IALT vs. IWM

Last updated Jun 4, 2026

IALT (iShares Systematic Alternatives Active ETF) and IWM (iShares Russell 2000 ETF) are both exchange-traded funds - IALT is a Multistrategy fund actively managed by iShares, while IWM is a Small Cap Blend Equities fund tracking the Russell 2000 Index. IALT is actively managed, while IWM is passively managed. At a 0.45 correlation, their price movements are largely independent. IALT charges 0.99%/yr vs 0.19%/yr for IWM.

Performance

IALT vs. IWM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Systematic Alternatives Active ETF (IALT) and iShares Russell 2000 ETF (IWM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IALT achieves a 13.14% return, which is significantly lower than IWM's 17.07% return.

IALT

• 1D: -0.07%
• 1M: 2.25%
• YTD: 13.14%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IWM

• 1D: -1.37%
• 1M: 3.52%
• YTD: 17.07%
• 6M: 15.83%
• 1Y: 39.10%
• 3Y*: 17.88%
• 5Y*: 6.11%
• 10Y*: 10.93%

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

IALT vs. IWM - Yearly Performance Comparison

	2026 (YTD)	2025
IALT iShares Systematic Alternatives Active ETF	13.14%	0.73%
IWM iShares Russell 2000 ETF	17.07%	-3.07%

Correlation

The correlation between IALT and IWM is 0.45, 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	0.45

Return for Risk

IALT vs. IWM — Risk / Return Rank

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

IWM

IWM Risk / Return Rank: 62
IWM Sharpe Ratio Rank: 59
IWM Sortino Ratio Rank: 59
IWM Omega Ratio Rank: 53
IWM Calmar Ratio Rank: 70
IWM Martin Ratio Rank: 67

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. IWM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Systematic Alternatives Active ETF (IALT) and iShares Russell 2000 ETF (IWM). 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.

Sharpe Ratios by Period

	IALT	IWM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.05	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.27	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	4.28	0.37	+3.92

Drawdowns

IALT vs. IWM - Drawdown Comparison

The maximum IALT drawdown since its inception was -1.47%, smaller than the maximum IWM drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for IALT and IWM.

Drawdown Indicators

	IALT	IWM	Difference
Max Drawdown Largest peak-to-trough decline	-1.47%	-59.05%	+57.58%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.03%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-27.50%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-31.91%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.13%	—
Current Drawdown Current decline from peak	-0.07%	-1.49%	+1.42%
Average Drawdown Average peak-to-trough decline	-0.32%	-10.77%	+10.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.10%	—

Volatility

Volatility by Period

	IALT	IWM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.75%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.53%	—
Volatility (1Y) Calculated over the trailing 1-year period	7.48%	19.20%	-11.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.48%	22.52%	-15.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.48%	23.04%	-15.56%

IALT vs. IWM - Expense Ratio Comparison

IALT has a 0.99% expense ratio, which is higher than IWM's 0.19% expense ratio.

Dividends

IALT vs. IWM - Dividend Comparison

IALT's dividend yield for the trailing twelve months is around 0.12%, less than IWM's 0.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IALT iShares Systematic Alternatives Active ETF	0.12%	0.14%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IWM iShares Russell 2000 ETF	0.88%	1.04%	1.15%	1.35%	1.48%	0.94%	1.04%	1.26%	1.40%	1.26%	1.38%	1.54%

Frequently Asked Questions

Can I hold both IALT and IWM in my portfolio?

IALT and IWM have a correlation of 0.45, 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 IWM?

On fees, IWM is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IALT or IWM?

IWM is cheaper with a 0.19% expense ratio, compared with 0.99% for IALT.

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

IWM has the higher dividend yield at 0.88%, compared with 0.12% for IALT.

What is the main difference between IALT and IWM?

IALT is categorized as Multistrategy, while IWM is Small Cap Blend Equities. Their fees differ too: 0.99% for IALT and 0.19% for IWM.