IVV vs LBAY
iShares Core S&P 500 ETF vs Leatherback Long/Short Alternative Yield ETF
Which is better, IVV or LBAY?
Large Cap Blend against Long-Short Strategy.
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window.
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 | IVV | LBAY |
|---|---|---|
| Expense Ratio | 0.03%Best | 1.20% |
| AUM | $886.7B | $19M |
| Dividend Yield | 1.10% | 3.74% |
| Holdings | 508 | 62 |
| YTD Return | +13.39% | +16.66%Best |
| 1Y Return | +20.08%Best | +12.44% |
| 3Y Return (annualized) | +21.29%Best | +5.63% |
| 5Y Return (annualized) | +12.88%Best | +6.68% |
| Volatility (annualized) | 15.0%Best | 15.1% |
| Max Drawdown | -24.5% | -16.0%Best |
| $10,000 over 5 years | $18,327Best | $13,817 |
| Fund Family | iShares by BlackRock (US) | Leatherback Asset Management |
| Category | Equity | Alternative |
| Style | Large Cap Blend | Long-Short Strategy |
| Inception | May 15, 2000 | Nov 16, 2020 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Nov 17, 2020 to Sep 4, 2026 (5.8 years).
IVV 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 5.8 years both funds cover.
IVV vs LBAY Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and Leatherback Long/Short Alternative Yield ETF (LBAY) is an ETF from Leatherback Asset Management. Over the past year IVV returned +20.08% while LBAY returned +12.44%. Year to date, IVV is up 13.39% versus a gain of 16.66% for LBAY.
Over three years, IVV compounded at +21.29% per year against +5.63% for LBAY; over five years the annualized figures are +12.88% and +6.68% respectively. Across the full 6-year window we track, IVV has the edge at +15.53% annualized vs +9.12%.
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 15.0% for IVV. 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 -24.5% for IVV and -16.0% 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 0.31. They move together some of the time, and apart the rest.
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
At least 17.6% of IVV's money is in holdings LBAY also owns.
Only one direction is shown: for LBAY, our book for it lists positions totalling 134.1% of the fund, which is what a leveraged book looks like and is not a denominator we can divide by.
IVV and LBAY share little of their money.
29 positions in common, counted across the 505 positions we hold weights for in IVV and 58 in LBAY, against full books of 508 and 62.
Top Shared Holdings
| Stock | Weight in IVV | Weight in LBAY | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 7.98% | -1.63% | 9.61% |
| VVisa Inc Class A | 0.92% | 4.54% | 3.62% |
| XOMExxon Mobil Corp. | 0.94% | 4.23% | 3.29% |
| BRK.BBerkshire Hathaway Inc Brk/B Us Equity | 1.43% | 3.49% | 2.06% |
| NEMNewmont Corp Common | 0.17% | 4.44% | 4.27% |
| CMCSAComcast Corp-class A Cmcsa | 0.13% | 4.45% | 4.32% |
| KDPKeurig Dr Pepper, Inc. | 0.06% | 4.24% | 4.18% |
| BDXBecton Dickinson And Co. | 0.07% | 3.99% | 3.92% |
| MOAltria Group Inc | 0.17% | 3.83% | 3.66% |
| UBERUber Technologies Inc | 0.21% | 3.34% | 3.13% |
You are not choosing between two funds in isolation.
Whichever of IVV 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, IVV or LBAY?
IVV has an expense ratio of 0.03% while LBAY charges 1.20%. IVV is the cheaper option, by $117 a year on a $10,000 investment.
Which performed better, IVV or LBAY?
Over the past year IVV returned +20.08% vs +12.44% for LBAY, so IVV leads on 1-year performance. Over the longest common window we track (6 years), IVV annualized +15.53% vs +9.12% for LBAY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or LBAY?
LBAY has been the more volatile fund at 15.1% annualized versus 15.0% for IVV. Worst drawdown: IVV -24.5% vs LBAY -16.0%.
Should I hold both IVV and LBAY?
IVV and LBAY have a monthly-return correlation of 0.31, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between IVV and LBAY?
At least 17.6% of IVV's money is in holdings LBAY also owns. Our book for LBAY is partial, so the real figure is this or higher. They hold 29 positions in common, counted across the 505 positions we hold weights for in IVV and 58 in LBAY.
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.
Is LBAY better than IVV?
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.