IALT vs. ISMF
Compare and contrast key facts about iShares Systematic Alternatives Active ETF (IALT) and iShares Managed Futures Active ETF (ISMF).
IALT and ISMF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IALT is an actively managed fund by iShares. It was launched on Dec 9, 2025. ISMF is an actively managed fund by iShares. It was launched on Mar 12, 2025.
Performance
IALT vs. ISMF - Performance Comparison
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IALT vs. ISMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IALT iShares Systematic Alternatives Active ETF | 7.75% | 0.73% |
ISMF iShares Managed Futures Active ETF | 3.84% | 2.48% |
Returns By Period
In the year-to-date period, IALT achieves a 7.75% return, which is significantly higher than ISMF's 3.84% return.
IALT
- 1D
- 0.82%
- 1M
- 3.45%
- YTD
- 7.75%
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ISMF
- 1D
- 0.21%
- 1M
- -1.88%
- YTD
- 3.84%
- 6M
- 9.57%
- 1Y
- 15.08%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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IALT vs. ISMF - Expense Ratio Comparison
IALT has a 0.99% expense ratio, which is higher than ISMF's 0.80% expense ratio.
Return for Risk
IALT vs. ISMF — Risk / Return Rank
IALT
ISMF
IALT vs. ISMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Systematic Alternatives Active ETF (IALT) and iShares Managed Futures Active ETF (ISMF). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| IALT | ISMF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 1.84 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 4.40 | 1.87 | +2.53 |
Correlation
The correlation between IALT and ISMF is 0.36, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
IALT vs. ISMF - Dividend Comparison
IALT's dividend yield for the trailing twelve months is around 0.13%, less than ISMF's 6.00% yield.
| TTM | 2025 | |
|---|---|---|
IALT iShares Systematic Alternatives Active ETF | 0.13% | 0.14% |
ISMF iShares Managed Futures Active ETF | 6.00% | 6.23% |
Drawdowns
IALT vs. ISMF - Drawdown Comparison
The maximum IALT drawdown since its inception was -1.28%, smaller than the maximum ISMF drawdown of -4.23%. Use the drawdown chart below to compare losses from any high point for IALT and ISMF.
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Drawdown Indicators
| IALT | ISMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.28% | -4.23% | +2.95% |
Max Drawdown (1Y)Largest decline over 1 year | — | -4.23% | — |
Current DrawdownCurrent decline from peak | 0.00% | -2.10% | +2.10% |
Average DrawdownAverage peak-to-trough decline | -0.26% | -1.41% | +1.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.93% | — |
Volatility
IALT vs. ISMF - Volatility Comparison
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Volatility by Period
| IALT | ISMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 2.90% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 7.19% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 7.25% | 8.24% | -0.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.25% | 8.10% | -0.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.25% | 8.10% | -0.85% |