LALT vs. QDSIX
LALT (First Trust Multi-Strategy Alternative ETF) and QDSIX (AQR Diversifying Strategies Fund) are both funds - LALT is a Global Allocation fund actively managed by First Trust, while QDSIX is a Multistrategy fund managed by AQR Funds. Over the past 3 years, LALT returned 9.88%/yr vs 12.64%/yr for QDSIX. At a 0.38 correlation, their price movements are largely independent. LALT charges 1.94%/yr vs 0.20%/yr for QDSIX.
Performance
LALT vs. QDSIX - Performance Comparison
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Returns By Period
In the year-to-date period, LALT achieves a 7.92% return, which is significantly higher than QDSIX's 5.50% return.
LALT
- 1D
- -0.81%
- 1M
- -2.82%
- YTD
- 7.92%
- 6M
- 7.36%
- 1Y
- 18.12%
- 3Y*
- 9.88%
- 5Y*
- —
- 10Y*
- —
QDSIX
- 1D
- 0.41%
- 1M
- 0.41%
- YTD
- 5.50%
- 6M
- 5.72%
- 1Y
- 13.96%
- 3Y*
- 12.64%
- 5Y*
- 11.53%
- 10Y*
- —
LALT vs. QDSIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
LALT First Trust Multi-Strategy Alternative ETF | 7.92% | 10.79% | 8.77% | 0.88% |
QDSIX AQR Diversifying Strategies Fund | 5.50% | 16.36% | 9.71% | 7.57% |
Correlation
The correlation between LALT and QDSIX is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2023 | 0.38 |
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Return for Risk
LALT vs. QDSIX — Risk / Return Rank
LALT
QDSIX
LALT vs. QDSIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Multi-Strategy Alternative ETF (LALT) and AQR Diversifying Strategies Fund (QDSIX). 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 | QDSIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.52 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 5.53 | 7.21 | -1.69 |
| Martin ratioReturn relative to average drawdown | 20.49 | 19.76 | +0.73 |
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Drawdowns
LALT vs. QDSIX - Drawdown Comparison
The maximum LALT drawdown since its inception was -6.97%, roughly equal to the maximum QDSIX drawdown of -7.06%. Use the drawdown chart below to compare losses from any high point for LALT and QDSIX.
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Drawdown Indicators
| LALT | QDSIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.97% | -7.06% | +0.09% |
Max Drawdown (1Y)Largest decline over 1 year | -3.29% | -1.96% | -1.33% |
Max Drawdown (3Y)Largest decline over 3 years | -6.97% | -6.90% | -0.07% |
Max Drawdown (5Y)Largest decline over 5 years | — | -7.06% | — |
Current DrawdownCurrent decline from peak | -3.29% | -0.94% | -2.35% |
Average DrawdownAverage peak-to-trough decline | -1.00% | -1.44% | +0.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 0.71% | +0.18% |
Volatility
LALT vs. QDSIX - Volatility Comparison
First Trust Multi-Strategy Alternative ETF (LALT) has a higher volatility of 2.07% compared to AQR Diversifying Strategies Fund (QDSIX) at 1.80%. This indicates that LALT's price experiences larger fluctuations and is considered to be riskier than QDSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LALT | QDSIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.07% | 1.80% | +0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 5.68% | 3.66% | +2.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.08% | 5.14% | +1.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.83% | 7.62% | -1.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.83% | 7.31% | -1.48% |
LALT vs. QDSIX - Expense Ratio Comparison
LALT has a 1.94% expense ratio, which is higher than QDSIX's 0.20% expense ratio.
Dividends
LALT vs. QDSIX - Dividend Comparison
LALT's dividend yield for the trailing twelve months is around 3.78%, more than QDSIX's 2.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
LALT First Trust Multi-Strategy Alternative ETF | 3.78% | 2.03% | 2.06% | 2.44% | 0.00% | 0.00% | 0.00% |
QDSIX AQR Diversifying Strategies Fund | 2.12% | 2.23% | 0.00% | 11.35% | 8.22% | 6.07% | 1.93% |
Frequently Asked Questions
LALT and QDSIX have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LALT has higher volatility (2.07%) compared to QDSIX (1.80%). In terms of maximum drawdown, LALT dropped -6.97% vs QDSIX's -7.06%.
QDSIX currently has the higher Sharpe Ratio (2.75 vs 2.58), 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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