ALTY vs. PPI

Last updated Jun 24, 2026

ALTY (Global X Alternative Income ETF) and PPI (Astoria Real Assets ETF) are both Global Allocation funds. ALTY is passively managed, while PPI is actively managed. Over the past 3 years, ALTY returned 11.73%/yr vs 21.33%/yr for PPI. A 0.62 correlation means they provide meaningful diversification when combined. ALTY charges 0.50%/yr vs 0.58%/yr for PPI.

Performance

ALTY vs. PPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Alternative Income ETF (ALTY) and Astoria Real Assets ETF (PPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ALTY achieves a 6.45% return, which is significantly lower than PPI's 15.09% return.

ALTY

• 1D: 0.00%
• 1M: 0.00%
• YTD: 6.45%
• 6M: 6.36%
• 1Y: 14.94%
• 3Y*: 11.73%
• 5Y*: 5.49%
• 10Y*: 6.15%

PPI

• 1D: -1.62%
• 1M: -1.89%
• YTD: 15.09%
• 6M: 13.39%
• 1Y: 35.02%
• 3Y*: 21.33%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ALTY vs. PPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ALTY Global X Alternative Income ETF	6.45%	11.07%	10.88%	10.58%	-11.92%	-0.26%
PPI Astoria Real Assets ETF	15.09%	30.05%	6.43%	11.33%	4.04%	0.03%

Correlation

The correlation between ALTY and PPI is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (All Time) Calculated using the full available price history since Dec 30, 2021	0.62

The correlation between ALTY and PPI has been stable across timeframes, ranging from 0.61 to 0.64 - a consistent structural relationship.

Return for Risk

ALTY vs. PPI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ALTY

ALTY Risk / Return Rank: 82
ALTY Sharpe Ratio Rank: 84
ALTY Sortino Ratio Rank: 85
ALTY Omega Ratio Rank: 86
ALTY Calmar Ratio Rank: 72
ALTY Martin Ratio Rank: 83

PPI

PPI Risk / Return Rank: 73
PPI Sharpe Ratio Rank: 72
PPI Sortino Ratio Rank: 66
PPI Omega Ratio Rank: 68
PPI Calmar Ratio Rank: 85
PPI Martin Ratio Rank: 75

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ALTY vs. PPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Alternative Income ETF (ALTY) and Astoria Real Assets ETF (PPI). 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.

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.

	ALTY	PPI	Difference
Sharpe ratio: Return per unit of total volatility	2.55	2.17	+0.38
Sortino ratio: Return per unit of downside risk	3.56	2.84	+0.73
Omega ratio: Gain probability vs. loss probability	1.50	1.38	+0.12
Calmar ratio: Return relative to maximum drawdown	3.46	4.41	-0.95
Martin ratio: Return relative to average drawdown	15.92	13.26	+2.66

ALTY vs. PPI - Sharpe Ratio Comparison

The current ALTY Sharpe Ratio is 2.55, which is comparable to the PPI Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of ALTY and PPI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ALTY vs. PPI - Drawdown Comparison

The maximum ALTY drawdown since its inception was -51.47%, which is greater than PPI's maximum drawdown of -24.54%. Use the drawdown chart below to compare losses from any high point for ALTY and PPI.

Drawdown Indicators

	ALTY	PPI	Difference
Max Drawdown Largest peak-to-trough decline	-51.47%	-24.54%	-26.93%
Max Drawdown (1Y) Largest decline over 1 year	-4.34%	-7.98%	+3.64%
Max Drawdown (3Y) Largest decline over 3 years	-10.08%	-20.70%	+10.62%
Max Drawdown (5Y) Largest decline over 5 years	-18.48%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-51.47%	—	—
Current Drawdown Current decline from peak	-0.32%	-4.45%	+4.13%
Average Drawdown Average peak-to-trough decline	-6.71%	-6.47%	-0.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.94%	2.65%	-1.71%

Volatility

ALTY vs. PPI - Volatility Comparison

The current volatility for Global X Alternative Income ETF (ALTY) is 1.56%, while Astoria Real Assets ETF (PPI) has a volatility of 5.01%. This indicates that ALTY experiences smaller price fluctuations and is considered to be less risky than PPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ALTY	PPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.56%	5.01%	-3.45%
Volatility (6M) Calculated over the trailing 6-month period	4.54%	13.01%	-8.47%
Volatility (1Y) Calculated over the trailing 1-year period	5.90%	16.25%	-10.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.57%	19.04%	-8.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.55%	19.04%	-2.49%

ALTY vs. PPI - Expense Ratio Comparison

ALTY has a 0.50% expense ratio, which is lower than PPI's 0.58% expense ratio.

Dividends

ALTY vs. PPI - Dividend Comparison

ALTY's dividend yield for the trailing twelve months is around 7.46%, more than PPI's 1.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ALTY Global X Alternative Income ETF	7.46%	7.50%	7.88%	7.31%	7.66%	6.88%	9.20%	8.74%	8.49%	7.52%	8.20%	4.21%
PPI Astoria Real Assets ETF	1.02%	1.06%	0.60%	2.87%	2.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ALTY and PPI in my portfolio?

ALTY and PPI have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ALTY or PPI?

PPI has higher volatility (5.01%) compared to ALTY (1.56%). In terms of maximum drawdown, ALTY dropped -51.47% vs PPI's -24.54%.

Which ETF is better, ALTY or PPI?

On 3-year performance, PPI leads with 21.33% vs 11.73% for ALTY. On fees, ALTY is cheaper at 0.50% per year. On volatility, ALTY has been the lower-risk option at 1.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ALTY or PPI?

Over the 3-year period, PPI has performed better with a 21.33% return vs 11.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ALTY or PPI?

ALTY is cheaper with a 0.50% expense ratio, compared with 0.58% for PPI.

Which ETF pays a higher dividend yield, ALTY or PPI?

ALTY has the higher dividend yield at 7.46%, compared with 1.02% for PPI.

What is the main difference between ALTY and PPI?

They also come from different issuers: Global X and AXS. Their fees differ too: 0.50% for ALTY and 0.58% for PPI.

Which has better risk-adjusted returns?

ALTY currently has the higher Sharpe Ratio (2.55 vs 2.17), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.