LALT vs. ^GSPC
LALT (First Trust Multi-Strategy Alternative ETF) is Global Allocation fund actively managed by First Trust, while ^GSPC (S&P 500 Index) is an index. Over the past 3 years, LALT returned 10.48%/yr vs 20.83%/yr for ^GSPC. At a 0.36 correlation, their price movements are largely independent.
Performance
LALT vs. ^GSPC - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with LALT having a 10.70% return and ^GSPC slightly lower at 10.35%.
LALT
- 1D
- -0.44%
- 1M
- -0.12%
- YTD
- 10.70%
- 6M
- 10.50%
- 1Y
- 22.25%
- 3Y*
- 10.48%
- 5Y*
- —
- 10Y*
- —
^GSPC
- 1D
- -0.74%
- 1M
- 4.90%
- YTD
- 10.35%
- 6M
- 10.28%
- 1Y
- 26.52%
- 3Y*
- 20.83%
- 5Y*
- 12.30%
- 10Y*
- 13.66%
LALT vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
LALT First Trust Multi-Strategy Alternative ETF | 10.70% | 10.79% | 8.77% | 0.88% |
^GSPC S&P 500 Index | 10.35% | 16.39% | 23.31% | 15.79% |
Correlation
The correlation between LALT and ^GSPC is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2023 | 0.36 |
The correlation between LALT and ^GSPC shifts across timeframes, from 0.22 (1 year) to 0.36 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
LALT vs. ^GSPC — Risk / Return Rank
LALT
^GSPC
LALT vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Multi-Strategy Alternative ETF (LALT) and S&P 500 Index (^GSPC). 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.
| LALT | ^GSPC | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.28 | 2.24 | +1.04 |
Sortino ratioReturn per unit of downside risk | 4.62 | 3.07 | +1.55 |
Omega ratioGain probability vs. loss probability | 1.65 | 1.41 | +0.24 |
Calmar ratioReturn relative to maximum drawdown | 7.79 | 2.93 | +4.86 |
Martin ratioReturn relative to average drawdown | 30.25 | 13.52 | +16.73 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| LALT | ^GSPC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.28 | 2.24 | +1.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.73 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.76 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.62 | 0.47 | +1.15 |
Drawdowns
LALT vs. ^GSPC - Drawdown Comparison
The maximum LALT drawdown since its inception was -6.97%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for LALT and ^GSPC.
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Drawdown Indicators
| LALT | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.97% | -56.78% | +49.81% |
Max Drawdown (1Y)Largest decline over 1 year | -2.87% | -9.10% | +6.23% |
Max Drawdown (3Y)Largest decline over 3 years | -6.97% | -18.90% | +11.93% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.80% | -0.74% | -0.06% |
Average DrawdownAverage peak-to-trough decline | -0.98% | -10.72% | +9.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.74% | 1.97% | -1.23% |
Volatility
LALT vs. ^GSPC - Volatility Comparison
The current volatility for First Trust Multi-Strategy Alternative ETF (LALT) is 1.23%, while S&P 500 Index (^GSPC) has a volatility of 2.93%. This indicates that LALT experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LALT | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.23% | 2.93% | -1.70% |
Volatility (6M)Calculated over the trailing 6-month period | 5.40% | 8.99% | -3.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.81% | 11.89% | -5.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.78% | 16.90% | -11.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.78% | 18.06% | -12.28% |
Frequently Asked Questions
LALT and ^GSPC have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
^GSPC has higher volatility (2.93%) compared to LALT (1.23%). In terms of maximum drawdown, LALT dropped -6.97% vs ^GSPC's -56.78%.
LALT currently has the higher Sharpe Ratio (3.28 vs 2.24), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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