LBAY vs VTI
Leatherback Long/Short Alternative Yield ETF vs Vanguard Morningstar Total Stock Market ETF
Which is better, LBAY or VTI?
Long-Short Strategy against Large Cap Blend.
VTI has a lower expense ratio. VTI 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 | VTI |
|---|---|---|
| Expense Ratio | 1.20% | 0.03%Best |
| AUM | $19M | $666.9B |
| Dividend Yield | 3.74% | 1.07% |
| Holdings | 62 | 3,543 |
| YTD Return | +16.66%Best | +13.59% |
| 1Y Return | +12.44% | +20.00%Best |
| 3Y Return (annualized) | +5.63% | +20.95%Best |
| 5Y Return (annualized) | +6.68% | +11.81%Best |
| Volatility (annualized) | 15.1%Best | 15.2% |
| Max Drawdown | -16.0%Best | -25.4% |
| $10,000 over 5 years | $13,817 | $17,474Best |
| Fund Family | Leatherback Asset Management | Vanguard (US) |
| Category | Alternative | Equity |
| Style | Long-Short Strategy | Large Cap Blend |
| Inception | Nov 16, 2020 | May 24, 2001 |
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).
LBAY vs VTI 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 VTI Performance
Leatherback Long/Short Alternative Yield ETF (LBAY) is an ETF from Leatherback Asset Management and Vanguard Morningstar Total Stock Market ETF (VTI) is an ETF from Vanguard (US). Over the past year LBAY returned +12.44% while VTI returned +20.00%. Year to date, LBAY is up 16.66% versus a gain of 13.59% for VTI.
Over three years, LBAY compounded at +5.63% per year against +20.95% for VTI; over five years the annualized figures are +6.68% and +11.81% respectively. Across the full 6-year window we track, VTI has the edge at +14.70% annualized vs +9.12%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VTI has been the more volatile fund, with annualized monthly volatility of 15.2% 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 -25.4% for VTI. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.30. They move together some of the time, and apart the rest.
Fees and Cost Over Time
LBAY charges 1.20% per year while VTI charges 0.03%. On a $10,000 position that is $120 vs $3 annually, a gap of $117 per year that compounds over a long holding period. On income, LBAY currently yields 3.74% against 1.07% for VTI.
Holdings Overlap
We hold position weights for 58 holdings in LBAY and 2,787 in VTI, totalling 134.1% and 92.3% 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, 44 positions appear in both.
The two holdings books were reported 52 days apart, LBAY as of Aug 21, 2026 and VTI as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
44 positions in common, counted across the 58 positions we hold weights for in LBAY and 2,787 in VTI, against full books of 62 and 3,543.
Top Shared Holdings
| Stock | Weight in LBAY | Weight in VTI | Difference |
|---|---|---|---|
| VVisa Inc Class A | 4.54% | 0.77% | 3.77% |
| XOMExxon Mobil Corp. | 4.23% | 0.78% | 3.45% |
| BRK.BBerkshire Hathaway Inc Brk/B Us Equity | 3.49% | 1.24% | 2.25% |
| NVDANvidia Corp. | -1.63% | 6.32% | 7.95% |
| WTRGEssential Utilities Inc - Common | 4.64% | 0.01% | 4.63% |
| NEMNewmont Corp Common | 4.44% | 0.14% | 4.30% |
| CMCSAComcast Corp-class A Cmcsa | 4.45% | 0.12% | 4.33% |
| ORIOld Republic International Corp | 4.47% | 0.01% | 4.46% |
| KDPKeurig Dr Pepper, Inc. | 4.24% | 0.06% | 4.18% |
| LWLambwestonholdings Inc. | 4.09% | 0.00% | 4.09% |
You are not choosing between two funds in isolation.
Whichever of LBAY and VTI 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 VTI?
LBAY has an expense ratio of 1.20% while VTI charges 0.03%. VTI is the cheaper option, by $117 a year on a $10,000 investment.
Which performed better, LBAY or VTI?
Over the past year LBAY returned +12.44% vs +20.00% for VTI, so VTI leads on 1-year performance. Over the longest common window we track (6 years), LBAY annualized +9.12% vs +14.70% for VTI. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, LBAY or VTI?
VTI has been the more volatile fund at 15.2% annualized versus 15.1% for LBAY. Worst drawdown: LBAY -16.0% vs VTI -25.4%.
Should I hold both LBAY and VTI?
LBAY and VTI have a monthly-return correlation of 0.30, 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, LBAY or VTI?
LBAY yields 3.74% while VTI yields 1.07%, so LBAY currently pays the higher dividend yield.
Is VTI better than LBAY?
VTI has a lower expense ratio. VTI 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.