Actively managed long/short ETF has been steadily building its profile with investors and advisors; has generated strong returns amidst a challenging market environment
Leatherback Asset Management is today announcing that its first ETF, the Leatherback Long/Short Alternative Yield ETF (LBAY), has surpassed $50 million in assets under management.
LBAY, which launched in November 2020 in partnership with Tidal ETF Services, is managed by Leatherback founder and 20-year veteran of the mutual fund and alternative asset management industry Michael Winter, CFA. Winter designed LBAY 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 allocation with targeted monthly distributions to their respective portfolios.
“Crossing the $50 million mark is an exciting milestone for our firm as it directly speaks to the ways in which investors are becoming more interested in gaining exposure to dynamic, active long/short strategies with all the benefits that the ETF wrapper provides,” said Mr. Winter.
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.
The Fund’s investment process, guided by Winter’s experience focused on building effective long/short strategies, has enabled LBAY to outperform the S&P 500 Index year-to-date, delivering a 19.54% net asset value cumulative total return as of May 31, 2022. Positive contributions have come from both the long and short sides of the portfolio. LBAY has been in positive territory every month of 2022, during one of the most significant market selloffs in recent memory.
Additionally, over the life of the Fund, LBAY has delivered a cumulative total return in excess of 50% and has paid 18 consecutive months of distributions to shareholders.
“We’ve been very pleased with the response LBAY has garnered so far and are excited to continue to the tell the fund’s story, which is very timely given all that is going on amidst rising rates and a volatile equity market,” added Winter.
Additional information can be found at leatherbackam.com/etfs.
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 1.43%.
View LBAY standardized performance here.
About Leatherback Asset Management
Leatherback is filling the void in the active, alternative ETFs space. With long/short investing as a core competency and a progressive mindset, Leatherback is looking to disrupt the ETF industry by providing high-quality, actively managed alternatives in a cost-effective, liquid, tax efficient structure. The depth and breadth of the Leatherback Asset Management process is illustrated by the migration patterns of leatherback sea turtles, who swim over 10,000 miles per year and dive deeper than any known turtle. For more information, please visit leatherbackam.com.
About Tidal ETF Services
Formed by ETF industry pioneers and thought leaders, Tidal sets out to disrupt the way ETFs have historically been developed, launched, marketed and sold. With a transparent, partnership approach, Tidal offers a comprehensive suite of services, proprietary tools, and methodologies designed to bring lasting ideas to market. As advocates for ETF innovation, Tidal helps institutions and organizations launch the most interesting and viable ETFs available today. For more information, visit tidaletfservices.com.
Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus. A prospectus may be obtained by clicking here. Please read the prospectus carefully before you invest.
Investing involves risk, including the loss of principal. As with all ETFs, Fund shares may be bought and sold in the secondary market at market prices. The market price normally should approximate the Fund’s net asset value per share (NAV), but the market price sometimes may be higher or lower than the NAV. The Fund is new with a limited operating history. There are a limited number of financial institutions authorized to buy and sell shares directly with the Fund; and there may be a limited number of other liquidity providers in the marketplace. The Fund uses short sales and derivatives (options), both of which may involve substantial risk. Through its investments in real estate investment trusts (REITs), the Fund is subject to the risks of investing in the real estate market. The Fund’s exposure to master limited partnerships (MLPs) may subject the Fund to greater volatility than investments in traditional securities. The Fund is classified as “non-diversified” and may invest a relatively high percentage of its assets in a limited number of issuers.
Foreside Fund Services, LLC, Distributor
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