LBAY vs. NZAC ETF Comparison

Comparison of Leatherback Long/Short Alternative Yield ETF (LBAY) to SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC)

LBAY

Leatherback Long/Short Alternative Yield ETF

LBAY Description

The investment seeks capital appreciation and income. The fund is an actively-managed ETF that seeks to achieve its investment objective by purchasing long positions in securities believed to provide sustainable shareholder yield (defined as dividends plus buybacks plus debt paydowns) and taking short positions in securities expected to decline in price. It will generally have net exposure of 75% - 110% long. The fund's long positions are generally expected to be comprised of equity securities or depositary receipts, although long positions may also include investment-grade corporate bonds and convertible bonds. It is non-diversified.

Grade (RS Rating)

Last Trade

$26.45

Average Daily Volume

2,577

Number of Holdings ^*

* may have additional holdings in another (foreign) market

NZAC

SPDR MSCI ACWI Climate Paris Aligned ETF

NZAC Description

The fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index is designed to exceed the minimum standards for a "Paris-Aligned Benchmark" under the EU BMR. A Paris-Aligned Benchmark is designed to align with a principal objective of the Paris Agreement to limit the increase in the global average temperature to well below 2 degrees Celsius above pre-industrial levels.

Grade (RS Rating)

Last Trade

$37.11

Average Daily Volume

6,919

Number of Holdings ^*

370

* may have additional holdings in another (foreign) market

Performance

Period	LBAY	NZAC
30 Days	-3.99%	-0.46%
60 Days	-3.40%	0.77%
90 Days	-2.87%	2.06%
12 Months	5.05%	25.27%

24 Overlapping Holdings

Symbol	Grade	Weight in LBAY	Weight in NZAC	Overlap
AAPL	C	-1.53%	4.47%	-1.53%
AVGO	D	-1.54%	1.1%	-1.54%
BKNG	A	3.37%	0.24%	0.24%
BURL	B	-1.26%	0.03%	-1.26%
CMCSA	B	4.57%	0.25%	0.25%
DE	B	2.68%	0.14%	0.14%
DLR	B	-1.51%	0.39%	-1.51%
EBAY	D	3.58%	0.14%	0.14%
EQIX	A	-1.38%	0.33%	-1.38%
FIS	C	4.54%	0.07%	0.07%
ICE	C	4.08%	0.13%	0.13%
LLY	F	-1.48%	0.94%	-1.48%
MDT	D	3.86%	0.23%	0.23%
MMM	D	3.53%	0.02%	0.02%
NEM	D	4.59%	0.08%	0.08%
SPGI	C	2.92%	0.38%	0.38%
SQ	A	-1.56%	0.01%	-1.56%
SQ	A	-1.56%	0.02%	-1.56%
T	A	3.64%	0.18%	0.18%
TSLA	B	-1.45%	1.32%	-1.45%
UNP	C	3.77%	0.21%	0.21%
V	A	3.89%	0.75%	0.75%
VRT	B	-1.63%	0.02%	-1.63%
ZBH	C	4.41%	0.05%	0.05%

LBAY Overweight 29 Positions Relative to NZAC

Symbol	Grade	Weight
LW	C	4.96%
XOM	B	4.78%
ORI	A	4.77%
MO	A	4.64%
BG	D	4.57%
VTRS	A	4.48%
AGNC	C	4.41%
CVS	D	4.36%
BERY	C	4.14%
MTN	C	3.91%
LHX	C	3.59%
AWK	C	3.45%
RIO	D	3.28%
MSCI	C	3.15%
APD	A	3.11%
PCH	F	2.79%
SHAK	C	-1.21%
DKS	D	-1.21%
SITE	F	-1.27%
RBLX	C	-1.29%
EVR	B	-1.46%
SF	B	-1.48%
DKNG	B	-1.49%
CVNA	B	-1.53%
DAL	B	-1.53%
TOL	B	-1.54%
PLNT	A	-1.54%
OLLI	D	-1.69%
DUOL	A	-1.85%

LBAY Underweight 346 Positions Relative to NZAC

Symbol	Grade	Weight
NVDA	B	-4.67%
MSFT	D	-4.03%
AMZN	C	-2.38%
META	D	-1.62%
GOOG	C	-1.45%
JPM	A	-1.09%
GOOGL	C	-1.03%
EIX	B	-0.81%
UNH	B	-0.77%
MA	B	-0.65%
JNJ	C	-0.62%
IBM	C	-0.6%
ABBV	F	-0.6%
ORCL	A	-0.59%
HD	B	-0.58%
SHW	B	-0.56%
NFLX	A	-0.49%
MRK	D	-0.47%
ADI	D	-0.46%
BAC	A	-0.44%
CRM	B	-0.42%
NVS	F	-0.41%
CSCO	B	-0.4%
ACN	B	-0.39%
NOW	A	-0.39%
BRK.A	B	-0.39%
ACM	B	-0.36%
MCD	D	-0.36%
XYL	D	-0.36%
AXP	A	-0.36%
TJX	A	-0.36%
WMT	A	-0.35%
ADBE	C	-0.35%
ABBV	F	-0.34%
ITW	B	-0.33%
TMO	F	-0.32%
BSX	A	-0.31%
ISRG	A	-0.31%
INTU	B	-0.31%
DIS	B	-0.29%
AFL	B	-0.28%
ETN	A	-0.28%
TXN	C	-0.27%
MSI	B	-0.27%
AMD	F	-0.27%
BLK	B	-0.27%
MS	A	-0.26%
QCOM	F	-0.26%
SYK	B	-0.25%
LOW	C	-0.25%
WFC	A	-0.25%
PH	A	-0.25%
CB	C	-0.24%
PWR	A	-0.24%
BABA	D	-0.24%
BMY	B	-0.24%
PNR	A	-0.23%
PGR	A	-0.22%
MCO	B	-0.22%
VZ	C	-0.21%
AMGN	F	-0.21%
GWW	B	-0.21%
PLD	F	-0.21%
MET	A	-0.21%
MMC	B	-0.2%
ADP	A	-0.2%
SCHW	B	-0.19%
TD	D	-0.19%
PFE	F	-0.19%
PNC	B	-0.19%
DHR	F	-0.19%
GLW	B	-0.19%
BX	A	-0.19%
ABT	B	-0.19%
FI	A	-0.18%
CBRE	B	-0.18%
INTC	C	-0.18%
FFIV	B	-0.18%
ORLY	B	-0.18%
UBER	F	-0.17%
FAST	B	-0.17%
SONY	B	-0.17%
ELV	F	-0.17%
APO	B	-0.17%
HPE	B	-0.16%
AMP	A	-0.16%
FSLR	F	-0.16%
ZTS	D	-0.16%
AME	A	-0.16%
KLAC	F	-0.15%
PRU	A	-0.15%
WELL	A	-0.15%
SBUX	A	-0.15%
SPG	A	-0.15%
TRV	B	-0.15%
HDB	C	-0.14%
COF	C	-0.14%
ALL	A	-0.14%
VRTX	D	-0.14%
PANW	B	-0.14%
AIG	B	-0.14%
MELI	C	-0.14%
TDG	D	-0.13%
BK	A	-0.13%
KKR	A	-0.13%
PYPL	B	-0.13%
TMUS	B	-0.13%
CDW	F	-0.13%
JNPR	D	-0.13%
AMAT	F	-0.12%
SHOP	B	-0.12%
AVB	B	-0.12%
ACGL	C	-0.12%
HIG	B	-0.12%
MRVL	B	-0.12%
USB	A	-0.12%
CME	B	-0.12%
PPG	F	-0.11%
AMT	C	-0.11%
AON	A	-0.11%
EW	C	-0.11%
BDX	F	-0.11%
LI	F	-0.11%
PSA	C	-0.11%
APH	A	-0.11%
INFY	C	-0.11%
NKE	F	-0.11%
AZO	C	-0.1%
MTB	A	-0.1%
ESS	B	-0.1%
WM	B	-0.1%
CHD	A	-0.1%
LRCX	F	-0.1%
REGN	F	-0.1%
EQH	C	-0.1%
IQV	F	-0.1%
DEO	F	-0.1%
TDY	B	-0.1%
FTNT	C	-0.09%
AIZ	A	-0.09%
SYF	B	-0.09%
MU	D	-0.09%
ADSK	A	-0.09%
ROST	D	-0.09%
DFS	B	-0.09%
ALLE	C	-0.09%
CSX	C	-0.09%
FTV	C	-0.09%
SCCO	F	-0.08%
PDD	F	-0.08%
KDP	F	-0.08%
GRMN	B	-0.08%
CTSH	B	-0.08%
REG	A	-0.08%
PAYX	B	-0.08%
LULU	C	-0.08%
MUFG	B	-0.08%
GIS	D	-0.08%
WAB	B	-0.08%
RS	B	-0.08%
ROK	C	-0.08%
BR	A	-0.08%
O	C	-0.07%
CINF	A	-0.07%
BXP	C	-0.07%
RVTY	F	-0.07%
UPS	C	-0.07%
TRMB	B	-0.07%
PLTR	B	-0.07%
CCI	C	-0.07%
RF	A	-0.07%
HSBH	B	-0.07%
CMG	B	-0.07%
WRB	A	-0.07%
EQR	C	-0.07%
AJG	A	-0.07%
MKL	A	-0.07%
AFG	A	-0.07%
WIT	B	-0.07%
WTW	B	-0.07%
RMD	C	-0.07%
CHTR	C	-0.07%
LIN	C	-0.07%
YUM	D	-0.07%
A	D	-0.06%
VTR	B	-0.06%
NTAP	C	-0.06%
DHI	F	-0.06%
IRM	C	-0.06%
MTD	F	-0.06%
TCOM	B	-0.06%
ECL	D	-0.06%
GS	A	-0.06%
PCAR	B	-0.06%
LEN	D	-0.06%
ANET	C	-0.06%
GILD	C	-0.06%
AXON	A	-0.06%
IDXX	F	-0.06%
KEYS	A	-0.06%
HUM	C	-0.06%
CPAY	A	-0.05%
LYV	A	-0.05%
VRSK	A	-0.05%
NTRS	A	-0.05%
ABNB	C	-0.05%
HOLX	D	-0.05%
GPN	B	-0.05%
TROW	B	-0.05%
URI	C	-0.05%
TTD	B	-0.05%
HSY	F	-0.05%
ULTA	F	-0.05%
HSIC	C	-0.05%
ENPH	F	-0.05%
BRO	B	-0.05%
COIN	C	-0.04%
ILMN	C	-0.04%
RJF	A	-0.04%
CEG	C	-0.04%
DXCM	C	-0.04%
NSC	B	-0.04%
FOXA	A	-0.04%
UHAL	D	-0.04%
CTAS	B	-0.04%
BCS	A	-0.04%
PHM	D	-0.04%
XPEV	C	-0.04%
CPRT	B	-0.04%
NDAQ	A	-0.04%
EXR	C	-0.04%
IEX	C	-0.04%
BAH	F	-0.03%
ALGN	D	-0.03%
EFX	F	-0.03%
WDAY	B	-0.03%
STE	D	-0.03%
NVR	D	-0.03%
AZN	F	-0.03%
VICI	C	-0.03%
MNST	C	-0.03%
AVTR	F	-0.03%
XRX	F	-0.03%
VLTO	C	-0.03%
CCEP	C	-0.03%
EG	C	-0.03%
SBAC	D	-0.03%
VEEV	C	-0.03%
CARR	C	-0.03%
LKQ	F	-0.03%
ERIE	D	-0.03%
GDDY	A	-0.03%
BIIB	F	-0.03%
OMC	C	-0.03%
IT	C	-0.03%
CBOE	C	-0.03%
FOX	A	-0.03%
EL	F	-0.03%
ALNY	D	-0.03%
BIDU	F	-0.03%
TER	F	-0.03%
STZ	D	-0.03%
Z	A	-0.02%
CG	B	-0.02%
NIO	F	-0.02%
ANSS	B	-0.02%
ALLY	C	-0.02%
VMC	B	-0.02%
BMRN	F	-0.02%
TW	A	-0.02%
RPRX	D	-0.02%
TFX	F	-0.02%
MOH	F	-0.02%
ROL	B	-0.02%
STT	B	-0.02%
CRWD	B	-0.02%
SNA	A	-0.02%
WST	C	-0.02%
TT	A	-0.02%
HBAN	A	-0.02%
WAT	C	-0.02%
MSTR	B	-0.02%
DGX	A	-0.02%
SEIC	B	-0.02%
ZM	C	-0.02%
ZBRA	B	-0.02%
PODD	C	-0.02%
HEI	A	-0.02%
DASH	B	-0.02%
BCH	C	-0.02%
ASAI	F	-0.02%
CTLT	C	-0.02%
BAX	F	-0.02%
MAR	A	-0.02%
SNOW	B	-0.02%
ODFL	C	-0.02%
DLTR	F	-0.02%
HLT	A	-0.02%
ROP	B	-0.02%
LH	B	-0.02%
POOL	C	-0.02%
CSGP	D	-0.02%
TGT	F	-0.02%
MBAVU	C	-0.01%
SMCI	F	-0.01%
QGEN	D	-0.01%
EXAS	D	-0.01%
SWKS	F	-0.01%
MTCH	D	-0.01%
BBWI	C	-0.01%
WYNN	C	-0.01%
STLD	B	-0.01%
RIVN	F	-0.01%
SUI	C	-0.01%
NXPI	D	-0.01%
JKHY	D	-0.01%
TECH	F	-0.01%
BIO	C	-0.01%
SNAP	D	-0.01%
ALB	B	-0.01%
C	A	-0.01%
PAYC	B	-0.01%
EPAM	B	-0.01%
KVUE	A	-0.01%
MAS	D	-0.01%
CLX	A	-0.01%
DOC	C	-0.01%
MKC	C	-0.01%
MRNA	F	-0.01%
MKTX	D	-0.01%
FDS	B	-0.01%
TRU	D	-0.01%
EA	A	-0.01%
NBIX	C	-0.01%
IPG	D	-0.01%
PINS	F	-0.01%
KB	B	-0.01%
WPC	C	-0.01%
INCY	C	-0.01%
VRSN	C	-0.01%
QFIN	A	-0.01%
DOCU	B	-0.01%
LYG	D	-0.01%
TEVA	C	-0.01%
NIO	F	-0.0%
WIT	B	-0.0%