- ISIN
- US46090A6064
- Issuer
- First Trust
- Inception Date
- Jan 31, 2023
- Region
- North America (U.S.)
- Category
- Global Allocation
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Multi-Asset
- Asset Class Size
- Mid-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $295M
Highlights
- Avg. Volume (1M)
- 93K
- Avg. Volume Value (1M)
- $2.25M
Share Price Chart
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Performance
LALT Performance Chart
First Trust Multi-Strategy Alternative ETF (LALT) is up 8.6% since the beginning of the year. LALT is currently trading at $24 per share.
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Returns By Period
First Trust Multi-Strategy Alternative ETF (LALT) has returned 8.61% so far this year and 16.94% over the past 12 months.
First Trust Multi-Strategy Alternative ETF
- 1D
- 0.12%
- 1M
- 1.00%
- 6M
- 4.22%
- YTD
- 8.61%
- 1Y
- 16.94%
- 3Y*
- 9.26%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 8.28%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
LALT Monthly Returns History
Based on dividend-adjusted daily data since Feb 1, 2023, LALT's average daily return is +0.03%, while the average monthly return is +0.67%. At this rate, an investment would double in approximately 8.7 years.
Historically, 62% of months were positive and 38% were negative. The best month was Jan 2026 with a return of +4.2%, while the worst month was Jun 2026 at -2.7%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 2 months.
On a daily basis, LALT closed higher 54% of trading days. The best single day was Apr 9, 2025 with a return of +2.4%, while the worst single day was Apr 4, 2025 at -2.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 4.21% | 2.28% | 2.15% | 1.94% | -0.07% | -2.65% | 0.58% | 8.61% | |||||
| 2025 | 2.14% | -0.96% | 0.18% | -1.75% | 0.17% | 2.00% | 1.53% | 2.34% | 3.33% | 0.36% | 1.24% | -0.18% | 10.79% |
| 2024 | 1.29% | 1.79% | 2.03% | -1.10% | -0.12% | 1.41% | 0.71% | -0.10% | 0.89% | -0.19% | 1.96% | -0.07% | 8.77% |
| 2023 | -0.68% | 0.38% | -0.05% | -0.25% | 0.21% | 1.68% | 0.27% | -0.69% | -1.01% | 1.10% | -0.06% | 0.88% |
Benchmark Metrics
First Trust Multi-Strategy Alternative ETF has an annualized alpha of 4.85%, beta of 0.18, and R2 of 0.22 versus S&P 500 Index. Calculated based on daily prices since February 01, 2023.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (28.56%) than losses (12.72%) - typical of diversified or defensive assets.
- Beta of 0.18 may look defensive, but with R2 of 0.22 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.22 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 4.85%
- Beta
- 0.18
- R²
- 0.22
- Upside Capture
- 28.56%
- Downside Capture
- 12.72%
Expense Ratio
LALT has a high expense ratio of 1.94%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
LALT ranks 91 for risk / return — above 91% of ETFs peers on PortfoliosLab. Its historical combined result is among the stronger results in the peer group.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for First Trust Multi-Strategy Alternative ETF (LALT) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| LALT | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.97 | ||
| Sortino ratioReturn per unit of downside risk | +1.33 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.25 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 4.45 | 2.00 | +2.45 |
| Martin ratioReturn relative to average drawdown | 12.50 | 8.49 | +4.01 |
Dividends
Dividend History
First Trust Multi-Strategy Alternative ETF provided a 3.73% dividend yield over the last twelve months, with an annual payout of $0.90 per share.
| Period | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Dividend | $0.90 | $0.46 | $0.43 | $0.48 |
Dividend yield | 3.73% | 2.03% | 2.06% | 2.44% |
Monthly Dividends
The table displays the monthly dividend distributions for First Trust Multi-Strategy Alternative ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.50 | $0.00 | $0.00 | $0.07 | $0.00 | $0.58 | |||||
| 2025 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.32 | $0.46 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.36 | $0.43 |
| 2023 | $0.09 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.39 | $0.48 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the First Trust Multi-Strategy Alternative ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the First Trust Multi-Strategy Alternative ETF was 6.97%, occurring on Apr 8, 2025. Recovery took 70 trading sessions.
The current First Trust Multi-Strategy Alternative ETF drawdown is 2.67%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-6.97%Apr 2025 | 1mo 23d | 3mo 14d | 5mo 7dFeb 2025 - Jul 2025 | 2025 selloff2025 |
-3.81%Oct 2023 | 20d | 4mo 5d | 4mo 25dSep 2023 - Feb 2024 | — |
-3.72%Jun 2026 | 1mo 13d | — | 2mo 21dMay 2026 - now | — |
-2.87%Mar 2026 | 10d | 18d | 28dMar 2026 - Apr 2026 | — |
-2.72%Feb 2026 | 6d | 20d | 26dJan 2026 - Feb 2026 | — |
Drawdown Indicators
| LALT | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.97% | -56.78% | +49.81% |
Max Drawdown (1Y)Largest decline over 1 year | -3.72% | -9.10% | +5.38% |
Max Drawdown (3Y)Largest decline over 3 years | -6.97% | -18.90% | +11.93% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -2.67% | -1.58% | -1.09% |
Average DrawdownAverage peak-to-trough decline | -1.06% | -10.70% | +9.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.32% | 2.14% | -0.82% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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