IALT vs. ISMF
IALT (iShares Systematic Alternatives Active ETF) and ISMF (iShares Managed Futures Active ETF) are both exchange-traded funds - IALT is a Multistrategy fund actively managed by iShares, while ISMF is a Systematic Trend fund actively managed by iShares. Both are actively managed. At a 0.31 correlation, their price movements are largely independent. IALT charges 0.99%/yr vs 0.80%/yr for ISMF.
Performance
IALT vs. ISMF - Performance Comparison
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Returns By Period
In the year-to-date period, IALT achieves a 12.39% return, which is significantly higher than ISMF's 6.76% return.
IALT
- 1D
- 0.18%
- 1M
- 0.94%
- YTD
- 12.39%
- 6M
- 12.32%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ISMF
- 1D
- -0.14%
- 1M
- -1.11%
- YTD
- 6.76%
- 6M
- 6.76%
- 1Y
- 22.62%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IALT vs. ISMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IALT iShares Systematic Alternatives Active ETF | 12.39% | 0.83% |
ISMF iShares Managed Futures Active ETF | 6.76% | 3.03% |
Correlation
The correlation between IALT and ISMF is 0.31, 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 10, 2025 | 0.31 |
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Return for Risk
IALT vs. ISMF — Risk / Return Rank
IALT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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.
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 | ISMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.60 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 5.76 | — |
| Martin ratioReturn relative to average drawdown | — | 19.42 | — |
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Drawdowns
IALT vs. ISMF - Drawdown Comparison
The maximum IALT drawdown since its inception was -2.27%, 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 | -2.27% | -4.23% | +1.96% |
Max Drawdown (1Y)Largest decline over 1 year | — | -3.94% | — |
Current DrawdownCurrent decline from peak | -0.74% | -1.49% | +0.75% |
Average DrawdownAverage peak-to-trough decline | -0.38% | -1.28% | +0.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.17% | — |
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 | — | 1.82% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 6.38% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 7.81% | 7.98% | -0.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.81% | 7.73% | +0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.81% | 7.73% | +0.08% |
IALT vs. ISMF - Expense Ratio Comparison
IALT has a 0.99% expense ratio, which is higher than ISMF's 0.80% expense ratio.
Dividends
IALT vs. ISMF - Dividend Comparison
IALT's dividend yield for the trailing twelve months is around 0.40%, less than ISMF's 5.84% yield.
| Position | TTM | 2025 |
|---|---|---|
IALT iShares Systematic Alternatives Active ETF | 0.40% | 0.14% |
ISMF iShares Managed Futures Active ETF | 5.84% | 6.23% |
Frequently Asked Questions
IALT and ISMF have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ISMF is cheaper at 0.80% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ISMF is cheaper with a 0.80% expense ratio, compared with 0.99% for IALT.
ISMF has the higher dividend yield at 5.84%, compared with 0.40% for IALT.
IALT is categorized as Multistrategy, while ISMF is Systematic Trend. Their fees differ too: 0.99% for IALT and 0.80% for ISMF.
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