IALT vs. QALT

Last updated Jun 4, 2026

IALT (iShares Systematic Alternatives Active ETF) and QALT (SEI DBi Multi-Strategy Alternative ETF) are both Multistrategy funds. Both are actively managed. At a 0.40 correlation, their price movements are largely independent. IALT charges 0.99%/yr vs 0.80%/yr for QALT.

Performance

IALT vs. QALT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Systematic Alternatives Active ETF (IALT) and SEI DBi Multi-Strategy Alternative ETF (QALT). 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 QALT's 6.22% return.

IALT

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

QALT

• 1D: -0.09%
• 1M: 3.42%
• YTD: 6.22%
• 6M: 6.99%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IALT vs. QALT - Yearly Performance Comparison

	2026 (YTD)	2025
IALT iShares Systematic Alternatives Active ETF	13.14%	0.73%
QALT SEI DBi Multi-Strategy Alternative ETF	6.22%	0.34%

Correlation

The correlation between IALT and QALT is 0.40, 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	0.40

Return for Risk

IALT vs. QALT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Systematic Alternatives Active ETF (IALT) and SEI DBi Multi-Strategy Alternative ETF (QALT). 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	QALT	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	4.28	1.98	+2.30

Drawdowns

IALT vs. QALT - Drawdown Comparison

The maximum IALT drawdown since its inception was -1.47%, smaller than the maximum QALT drawdown of -4.85%. Use the drawdown chart below to compare losses from any high point for IALT and QALT.

Drawdown Indicators

	IALT	QALT	Difference
Max Drawdown Largest peak-to-trough decline	-1.47%	-4.85%	+3.38%
Current Drawdown Current decline from peak	-0.07%	-0.27%	+0.20%
Average Drawdown Average peak-to-trough decline	-0.32%	-1.37%	+1.05%

Volatility

Volatility by Period

	IALT	QALT	Difference
Volatility (1Y) Calculated over the trailing 1-year period	7.48%	7.63%	-0.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.48%	7.63%	-0.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.48%	7.63%	-0.15%

IALT vs. QALT - Expense Ratio Comparison

IALT has a 0.99% expense ratio, which is higher than QALT's 0.80% expense ratio.

Dividends

IALT vs. QALT - Dividend Comparison

IALT's dividend yield for the trailing twelve months is around 0.12%, less than QALT's 5.46% yield.

Position	TTM	2025
IALT iShares Systematic Alternatives Active ETF	0.12%	0.14%
QALT SEI DBi Multi-Strategy Alternative ETF	5.46%	5.15%

Frequently Asked Questions

Can I hold both IALT and QALT in my portfolio?

IALT and QALT have a correlation of 0.40, 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 QALT?

On fees, QALT is cheaper at 0.80% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IALT or QALT?

QALT is cheaper with a 0.80% expense ratio, compared with 0.99% for IALT.

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

QALT has the higher dividend yield at 5.46%, compared with 0.12% for IALT.

What is the main difference between IALT and QALT?

They also come from different issuers: iShares and SEI. Their fees differ too: 0.99% for IALT and 0.80% for QALT.