LBAY vs. BOUT ETF Comparison

Comparison of Leatherback Long/Short Alternative Yield ETF (LBAY) to Innovator IBD Breakout Opportunities ETF (BOUT)

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

$27.71

Average Daily Volume

2,579

Number of Holdings ^*

* may have additional holdings in another (foreign) market

BOUT

Innovator IBD Breakout Opportunities ETF

BOUT Description

The investment seeks to track, before fees and expenses, the performance of the IBD® Breakout Stocks Index (the "index"). The fund will normally invest at least 80% of its net assets (including investment borrowings) in the equity securities that comprise the index. The index seeks to provide opportunistic investment exposure to those stocks with the potential to "break out," or experience a period of sustained price growth beyond the stock's recent "resistance level," with consideration for various market conditions. The fund is non-diversified. BOUT uses technical analysis to find stocks that are likely to breakout. The funds index relies on an algorithm that establishes a base price (a recent high) for each eligible security. The index then follows the trend for each stock. Selected stocks are ranked by a combination of relative strength and fundamental factors, and then weighted in fixed tiers according to this ranking. In addition, BOUT will move 50% of its portfolio into T-bills based on market signals: a rapid increase in either margin debt or overall stock prices, combined with slowing reversing momentum in the S&P 500. The T-bill position will remain in place until the S&P 500 falls by 50% or show indications of rising momentum. BOUT is rebalanced and reconstituted weekly after the close on Friday. The frequent rebalance schedule means the fund will be highly responsive to the technical factors that drive its strategy, but could also experience high turnover.

Grade (RS Rating)

Last Trade

$36.31

Average Daily Volume

1,208

Number of Holdings ^*

126

* may have additional holdings in another (foreign) market

Performance

Period	LBAY	BOUT
30 Days	-0.48%	-0.91%
60 Days	2.36%	5.16%
90 Days	8.09%	3.69%
12 Months	10.15%	22.01%

4 Overlapping Holdings

Symbol	Grade	Weight in LBAY	Weight in BOUT	Overlap
BKNG	C	2.72%	0.68%	0.68%
MMM	B	4.7%	1.97%	1.97%
NEM	C	4.99%	2.29%	2.29%
SPGI	C	2.84%	2.36%	2.36%

LBAY Overweight 52 Positions Relative to BOUT

Symbol	Grade	Weight
BG	D	4.81%
XOM	B	4.78%
ORI	A	4.75%
FIS	C	4.61%
LW	D	4.4%
AGNC	C	4.24%
MO	B	4.12%
CMCSA	B	4.07%
ZBH	F	4.05%
MDT	A	4.03%
ICE	A	4.02%
VTRS	D	4.01%
AWK	C	3.61%
ABBV	A	3.58%
RIO	A	3.52%
UNP	C	3.43%
EBAY	A	3.32%
V	C	3.26%
PKG	A	3.25%
APD	C	3.2%
LHX	A	3.08%
MTN	D	3.08%
T	A	3.03%
CARR	C	2.97%
PCH	C	2.91%
MSCI	B	2.79%
DE	A	2.7%
KDP	C	2.62%
KO	B	2.56%
SOLV	D	2.09%
EVR	C	-1.19%
SITE	D	-1.25%
BURL	D	-1.25%
DKS	D	-1.27%
FIX	B	-1.28%
SHOP	C	-1.3%
EQIX	B	-1.31%
DLR	C	-1.33%
TXRH	B	-1.41%
AVGO	C	-1.49%
CMG	C	-1.52%
DUOL	B	-1.59%
SQ	D	-1.63%
VRT	B	-1.7%
KKR	C	-1.71%
OLLI	C	-1.78%
SF	A	-1.79%
CVNA	A	-1.8%
PLNT	C	-1.9%
RCL	C	-2.0%
TSLA	B	-2.08%
DASH	B	-2.13%

LBAY Underweight 122 Positions Relative to BOUT

Symbol	Grade	Weight
FFTY	C	-8.0%
MELI	C	-2.45%
KLAC	D	-2.39%
VIK	B	-2.36%
PACS	C	-2.36%
QRVO	F	-2.35%
AHR	C	-2.34%
NXPI	F	-2.33%
NVS	D	-2.33%
IDCC	A	-2.33%
CHKP	C	-2.33%
PGR	C	-2.32%
MWA	B	-2.28%
SWI	C	-2.24%
MS	B	-2.06%
GS	D	-2.05%
MPWR	C	-2.03%
OLED	C	-2.02%
AXP	A	-2.01%
AX	D	-2.01%
PPC	A	-1.99%
ISRG	C	-1.99%
FANG	F	-1.99%
MOD	C	-1.98%
KNTK	C	-1.97%
ADBE	F	-1.97%
PSN	A	-1.95%
IOT	C	-1.91%
ALNY	B	-1.35%
RSG	D	-1.34%
ROST	C	-1.34%
NMIH	C	-1.34%
AEM	C	-1.33%
GOOGL	C	-1.32%
WFRD	F	-1.31%
HLNE	A	-1.31%
EHC	B	-1.31%
ATGE	C	-1.31%
PANW	D	-1.3%
NVO	F	-1.3%
MANH	C	-1.3%
AAON	B	-1.28%
NOW	C	-1.23%
NBIX	F	-0.69%
ANF	D	-0.69%
PSTG	F	-0.68%
HALO	D	-0.68%
PLTR	C	-0.67%
INTU	F	-0.67%
DSGX	C	-0.67%
VNOM	B	-0.66%
NFLX	C	-0.66%
MPLX	A	-0.66%
GMED	D	-0.66%
CYBR	C	-0.66%
AROC	C	-0.66%
VRNS	C	-0.63%
MMYT	D	-0.33%
AMSC	D	-0.33%
ELF	F	-0.32%
CLS	C	-0.32%
SRPT	F	-0.31%
PINS	D	-0.31%
IBKR	A	-0.31%
HESM	D	-0.31%
GRMN	D	-0.31%
FN	C	-0.31%
CRWD	D	-0.31%
ARM	C	-0.31%
ARIS	C	-0.31%
ALKT	D	-0.31%
DDOG	D	-0.3%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%