NDOW vs. LALT

Last updated Jun 5, 2026

NDOW (Anydrus Advantage ETF) and LALT (First Trust Multi-Strategy Alternative ETF) are both Global Allocation funds. Both are actively managed. Over the past year, NDOW returned 19.61% vs 22.40% for LALT. At a 0.44 correlation, their price movements are largely independent. NDOW charges 2.15%/yr vs 1.94%/yr for LALT.

Performance

NDOW vs. LALT - Performance Comparison

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

Returns By Period

In the year-to-date period, NDOW achieves a 8.49% return, which is significantly lower than LALT's 11.01% return.

NDOW

• 1D: 0.17%
• 1M: 3.10%
• YTD: 8.49%
• 6M: 9.72%
• 1Y: 19.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

LALT

• 1D: 0.28%
• 1M: 0.28%
• YTD: 11.01%
• 6M: 10.55%
• 1Y: 22.40%
• 3Y*: 10.56%
• 5Y*: —
• 10Y*: —

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

NDOW vs. LALT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NDOW Anydrus Advantage ETF	8.49%	14.80%	-1.91%
LALT First Trust Multi-Strategy Alternative ETF	11.01%	10.79%	4.64%

Correlation

The correlation between NDOW and LALT is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (All Time) Calculated using the full available price history since May 15, 2024	0.44

The correlation between NDOW and LALT shifts across timeframes, from 0.33 (1 year) to 0.44 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NDOW vs. LALT — Risk / Return Rank

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

NDOW

NDOW Risk / Return Rank: 65
NDOW Sharpe Ratio Rank: 68
NDOW Sortino Ratio Rank: 69
NDOW Omega Ratio Rank: 68
NDOW Calmar Ratio Rank: 56
NDOW Martin Ratio Rank: 64

LALT

LALT Risk / Return Rank: 94
LALT Sharpe Ratio Rank: 92
LALT Sortino Ratio Rank: 93
LALT Omega Ratio Rank: 93
LALT Calmar Ratio Rank: 95
LALT Martin Ratio Rank: 95

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.

NDOW vs. LALT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Anydrus Advantage ETF (NDOW) and First Trust Multi-Strategy Alternative ETF (LALT). 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.

	NDOW	LALT	Difference
Sharpe ratio: Return per unit of total volatility	2.20	3.30	-1.10
Sortino ratio: Return per unit of downside risk	3.09	4.65	-1.56
Omega ratio: Gain probability vs. loss probability	1.40	1.65	-0.25
Calmar ratio: Return relative to maximum drawdown	2.75	7.84	-5.10
Martin ratio: Return relative to average drawdown	11.52	30.41	-18.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NDOW vs. LALT - Sharpe Ratio Comparison

The current NDOW Sharpe Ratio is 2.20, which is lower than the LALT Sharpe Ratio of 3.30. The chart below compares the historical Sharpe Ratios of NDOW and LALT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NDOW	LALT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.20	3.30	-1.10
Sharpe Ratio (All Time) Calculated using the full available price history	1.17	1.64	-0.47

Drawdowns

NDOW vs. LALT - Drawdown Comparison

The maximum NDOW drawdown since its inception was -8.76%, which is greater than LALT's maximum drawdown of -6.97%. Use the drawdown chart below to compare losses from any high point for NDOW and LALT.

Drawdown Indicators

	NDOW	LALT	Difference
Max Drawdown Largest peak-to-trough decline	-8.76%	-6.97%	-1.79%
Max Drawdown (1Y) Largest decline over 1 year	-7.17%	-2.87%	-4.30%
Max Drawdown (3Y) Largest decline over 3 years	—	-6.97%	—
Current Drawdown Current decline from peak	-0.45%	-0.52%	+0.07%
Average Drawdown Average peak-to-trough decline	-1.38%	-0.98%	-0.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.71%	0.74%	+0.97%

Volatility

NDOW vs. LALT - Volatility Comparison

Anydrus Advantage ETF (NDOW) has a higher volatility of 3.49% compared to First Trust Multi-Strategy Alternative ETF (LALT) at 1.26%. This indicates that NDOW's price experiences larger fluctuations and is considered to be riskier than LALT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NDOW	LALT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.49%	1.26%	+2.23%
Volatility (6M) Calculated over the trailing 6-month period	7.49%	5.40%	+2.09%
Volatility (1Y) Calculated over the trailing 1-year period	8.96%	6.81%	+2.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.84%	5.77%	+3.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.84%	5.77%	+3.07%

NDOW vs. LALT - Expense Ratio Comparison

NDOW has a 2.15% expense ratio, which is higher than LALT's 1.94% expense ratio.

Dividends

NDOW vs. LALT - Dividend Comparison

NDOW's dividend yield for the trailing twelve months is around 1.14%, less than LALT's 3.67% yield.

Position	TTM	2025	2024	2023
LALT First Trust Multi-Strategy Alternative ETF	3.67%	2.03%	2.06%	2.44%
NDOW Anydrus Advantage ETF	1.14%	1.24%	1.39%	0.00%

Frequently Asked Questions

Can I hold both NDOW and LALT in my portfolio?

NDOW and LALT have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NDOW or LALT?

NDOW has higher volatility (3.49%) compared to LALT (1.26%). In terms of maximum drawdown, NDOW dropped -8.76% vs LALT's -6.97%.

Which ETF is better, NDOW or LALT?

On 1-year performance, LALT leads with 22.40% vs 19.61% for NDOW. On fees, LALT is cheaper at 1.94% per year. On volatility, LALT has been the lower-risk option at 1.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NDOW or LALT?

Over the 1-year period, LALT has performed better with a 22.40% return vs 19.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NDOW or LALT?

LALT is cheaper with a 1.94% expense ratio, compared with 2.15% for NDOW.

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

LALT has the higher dividend yield at 3.67%, compared with 1.14% for NDOW.

What is the main difference between NDOW and LALT?

They also come from different issuers: Anydrus Capital and First Trust. Their fees differ too: 2.15% for NDOW and 1.94% for LALT.

Which has better risk-adjusted returns?

LALT currently has the higher Sharpe Ratio (3.30 vs 2.20), 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.