The Leatherback Long/Short Alternative Yield ETF (LBAY) (the “Fund”) net asset value (NAV) declined by 0.64% in August, compared to a decline of 4.08% for the S&P 500 Index. LBAY paid our twenty-first consecutive monthly distribution, at $0.07028 per share in August. This is a 2.53% SEC yield versus the S&P 500 Index dividend yield of approximately 1.65%, and the 10-Year US Treasury yield of 3.195%. Year to date as of August 31, 2022, NAV for the Fund has returned 12.58%, compared to a decline of 16.14% for the S&P 500 Index. NAV performance for the Fund to date since inception (November 16, 2020) has produced a 43.80% cumulative total return and a 22.51% annualized total return.
The skyrocketing electricity prices are now exposing the limitations of our current electricity market design,…” - Ursula von der Leyen, European Commission President
*Definitions: Beta is the percent change in the price of the security given a 1% change in the market index.
1 The S&P 500 Index includes 500 leading companies and covers approximately 80% of the available market capitalization. The S&P 500 Dividend Yield is the estimated sum of all dividends paid by the index’s stocks in the last 12 months, divided by the index market capitalization as reported by the S&P. The dividend yield does not represent or predict the performance of the Fund. Indexes are unmanaged and it is not possible to invest in an index.
2 The 30-day SEC yield is calculated from the 30 days ending on the last day of the previous month. This figure approximates the yield an investor would receive in a year, assuming that each bond in the portfolio is held until maturity. View the 30 day SEC yield here.
3Source: https://www.cnbc.com/, Aug 29, 2022
4Ursula von der Leyen quote Source: https://www.wsj.com/, Aug 29, 2022
Opinions expressed are subject to change at any time, are not guaranteed, and should not be considered investment advice.