IALT vs. XOP
IALT (iShares Systematic Alternatives Active ETF) and XOP (SPDR S&P Oil & Gas Exploration & Production ETF) are both exchange-traded funds - IALT is a Multistrategy fund actively managed by iShares, while XOP is a Energy Equities fund tracking the S&P Oil & Gas Exploration & Production Select Industry. IALT is actively managed, while XOP is passively managed. Their -0.03 correlation means they have often moved in opposite directions in the past. IALT charges 0.99%/yr vs 0.35%/yr for XOP.
Performance
IALT vs. XOP - Performance Comparison
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Returns By Period
In the year-to-date period, IALT achieves a 13.85% return, which is significantly lower than XOP's 39.27% return.
IALT
- 1D
- 0.21%
- 1M
- 2.39%
- 6M
- 11.00%
- YTD
- 13.85%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
XOP
- 1D
- -1.76%
- 1M
- 12.70%
- 6M
- 29.52%
- YTD
- 39.27%
- 1Y
- 44.16%
- 3Y*
- 9.05%
- 5Y*
- 19.96%
- 10Y*
- 4.18%
- ALL TIME*
- 2.59%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $40.45M | $35.41M | $114.47M | |
| $549.60M | $554.39M | $593.33M |
IALT vs. XOP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IALT iShares Systematic Alternatives Active ETF | 13.85% | 0.83% |
XOP SPDR S&P Oil & Gas Exploration & Production ETF | 39.27% | -5.48% |
Correlation
The correlation between IALT and XOP is -0.03, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 10, 2025 | -0.03 |
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Return for Risk
IALT vs. XOP — Risk / Return Rank
IALT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
XOP
IALT vs. XOP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Systematic Alternatives Active ETF (IALT) and SPDR S&P Oil & Gas Exploration & Production ETF (XOP). 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 | XOP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.26 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.40 | — |
| Martin ratioReturn relative to average drawdown | — | 5.80 | — |
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Drawdowns
IALT vs. XOP - Drawdown Comparison
The maximum IALT drawdown since its inception was -2.27%, smaller than the maximum XOP drawdown of -90.27%. Use the drawdown chart below to compare losses from any high point for IALT and XOP.
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Drawdown Indicators
| IALT | XOP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.27% | -90.27% | +88.00% |
Max Drawdown (1Y)Largest decline over 1 year | — | -18.50% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -34.98% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -34.98% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -82.61% | — |
Current DrawdownCurrent decline from peak | -0.55% | -34.91% | +34.36% |
Average DrawdownAverage peak-to-trough decline | -0.49% | -42.55% | +42.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 7.64% | — |
Volatility
IALT vs. XOP - Volatility Comparison
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Volatility by Period
| IALT | XOP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 8.64% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 22.60% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 8.01% | 28.35% | -20.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.01% | 33.53% | -25.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.01% | 40.15% | -32.14% |
IALT vs. XOP - Expense Ratio Comparison
IALT has a 0.99% expense ratio, which is higher than XOP's 0.35% expense ratio.
Dividends
IALT vs. XOP - Dividend Comparison
IALT's dividend yield for the trailing twelve months is around 0.39%, less than XOP's 1.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IALT iShares Systematic Alternatives Active ETF | 0.39% | 0.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XOP SPDR S&P Oil & Gas Exploration & Production ETF | 1.86% | 2.62% | 2.45% | 2.63% | 2.47% | 1.61% | 2.34% | 1.47% | 0.99% | 0.76% | 0.76% | 2.21% |
Frequently Asked Questions
IALT and XOP have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XOP is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XOP is cheaper with a 0.35% expense ratio, compared with 0.99% for IALT.
XOP has the higher dividend yield at 1.86%, compared with 0.39% for IALT.
IALT is categorized as Multistrategy, while XOP is Energy Equities. They also come from different issuers: iShares and State Street. Their fees differ too: 0.99% for IALT and 0.35% for XOP.
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