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Return for Risk
LBAY vs. JSTC — Risk / Return Rank
LBAY
JSTC
LBAY vs. JSTC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leatherback Long/Short Alternative Yield ETF (LBAY) and Adasina Social Justice All Cap Global ETF (JSTC). 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 | JSTC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.98 | ||
| Sortino ratioReturn per unit of downside risk | -1.31 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.22 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.31 | 1.76 | -1.45 |
| Martin ratioReturn relative to average drawdown | 0.80 | 7.11 | -6.31 |
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Drawdowns
LBAY vs. JSTC - Drawdown Comparison
The maximum LBAY drawdown since its inception was -15.99%, smaller than the maximum JSTC drawdown of -26.82%. Use the drawdown chart below to compare losses from any high point for LBAY and JSTC.
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Drawdown Indicators
| LBAY | JSTC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.99% | -26.82% | +10.83% |
Max Drawdown (1Y)Largest decline over 1 year | -13.61% | -9.93% | -3.68% |
Max Drawdown (3Y)Largest decline over 3 years | -14.57% | -16.72% | +2.15% |
Max Drawdown (5Y)Largest decline over 5 years | -15.99% | -26.82% | +10.83% |
Current DrawdownCurrent decline from peak | -12.80% | -1.91% | -10.89% |
Average DrawdownAverage peak-to-trough decline | -6.84% | -6.54% | -0.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.33% | 2.45% | +2.88% |
Volatility
LBAY vs. JSTC - Volatility Comparison
The current volatility for Leatherback Long/Short Alternative Yield ETF (LBAY) is 4.22%, while Adasina Social Justice All Cap Global ETF (JSTC) has a volatility of 5.11%. This indicates that LBAY experiences smaller price fluctuations and is considered to be less risky than JSTC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LBAY | JSTC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.22% | 5.11% | -0.89% |
Volatility (6M)Calculated over the trailing 6-month period | 12.52% | 11.47% | +1.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.63% | 13.93% | +1.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.56% | 16.06% | -2.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.76% | 15.80% | -2.04% |
LBAY vs. JSTC - Expense Ratio Comparison
LBAY has a 1.09% expense ratio, which is higher than JSTC's 0.89% expense ratio.
Dividends
LBAY vs. JSTC - Dividend Comparison
LBAY's dividend yield for the trailing twelve months is around 3.89%, more than JSTC's 1.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
JSTC Adasina Social Justice All Cap Global ETF | 1.22% | 1.34% | 1.11% | 1.03% | 0.83% | 0.96% | 0.00% |
LBAY Leatherback Long/Short Alternative Yield ETF | 3.89% | 3.80% | 3.77% | 3.47% | 2.74% | 2.96% | 0.29% |
Frequently Asked Questions
LBAY and JSTC have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JSTC has higher volatility (5.11%) compared to LBAY (4.22%). In terms of maximum drawdown, LBAY dropped -15.99% vs JSTC's -26.82%.
On 5-year performance, JSTC leads with 6.37% vs 4.68% for LBAY. On fees, JSTC is cheaper at 0.89% per year. On volatility, LBAY has been the lower-risk option at 4.22%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, JSTC has performed better with a 6.37% return vs 4.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JSTC is cheaper with a 0.89% expense ratio, compared with 1.09% for LBAY.
LBAY has the higher dividend yield at 3.89%, compared with 1.22% for JSTC.
LBAY is categorized as Long-Short, while JSTC is Global Equities. Their fees differ too: 1.09% for LBAY and 0.89% for JSTC.
JSTC currently has the higher Sharpe Ratio (1.26 vs 0.27), 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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