The Leatherback Long/Short Alternative Yield ETF (LBAY) (the “Fund”) NAV declined by 4.07% in November, compared to a decline of 0.69% for the S&P 500 Index. LBAY paid our twelfth consecutive monthly distribution, with an increase from $0.06 to $0.065 per share this month to celebrate the first anniversary of the Fund! This is a 3.57% SEC yield versus the S&P 500 Index dividend yield of approximately 1.32%, and the 10-Year US Treasury yield of approximately 1.45%. Year to date as of November 30, 2021, NAV for the fund has returned 11.08%, compared to 23.18% for the S&P 500 Index. Cumulative since inception (November 16, 2020) performance to date, NAV for the Fund has produced a 15.93% total return.
That’s not in the model. It’s uh, so uh, you know we live and learn." – Jerome Powell, November 29, 2021