LBAY vs VYM
Leatherback Long/Short Alternative Yield ETF vs Vanguard High Dividend Yield ETF
Which is better, LBAY or VYM?
Long-Short Strategy against Large Cap Value.
VYM has a lower expense ratio. VYM 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 | VYM |
|---|---|---|
| Expense Ratio | 1.20% | 0.04%Best |
| AUM | $19M | $81.6B |
| Dividend Yield | 3.74% | 2.24% |
| Holdings | 62 | 613 |
| YTD Return | +16.66%Best | +14.82% |
| 1Y Return | +12.44% | +20.84%Best |
| 3Y Return (annualized) | +5.63% | +18.64%Best |
| 5Y Return (annualized) | +6.68% | +12.28%Best |
| Volatility (annualized) | 15.1% | 13.2%Best |
| Max Drawdown | -16.0% | -15.8%Best |
| $10,000 over 5 years | $13,817 | $17,845Best |
| Fund Family | Leatherback Asset Management | Vanguard (US) |
| Category | Alternative | Equity |
| Style | Long-Short Strategy | Large Cap Value |
| Inception | Nov 16, 2020 | Nov 10, 2006 |
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 VYM 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 VYM Performance
Leatherback Long/Short Alternative Yield ETF (LBAY) is an ETF from Leatherback Asset Management and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year LBAY returned +12.44% while VYM returned +20.84%. Year to date, LBAY is up 16.66% versus a gain of 14.82% for VYM.
Over three years, LBAY compounded at +5.63% per year against +18.64% for VYM; over five years the annualized figures are +6.68% and +12.28% respectively. Across the full 6-year window we track, VYM has the edge at +14.26% 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 13.2% for VYM. 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 -15.8% for VYM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.71. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
LBAY charges 1.20% per year while VYM charges 0.04%. On a $10,000 position that is $120 vs $4 annually, a gap of $116 per year that compounds over a long holding period. On income, LBAY currently yields 3.74% against 2.24% for VYM.
Holdings Overlap
At least 6.8% of VYM'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.
VYM and LBAY share little of their money.
The two holdings books were reported 52 days apart, LBAY as of Aug 21, 2026 and VYM as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
21 positions in common, counted across the 58 positions we hold weights for in LBAY and 603 in VYM, against full books of 62 and 613.
Top Shared Holdings
| Stock | Weight in LBAY | Weight in VYM | Difference |
|---|---|---|---|
| XOMExxon Mobil Corp. | 4.23% | 2.36% | 1.87% |
| NEMNewmont Corp Common | 4.44% | 0.41% | 4.03% |
| CMCSAComcast Corp-class A Cmcsa | 4.45% | 0.36% | 4.09% |
| WTRGEssential Utilities Inc - Common | 4.64% | 0.05% | 4.59% |
| ORIOld Republic International Corp | 4.47% | 0.04% | 4.43% |
| MTNVail Resorts Inc. | 4.44% | 0.02% | 4.42% |
| KDPKeurig Dr Pepper, Inc. | 4.24% | 0.18% | 4.06% |
| MOAltria Group Inc | 3.83% | 0.50% | 3.33% |
| BDXBecton Dickinson And Co. | 3.99% | 0.18% | 3.81% |
| LWLambwestonholdings Inc. | 4.09% | 0.02% | 4.07% |
You are not choosing between two funds in isolation.
Whichever of LBAY and VYM 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 VYM?
LBAY has an expense ratio of 1.20% while VYM charges 0.04%. VYM is the cheaper option, by $116 a year on a $10,000 investment.
Which performed better, LBAY or VYM?
Over the past year LBAY returned +12.44% vs +20.84% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (6 years), LBAY annualized +9.12% vs +14.26% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, LBAY or VYM?
LBAY has been the more volatile fund at 15.1% annualized versus 13.2% for VYM. Worst drawdown: LBAY -16.0% vs VYM -15.8%.
Should I hold both LBAY and VYM?
LBAY and VYM have a monthly-return correlation of 0.71, 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 VYM?
At least 6.8% of VYM's money is in holdings LBAY also owns. Our book for LBAY is partial, so the real figure is this or higher. They hold 21 positions in common, counted across the 58 positions we hold weights for in LBAY and 603 in VYM.
Which pays a higher dividend, LBAY or VYM?
LBAY yields 3.74% while VYM yields 2.24%, so LBAY currently pays the higher dividend yield.
Is VYM better than LBAY?
VYM has a lower expense ratio. VYM 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.