LALT vs. ENDW

Last updated Apr 1, 2026

Compare and contrast key facts about First Trust Multi-Strategy Alternative ETF (LALT) and Cambria Endowment Style ETF (ENDW).

LALT and ENDW are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. LALT is an actively managed fund by First Trust. It was launched on Jan 31, 2023. ENDW is an actively managed fund by Cambria. It was launched on Apr 9, 2025.

Performance

LALT vs. ENDW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Multi-Strategy Alternative ETF (LALT) and Cambria Endowment Style ETF (ENDW). The values are adjusted to include any dividend payments, if applicable.

LALT vs. ENDW - Yearly Performance Comparison

	2026 (YTD)	2025
LALT First Trust Multi-Strategy Alternative ETF	8.88%	13.68%
ENDW Cambria Endowment Style ETF	3.42%	30.77%

Returns By Period

In the year-to-date period, LALT achieves a 8.88% return, which is significantly higher than ENDW's 3.42% return.

LALT

• 1D: 0.49%
• 1M: 2.15%
• YTD: 8.88%
• 6M: 10.43%
• 1Y: 19.03%
• 3Y*: 9.91%
• 5Y*: —
• 10Y*: —

ENDW

• 1D: 1.81%
• 1M: -4.20%
• YTD: 3.42%
• 6M: 7.27%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LALT vs. ENDW - Expense Ratio Comparison

LALT has a 1.94% expense ratio, which is higher than ENDW's 0.29% expense ratio.

LALT

First Trust Multi-Strategy Alternative ETF

ENDW

Cambria Endowment Style ETF

Return for Risk

LALT vs. ENDW — Risk / Return Rank

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

LALT

LALT Risk / Return Rank: 95
LALT Sharpe Ratio Rank: 95
LALT Sortino Ratio Rank: 96
LALT Omega Ratio Rank: 95
LALT Calmar Ratio Rank: 93
LALT Martin Ratio Rank: 96

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.

LALT vs. ENDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Multi-Strategy Alternative ETF (LALT) and Cambria Endowment Style ETF (ENDW). 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	ENDW	Difference
Sharpe ratio Return per unit of total volatility	2.41	—	—
Sortino ratio Return per unit of downside risk	3.33	—	—
Omega ratio Gain probability vs. loss probability	1.47	—	—
Calmar ratio Return relative to maximum drawdown	3.54	—	—
Martin ratio Return relative to average drawdown	16.66	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	LALT	ENDW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.41	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.59	3.24	-1.65

Correlation

The correlation between LALT and ENDW is 0.33, 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

LALT vs. ENDW - Dividend Comparison

LALT's dividend yield for the trailing twelve months is around 3.74%, more than ENDW's 2.34% yield.

	TTM	2025	2024	2023
LALT First Trust Multi-Strategy Alternative ETF	3.74%	2.03%	2.06%	2.44%
ENDW Cambria Endowment Style ETF	2.34%	1.91%	0.00%	0.00%

Drawdowns

LALT vs. ENDW - Drawdown Comparison

The maximum LALT drawdown since its inception was -6.97%, which is greater than ENDW's maximum drawdown of -6.44%. Use the drawdown chart below to compare losses from any high point for LALT and ENDW.

Drawdown Indicators

	LALT	ENDW	Difference
Max Drawdown Largest peak-to-trough decline	-6.97%	-6.44%	-0.53%
Max Drawdown (1Y) Largest decline over 1 year	-5.51%	—	—
Current Drawdown Current decline from peak	-0.88%	-4.36%	+3.48%
Average Drawdown Average peak-to-trough decline	-1.02%	-0.82%	-0.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.18%	—	—

Volatility

Volatility by Period

	LALT	ENDW	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.91%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.94%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	7.95%	11.36%	-3.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.87%	11.36%	-5.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.87%	11.36%	-5.49%