LBAY ETF — Leatherback Long/Short Alternative Yield ETF

Leatherback Long/Short Alternative Yield ETF (LBAY)

Updated October 16, 2026.

LBAY is an ETF. its distribution rate is 3.77%, its trailing-12-month yield is 3.70%, its expense ratio is 1.20%. Dividend Vision Distribution Safety Score™ is 93/100 (Safe). Total return is 65.1% over the past 5.9 years, 64.4 points behind SPY at 129.5%.

Leatherback Long/Short Alternative Yield ETF is a non-diversified fund that invests at least 80% of its assets in income-producing securities that serve as alternatives to traditional bonds, such as dividend-paying equities and other interest-generating investments. The fund distributes income monthly and carries an expense ratio of 1.20%, with a current distribution rate in the low-single-digit range. It may appeal to income-focused investors seeking yield from equity-based and alternative income sources rather than conventional fixed-income instruments.

LBAY performance versus SPY

Price and return data through 2026-10-16.

Total return is 65.1% over the past 5.9 years, 64.4 points behind SPY at 129.5%. Over the past year its total return — price change plus distributions reinvested — is 12.7%. Its deepest 1-year drawdown was 13.6%.

LBAY key facts

Distribution Safety Score™

93 · Safe

Safety-Adjusted Yield

3.51%

Issuer

Leatherback

Asset type

ETF

Asset class

Equity

Inception date

11/16/2020

Expense ratio

1.20%

Distribution rate

3.77%

Distribution frequency

Monthly

Trailing yield

3.70%

Last close

$27.06 (as of 2026-10-16)

AUM

$16,573,889

Average volume

1958.0

Dividend

$0.085

Ex-dividend date

09/29/2026

Payment date

09/30/2026

Beta

0.05

How Dividend Vision calculates yield and returns

Distribution rate (3.77%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (3.70%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Leatherback; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

LBAY risks and drawbacks

LBAY's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 13.6%.

Who may consider LBAY — and who may not

LBAY may suit someone looking for a high Distribution Safety Score, moderate current income with a quality tilt. It is a weaker fit for investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on LBAY

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Frequently asked questions

More securities from Leatherback.