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LBAY ETF — Holdings & Analysis

Leatherback Long/Short Alternative Yield ETF (LBAY) is an actively-managed fund with $0.02 billion in assets under management.

LBAY seeks to generate returns through a combination of long positions in companies with sustainable shareholder yield (dividends, buybacks, debt paydowns) and short positions in companies expected to decline in price. With a relatively high expense ratio of 1.27%, LBAY aims for net long exposure between 75% and 110%, differentiating itself through its active management and long/short strategy within the alternatives space. Past performance does not guarantee future results.

Leatherback Long/Short Alternative Yield ETF (LBAY) ETF — Price, Holdings & Analysis

Leatherback Long/Short Alternative Yield ETF (LBAY) is an actively-managed fund with $0.02 billion in assets under management. LBAY seeks to generate returns through a combination of long positions in companies with sustainable shareholder yield (dividends, buybacks, debt paydowns) and short positions in companies expected to decline in price. With a relatively high expense ratio of 1.27%, LBAY aims for net long exposure between 75% and 110%, differentiating itself through its active management and long/short strategy within the alternatives space. Past performance does not guarantee future results.

ETF 개요

The fund is an actively-managed ETF that seeks to achieve its investment objective by purchasing long positions in securities believed to provide sustainable shareholder yield (defined as dividends plus buybacks plus debt paydowns) and taking short positions in securities expected to decline in price. It will generally have net exposure of 75% - 110% long. The fund's long positions are generally expected to be comprised of equity securities or depositary receipts, although long positions may also include investment-grade corporate bonds and convertible bonds. It is non-diversified.
LBAY is an actively-managed ETF employing a long/short strategy within the alternatives asset class. The fund seeks to identify companies with strong shareholder yield, defined as dividends plus buybacks plus debt paydowns, and takes long positions in these securities. Conversely, it identifies companies expected to underperform and takes short positions to capitalize on anticipated price declines. The fund's strategy results in a net long exposure typically ranging from 75% to 110%. LBAY's long positions primarily consist of equity securities and depositary receipts, but may also include investment-grade corporate bonds and convertible bonds. The fund's top holdings include First American Government Obligs X (8.51%), Hecla Mining Co (5.82%), and Newmont Corp (5.30%). Sector allocation is heavily weighted towards Basic Materials (26.7%), Consumer Defensive (13.3%), and Energy (12.9%). This non-diversified approach allows for concentrated bets based on Leatherback's active management decisions. Past performance does not guarantee future results.

위험 지표

LBAY's active management and long/short strategy introduce specific risks. The fund's non-diversified nature, with significant allocation to Basic Materials (26.7%), exposes it to sector-specific risks. A 3-year beta of 0.26 suggests lower volatility compared to the overall market, but the active strategy and short positions can still lead to unpredictable performance. The fund's expense ratio of 1.27% is relatively high, creating a significant expense drag that can impact returns, especially in a low-return environment. The fund's concentration in its top holdings, such as First American Government Obligs X (8.51%) and Hecla Mining Co (5.82%), also introduces concentration risk. Investors should carefully consider these factors before investing. Past performance does not guarantee future results.

운용보수율

1.27%

주요 보유 종목

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  • 기초 소재: 26.7%
  • 필수소비재: 13.3%
  • 에너지: 12.9%
  • 산업재: 11.2%
  • 유틸리티: 11.1%
  • 헬스케어: 8.5%
  • 경기소비재: 7.3%
  • 금융 서비스: 6.3%
  • 부동산: 2.8%
  • 현금 및 기타: 0.0%
  • 미국: 92.2%
  • 캐나다: 2.8%
  • 호주: 2.4%

배당수익률

0.00%

위험 지표

  • 베타: 0.26

질문 및 답변

What is LBAY and what does it track?

Leatherback Long/Short Alternative Yield ETF (LBAY) is an actively managed fund that aims to generate returns by taking both long and short positions in securities. It seeks to identify companies with sustainable shareholder yield (dividends, buybacks, and debt paydowns) for its long positions, while shorting companies expected to decline in price. The fund generally maintains a net long exposure between 75% and 110%. LBAY's top holdings include First American Government Obligs X (8.51%), Hecla Mining Co (5.82%), and Newmont Corp (5.30%). The fund is classified within the alternatives asset class.

What is the expense ratio for LBAY?

LBAY has an expense ratio of 1.27%. This means that for every $10,000 invested in the fund, $127 is deducted annually to cover operating expenses. The expense ratio is relatively high compared to the average expense ratio for alternative ETFs, which is approximately 0.44%. the may be worth researching impact of this higher expense ratio on their overall returns, especially in a low-return environment.

What are the top holdings in LBAY?

LBAY's top holdings reflect its investment strategy of combining long and short positions. As of 2026-03-15, the top holdings include First American Government Obligs X, comprising 8.51% of the portfolio. Other significant long positions include Hecla Mining Co (5.82%), Newmont Corp (5.30%), Alamos Gold Inc Class A (5.27%), and Vail Resorts Inc (4.75%). These holdings indicate a focus on companies within the basic materials and consumer discretionary sectors.

Is LBAY a good long-term investment?

Evaluating LBAY as a long-term investment requires careful consideration of its strategy and associated risks. The fund's active management and long/short approach can potentially generate alpha, but also introduce uncertainty. With an expense ratio of 1.27%, the fund faces a significant hurdle to outperform its benchmark. The fund's 3-year beta of 0.26 suggests lower volatility than the market, but past performance does not guarantee future results. Investors should assess their risk tolerance and investment goals before considering LBAY for long-term allocation.

How does LBAY compare to similar ETFs?

LBAY distinguishes itself through its active long/short strategy within the alternatives ETF category. Many alternative ETFs employ different strategies, such as managed futures or real asset exposure. With an AUM of $0.02 billion, LBAY is relatively small compared to some of the larger alternative ETFs. Its expense ratio of 1.27% is also higher than many passively managed alternative ETFs. Investors should compare LBAY's strategy, performance, and cost to other alternative ETFs to determine the best fit for their portfolio.

Does LBAY pay dividends?

As of 2026-03-15, the Leatherback Long/Short Alternative Yield ETF (LBAY) has a dividend yield of 0.00%. This indicates that the fund is not currently distributing any dividend income to its shareholders. The fund's focus on shareholder yield includes dividends, buybacks, and debt paydowns, but the current portfolio composition does not generate dividend income. Investors seeking dividend income may want to consider other ETFs with a higher dividend yield.