HF vs. IALT

Last updated Jun 6, 2026

HF (DGA Core Plus Absolute Return ETF) and IALT (iShares Systematic Alternatives Active ETF) are both Multistrategy funds. Both are actively managed. At a 0.47 correlation, their price movements are largely independent. HF charges 1.70%/yr vs 0.99%/yr for IALT.

Performance

HF vs. IALT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DGA Core Plus Absolute Return ETF (HF) and iShares Systematic Alternatives Active ETF (IALT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HF achieves a 4.33% return, which is significantly lower than IALT's 11.84% return.

HF

• 1D: -1.42%
• 1M: 0.65%
• YTD: 4.33%
• 6M: 4.44%
• 1Y: 11.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IALT

• 1D: -1.19%
• 1M: 0.78%
• YTD: 11.84%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HF vs. IALT - Yearly Performance Comparison

	2026 (YTD)	2025
HF DGA Core Plus Absolute Return ETF	4.33%	-0.04%
IALT iShares Systematic Alternatives Active ETF	11.84%	0.73%

Correlation

The correlation between HF and IALT is 0.47, 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	0.47

Return for Risk

HF vs. IALT — Risk / Return Rank

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

HF

HF Risk / Return Rank: 75
HF Sharpe Ratio Rank: 72
HF Sortino Ratio Rank: 74
HF Omega Ratio Rank: 77
HF Calmar Ratio Rank: 77
HF 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.

HF vs. IALT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DGA Core Plus Absolute Return ETF (HF) 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.

	HF	IALT	Difference
Sharpe ratio: Return per unit of total volatility	2.10	—	—
Sortino ratio: Return per unit of downside risk	2.98	—	—
Omega ratio: Gain probability vs. loss probability	1.41	—	—
Calmar ratio: Return relative to maximum drawdown	3.56	—	—
Martin ratio: Return relative to average drawdown	13.01	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	HF	IALT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.10	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.38	3.70	-2.32

Drawdowns

HF vs. IALT - Drawdown Comparison

The maximum HF drawdown since its inception was -5.94%, which is greater than IALT's maximum drawdown of -1.47%. Use the drawdown chart below to compare losses from any high point for HF and IALT.

Drawdown Indicators

	HF	IALT	Difference
Max Drawdown Largest peak-to-trough decline	-5.94%	-1.47%	-4.47%
Max Drawdown (1Y) Largest decline over 1 year	-3.14%	—	—
Current Drawdown Current decline from peak	-1.42%	-1.22%	-0.20%
Average Drawdown Average peak-to-trough decline	-1.63%	-0.33%	-1.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.86%	—	—

Volatility

Volatility by Period

	HF	IALT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.55%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.23%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	5.33%	7.65%	-2.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.30%	7.65%	-1.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.30%	7.65%	-1.35%

HF vs. IALT - Expense Ratio Comparison

HF has a 1.70% expense ratio, which is higher than IALT's 0.99% expense ratio.

Dividends

HF vs. IALT - Dividend Comparison

HF's dividend yield for the trailing twelve months is around 0.90%, more than IALT's 0.12% yield.

Position	TTM	2025	2024	2023
HF DGA Core Plus Absolute Return ETF	0.90%	0.94%	11.18%	2.49%
IALT iShares Systematic Alternatives Active ETF	0.12%	0.14%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HF and IALT in my portfolio?

HF and IALT have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HF or IALT?

On fees, IALT is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HF or IALT?

IALT is cheaper with a 0.99% expense ratio, compared with 1.70% for HF.

Which ETF pays a higher dividend yield, HF or IALT?

HF has the higher dividend yield at 0.90%, compared with 0.12% for IALT.

What is the main difference between HF and IALT?

They also come from different issuers: Days Global Advisors and iShares. Their fees differ too: 1.70% for HF and 0.99% for IALT.