IALT vs. SBIL

Last updated Jul 17, 2026

IALT (iShares Systematic Alternatives Active ETF) and SBIL (Simplify Government Money Market ETF) are both exchange-traded funds - IALT is a Multistrategy fund actively managed by iShares, while SBIL is a Money Market fund actively managed by Simplify. Both are actively managed. At a correlation of -0.06, they often move in opposite directions. IALT charges 0.99%/yr vs 0.15%/yr for SBIL.

Performance

IALT vs. SBIL - Performance Comparison

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

Returns By Period

In the year-to-date period, IALT achieves a 12.72% return, which is significantly higher than SBIL's 1.91% return.

IALT

• 1D: -0.19%
• 1M: 0.55%
• 6M: 10.17%
• YTD: 12.72%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SBIL

• 1D: 0.00%
• 1M: 0.28%
• 6M: 1.76%
• YTD: 1.91%
• 1Y: 3.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IALT vs. SBIL - Yearly Performance Comparison

	2026 (YTD)	2025
IALT iShares Systematic Alternatives Active ETF	12.72%	0.83%
SBIL Simplify Government Money Market ETF	1.91%	0.22%

Correlation

The correlation between IALT and SBIL is -0.06, 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 10, 2025	-0.06

Return for Risk

IALT vs. SBIL — Risk / Return Rank

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

IALT

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

SBIL

SBIL Risk / Return Rank: 100
SBIL Sharpe Ratio Rank: 100
SBIL Sortino Ratio Rank: 100
SBIL Omega Ratio Rank: 100
SBIL Calmar Ratio Rank: 100
SBIL Martin Ratio Rank: 100

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. SBIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Systematic Alternatives Active ETF (IALT) and Simplify Government Money Market ETF (SBIL). 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	SBIL	Difference
Sharpe ratio: Return per unit of total volatility	—	14.52	—
Sortino ratio: Return per unit of downside risk	—	52.25	—
Omega ratio: Gain probability vs. loss probability	—	11.71	—
Calmar ratio: Return relative to maximum drawdown	—	128.05	—
Martin ratio: Return relative to average drawdown	—	782.04	—

Drawdowns

IALT vs. SBIL - Drawdown Comparison

The maximum IALT drawdown since its inception was -2.27%, which is greater than SBIL's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for IALT and SBIL.

Drawdown Indicators

	IALT	SBIL	Difference
Max Drawdown Largest peak-to-trough decline	-2.27%	-0.03%	-2.24%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.03%	—
Current Drawdown Current decline from peak	-0.44%	0.00%	-0.44%
Average Drawdown Average peak-to-trough decline	-0.48%	-0.00%	-0.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.00%	—

Volatility

Volatility by Period

	IALT	SBIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.04%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.18%	—
Volatility (1Y) Calculated over the trailing 1-year period	7.75%	0.26%	+7.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.75%	0.26%	+7.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.75%	0.26%	+7.49%

IALT vs. SBIL - Expense Ratio Comparison

IALT has a 0.99% expense ratio, which is higher than SBIL's 0.15% expense ratio.

Dividends

IALT vs. SBIL - Dividend Comparison

IALT's dividend yield for the trailing twelve months is around 0.40%, less than SBIL's 3.55% yield.

Position	TTM	2025
IALT iShares Systematic Alternatives Active ETF	0.40%	0.14%
SBIL Simplify Government Money Market ETF	3.55%	1.79%

Frequently Asked Questions

Can I hold both IALT and SBIL in my portfolio?

IALT and SBIL have a correlation of -0.06, 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 SBIL?

On fees, SBIL is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IALT or SBIL?

SBIL is cheaper with a 0.15% expense ratio, compared with 0.99% for IALT.

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

SBIL has the higher dividend yield at 3.55%, compared with 0.40% for IALT.

What is the main difference between IALT and SBIL?

IALT is categorized as Multistrategy, while SBIL is Money Market. They also come from different issuers: iShares and Simplify. Their fees differ too: 0.99% for IALT and 0.15% for SBIL.