SFYX vs. LBAY

Last updated Jun 4, 2026

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

Performance

SFYX vs. LBAY - Performance Comparison

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

Returns By Period

SFYX

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

LBAY

• 1D: 0.25%
• 1M: -1.27%
• YTD: 6.38%
• 6M: 7.19%
• 1Y: 7.78%
• 3Y*: 3.38%
• 5Y*: 3.82%
• 10Y*: —

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

SFYX vs. LBAY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SFYX SoFi Next 500 ETF	5.66%	14.25%	14.45%	17.70%	-22.88%	18.89%	8.59%
LBAY Leatherback Long/Short Alternative Yield ETF	6.38%	4.08%	-3.49%	-8.54%	22.41%	22.27%	4.58%

Correlation

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

SFYX vs. LBAY - Sectors Allocation Comparison

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

Return for Risk

SFYX vs. LBAY — Risk / Return Rank

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

LBAY

LBAY Risk / Return Rank: 17
LBAY Sharpe Ratio Rank: 17
LBAY Sortino Ratio Rank: 17
LBAY Omega Ratio Rank: 16
LBAY Calmar Ratio Rank: 17
LBAY Martin Ratio Rank: 17

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.

SFYX vs. LBAY - Risk-Adjusted Trends Comparison

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

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	SFYX	LBAY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.51	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.28	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.58	—

Drawdowns

Drawdown Indicators

	SFYX	LBAY	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	—	-10.72%	—
Average Drawdown Average peak-to-trough decline	—	-6.80%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.66%	—

Volatility

Volatility by Period

	SFYX	LBAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.78%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.87%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	15.25%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	13.59%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	13.73%	—

SFYX vs. LBAY - Expense Ratio Comparison

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

Dividends

SFYX vs. LBAY - Dividend Comparison

SFYX's dividend yield for the trailing twelve months is around 1.36%, less than LBAY's 3.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
LBAY Leatherback Long/Short Alternative Yield ETF	3.80%	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 SFYX and LBAY in my portfolio?

SFYX and LBAY 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, SFYX or LBAY?

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, SFYX or LBAY?

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

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

LBAY has the higher dividend yield at 3.80%, compared with 1.36% for SFYX.

What is the main difference between SFYX and LBAY?

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