IALT vs. RLY

Last updated Apr 1, 2026

Compare and contrast key facts about iShares Systematic Alternatives Active ETF (IALT) and SPDR SSgA Multi-Asset Real Return ETF (RLY).

IALT and RLY 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. RLY is an actively managed fund by State Street. It was launched on Apr 25, 2012.

Performance

IALT vs. RLY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Systematic Alternatives Active ETF (IALT) and SPDR SSgA Multi-Asset Real Return ETF (RLY). The values are adjusted to include any dividend payments, if applicable.

IALT vs. RLY - Yearly Performance Comparison

	2026 (YTD)	2025
IALT iShares Systematic Alternatives Active ETF	7.75%	0.73%
RLY SPDR SSgA Multi-Asset Real Return ETF	15.06%	1.27%

Returns By Period

In the year-to-date period, IALT achieves a 7.75% return, which is significantly lower than RLY's 15.06% return.

IALT

• 1D: 0.82%
• 1M: 3.45%
• YTD: 7.75%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

RLY

• 1D: 0.56%
• 1M: 0.18%
• YTD: 15.06%
• 6M: 19.65%
• 1Y: 31.00%
• 3Y*: 13.12%
• 5Y*: 12.04%
• 10Y*: 8.82%

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

IALT vs. RLY - Expense Ratio Comparison

IALT has a 0.99% expense ratio, which is higher than RLY's 0.50% expense ratio.

IALT

iShares Systematic Alternatives Active ETF

RLY

SPDR SSgA Multi-Asset Real Return ETF

Return for Risk

IALT vs. RLY — Risk / Return Rank

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

RLY

RLY Risk / Return Rank: 95
RLY Sharpe Ratio Rank: 95
RLY Sortino Ratio Rank: 95
RLY Omega Ratio Rank: 96
RLY Calmar Ratio Rank: 92
RLY Martin Ratio Rank: 97

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. RLY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Systematic Alternatives Active ETF (IALT) and SPDR SSgA Multi-Asset Real Return ETF (RLY). 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	RLY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.36	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.89	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.64	—
Sharpe Ratio (All Time) Calculated using the full available price history	4.40	0.37	+4.03

Correlation

The correlation between IALT and RLY is 0.38, 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. RLY - Dividend Comparison

IALT's dividend yield for the trailing twelve months is around 0.13%, less than RLY's 2.91% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IALT iShares Systematic Alternatives Active ETF	0.13%	0.14%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RLY SPDR SSgA Multi-Asset Real Return ETF	2.91%	3.24%	3.31%	3.71%	5.66%	12.15%	2.16%	3.45%	2.76%	1.85%	2.07%	1.80%

Drawdowns

IALT vs. RLY - Drawdown Comparison

The maximum IALT drawdown since its inception was -1.28%, smaller than the maximum RLY drawdown of -37.75%. Use the drawdown chart below to compare losses from any high point for IALT and RLY.

Drawdown Indicators

	IALT	RLY	Difference
Max Drawdown Largest peak-to-trough decline	-1.28%	-37.75%	+36.47%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.94%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.94%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-34.17%	—
Current Drawdown Current decline from peak	0.00%	-0.34%	+0.34%
Average Drawdown Average peak-to-trough decline	-0.26%	-9.57%	+9.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.68%	—

Volatility

Volatility by Period

	IALT	RLY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.54%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.53%	—
Volatility (1Y) Calculated over the trailing 1-year period	7.25%	13.22%	-5.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.25%	13.61%	-6.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.25%	13.82%	-6.57%