IALT vs. HF

Last updated Jun 24, 2026

IALT (iShares Systematic Alternatives Active ETF) and HF (DGA Core Plus Absolute Return ETF) are both Multistrategy funds. Both are actively managed. A 0.53 correlation means they provide meaningful diversification when combined. IALT charges 0.99%/yr vs 1.70%/yr for HF.

Performance

IALT vs. HF - Performance Comparison

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

Returns By Period

In the year-to-date period, IALT achieves a 12.03% return, which is significantly higher than HF's 4.52% return.

IALT

• 1D: -0.32%
• 1M: 0.62%
• YTD: 12.03%
• 6M: 12.02%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HF

• 1D: -0.79%
• 1M: -0.55%
• YTD: 4.52%
• 6M: 4.09%
• 1Y: 10.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IALT vs. HF - Yearly Performance Comparison

	2026 (YTD)	2025
IALT iShares Systematic Alternatives Active ETF	12.03%	0.83%
HF DGA Core Plus Absolute Return ETF	4.52%	0.29%

Correlation

The correlation between IALT and HF is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 10, 2025	0.53

Return for Risk

IALT vs. HF — 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.

HF

HF Risk / Return Rank: 69
HF Sharpe Ratio Rank: 64
HF Sortino Ratio Rank: 65
HF Omega Ratio Rank: 70
HF Calmar Ratio Rank: 75
HF Martin Ratio Rank: 72

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. HF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Systematic Alternatives Active ETF (IALT) and DGA Core Plus Absolute Return ETF (HF). 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	HF	Difference
Sharpe ratio: Return per unit of total volatility	—	1.91	—
Sortino ratio: Return per unit of downside risk	—	2.72	—
Omega ratio: Gain probability vs. loss probability	—	1.37	—
Calmar ratio: Return relative to maximum drawdown	—	3.44	—
Martin ratio: Return relative to average drawdown	—	12.16	—

Drawdowns

IALT vs. HF - Drawdown Comparison

The maximum IALT drawdown since its inception was -2.27%, smaller than the maximum HF drawdown of -5.94%. Use the drawdown chart below to compare losses from any high point for IALT and HF.

Drawdown Indicators

	IALT	HF	Difference
Max Drawdown Largest peak-to-trough decline	-2.27%	-5.94%	+3.67%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.14%	—
Current Drawdown Current decline from peak	-1.05%	-1.51%	+0.46%
Average Drawdown Average peak-to-trough decline	-0.39%	-1.63%	+1.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.89%	—

Volatility

Volatility by Period

	IALT	HF	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.00%	—
Volatility (6M) Calculated over the trailing 6-month period	—	4.77%	—
Volatility (1Y) Calculated over the trailing 1-year period	7.80%	5.69%	+2.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.80%	6.39%	+1.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.80%	6.39%	+1.41%

IALT vs. HF - Expense Ratio Comparison

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

Dividends

IALT vs. HF - Dividend Comparison

IALT's dividend yield for the trailing twelve months is around 0.40%, less than HF's 0.90% 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	0.40%	0.14%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IALT and HF in my portfolio?

IALT and HF have a correlation of 0.53, 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 HF?

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, IALT or HF?

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

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

HF has the higher dividend yield at 0.90%, compared with 0.40% for IALT.

What is the main difference between IALT and HF?

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