LBAY vs. SFYX

Last updated Jun 5, 2026

LBAY (Leatherback Long/Short Alternative Yield ETF) and SFYX (SoFi Next 500 ETF) are both exchange-traded funds - LBAY is a Long-Short fund actively managed by Toroso Investments, while SFYX is a Mid Cap Growth Equities fund tracking the Solactive SoFi US Next 500 Growth Index. LBAY is actively managed, while SFYX is passively managed. At a 0.38 correlation, their price movements are largely independent. LBAY charges 1.09%/yr vs 0.00%/yr for SFYX.

Performance

LBAY vs. SFYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leatherback Long/Short Alternative Yield ETF (LBAY) and SoFi Next 500 ETF (SFYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

LBAY

• 1D: 0.43%
• 1M: -0.47%
• YTD: 6.83%
• 6M: 9.25%
• 1Y: 9.13%
• 3Y*: 3.68%
• 5Y*: 3.91%
• 10Y*: —

SFYX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

LBAY vs. SFYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
LBAY Leatherback Long/Short Alternative Yield ETF	6.83%	4.08%	-3.49%	-8.54%	22.41%	22.27%	4.58%
SFYX SoFi Next 500 ETF	5.66%	14.25%	14.45%	17.70%	-22.88%	18.89%	8.59%

Correlation

The correlation between LBAY and SFYX is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (All Time) Calculated using the full available price history since Nov 18, 2020	0.38

Over the past year, the correlation between LBAY and SFYX has dropped to 0.12 - well below their long-term average of 0.38, suggesting their price drivers have been diverging.

LBAY vs. SFYX - Sectors Allocation Comparison

Sectors	LBAY	SFYX
Basic Materials	20.8%	3.2%
Consumer Defensive	16.3%	3.0%
Financial Services	15.3%	15.9%
Industrials	12.5%	20.5%
Energy	11.4%	4.5%
Utilities	11.2%	2.2%
Healthcare	5.5%	12.1%
Consumer Cyclical	4.3%	9.9%
Technology	2.8%	16.9%
Real Estate	2.8%	6.4%
Communication Services	-	4.5%

Return for Risk

LBAY vs. SFYX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

LBAY

LBAY Risk / Return Rank: 19
LBAY Sharpe Ratio Rank: 19
LBAY Sortino Ratio Rank: 20
LBAY Omega Ratio Rank: 19
LBAY Calmar Ratio Rank: 19
LBAY Martin Ratio Rank: 18

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

LBAY vs. SFYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leatherback Long/Short Alternative Yield ETF (LBAY) and SoFi Next 500 ETF (SFYX). 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.

	LBAY	SFYX	Difference
Sharpe ratio: Return per unit of total volatility	0.60	—	—
Sortino ratio: Return per unit of downside risk	1.00	—	—
Omega ratio: Gain probability vs. loss probability	1.12	—	—
Calmar ratio: Return relative to maximum drawdown	0.77	—	—
Martin ratio: Return relative to average drawdown	1.94	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	LBAY	SFYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.60	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.29	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	—	—

Drawdowns

Drawdown Indicators

	LBAY	SFYX	Difference
Max Drawdown Largest peak-to-trough decline	-15.99%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-11.91%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-14.57%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.99%	—	—
Current Drawdown Current decline from peak	-10.34%	—	—
Average Drawdown Average peak-to-trough decline	-6.80%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	4.71%	—	—

Volatility

Volatility by Period

	LBAY	SFYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.80%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.82%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.26%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.59%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.73%	—	—

LBAY vs. SFYX - Expense Ratio Comparison

LBAY has a 1.09% expense ratio, which is higher than SFYX's 0.00% expense ratio.

Dividends

LBAY vs. SFYX - Dividend Comparison

LBAY's dividend yield for the trailing twelve months is around 3.79%, more than SFYX's 1.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
LBAY Leatherback Long/Short Alternative Yield ETF	3.79%	3.80%	3.77%	3.47%	2.74%	2.96%	0.29%	0.00%
SFYX SoFi Next 500 ETF	1.36%	1.44%	1.25%	1.51%	1.56%	0.90%	1.16%	1.02%

Frequently Asked Questions

Can I hold both LBAY and SFYX in my portfolio?

LBAY and SFYX have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LBAY or SFYX?

On fees, SFYX is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LBAY or SFYX?

SFYX is cheaper with a 0.00% expense ratio, compared with 1.09% for LBAY.

Which ETF pays a higher dividend yield, LBAY or SFYX?

LBAY has the higher dividend yield at 3.79%, compared with 1.36% for SFYX.

What is the main difference between LBAY and SFYX?

LBAY is categorized as Long-Short, while SFYX is Mid Cap Growth Equities. Their fees differ too: 1.09% for LBAY and 0.00% for SFYX.