LBAY vs QQQ
Leatherback Long/Short Alternative Yield ETF vs Invesco QQQ Trust, Series 1
Which is better, LBAY or QQQ?
Long-Short Strategy against Large Cap Growth.
QQQ has a lower expense ratio. QQQ 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 | LBAY | QQQ |
|---|---|---|
| Expense Ratio | 1.20% | 0.18%Best |
| AUM | $18M | $483.5B |
| Dividend Yield | 3.60% | 0.44% |
| Holdings | 62 | 107 |
| YTD Return | +14.78% | +17.11%Best |
| 1Y Return | +11.54% | +23.99%Best |
| 3Y Return (annualized) | +4.59% | +24.62%Best |
| 5Y Return (annualized) | +6.53% | +14.23%Best |
| Volatility (annualized) | 15.1%Best | 19.9% |
| Max Drawdown | -16.0%Best | -35.1% |
| $10,000 over 5 years | $13,720 | $19,449Best |
| Fund Family | Leatherback Asset Management | Invesco (US) |
| Category | Alternative | Equity |
| Style | Long-Short Strategy | Large Cap Growth |
| Inception | Nov 16, 2020 | Mar 10, 1999 |
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 9, 2026 (5.8 years).
LBAY vs QQQ 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.
LBAY vs QQQ Performance
Leatherback Long/Short Alternative Yield ETF (LBAY) is an ETF from Leatherback Asset Management and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year LBAY returned +11.54% while QQQ returned +23.99%. Year to date, LBAY is up 14.78% versus a gain of 17.11% for QQQ.
Over three years, LBAY compounded at +4.59% per year against +24.62% for QQQ; over five years the annualized figures are +6.53% and +14.23% respectively. Across the full 6-year window we track, QQQ has the edge at +17.34% annualized vs +8.79%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 19.9% 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 -16.0% for LBAY and -35.1% for QQQ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at -0.02. They move largely independently of each other.
Fees and Cost Over Time
LBAY charges 1.20% per year while QQQ charges 0.18%. On a $10,000 position that is $120 vs $18 annually, a gap of $102 per year that compounds over a long holding period. On income, LBAY currently yields 3.60% against 0.44% for QQQ.
Holdings Overlap
At least 16.6% of QQQ'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.
QQQ and LBAY share little of their money.
10 positions in common, counted across the 58 positions we hold weights for in LBAY and 102 in QQQ, against full books of 62 and 107.
Top Shared Holdings
| Stock | Weight in LBAY | Weight in QQQ | Difference |
|---|---|---|---|
| NVDANvidia Corp. | -1.63% | 8.44% | 10.07% |
| CMCSAComcast Corp-class A Cmcsa | 4.45% | 0.39% | 4.06% |
| KDPKeurig Dr Pepper, Inc. | 4.24% | 0.18% | 4.06% |
| ADBEAdobe Systems | 2.70% | 0.46% | 2.24% |
| HONAHoneywell Aerospace Inc | 1.93% | 0.28% | 1.65% |
| METAMeta Platform Inc | -1.32% | 2.78% | 4.10% |
| TSLATesla Motors Inc | -1.62% | 2.56% | 4.18% |
| WDCWestern Digital Corp. | -1.64% | 0.79% | 2.43% |
| APPAppLovin Corp. Com Cl A | -1.61% | 0.56% | 2.17% |
| CRWVCoreweave, Inc. | -1.60% | 0.18% | 1.78% |
You are not choosing between two funds in isolation.
Whichever of LBAY and QQQ 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, LBAY or QQQ?
LBAY has an expense ratio of 1.20% while QQQ charges 0.18%. QQQ is the cheaper option, by $102 a year on a $10,000 investment.
Which performed better, LBAY or QQQ?
Over the past year LBAY returned +11.54% vs +23.99% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (6 years), LBAY annualized +8.79% vs +17.34% for QQQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, LBAY or QQQ?
QQQ has been the more volatile fund at 19.9% annualized versus 15.1% for LBAY. Worst drawdown: LBAY -16.0% vs QQQ -35.1%.
Should I hold both LBAY and QQQ?
LBAY and QQQ have a monthly-return correlation of -0.02, 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 LBAY and QQQ?
At least 16.6% of QQQ's money is in holdings LBAY also owns. Our book for LBAY is partial, so the real figure is this or higher. They hold 10 positions in common, counted across the 58 positions we hold weights for in LBAY and 102 in QQQ.
Which pays a higher dividend, LBAY or QQQ?
LBAY yields 3.60% while QQQ yields 0.44%, so LBAY currently pays the higher dividend yield.
Is QQQ better than LBAY?
QQQ has a lower expense ratio. QQQ 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.