Leatherback Long/Short Absolute Return ETF
The Leatherback Long/Short Absolute Return ETF is an actively-managed exchange traded fund that seeks positive returns regardless of prevailing market conditions. Leatherback establishes long positions in securities it believes to be undervalued and establishes short positions in securities it believes will decline in price. Leatherback uses a quantitative and fundamental approach to identify companies for long and short positions. LBAR is generally expected to invest in equity securities, although the fund may invest in other instruments.
LBAR Fact Scheet
*The 30-Day SEC yield is calculated with a standardized formula mandated by the SEC. The formula is based on maximum offering price per share and does not reflect waivers in effect. As of 11/16/20.
30 Day Median Spread is a calculation of Fund’s median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the Fund’s national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values.
Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns. Returns beyond 1 year are annualized.
A fund’s NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding. The market price is the most recent price at which the fund was traded.
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“Long” and “short” are investment terms used to describe ownership of securities. To buy securities is to “go long.” The opposite of going long is “selling short.” Short selling is an advanced trading strategy that involves selling a borrowed security. Short sellers make a profit if the price of the security goes down and they are able to buy the security at a lower amount than the price at which they sold the security short.
Since the Funds are actively managed they do not seek to replicate the performance of a specified index. The Funds therefore may have higher portfolio turnover and trading costs than index-based funds.
Investing involves risk, including the loss of principal. Please visit each Fund's page for specific Fund risks.
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