SPEDX vs. LBAY
Compare and contrast key facts about Alger Dynamic Opportunities Fund (SPEDX) and Leatherback Long/Short Alternative Yield ETF (LBAY).
SPEDX is managed by Alger. It was launched on Nov 1, 2009. LBAY is an actively managed fund by Toroso Investments. It was launched on Nov 16, 2020.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SPEDX or LBAY.
Correlation
The correlation between SPEDX and LBAY is 0.17, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
SPEDX vs. LBAY - Performance Comparison
Key characteristics
SPEDX:
1.08
LBAY:
-0.01
SPEDX:
1.53
LBAY:
0.06
SPEDX:
1.20
LBAY:
1.01
SPEDX:
0.67
LBAY:
-0.01
SPEDX:
7.10
LBAY:
-0.02
SPEDX:
2.02%
LBAY:
6.02%
SPEDX:
13.34%
LBAY:
10.95%
SPEDX:
-32.93%
LBAY:
-15.99%
SPEDX:
-8.50%
LBAY:
-11.12%
Returns By Period
In the year-to-date period, SPEDX achieves a -1.58% return, which is significantly lower than LBAY's 3.02% return.
SPEDX
-1.58%
-6.55%
5.87%
12.72%
6.50%
5.27%
LBAY
3.02%
3.44%
-7.39%
-0.80%
N/A
N/A
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SPEDX vs. LBAY - Expense Ratio Comparison
SPEDX has a 0.91% expense ratio, which is lower than LBAY's 1.09% expense ratio.
Risk-Adjusted Performance
SPEDX vs. LBAY — Risk-Adjusted Performance Rank
SPEDX
LBAY
SPEDX vs. LBAY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Alger Dynamic Opportunities Fund (SPEDX) 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.
Dividends
SPEDX vs. LBAY - Dividend Comparison
SPEDX has not paid dividends to shareholders, while LBAY's dividend yield for the trailing twelve months is around 3.67%.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
SPEDX Alger Dynamic Opportunities Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.80% |
LBAY Leatherback Long/Short Alternative Yield ETF | 3.67% | 3.77% | 3.47% | 2.74% | 2.96% | 0.29% | 0.00% |
Drawdowns
SPEDX vs. LBAY - Drawdown Comparison
The maximum SPEDX drawdown since its inception was -32.93%, which is greater than LBAY's maximum drawdown of -15.99%. Use the drawdown chart below to compare losses from any high point for SPEDX and LBAY. For additional features, visit the drawdowns tool.
Volatility
SPEDX vs. LBAY - Volatility Comparison
Alger Dynamic Opportunities Fund (SPEDX) has a higher volatility of 5.16% compared to Leatherback Long/Short Alternative Yield ETF (LBAY) at 4.34%. This indicates that SPEDX's price experiences larger fluctuations and is considered to be riskier than LBAY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.