LALT vs. IVV
LALT (First Trust Multi-Strategy Alternative ETF) and IVV (iShares Core S&P 500 ETF) are both exchange-traded funds - LALT is a Global Allocation fund actively managed by First Trust, while IVV is a S&P 500 fund tracking the S&P 500 Index. LALT is actively managed, while IVV is passively managed. Over the past 3 years, LALT returned 9.88%/yr vs 20.79%/yr for IVV. At a 0.37 correlation, their price movements are largely independent. LALT charges 1.94%/yr vs 0.03%/yr for IVV.
Performance
LALT vs. IVV - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with LALT having a 7.92% return and IVV slightly higher at 8.20%.
LALT
- 1D
- -0.81%
- 1M
- -2.82%
- YTD
- 7.92%
- 6M
- 7.36%
- 1Y
- 18.12%
- 3Y*
- 9.88%
- 5Y*
- —
- 10Y*
- —
IVV
- 1D
- -1.42%
- 1M
- -1.34%
- YTD
- 8.20%
- 6M
- 7.25%
- 1Y
- 23.72%
- 3Y*
- 20.79%
- 5Y*
- 13.13%
- 10Y*
- 15.58%
LALT vs. IVV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
LALT First Trust Multi-Strategy Alternative ETF | 7.92% | 10.79% | 8.77% | 0.88% |
IVV iShares Core S&P 500 ETF | 8.20% | 17.85% | 24.93% | 18.85% |
Correlation
The correlation between LALT and IVV is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2023 | 0.37 |
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Return for Risk
LALT vs. IVV — Risk / Return Rank
LALT
IVV
LALT vs. IVV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Multi-Strategy Alternative ETF (LALT) and iShares Core S&P 500 ETF (IVV). 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.
| LALT | IVV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.66 | ||
| Sortino ratioReturn per unit of downside risk | +0.96 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.35 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 5.53 | 2.68 | +2.85 |
| Martin ratioReturn relative to average drawdown | 20.49 | 11.98 | +8.51 |
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Drawdowns
LALT vs. IVV - Drawdown Comparison
The maximum LALT drawdown since its inception was -6.97%, smaller than the maximum IVV drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for LALT and IVV.
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Drawdown Indicators
| LALT | IVV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.97% | -55.25% | +48.28% |
Max Drawdown (1Y)Largest decline over 1 year | -3.29% | -8.89% | +5.60% |
Max Drawdown (3Y)Largest decline over 3 years | -6.97% | -18.75% | +11.78% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.53% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.90% | — |
Current DrawdownCurrent decline from peak | -3.29% | -3.14% | -0.15% |
Average DrawdownAverage peak-to-trough decline | -1.00% | -10.76% | +9.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 1.99% | -1.10% |
Volatility
LALT vs. IVV - Volatility Comparison
The current volatility for First Trust Multi-Strategy Alternative ETF (LALT) is 2.07%, while iShares Core S&P 500 ETF (IVV) has a volatility of 4.88%. This indicates that LALT experiences smaller price fluctuations and is considered to be less risky than IVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LALT | IVV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.07% | 4.88% | -2.81% |
Volatility (6M)Calculated over the trailing 6-month period | 5.68% | 9.85% | -4.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.08% | 12.48% | -5.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.83% | 16.98% | -11.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.83% | 18.07% | -12.24% |
LALT vs. IVV - Expense Ratio Comparison
LALT has a 1.94% expense ratio, which is higher than IVV's 0.03% expense ratio.
Dividends
LALT vs. IVV - Dividend Comparison
LALT's dividend yield for the trailing twelve months is around 3.78%, more than IVV's 1.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IVV iShares Core S&P 500 ETF | 1.11% | 1.17% | 1.30% | 1.44% | 1.66% | 1.20% | 1.57% | 1.85% | 2.21% | 1.75% | 2.01% | 2.27% |
LALT First Trust Multi-Strategy Alternative ETF | 3.78% | 2.03% | 2.06% | 2.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
LALT and IVV have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IVV has higher volatility (4.88%) compared to LALT (2.07%). In terms of maximum drawdown, LALT dropped -6.97% vs IVV's -55.25%.
On 3-year performance, IVV leads with 20.79% vs 9.88% for LALT. On fees, IVV is cheaper at 0.03% per year. On volatility, LALT has been the lower-risk option at 2.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IVV has performed better with a 20.79% return vs 9.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVV is cheaper with a 0.03% expense ratio, compared with 1.94% for LALT.
LALT has the higher dividend yield at 3.78%, compared with 1.11% for IVV.
LALT is categorized as Global Allocation, while IVV is S&P 500. They also come from different issuers: First Trust and iShares. Their fees differ too: 1.94% for LALT and 0.03% for IVV.
LALT currently has the higher Sharpe Ratio (2.58 vs 1.91), 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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