The Leatherback Long/Short Alternative Yield ETF (LBAY) (the “Fund”) net asset value (NAV) advanced by 5.64 % in November, compared to 5.59% for the S&P 500 Index. LBAY paid our twenty-fourth consecutive monthly distribution, with an increase from $0.065 to $0.075 per share in November to celebrate the second anniversary of the Fund! This is a 2.28% SEC yield versus the S&P 500 Index dividend yield of approximately 1.64%, and the 10-Year US Treasury yield of 3.607%. Year to date as of November 30, 2022, NAV for the Fund has returned 22.68%, compared to a decline of 13.10% for the S&P 500 Index. NAV performance for the Fund to date since inception (November 16, 2020) has produced a 56.70% cumulative total return and a 24.65% annualized total return.
Happy Holidays!” – The Leatherback Team
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.
There is no guarantee that a company will pay or continually increase its dividend.
Morningstar Rankings represent a fund's total-return percentile rank relative to all funds that have the same Morningstar Category. The highest percentile rank is 1 and the lowest is 100. It is based on Morningstar total return, which includes both income and capital gains or losses and is not adjusted for sales charges or redemption fees.
Opinions expressed are subject to change at any time, are not guaranteed, and should not be considered investment advice.