- 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
- $101M
Share Price Chart
Loading charts...
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Performance
LALT Performance Chart
First Trust Multi-Strategy Alternative ETF (LALT) is up 8.8% since the beginning of the year. LALT is currently trading at $24 per share.
Loading charts...
Returns By Period
First Trust Multi-Strategy Alternative ETF (LALT) has returned 8.81% so far this year and 18.67% over the past 12 months.
First Trust Multi-Strategy Alternative ETF
- 1D
- 0.09%
- 1M
- -2.03%
- YTD
- 8.81%
- 6M
- 8.66%
- 1Y
- 18.67%
- 3Y*
- 10.18%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
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 +0.69%. At this rate, an investment would double in approximately 8.4 years.
Historically, 61% of months were positive and 39% were negative. The best month was Jan 2026 with a return of +4.2%, while the worst month was Jun 2026 at -1.9%. 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% | -1.91% | 8.81% | ||||||
| 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 5.07%, 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 (12.18%) - 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
- 5.07%
- Beta
- 0.18
- R²
- 0.22
- Upside Capture
- 28.56%
- Downside Capture
- 12.18%
Expense Ratio
LALT has a high expense ratio of 1.94%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
LALT ranks 89 for risk / return — in the top 89% of ETFs on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by 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 | +0.64 | ||
| Sortino ratioReturn per unit of downside risk | +0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.37 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 6.54 | 2.78 | +3.75 |
| Martin ratioReturn relative to average drawdown | 21.71 | 12.44 | +9.27 |
Dividends
Dividend History
First Trust Multi-Strategy Alternative ETF provided a 3.74% dividend yield over the last twelve months, with an annual payout of $0.91 per share.
| Period | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Dividend | $0.91 | $0.46 | $0.43 | $0.48 |
Dividend yield | 3.74% | 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 | $0.00 | $0.50 | ||||||
| 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.
Loading charts...
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 2.50%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 selloff2025 | -6.97%Apr 2025 | 1mo 23d | 3mo 14d | 5mo 7dFeb 2025 - Jul 2025 |
2023 pullback2023 | -3.81%Oct 2023 | 20d | 4mo 5d | 4mo 25dSep 2023 - Feb 2024 |
2026 pullback2026 | -2.87%Mar 2026 | 10d | 18d | 28dMar 2026 - Apr 2026 |
2026 pullback2026 | -2.72%Feb 2026 | 6d | 20d | 26dJan 2026 - Feb 2026 |
2026 pullback2026 | -2.65%Jun 2026 | 26d | — | 1mo 10dMay 2026 - now |
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 | -2.87% | -9.10% | +6.23% |
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 | -2.50% | -1.80% | -0.70% |
Average DrawdownAverage peak-to-trough decline | -0.99% | -10.71% | +9.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.86% | 2.03% | -1.17% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
Loading charts...
Build a portfolio with LALT
Add First Trust Multi-Strategy Alternative ETF to a portfolio and analyze allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Analyzer with LALT