The Leatherback Long/Short Alternative Yield ETF (LBAY) (the “Fund”) NAV advanced by 4.21% in May, compared to 0.70% for the S&P 500 Index. LBAY paid our sixth consecutive monthly distribution of $0.06 per share. This is a 3.13% SEC yield versus the S&P 500 Index dividend yield of approximately 1.37%, and the 10-Year US Treasury yield of approximately 1.59%. Year to date as of May 31, 2021, NAV for the fund has returned 19.90%, compared to 12.62% for the S&P 500 Index. Cumulative since inception (November 16, 2020) performance to date, NAV for the Fund has produced a 25.13% total return.
My judgment right now is the recent inflation we’ve seen will be temporary, it’s not something that’s endemic. I expect it to last, however, for several more months, and to see high annual rates of inflation through the end of this year9.” – U.S. Treasury Secretary Janet Yellen
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.