Leatherback Long/Short Alternative Yield ETF (LBAY)

Overview

The fund operates as an actively-managed Exchange-Traded Fund (ETF) aimed at achieving its investment objective through strategic acquisition of securities. It is designed for investors seeking sustainable shareholder yield, which is a combination of dividends, buybacks, and debt paydowns. The fund takes a unique approach by not only purchasing long positions in securities that are believed to have the potential for price appreciation and sustainable returns but also taking short positions in securities expected to decline in price. This dual strategy is meant to optimize the fund's performance in varying market conditions.

Products and Services

• Equity Securities or Depositary Receipts

  The fund primarily invests in a range of equity securities or depositary receipts. These investments are chosen based on their potential to contribute to the fund's goal of providing sustainable shareholder yield. Equity securities may include stocks from diverse sectors and industries believed to have growth potential or to offer stable dividends.

• Investment-Grade Corporate Bonds

  Part of the fund’s strategy includes investing in investment-grade corporate bonds. This provides a balance in the portfolio, adding stability and income through interest payments. These bonds are selected from issuers with lower risks of default, aiming to preserve capital while still contributing to the overall yield.

• Convertible Bonds

  Convertible bonds are another instrument used by the fund. These bonds offer the possibility of converting into a predetermined number of equity shares, typically at the discretion of the bondholder. This option combines the regular income and safety of bonds with the potential for capital appreciation through conversion into stock, aligning with the fund’s dual strategy of achieving sustainable yield while managing investment risks.