LALT vs. NMBL

Last updated Jun 24, 2026

LALT (First Trust Multi-Strategy Alternative ETF) and NMBL (NovaTide Flexible Allocation ETF) are both Global Allocation funds. Both are actively managed. At a 0.40 correlation, their price movements are largely independent. LALT charges 1.94%/yr vs 1.99%/yr for NMBL.

Performance

LALT vs. NMBL - Performance Comparison

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

Returns By Period

In the year-to-date period, LALT achieves a 7.92% return, which is significantly higher than NMBL's 3.38% return.

LALT

• 1D: -0.81%
• 1M: -2.82%
• YTD: 7.92%
• 6M: 7.36%
• 1Y: 18.12%
• 3Y*: 9.88%
• 5Y*: —
• 10Y*: —

NMBL

• 1D: -1.08%
• 1M: -0.95%
• YTD: 3.38%
• 6M: 2.21%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LALT vs. NMBL - Yearly Performance Comparison

	2026 (YTD)	2025
LALT First Trust Multi-Strategy Alternative ETF	7.92%	0.73%
NMBL NovaTide Flexible Allocation ETF	3.38%	-0.27%

Correlation

The correlation between LALT and NMBL is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 31, 2025	0.40

Return for Risk

LALT vs. NMBL — Risk / Return Rank

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

LALT

LALT Risk / Return Rank: 88
LALT Sharpe Ratio Rank: 85
LALT Sortino Ratio Rank: 85
LALT Omega Ratio Rank: 86
LALT Calmar Ratio Rank: 91
LALT Martin Ratio Rank: 91

NMBL

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

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. NMBL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Multi-Strategy Alternative ETF (LALT) and NovaTide Flexible Allocation ETF (NMBL). 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	NMBL	Difference
Sharpe ratio: Return per unit of total volatility	2.58	—	—
Sortino ratio: Return per unit of downside risk	3.56	—	—
Omega ratio: Gain probability vs. loss probability	1.49	—	—
Calmar ratio: Return relative to maximum drawdown	5.53	—	—
Martin ratio: Return relative to average drawdown	20.49	—	—

Drawdowns

LALT vs. NMBL - Drawdown Comparison

The maximum LALT drawdown since its inception was -6.97%, smaller than the maximum NMBL drawdown of -8.05%. Use the drawdown chart below to compare losses from any high point for LALT and NMBL.

Drawdown Indicators

	LALT	NMBL	Difference
Max Drawdown Largest peak-to-trough decline	-6.97%	-8.05%	+1.08%
Max Drawdown (1Y) Largest decline over 1 year	-3.29%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-6.97%	—	—
Current Drawdown Current decline from peak	-3.29%	-3.93%	+0.64%
Average Drawdown Average peak-to-trough decline	-1.00%	-2.04%	+1.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.89%	—	—

Volatility

Volatility by Period

	LALT	NMBL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.07%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.68%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	7.08%	13.46%	-6.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.83%	13.46%	-7.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.83%	13.46%	-7.63%

LALT vs. NMBL - Expense Ratio Comparison

LALT has a 1.94% expense ratio, which is lower than NMBL's 1.99% expense ratio.

Dividends

LALT vs. NMBL - Dividend Comparison

LALT's dividend yield for the trailing twelve months is around 3.78%, more than NMBL's 0.90% yield.

Position	TTM	2025	2024	2023
LALT First Trust Multi-Strategy Alternative ETF	3.78%	2.03%	2.06%	2.44%
NMBL NovaTide Flexible Allocation ETF	0.90%	0.93%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LALT and NMBL in my portfolio?

LALT and NMBL have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LALT or NMBL?

On fees, LALT is cheaper at 1.94% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LALT or NMBL?

LALT is cheaper with a 1.94% expense ratio, compared with 1.99% for NMBL.

Which ETF pays a higher dividend yield, LALT or NMBL?

LALT has the higher dividend yield at 3.78%, compared with 0.90% for NMBL.

What is the main difference between LALT and NMBL?

They also come from different issuers: First Trust and NovaTide. Their fees differ too: 1.94% for LALT and 1.99% for NMBL.