ALLW vs. IALT
ALLW (SPDR Bridgewater All Weather ETF) and IALT (iShares Systematic Alternatives Active ETF) are both exchange-traded funds - ALLW is a Tactical Allocation fund actively managed by State Street, while IALT is a Multistrategy fund actively managed by iShares. Both are actively managed. At a 0.50 correlation, their price movements are largely independent. ALLW charges 0.85%/yr vs 0.99%/yr for IALT.
Performance
ALLW vs. IALT - Performance Comparison
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Returns By Period
In the year-to-date period, ALLW achieves a 9.20% return, which is significantly lower than IALT's 13.14% return.
ALLW
- 1D
- -0.76%
- 1M
- 0.91%
- YTD
- 9.20%
- 6M
- 8.47%
- 1Y
- 23.78%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IALT
- 1D
- -0.07%
- 1M
- 2.25%
- YTD
- 13.14%
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ALLW vs. IALT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ALLW SPDR Bridgewater All Weather ETF | 9.20% | -0.12% |
IALT iShares Systematic Alternatives Active ETF | 13.14% | 0.73% |
Correlation
The correlation between ALLW and IALT is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 11, 2025 | 0.50 |
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Return for Risk
ALLW vs. IALT — Risk / Return Rank
ALLW
IALT
ALLW vs. IALT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bridgewater All Weather ETF (ALLW) and iShares Systematic Alternatives Active ETF (IALT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| ALLW | IALT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.41 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.30 | — | — |
| Martin ratioReturn relative to average drawdown | 14.01 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ALLW | IALT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.27 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.62 | 4.28 | -2.67 |
Drawdowns
ALLW vs. IALT - Drawdown Comparison
The maximum ALLW drawdown since its inception was -8.78%, which is greater than IALT's maximum drawdown of -1.47%. Use the drawdown chart below to compare losses from any high point for ALLW and IALT.
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Drawdown Indicators
| ALLW | IALT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.78% | -1.47% | -7.31% |
Max Drawdown (1Y)Largest decline over 1 year | -7.23% | — | — |
Current DrawdownCurrent decline from peak | -0.79% | -0.07% | -0.72% |
Average DrawdownAverage peak-to-trough decline | -1.20% | -0.32% | -0.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.70% | — | — |
Volatility
ALLW vs. IALT - Volatility Comparison
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Volatility by Period
| ALLW | IALT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.43% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 8.71% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 10.52% | 7.48% | +3.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.54% | 7.48% | +5.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.54% | 7.48% | +5.06% |
ALLW vs. IALT - Expense Ratio Comparison
ALLW has a 0.85% expense ratio, which is lower than IALT's 0.99% expense ratio.
Dividends
ALLW vs. IALT - Dividend Comparison
ALLW's dividend yield for the trailing twelve months is around 4.28%, more than IALT's 0.12% yield.
| Position | TTM | 2025 |
|---|---|---|
ALLW SPDR Bridgewater All Weather ETF | 4.28% | 4.67% |
IALT iShares Systematic Alternatives Active ETF | 0.12% | 0.14% |
Frequently Asked Questions
ALLW and IALT have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ALLW is cheaper at 0.85% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ALLW is cheaper with a 0.85% expense ratio, compared with 0.99% for IALT.
ALLW has the higher dividend yield at 4.28%, compared with 0.12% for IALT.
ALLW is categorized as Tactical Allocation, while IALT is Multistrategy. They also come from different issuers: State Street and iShares. Their fees differ too: 0.85% for ALLW and 0.99% for IALT.
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