TSYW vs. LALT

Last updated Jun 25, 2026

TSYW (Roundhill Treasury Bond WeeklyPay ETF) and LALT (First Trust Multi-Strategy Alternative ETF) are both exchange-traded funds - TSYW is a Leveraged Bonds fund actively managed by Roundhill, while LALT is a Global Allocation fund actively managed by First Trust. Both are actively managed. At a correlation of -0.10, they often move in opposite directions. TSYW charges 0.99%/yr vs 1.94%/yr for LALT.

Performance

TSYW vs. LALT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Treasury Bond WeeklyPay ETF (TSYW) 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, TSYW achieves a 0.62% return, which is significantly lower than LALT's 7.83% return.

TSYW

• 1D: 1.71%
• 1M: 4.24%
• YTD: 0.62%
• 6M: -0.50%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

LALT

• 1D: -0.08%
• 1M: -2.90%
• YTD: 7.83%
• 6M: 7.48%
• 1Y: 18.33%
• 3Y*: 9.85%
• 5Y*: —
• 10Y*: —

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

TSYW vs. LALT - Yearly Performance Comparison

	2026 (YTD)	2025
TSYW Roundhill Treasury Bond WeeklyPay ETF	0.62%	-3.37%
LALT First Trust Multi-Strategy Alternative ETF	7.83%	-0.54%

Correlation

The correlation between TSYW and LALT is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 13, 2025	-0.10

Return for Risk

TSYW vs. LALT — Risk / Return Rank

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

TSYW

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

LALT

LALT Risk / Return Rank: 90
LALT Sharpe Ratio Rank: 89
LALT Sortino Ratio Rank: 89
LALT Omega Ratio Rank: 89
LALT Calmar Ratio Rank: 92
LALT Martin Ratio Rank: 92

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.

TSYW vs. LALT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Treasury Bond WeeklyPay ETF (TSYW) 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.

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.

	TSYW	LALT	Difference
Sharpe ratio: Return per unit of total volatility	—	2.61	—
Sortino ratio: Return per unit of downside risk	—	3.60	—
Omega ratio: Gain probability vs. loss probability	—	1.50	—
Calmar ratio: Return relative to maximum drawdown	—	5.46	—
Martin ratio: Return relative to average drawdown	—	20.16	—

Drawdowns

TSYW vs. LALT - Drawdown Comparison

The maximum TSYW drawdown since its inception was -9.79%, which is greater than LALT's maximum drawdown of -6.97%. Use the drawdown chart below to compare losses from any high point for TSYW and LALT.

Drawdown Indicators

	TSYW	LALT	Difference
Max Drawdown Largest peak-to-trough decline	-9.79%	-6.97%	-2.82%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.37%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-6.97%	—
Current Drawdown Current decline from peak	-3.87%	-3.37%	-0.50%
Average Drawdown Average peak-to-trough decline	-4.17%	-1.00%	-3.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.91%	—

Volatility

Volatility by Period

	TSYW	LALT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.06%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.67%	—
Volatility (1Y) Calculated over the trailing 1-year period	10.92%	7.07%	+3.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.92%	5.83%	+5.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.92%	5.83%	+5.09%

TSYW vs. LALT - Expense Ratio Comparison

TSYW has a 0.99% expense ratio, which is lower than LALT's 1.94% expense ratio.

Dividends

TSYW vs. LALT - Dividend Comparison

TSYW's dividend yield for the trailing twelve months is around 8.05%, more than LALT's 3.78% yield.

Position	TTM	2025	2024	2023
LALT First Trust Multi-Strategy Alternative ETF	3.78%	2.03%	2.06%	2.44%
TSYW Roundhill Treasury Bond WeeklyPay ETF	8.05%	1.63%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TSYW and LALT in my portfolio?

TSYW and LALT have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TSYW or LALT?

On fees, TSYW is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TSYW or LALT?

TSYW is cheaper with a 0.99% expense ratio, compared with 1.94% for LALT.

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

TSYW has the higher dividend yield at 8.05%, compared with 3.78% for LALT.

What is the main difference between TSYW and LALT?

TSYW is categorized as Leveraged Bonds, while LALT is Global Allocation. They also come from different issuers: Roundhill and First Trust. Their fees differ too: 0.99% for TSYW and 1.94% for LALT.