WHITEWOLF Publicly Listed Private Equity ETF (LBO) Performance
LBO total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −13.9% since Dec 31, 2025
- 1 year
- −10.4% total return
- Since first price
- +12.9% since 2023
LBO trailing returns vs SPY, QQQ, AGG
| Period | LBO total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −3.0% | −4.3% | −1.0% | −5.0% | +0.9% |
| 3 months | −0.5% | −1.8% | +3.2% | +1.9% | −0.4% |
| 6 months | −2.7% | −5.3% | +7.8% | +8.4% | −1.5% |
| YTD | −13.9% | −17.3% | +12.3% | +15.1% | −1.0% |
| 1 year | −10.4% | −15.5% | +14.4% | +15.9% | −1.1% |
| Since inceptionNov 30, 2023 | +12.9% | −5.6% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: LBO vs SPY
From Nov 30, 2023: LBO grew to $11,289, SPY to $17,266.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
LBO returns by calendar year
1 of 2 full years positive. Best 2024 (+30.9%), worst 2025 (−6.6%). 2026 is year to date.
LBO annual returns table
| Year | LBO | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −13.9% | −25.1% | +12.3% | +15.1% | −1.0% |
| 2025 | −6.6% | −25.6% | +17.7% | +20.8% | +7.2% |
| 2024 | +30.9% | −10.7% | +24.9% | +25.6% | +1.3% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
LBO largest drawdowns
Now 24.5% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 31, 2025 | −31.6% | Mar 12, 2026 | not yet | 1.1 years | 1.7 years so far |
| Jul 31, 2024 | −10.7% | Aug 5, 2024 | Sep 19, 2024 | 5 days | 50 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
LBO risk statistics
| Statistic | Since 2023 |
|---|---|
| Annualized return | +4.6% |
| Volatility (annualized) | 19.8% |
| Sharpe ratio | 0.11 |
| Sortino ratio | 0.15 |
| Best month | +9.6% |
| Worst month | −14.5% |
| Best 12 months | +44.6% |
| Worst 12 months | −23.6% |
| Positive months | 53% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
LBO rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 24 | −23.6% | −5.7% | +44.6% | 46% |
Every holding period starting at a month-end since 2023. Returns for 3 years and longer are annualized.
LBO performance overview
WHITEWOLF Publicly Listed Private Equity ETF (LBO) returned −10.4% over the past year, with distributions reinvested. Since its first recorded price on Nov 30, 2023 it has returned +12.9%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −31.6%, from Jan 31, 2025 to Mar 12, 2026; the fund has not yet regained that high. Volatility has been 19.8% a year.
Related: LBO chart, LBO holdings, LBO dividends, LBO valuation. See the LBO overview for the latest quote and fund facts.
LBO performance FAQ
What is the LBO return over the past year?
LBO returned −10.4% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 15.5%.
How much would $10,000 invested in LBO be worth?
$10,000 invested in LBO at its first recorded close on November 30, 2023 would be worth about $11,289 on October 23, 2026 with distributions reinvested.
What was the worst year for LBO?
The worst calendar year was 2025, with a total return of −6.6%. The best was 2024 at +30.9%.
What is the biggest drawdown of LBO?
The largest peak-to-trough decline was −31.6% between January 31, 2025 and March 12, 2026. It has not yet recovered to that high; it is 24.5% below its peak.
How volatile is LBO?
Over the past history LBO had an annualized volatility of 19.8% and a Sharpe ratio of 0.11 (excess return over 1–3 month T-bills per unit of risk).