Leatherback Lengthy/Quick Various Yield ETF (LBAY) Surpasses $100 Million in Property Beneath Administration
PALM BEACH GARDENS, Fla., Jan. 25, 2023 (GLOBE NEWSWIRE) — Leatherback Asset Management (Leatherback) is proud to announce that its first change traded fund (ETF), the Leatherback Long/Short Alternative Yield ETF (LBAY) has surpassed $100 million in property beneath administration as of January 18, 2023.
LBAY was launched in partnership with Tidal Monetary Group in November 2020. The fund is managed by Michael Winter, CFA, who based Leatherback with trade veteran William Suzor, CFA.
“This milestone validates that the ETF wrapper can lend itself to actively managed lengthy/quick methods. Leatherback is grateful to our trade companions and fund traders for supporting us since inception,” stated Mr. Winter. “That is an thrilling step for Leatherback, and we look ahead to persevering with to ship on our mission to supply revenue era and capital appreciation with much less correlation to fairness markets in a cheap ETF.”
LBAY is designed to be an actively managed various yield technique that gives a cheap, liquid, and probably tax environment friendly means for traders so as to add a high-quality lengthy/quick allocation with focused month-to-month distributions to their respective portfolios.
LBAY holds lengthy positions in fairness securities and different publicly traded devices that seem well-positioned to ship engaging yields to shareholders, whereas concurrently searching for to determine idiosyncratic alternatives the place a safety’s worth could also be poised to say no and can construct quick positions as decided by the Fund’s administration.
Along with lately crossing the $100MM AUM milestone, LBAY outperformed the S&P 500 Index in 2022, delivering over a 22% cumulative complete return as of December 31, 2022.
Eric Falkeis, Co-Founder and CGO of Tidal Monetary Group stated, “We at Tidal are so proud to be the platform supporting Leatherback and LBAY. The continued progress of the fund is thrilling to observe, and we hope to observe LBAY thrive for a few years to return.”
To be taught extra in regards to the Leatherback Lengthy/Quick Various Yield ETF, go to our web site https://www.leatherbackam.com/etfs/lbay/
The efficiency knowledge quoted represents previous efficiency. Previous efficiency doesn’t assure future outcomes. The funding return and principal worth of an funding will fluctuate in order that an investor’s shares, when offered or redeemed, could also be price kind of than their unique price and present efficiency could also be decrease or greater than the efficiency quoted. Efficiency present to the latest month-end could be obtained by calling (833) 417-0090. The gross expense ratio for the fund is 1.32%.
View LBAY standardized efficiency here.
About Leatherback Asset Administration
Leatherback is filling the void within the energetic, various ETFs house. With lengthy/quick investing as a core competency and a progressive mindset, Leatherback is seeking to disrupt the ETF trade by offering high-quality, actively managed options in a cheap, liquid, tax environment friendly construction. The depth and breadth of the Leatherback Asset Administration course of is illustrated by the migration patterns of leatherback sea turtles, who swim over 10,000 miles per yr and dive deeper than any recognized turtle. For extra info, please go to leatherbackam.com.
About Tidal Monetary Group
Fashioned by ETF trade pioneers and thought leaders, Tidal units out to disrupt the best way ETFs have traditionally been developed, launched, marketed and offered. With a clear, partnership method, Tidal gives a complete suite of providers, proprietary instruments, and methodologies designed to carry lasting concepts to market. As advocates for ETF innovation, Tidal helps RIAs, establishments and funding corporations launch, handle and develop modern ETFs that shoppers demand. For extra info, go to tidalfinancialgroup.com.
The S&P 500 Index consists of 500 main firms and covers roughly 80% of the out there market capitalization. Indexes are unmanaged and it isn’t doable to spend money on an index.
Earlier than investing it is best to rigorously take into account the Fund’s funding aims, dangers, costs and bills. This and different info is within the prospectus. A prospectus could also be obtained by clicking here. Please learn the prospectus rigorously earlier than you make investments.
“Lengthy” and “quick” are funding phrases used to explain possession of securities. To purchase securities is to “go lengthy.” The other of going lengthy is “promoting quick.” Quick promoting is a sophisticated buying and selling technique that entails promoting a borrowed safety. Quick sellers make a revenue if the worth of the safety goes down and they can purchase the safety at a decrease quantity than the worth at which they offered the safety quick.
For the reason that Funds are actively managed they don’t search to copy the efficiency of a specified index. The Funds due to this fact could have greater portfolio turnover and buying and selling prices than index-based funds.
Investing entails threat, together with the lack of principal. As with all ETFs, Fund shares could also be purchased and offered within the secondary market at market costs. The market worth usually ought to approximate the Fund’s web asset worth per share (NAV), however the market worth typically could also be greater or decrease than the NAV. The Fund is new with a restricted working historical past. There are a restricted variety of monetary establishments approved to purchase and promote shares straight with the Fund; and there could also be a restricted variety of different liquidity suppliers within the market. There is no such thing as a assurance that Fund shares will commerce at any quantity, or in any respect, on any inventory change. Low buying and selling exercise could end in shares buying and selling at a cloth low cost to NAV.
The Fund makes use of quick gross sales and derivatives (choices), each of which can contain substantial threat. The loss on a brief sale is in precept limitless since there isn’t any upward restrict on the worth of a shorted asset. The potential loss from a by-product could also be larger than the quantity invested as a consequence of counter-party default; illiquidity; or different elements. The Fund could maintain illiquid property which can trigger a loss if the Fund is unable to promote an asset at a helpful time or worth.
By means of its investments in actual property funding trusts (REITs), the Fund is topic to the dangers of investing in the actual property market, together with decreases in property revenues, will increase in rates of interest, will increase in property taxes and working bills, authorized and regulatory modifications, an absence of credit score or capital, defaults by debtors or tenants, environmental issues and pure disasters.
The Fund’s publicity to grasp restricted partnerships (MLPs) could topic the Fund to larger volatility than investments in conventional securities. The worth of MLPs and MLP primarily based change traded funds and notes could also be affected by modifications in total market actions, commodity index volatility, modifications in rates of interest, or sectors affecting a specific trade or commodity, resembling drought, floods, climate, livestock illness, embargoes, tariffs, and worldwide financial, political and regulatory developments.
Enterprise growth firms (BDCs) usually spend money on debt securities that aren’t rated by a credit standing company and are thought-about under funding grade high quality (“junk bonds”). Little public info usually exists for the kind of firms by which a BDC could make investments and, due to this fact, there’s a threat that the Fund could not be capable to make a completely knowledgeable analysis of the BDC and its portfolio of investments.
The Fund is assessed as “non-diversified” and should make investments a comparatively excessive share of its property in a restricted variety of issuers. In consequence, the fund could also be extra vulnerable to a single antagonistic financial or regulatory incidence affecting a number of of those issuers, expertise elevated volatility and be extremely concentrated in sure issuers.
Foreside Fund Companies, LLC, Distributor
Leatherback, Tidal and Foreside should not affiliated.
CONTACT: Contact - Michael J. Winter (561) 389-5809 [email protected]
