TOAK vs. QALT

Last updated Aug 4, 2026

TOAK (Twin Oak Short Horizon Absolute Return ETF) and QALT (SEI DBi Multi-Strategy Alternative ETF) are both Multistrategy funds. Both are actively managed. Their 0.02 correlation means their historical movements had little consistent relationship. TOAK charges 0.25%/yr vs 0.80%/yr for QALT.

Performance

TOAK vs. QALT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Twin Oak Short Horizon Absolute Return ETF (TOAK) and SEI DBi Multi-Strategy Alternative ETF (QALT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TOAK achieves a 1.97% return, which is significantly lower than QALT's 6.99% return.

TOAK

• 1D: -0.10%
• 1M: 0.35%
• 6M: 1.63%
• YTD: 1.97%
• 1Y: 3.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.91%

QALT

• 1D: -0.15%
• 1M: 0.68%
• 6M: 4.02%
• YTD: 6.99%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
QALT SEI DBi Multi-Strategy Alternative ETF	$646.82K	$495.56K	$313.10K
TOAK Twin Oak Short Horizon Absolute Return ETF	$407.58K	$352.71K	$397.14K

TOAK vs. QALT - Yearly Performance Comparison

	2026 (YTD)	2025
TOAK Twin Oak Short Horizon Absolute Return ETF	1.97%	1.47%
QALT SEI DBi Multi-Strategy Alternative ETF	6.99%	53.86%

Correlation

The correlation between TOAK and QALT is 0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 25, 2025	0.02

Return for Risk

TOAK vs. QALT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TOAK

TOAK Risk / Return Rank: 58
TOAK Sharpe Ratio Rank: 45
TOAK Sortino Ratio Rank: 48
TOAK Omega Ratio Rank: 96
TOAK Calmar Ratio Rank: 55
TOAK Martin Ratio Rank: 44

QALT

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TOAK vs. QALT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Twin Oak Short Horizon Absolute Return ETF (TOAK) and SEI DBi Multi-Strategy Alternative ETF (QALT). 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.

	TOAK	QALT	Difference
Sharpe ratio: Return per unit of total volatility	1.23	—	—
Sortino ratio: Return per unit of downside risk	1.86	—	—
Omega ratio: Gain probability vs. loss probability	1.64	—	—
Calmar ratio: Return relative to maximum drawdown	2.13	—	—
Martin ratio: Return relative to average drawdown	5.30	—	—

Drawdowns

TOAK vs. QALT - Drawdown Comparison

The maximum TOAK drawdown since its inception was -1.81%, smaller than the maximum QALT drawdown of -4.85%. Use the drawdown chart below to compare losses from any high point for TOAK and QALT.

Drawdown Indicators

	TOAK	QALT	Difference
Max Drawdown Largest peak-to-trough decline	-1.81%	-4.85%	+3.04%
Max Drawdown (1Y) Largest decline over 1 year	-1.81%	—	—
Current Drawdown Current decline from peak	-1.09%	-0.77%	-0.32%
Average Drawdown Average peak-to-trough decline	-0.21%	-1.22%	+1.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.73%	—	—

Volatility

Volatility by Period

	TOAK	QALT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.16%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.94%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.13%	48.73%	-45.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.27%	48.73%	-46.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.27%	48.73%	-46.46%

TOAK vs. QALT - Expense Ratio Comparison

TOAK has a 0.25% expense ratio, which is lower than QALT's 0.80% expense ratio.

Dividends

TOAK vs. QALT - Dividend Comparison

TOAK has not paid dividends to shareholders, while QALT's dividend yield for the trailing twelve months is around 6.02%.

Position	TTM	2025
QALT SEI DBi Multi-Strategy Alternative ETF	6.02%	5.15%
TOAK Twin Oak Short Horizon Absolute Return ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both TOAK and QALT in my portfolio?

TOAK and QALT 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 is better, TOAK or QALT?

On fees, TOAK is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TOAK or QALT?

TOAK is cheaper with a 0.25% expense ratio, compared with 0.80% for QALT.

Which ETF pays a higher dividend yield, TOAK or QALT?

QALT has the higher dividend yield at 6.02%, compared with 0.00% for TOAK.

What is the main difference between TOAK and QALT?

They also come from different issuers: Twin Oak and SEI. Their fees differ too: 0.25% for TOAK and 0.80% for QALT.