LBAY ETF — Leatherback Long/Short Alternative Yield ETF

Leatherback Long/Short Alternative Yield ETF (LBAY)

LBAY is an ETF. As of August 20, 2026, its distribution rate is 3.66%, its trailing-12-month yield is 3.54%, its expense ratio is 1.20%. Dividend Vision Distribution Safety Score™ is 93/100 (Safe). Fund total return is 67.9% over the past 5.8 years, 62.8 points behind SPY at 130.7%.

At the current 3.66% distribution rate, a $10,000 investment would generate approximately $366 per year, or $30.50 per month on an equivalent basis.

Leatherback Long/Short Alternative Yield ETF is a non-diversified fund that invests at least 80% of its net assets in income-producing securities that serve as alternatives to traditional bonds, such as dividend-paying stocks and other yield-generating instruments, while employing long and short strategies. The fund distributes income monthly at a modest current distribution rate, with an expense ratio of 1.20%. It may appeal to income-focused investors seeking yield from non-traditional fixed-income alternatives.

LBAY performance versus SPY

Data as of August 20, 2026.

Fund total return is 67.9% over the past 5.8 years, 62.8 points behind SPY at 130.7%. Its deepest 1-year drawdown was 13.6%.

LBAY key facts

Data as of August 20, 2026.

Distribution Safety Score™

93 · Safe

Safety-Adjusted Yield

3.40%

Issuer

Leatherback

Asset type

ETF

Asset class

Equity

Inception date

11/16/2020

Expense ratio

1.20%

Distribution rate

3.66%

Distribution frequency

Monthly

Trailing yield

3.54%

Last close

$27.84

AUM

$17,943,704

Average volume

810.0

Last dividend

$0.0850

Ex-dividend date

07/30/2026

Payment date

07/31/2026

Beta

0.04

P/E ratio

18.0433

How Dividend Vision calculates yield and returns

Distribution rate (3.66%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (3.54%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. We show a 30-day SEC yield when the fund publishes one. Schwab and other issuers may report a TTM distribution yield or SEC yield on a different date — all can be valid; they are not interchangeable. Fund total return uses split-adjusted close with distributions reinvested from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is what the fund did, not your personal gain/loss. Figures below use Dividend Vision data as of August 20, 2026.

Distribution rate methodology · Distribution Safety Score methodology · SEC yield

Sources and review

Data as of August 20, 2026.

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.

Frequently asked questions

More funds from Leatherback.