Leatherback Long/Short Alternative Yield ETF
$28.22−0.32 (−1.12%)
- 1.20%
- $19M
- +24.2%
- 3.54%
- 1.85K sh
- low $23.54high $29.15
The ETF.net LBAY Grade
C
Score 44 out of 100
- 21 of 30
Score 44 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.C45 out of 100Rank 17 of 30Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C42 out of 100Rank 20 of 30Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C45 out of 100Rank 19 of 30Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C48 out of 100Rank 9 of 17Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C45 out of 100Rank 26 of 30
Our read on LBAY
In short
CA hedge-fund playbook in ETF clothing: long the companies returning cash through dividends, buybacks and debt paydowns, short the single names it thinks are broken, net long throughout, 1.20% a year, paid monthly.
Stated mandate
The Fund seeks capital appreciation and income through an actively managed long/short equity strategy.
Why people hold it
Worth knowing
LBAY Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.
LBAY$12,418
Returns run to the Nov 9, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | LBAY |
|---|---|
| Year to date | +21.5% |
| 1 month | +12.3% |
| 3 months | +8.8% |
| 1 year | +24.2% |
| 3 years | +8.7% |
| 5 years | +7.3% |
| 10 years |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | LBAY |
|---|---|---|
| 2026 YTD | +21.5% | |
| 2025 | +4.1% | |
| 2024 | −3.5% | |
| 2023 | −8.5% | |
| 2022 | +22.4% | |
| 2021 | +22.3% | |
| 2020 | +4.6% |
LBAY in the news
LBAY Dividends
- 3.54%
- $1.01
- $0.09 per share
- Monthly
LBAY Risk
- 16.5%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.22
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −16.0%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.06
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FMP measures it over up to five years of monthly returns.
LBAY Cost
Overpaying vs HBDC, cheapest in Alternative Strategies
$13,953
On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.
LBAY 1.20%
$21,851
HBDC 0.39% Cheapest
$7,898
Cost over time
Year by year
| Year | LBAY | HBDC | Overpaying |
|---|---|---|---|
| 10 | $2,098 | $705 | $1,393 |
| 20 | $7,814 | $2,725 | $5,089 |
| 30 | $21,851 | $7,898 | $13,953 |
Other funds in Alternative Strategies
- CBPROBitwise Proficio Currency Debasement ETFExpense ratio 0.96%1 year return
- CHFGMUnlimited HFGM Global Macro ETFExpense ratio 1.01%1 year return +1.4%
- DCBLSClough Hedged Equity ETFExpense ratio 1.89%1 year return +2.7%
- DLSEQHarbor Long-Short Equity ETF (LSEQ)Expense ratio 2.28%1 year return +21.2%
- DQISSimplify Multi-QIS Alternative ETFExpense ratio 1.13%1 year return −49.5%
