IBTI vs. QALT

Last updated Aug 5, 2026

IBTI (iShares iBonds Dec 2028 Term Treasury ETF) and QALT (SEI DBi Multi-Strategy Alternative ETF) are both exchange-traded funds - IBTI is a Government Bonds fund tracking the ICE 2028 Maturity US Treasury Index, while QALT is a Multistrategy fund actively managed by SEI. IBTI is passively managed, while QALT is actively managed. Their -0.04 correlation means they have often moved in opposite directions in the past. IBTI charges 0.07%/yr vs 0.80%/yr for QALT.

Performance

IBTI vs. QALT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2028 Term Treasury ETF (IBTI) 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, IBTI achieves a 0.82% return, which is significantly lower than QALT's 7.50% return.

IBTI

• 1D: 0.16%
• 1M: 0.22%
• 6M: 0.72%
• YTD: 0.82%
• 1Y: 2.67%
• 3Y*: 4.13%
• 5Y*: -0.06%
• 10Y*: —
• ALL TIME*: 0.33%

QALT

• 1D: 0.47%
• 1M: 1.15%
• 6M: 4.14%
• YTD: 7.50%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IBTI iShares iBonds Dec 2028 Term Treasury ETF	$9.92M	$10.63M	$9.25M
QALT SEI DBi Multi-Strategy Alternative ETF	$538.99K	$483.24K	$312.84K

IBTI vs. QALT - Yearly Performance Comparison

	2026 (YTD)	2025
IBTI iShares iBonds Dec 2028 Term Treasury ETF	0.82%	1.62%
QALT SEI DBi Multi-Strategy Alternative ETF	7.50%	53.86%

Correlation

The correlation between IBTI and QALT is -0.04, 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 Aug 25, 2025	-0.04

Return for Risk

IBTI vs. QALT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IBTI

IBTI Risk / Return Rank: 66
IBTI Sharpe Ratio Rank: 67
IBTI Sortino Ratio Rank: 73
IBTI Omega Ratio Rank: 69
IBTI Calmar Ratio Rank: 61
IBTI Martin Ratio Rank: 58

QALT

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IBTI vs. QALT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2028 Term Treasury ETF (IBTI) 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.

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.

	IBTI	QALT	Difference
Sharpe ratio: Return per unit of total volatility	1.76	—	—
Sortino ratio: Return per unit of downside risk	2.66	—	—
Omega ratio: Gain probability vs. loss probability	1.33	—	—
Calmar ratio: Return relative to maximum drawdown	2.44	—	—
Martin ratio: Return relative to average drawdown	7.70	—	—

Drawdowns

IBTI vs. QALT - Drawdown Comparison

The maximum IBTI drawdown since its inception was -18.45%, which is greater than QALT's maximum drawdown of -4.85%. Use the drawdown chart below to compare losses from any high point for IBTI and QALT.

Drawdown Indicators

	IBTI	QALT	Difference
Max Drawdown Largest peak-to-trough decline	-18.45%	-4.85%	-13.60%
Max Drawdown (1Y) Largest decline over 1 year	-1.10%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-2.81%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.72%	—	—
Current Drawdown Current decline from peak	-3.42%	-0.31%	-3.11%
Average Drawdown Average peak-to-trough decline	-8.13%	-1.22%	-6.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.35%	—	—

Volatility

Volatility by Period

	IBTI	QALT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.39%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.15%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.52%	48.63%	-47.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.97%	48.63%	-43.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.11%	48.63%	-43.52%

IBTI vs. QALT - Expense Ratio Comparison

IBTI has a 0.07% expense ratio, which is lower than QALT's 0.80% expense ratio.

Dividends

IBTI vs. QALT - Dividend Comparison

IBTI's dividend yield for the trailing twelve months is around 3.77%, less than QALT's 6.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
IBTI iShares iBonds Dec 2028 Term Treasury ETF	3.77%	3.87%	3.92%	3.27%	1.70%	0.90%	0.56%
QALT SEI DBi Multi-Strategy Alternative ETF	6.00%	5.15%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBTI and QALT in my portfolio?

IBTI and QALT have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IBTI or QALT?

On fees, IBTI is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBTI or QALT?

IBTI is cheaper with a 0.07% expense ratio, compared with 0.80% for QALT.

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

QALT has the higher dividend yield at 6.00%, compared with 3.77% for IBTI.

What is the main difference between IBTI and QALT?

IBTI is categorized as Government Bonds, while QALT is Multistrategy. They also come from different issuers: iShares and SEI. Their fees differ too: 0.07% for IBTI and 0.80% for QALT.