IALT vs. MKTN

Last updated Jun 4, 2026

IALT (iShares Systematic Alternatives Active ETF) and MKTN (Federated Hermes MDT Market Neutral ETF) are both exchange-traded funds - IALT is a Multistrategy fund actively managed by iShares, while MKTN is a Long-Short fund actively managed by Federated Hermes. Both are actively managed. At a correlation of -0.02, they often move in opposite directions.

Performance

IALT vs. MKTN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Systematic Alternatives Active ETF (IALT) and Federated Hermes MDT Market Neutral ETF (MKTN). 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 higher than MKTN's 1.27% return.

IALT

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

MKTN

• 1D: 0.12%
• 1M: 1.01%
• YTD: 1.27%
• 6M: 4.04%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IALT vs. MKTN - Yearly Performance Comparison

	2026 (YTD)	2025
IALT iShares Systematic Alternatives Active ETF	13.14%	0.73%
MKTN Federated Hermes MDT Market Neutral ETF	1.27%	1.34%

Correlation

The correlation between IALT and MKTN is -0.02, 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 11, 2025	-0.02

Return for Risk

IALT vs. MKTN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Systematic Alternatives Active ETF (IALT) and Federated Hermes MDT Market Neutral ETF (MKTN). 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	MKTN	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	4.28	1.06	+3.23

Drawdowns

IALT vs. MKTN - Drawdown Comparison

The maximum IALT drawdown since its inception was -1.47%, smaller than the maximum MKTN drawdown of -4.13%. Use the drawdown chart below to compare losses from any high point for IALT and MKTN.

Drawdown Indicators

	IALT	MKTN	Difference
Max Drawdown Largest peak-to-trough decline	-1.47%	-4.13%	+2.66%
Current Drawdown Current decline from peak	-0.07%	-0.65%	+0.58%
Average Drawdown Average peak-to-trough decline	-0.32%	-1.13%	+0.81%

Volatility

Volatility by Period

	IALT	MKTN	Difference
Volatility (1Y) Calculated over the trailing 1-year period	7.48%	6.81%	+0.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.48%	6.81%	+0.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.48%	6.81%	+0.67%

Dividends

IALT vs. MKTN - Dividend Comparison

IALT's dividend yield for the trailing twelve months is around 0.12%, less than MKTN's 0.50% yield.

Position	TTM	2025
IALT iShares Systematic Alternatives Active ETF	0.12%	0.14%
MKTN Federated Hermes MDT Market Neutral ETF	0.50%	0.51%

Frequently Asked Questions

Can I hold both IALT and MKTN in my portfolio?

IALT and MKTN have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

MKTN has the higher dividend yield at 0.50%, compared with 0.12% for IALT.

What is the main difference between IALT and MKTN?

IALT is categorized as Multistrategy, while MKTN is Long-Short. They also come from different issuers: iShares and Federated Hermes.