LBAY vs. SCHD
LBAY (Leatherback Long/Short Alternative Yield ETF) and SCHD (Schwab U.S. Dividend Equity ETF) are both exchange-traded funds - LBAY is a Long-Short fund actively managed by Toroso Investments, while SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index. LBAY is actively managed, while SCHD is passively managed. Over the past 5 years, LBAY returned 4.68%/yr vs 8.71%/yr for SCHD. A 0.69 correlation means they provide meaningful diversification when combined. LBAY charges 1.09%/yr vs 0.06%/yr for SCHD.
Performance
LBAY vs. SCHD - 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 SCHD's 17.72% return.
LBAY
- 1D
- 0.94%
- 1M
- -3.88%
- YTD
- 3.90%
- 6M
- 4.36%
- 1Y
- 4.26%
- 3Y*
- 2.12%
- 5Y*
- 4.68%
- 10Y*
- —
SCHD
- 1D
- 0.41%
- 1M
- -2.47%
- YTD
- 17.72%
- 6M
- 17.25%
- 1Y
- 24.56%
- 3Y*
- 14.60%
- 5Y*
- 8.71%
- 10Y*
- 12.72%
LBAY vs. SCHD - 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% | 5.03% |
SCHD Schwab U.S. Dividend Equity ETF | 17.72% | 4.34% | 11.66% | 4.54% | -3.26% | 29.87% | 2.95% |
Correlation
The correlation between LBAY and SCHD is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Nov 17, 2020 | 0.69 |
The correlation between LBAY and SCHD shifts across timeframes, from 0.52 (1 year) to 0.69 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
LBAY vs. SCHD — Risk / Return Rank
LBAY
SCHD
LBAY vs. SCHD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leatherback Long/Short Alternative Yield ETF (LBAY) and Schwab U.S. Dividend Equity ETF (SCHD). 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 | SCHD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.95 | ||
| Sortino ratioReturn per unit of downside risk | -2.88 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.40 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | 0.31 | 5.35 | -5.03 |
| Martin ratioReturn relative to average drawdown | 0.80 | 12.94 | -12.13 |
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Drawdowns
LBAY vs. SCHD - Drawdown Comparison
The maximum LBAY drawdown since its inception was -15.99%, smaller than the maximum SCHD drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for LBAY and SCHD.
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Drawdown Indicators
| LBAY | SCHD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.99% | -33.37% | +17.38% |
Max Drawdown (1Y)Largest decline over 1 year | -13.61% | -4.61% | -9.00% |
Max Drawdown (3Y)Largest decline over 3 years | -14.57% | -16.13% | +1.56% |
Max Drawdown (5Y)Largest decline over 5 years | -15.99% | -16.85% | +0.86% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.37% | — |
Current DrawdownCurrent decline from peak | -12.80% | -2.47% | -10.33% |
Average DrawdownAverage peak-to-trough decline | -6.84% | -3.31% | -3.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.33% | 1.90% | +3.43% |
Volatility
LBAY vs. SCHD - Volatility Comparison
Leatherback Long/Short Alternative Yield ETF (LBAY) has a higher volatility of 4.22% compared to Schwab U.S. Dividend Equity ETF (SCHD) at 3.58%. This indicates that LBAY's price experiences larger fluctuations and is considered to be riskier than SCHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LBAY | SCHD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.22% | 3.58% | +0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 12.52% | 7.73% | +4.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.63% | 11.07% | +4.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.56% | 14.36% | -0.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.76% | 16.71% | -2.95% |
LBAY vs. SCHD - Expense Ratio Comparison
LBAY has a 1.09% expense ratio, which is higher than SCHD's 0.06% expense ratio.
Dividends
LBAY vs. SCHD - Dividend Comparison
LBAY's dividend yield for the trailing twelve months is around 3.89%, more than SCHD's 3.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LBAY Leatherback Long/Short Alternative Yield ETF | 3.89% | 3.80% | 3.77% | 3.47% | 2.74% | 2.96% | 0.29% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SCHD Schwab U.S. Dividend Equity ETF | 3.30% | 3.82% | 3.64% | 3.49% | 3.39% | 2.78% | 3.16% | 2.98% | 3.06% | 2.63% | 2.89% | 2.97% |
Frequently Asked Questions
LBAY and SCHD have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LBAY has higher volatility (4.22%) compared to SCHD (3.58%). In terms of maximum drawdown, LBAY dropped -15.99% vs SCHD's -33.37%.
On 5-year performance, SCHD leads with 8.71% vs 4.68% for LBAY. On fees, SCHD is cheaper at 0.06% per year. On volatility, SCHD has been the lower-risk option at 3.58%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SCHD has performed better with a 8.71% return vs 4.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHD is cheaper with a 0.06% expense ratio, compared with 1.09% for LBAY.
LBAY has the higher dividend yield at 3.89%, compared with 3.30% for SCHD.
LBAY is categorized as Long-Short, while SCHD is Dividend. They also come from different issuers: Toroso Investments and Charles Schwab. Their fees differ too: 1.09% for LBAY and 0.06% for SCHD.
SCHD currently has the higher Sharpe Ratio (2.23 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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