MKTN vs. IALT

Last updated Jun 23, 2026

MKTN (Federated Hermes MDT Market Neutral ETF) and IALT (iShares Systematic Alternatives Active ETF) are both exchange-traded funds - MKTN is a Long-Short fund actively managed by Federated Hermes, while IALT is a Multistrategy fund actively managed by iShares. Both are actively managed. At a correlation of -0.02, they often move in opposite directions.

Performance

MKTN vs. IALT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes MDT Market Neutral ETF (MKTN) and iShares Systematic Alternatives Active ETF (IALT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MKTN achieves a -0.17% return, which is significantly lower than IALT's 12.39% return.

MKTN

• 1D: 0.38%
• 1M: -0.42%
• YTD: -0.17%
• 6M: 0.06%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IALT

• 1D: 0.18%
• 1M: 0.94%
• YTD: 12.39%
• 6M: 12.32%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MKTN vs. IALT - Yearly Performance Comparison

	2026 (YTD)	2025
MKTN Federated Hermes MDT Market Neutral ETF	-0.17%	1.36%
IALT iShares Systematic Alternatives Active ETF	12.39%	0.83%

Correlation

The correlation between MKTN and IALT is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 10, 2025	-0.02

Return for Risk

MKTN vs. IALT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes MDT Market Neutral ETF (MKTN) and iShares Systematic Alternatives Active ETF (IALT). 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.

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

Drawdowns

MKTN vs. IALT - Drawdown Comparison

The maximum MKTN drawdown since its inception was -4.13%, which is greater than IALT's maximum drawdown of -2.27%. Use the drawdown chart below to compare losses from any high point for MKTN and IALT.

Drawdown Indicators

	MKTN	IALT	Difference
Max Drawdown Largest peak-to-trough decline	-4.13%	-2.27%	-1.86%
Current Drawdown Current decline from peak	-2.07%	-0.74%	-1.33%
Average Drawdown Average peak-to-trough decline	-1.20%	-0.38%	-0.82%

Volatility

Volatility by Period

	MKTN	IALT	Difference
Volatility (1Y) Calculated over the trailing 1-year period	6.75%	7.81%	-1.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.75%	7.81%	-1.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.75%	7.81%	-1.06%

Dividends

MKTN vs. IALT - Dividend Comparison

MKTN's dividend yield for the trailing twelve months is around 0.51%, more than IALT's 0.40% yield.

Position	TTM	2025
IALT iShares Systematic Alternatives Active ETF	0.40%	0.14%
MKTN Federated Hermes MDT Market Neutral ETF	0.51%	0.51%

Frequently Asked Questions

Can I hold both MKTN and IALT in my portfolio?

MKTN and IALT have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF pays a higher dividend yield, MKTN or IALT?

MKTN has the higher dividend yield at 0.51%, compared with 0.40% for IALT.

What is the main difference between MKTN and IALT?

MKTN is categorized as Long-Short, while IALT is Multistrategy. They also come from different issuers: Federated Hermes and iShares.