FFLS vs LBAY
The Future Fund Long/Short ETF vs Leatherback Long/Short Alternative Yield ETF
Which is better, FFLS or LBAY?
Each has led over a different period.
LBAY has a lower expense ratio. FFLS led over 3Y and the full window, LBAY over 1Y.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | FFLS | LBAY |
|---|---|---|
| Expense Ratio | 1.60% | 1.20%Best |
| AUM | $45M | $17M |
| Dividend Yield | 6.54% | 4.03% |
| Holdings | 60 | 62 |
| YTD Return | -0.38% | +10.39%Best |
| 1Y Return | +0.73% | +7.00%Best |
| 3Y Return (annualized) | +9.46%Best | +4.13% |
| 5Y Return (annualized) | - | +5.13% |
| Volatility (annualized) | 9.2%Best | 15.1% |
| Max Drawdown | -11.1%Best | -14.8% |
| $10,000 over 3.3 years | $12,887Best | $11,199 |
| Fund Family | The Future Fund | Leatherback Asset Management |
| Category | Alternative | Alternative |
| Style | Long-Short Strategy | Long-Short Strategy |
| Inception | Jun 20, 2022 | Nov 16, 2020 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 3.3 years row, are measured over the window both funds cover: Jun 21, 2023 to Oct 14, 2026 (3.3 years).
FFLS vs LBAY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 3.3 years both funds cover.
FFLS vs LBAY Performance
The Future Fund Long/Short ETF (FFLS) is an ETF from The Future Fund and Leatherback Long/Short Alternative Yield ETF (LBAY) is an ETF from Leatherback Asset Management. Over the past year FFLS returned +0.73% while LBAY returned +7.00%. Year to date, FFLS is down 0.38% versus a gain of 10.39% for LBAY.
Over three years, FFLS compounded at +9.46% per year against +4.13% for LBAY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
LBAY has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 9.2% for FFLS. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -11.1% for FFLS and -14.8% for LBAY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at -0.14. They move largely independently of each other.
Fees and Cost Over Time
FFLS charges 1.60% per year while LBAY charges 1.20%. On a $10,000 position that is $160 vs $120 annually, a gap of $40 per year that compounds over a long holding period. On income, FFLS currently yields 6.54% against 4.03% for LBAY.
Holdings Overlap
We hold position weights for 48 holdings in FFLS and 57 in LBAY, totalling 70.0% and 143.2% of the two funds. Neither is a share of a fund we can divide by, so no overlap percentage is shown here. Within what we can see, 4 positions appear in both.
4 positions in common, counted across the 48 positions we hold weights for in FFLS and 57 in LBAY, against full books of 60 and 62.
You are not choosing between two funds in isolation.
Whichever of FFLS and LBAY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FFLS or LBAY?
FFLS has an expense ratio of 1.60% while LBAY charges 1.20%. LBAY is the cheaper option, by $40 a year on a $10,000 investment.
Which performed better, FFLS or LBAY?
Over the past year FFLS returned +0.73% vs +7.00% for LBAY, so LBAY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FFLS or LBAY?
LBAY has been the more volatile fund at 15.1% annualized versus 9.2% for FFLS. Worst drawdown: FFLS -11.1% vs LBAY -14.8%.
Should I hold both FFLS and LBAY?
FFLS and LBAY have a monthly-return correlation of -0.14, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, FFLS or LBAY?
FFLS yields 6.54% while LBAY yields 4.03%, so FFLS currently pays the higher dividend yield.
Is LBAY better than FFLS?
LBAY has a lower expense ratio. FFLS led over 3Y and the full window, LBAY over 1Y. Which one suits a particular account depends on what it is for. This is information, not a recommendation.