IVV vs LBAY
iShares Core S&P 500 ETF vs Leatherback Long/Short Alternative Yield ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | IVV | LBAY | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 1.20% | |
| AUM | $907.0B | $18M | |
| Dividend Yield | 1.10% | 3.74% | |
| Holdings | 508 | 62 | |
| YTD Return | +14.29% | +12.25% | |
| 1Y Return | +21.79% | +10.62% | |
| 3Y Return (annualized) | +22.19% | +3.58% | |
| 5Y Return (annualized) | +13.28% | +5.55% | |
| Volatility (annualized) | 15.1% | 15.1% | |
| Max Drawdown | -56.5% | -16.0% | |
| Fund Family | iShares by BlackRock (US) | Leatherback Asset Management | |
| Category | Equity | Alternative | |
| Inception | May 15, 2000 | Nov 16, 2020 |
IVV vs LBAY Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Leatherback Long/Short Alternative Yield ETF (LBAY) is a ETF from Leatherback Asset Management. Over the past year IVV returned +21.79% while LBAY returned +10.62%. Year to date, IVV is up 14.29% versus a gain of 12.25% for LBAY.
Over three years, IVV compounded at +22.19% per year against +3.58% for LBAY; over five years the annualized figures are +13.28% and +5.55% respectively. Across the full 6-year window we track, LBAY has the edge at +8.49% annualized vs +7.06%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 15.1% for LBAY. 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 -56.5% for IVV and -16.0% for LBAY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.30. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while LBAY charges 1.20%. On a $10,000 position that is $3 vs $120 annually, a gap of $117 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 3.74% for LBAY.
Holdings Overlap
IVV and LBAY share 30 holdings out of 533 unique holdings combined, representing a 5.9% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or LBAY?
IVV has an expense ratio of 0.03% while LBAY charges 1.20%. IVV is the cheaper option. On a $10,000 investment, that is $117 per year of difference.
Which performed better, IVV or LBAY?
Over the past year IVV returned +21.79% vs +10.62% for LBAY, so IVV leads on 1-year performance. Over the longest common window we track (6 years), IVV annualized +7.06% vs +8.49% for LBAY. Past performance does not guarantee future results.
Which is riskier, IVV or LBAY?
IVV has been the more volatile fund at 15.1% annualized versus 15.1% for LBAY. Worst drawdown: IVV -56.5% vs LBAY -16.0%.
Should I hold both IVV and LBAY?
IVV and LBAY have a monthly-return correlation of 0.30, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and LBAY?
IVV and LBAY share 30 common holdings with a 5.9% weight overlap. Combined, they hold 533 unique securities.
Which pays a higher dividend, IVV or LBAY?
IVV yields 1.10% while LBAY yields 3.74%, so LBAY currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.