IALT vs. FFUT

Last updated Jun 23, 2026

IALT (iShares Systematic Alternatives Active ETF) and FFUT (Fidelity Managed Futures ETF) are both exchange-traded funds - IALT is a Multistrategy fund actively managed by iShares, while FFUT is a Systematic Trend fund actively managed by Fidelity. Both are actively managed. At a 0.07 correlation, their price movements are largely independent. IALT charges 0.99%/yr vs 0.80%/yr for FFUT.

Performance

IALT vs. FFUT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Systematic Alternatives Active ETF (IALT) and Fidelity Managed Futures ETF (FFUT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IALT achieves a 12.39% return, which is significantly higher than FFUT's 9.23% return.

IALT

• 1D: 0.18%
• 1M: 0.94%
• YTD: 12.39%
• 6M: 12.32%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FFUT

• 1D: -0.52%
• 1M: -2.34%
• YTD: 9.23%
• 6M: 9.36%
• 1Y: 18.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IALT vs. FFUT - Yearly Performance Comparison

	2026 (YTD)	2025
IALT iShares Systematic Alternatives Active ETF	12.39%	0.83%
FFUT Fidelity Managed Futures ETF	9.23%	0.93%

Correlation

The correlation between IALT and FFUT is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 10, 2025	0.07

Return for Risk

IALT vs. FFUT — Risk / Return Rank

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

IALT

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

FFUT

FFUT Risk / Return Rank: 64
FFUT Sharpe Ratio Rank: 51
FFUT Sortino Ratio Rank: 51
FFUT Omega Ratio Rank: 54
FFUT Calmar Ratio Rank: 87
FFUT Martin Ratio Rank: 80

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.

IALT vs. FFUT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Systematic Alternatives Active ETF (IALT) and Fidelity Managed Futures ETF (FFUT). 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.

	IALT	FFUT	Difference
Sharpe ratio: Return per unit of total volatility	—	1.69	—
Sortino ratio: Return per unit of downside risk	—	2.42	—
Omega ratio: Gain probability vs. loss probability	—	1.33	—
Calmar ratio: Return relative to maximum drawdown	—	4.77	—
Martin ratio: Return relative to average drawdown	—	15.04	—

Drawdowns

IALT vs. FFUT - Drawdown Comparison

The maximum IALT drawdown since its inception was -2.27%, smaller than the maximum FFUT drawdown of -3.98%. Use the drawdown chart below to compare losses from any high point for IALT and FFUT.

Drawdown Indicators

	IALT	FFUT	Difference
Max Drawdown Largest peak-to-trough decline	-2.27%	-3.98%	+1.71%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.98%	—
Current Drawdown Current decline from peak	-0.74%	-3.98%	+3.24%
Average Drawdown Average peak-to-trough decline	-0.38%	-0.94%	+0.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.26%	—

Volatility

Volatility by Period

	IALT	FFUT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.92%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.96%	—
Volatility (1Y) Calculated over the trailing 1-year period	7.81%	11.23%	-3.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.81%	11.03%	-3.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.81%	11.03%	-3.22%

IALT vs. FFUT - Expense Ratio Comparison

IALT has a 0.99% expense ratio, which is higher than FFUT's 0.80% expense ratio.

Dividends

IALT vs. FFUT - Dividend Comparison

IALT's dividend yield for the trailing twelve months is around 0.40%, less than FFUT's 1.91% yield.

Position	TTM	2025
FFUT Fidelity Managed Futures ETF	1.91%	2.09%
IALT iShares Systematic Alternatives Active ETF	0.40%	0.14%

Frequently Asked Questions

Can I hold both IALT and FFUT in my portfolio?

IALT and FFUT have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IALT or FFUT?

On fees, FFUT is cheaper at 0.80% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IALT or FFUT?

FFUT is cheaper with a 0.80% expense ratio, compared with 0.99% for IALT.

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

FFUT has the higher dividend yield at 1.91%, compared with 0.40% for IALT.

What is the main difference between IALT and FFUT?

IALT is categorized as Multistrategy, while FFUT is Systematic Trend. They also come from different issuers: iShares and Fidelity. Their fees differ too: 0.99% for IALT and 0.80% for FFUT.