The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained by calling (833) 417-0090. The gross expense ratio for the fund is 1.32%.
View LBAY standardized performance here.
The Fund’s NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding. The market price is the most recent price at which the Fund was traded.
WE ARE CELEBRATING THREE YEARS SINCE LAUNCHING OUR FIRST ETF
Leatherback Asset Management’s first ETF, the Leatherback Long/Short Alternative Yield ETF (LBAY), recently marked its third anniversary since launch.
LBAY, which launched in November 2020 in partnership with Tidal Financial Group, is managed by Leatherback founder and 20-year veteran of the mutual fund and alternative asset management industry Michael Winter, CFA. LBAY is designed to be an actively managed alternative yield strategy that provides a cost-effective, liquid, and potentially tax efficient means for investors to add a high-quality long/short allocation with targeted monthly distributions to their respective portfolios.
In addition to celebrating the Fund recently passing the three-year mark, Leatherback is pleased to announce that the LBAY distribution was increased from 7.5 cents to 7.6 cents for the month of November, with the next targeted distribution set to take place in December 2023.
Over the life of the Fund through November 30, 2023, LBAY has delivered a cumulative total return in excess of 40% and has paid 36 consecutive months of distributions to shareholders.
LBAY holds long positions in equity securities and other publicly traded instruments that appear well-positioned to deliver attractive yields to shareholders, while simultaneously seeking to identify idiosyncratic opportunities where a security’s price may be poised to decline and will build short positions as determined by the Fund’s management.
LBAY has been awarded a 4-Star Morningstar Rating for Funds in the Long-Short Equity category, which includes 171 funds for the 3-year period as of December 4, 2023.
“We are proud to mark the three-year milestone of the Leatherback Long/Short Alternative Yield ETF,” said Mr. Winter. “The past three years have enabled us to confirm that an active long/short strategy can be effectively implemented in the ETF wrapper within the tax-efficient structure. With a cumulative total return of over 40% since inception, our track record proves that our capable team alongside our partners at Tidal can deliver on our mission of providing a non-correlated long/short alternative for investors.”
FINAL THOUGHTS
We hope our investor partners enjoy our monthly perspectives. We are finding many compelling ideas both long and short and we look forward to continuing our dialogue in the weeks and months ahead.