Leatherback Long/Short Alternative Yield ETF
Top 10 Holdings
What is LBAY?
The Leatherback Long/Short Alternative Yield ETF (LBAY) is an actively managed exchange-traded fund that seeks income generation and capital appreciation through shareholder yielding equities and income producing securities. Leatherback establishes long positions in securities it believes will provide sustainable shareholder yield and takes short positions in securities it believes will decline in price. The Fund s long positions are generally expected to be comprised of equity securities or depositary receipts, although long positions may also include investment-grade corporate bonds and convertible bonds. The Fund s equity securities may include common stocks, preferred stocks, other ETFs, closed-end funds, business development companies ( BDCs ), master limited partnerships ( MLPs ), real estate investment trusts ( REITs ), and publicly traded companies that are formed to own operating assets that produce defined cash flows ( YieldCos ). Leatherback uses a quantitative and fundamental approach to identify companies it believes have the capacity to reward shareholders. The bias is towards dividend awards, which seeks to provide downside risk mitigation and are additive to total return.
ETFs related toLBAY
ETFs correlated to LBAY include DHS, DIVZ, FDL
What is ETF correlation?
Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.
Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.
Using ETF correlations in portfolio and strategy construction
ETF correlations can help you create investing strategies and portfolios. Use them to:
- •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
- •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
- •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.
Phalanx Formation: Downturn Defense
Create your own algorithmic trading strategy with LBAY using Composer
We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.
We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.