{"url":"https://etfiq.com/compare/alternatives/hfnd-vs-lalt","section":"compare","title":"HFND vs LALT: Correlation to the S&P 500 | ETFIQ","description":"HFND and LALT both run multi-strategy strategies. Over the year to Nov 4, 2026, HFND had a correlation of +0.82 with the S&P 500 and LALT +0.34.","as_of":"Nov 4, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which moved less with the S&P 500, HFND or LALT?","acceptedAnswer":{"@type":"Answer","text":"Over the 52 weeks to Nov 4, 2026, HFND\u2019s weekly returns had a correlation of +0.82 with the S&P 500 and LALT\u2019s +0.34, so LALT moved less with the index."}},{"@type":"Question","name":"Which did better when the S&P 500 fell, HFND or LALT?","acceptedAnswer":{"@type":"Answer","text":"In the 26 weeks the S&P 500 fell, by 1.07% a week on average, HFND averaged \u22120.82% and LALT \u22120.10%, so LALT returned more in those weeks."}},{"@type":"Question","name":"Which earned more than cash, HFND or LALT?","acceptedAnswer":{"@type":"Answer","text":"Over the same weeks, HFND finished 0.1 percentage points behind cash and LALT finished 8.0 percentage points ahead of cash. Cash here is BIL, a fund of Treasury bills."}},{"@type":"Question","name":"Which is cheaper, HFND or LALT?","acceptedAnswer":{"@type":"Answer","text":"HFND charges 1.07% a year and LALT charges 1.18%, so HFND is cheaper. Fees come from each fund's prospectus."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Alternatives ETFs","item":"https://etfiq.com/alternatives/"},{"@type":"ListItem","position":3,"name":"Compare ETFs","item":"https://etfiq.com/compare/"},{"@type":"ListItem","position":4,"name":"HFND vs LALT","item":"https://etfiq.com/compare/alternatives/hfnd-vs-lalt"}]},{"@type":"WebPage","name":"HFND vs LALT: Correlation to the S&P 500","description":"HFND and LALT both run multi-strategy strategies. Over the year to Nov 4, 2026, HFND had a correlation of +0.82 with the S&P 500 and LALT +0.34.","url":"https://etfiq.com/compare/alternatives/hfnd-vs-lalt","dateModified":"2026-11-04","abstract":"Over the year to Nov 4, 2026, LALT moved less with the S&P 500 than HFND: correlation +0.34 against +0.82.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of HFND and LALT","description":"HFND and LALT both run multi-strategy strategies. Over the year to Nov 4, 2026, HFND had a correlation of +0.82 with the S&P 500 and LALT +0.34.","dateModified":"2026-11-04","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/alternatives/hfnd-vs-lalt","license":"https://etfiq.com/license/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/alternatives.json"}],"variableMeasured":["Correlation with the S&P 500","Beta to the S&P 500","Down-week capture","Average week when the S&P 500 fell","Return against T-bills","Total return","Strategy","Expense ratio"],"keywords":["exchange-traded funds","ETF","Alternatives ETFs","fund data","SEC filings"]}],"characters":6438,"truncated":true,"content":"ETFIQ / Alternatives ETFs / Compare ETFs / HFND vs LALT \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Nov 4, 2026 .\n\n HFND vs LALT: Correlation to the S&P 500\n\n Over the year to Nov 4, 2026, LALT moved less with the S&P 500 than HFND: correlation +0.34 against +0.82.\n Copy this for sharing \n \n HFND costs 0.11 points a year less; their one-year returns differ by 8.8 points.\n HFND and LALT at a glance. As of Nov 4, 2026. Source: ETFIQ. HFND LALT \n Expense ratio 1.07% 1.18% \n Net assets, HFND as of Aug 31, 2026 and LALT as of Nov 3, 2026 $39m $442m \n Total return, 1 year +3.2% +12.0% \n H","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","license_text":"Data ETFIQ computes is free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, HFND against LALT, data as of Nov 4, 2026. https://etfiq.com/compare/alternatives/hfnd-vs-lalt","a":{"ticker":"HFND","name":"Unlimited HFND Multi-Strategy Return Tracker ETF","issuer":"Unlimited","desk":"alternatives","as_of":"2026-11-04","verdict":"Over the year to Nov 4, 2026, HFND returned 3.2%. When the S&P 500 fell, it fell 76% as much.","url":"https://etfiq.com/funds/hfnd","key_facts":[{"label":"Correlation with the S&P 500","value":"+0.82","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Beta to the S&P 500","value":"+0.58","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Down-week capture","value":"76.4%","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Against T-bills, 52 weeks","value":"\u22120.1 pts","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"12-month yield, capital gains included, on its starting price","value":"4.8%","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices and distributions"},{"label":"Last payment (paid annually), ex-date Dec 24, 2025","value":"$1.1454","as_of":"2025-12-24","source":"Tiingo end-of-day distributions"},{"label":"Net assets","value":"$39m","as_of":"2026-08-31","source":"SEC N-PORT, whole fund, as filed for Aug 31, 2026"},{"label":"Expense ratio","value":"1.07%","as_of":"2025-12-23","source":"485BPOS XBRL, Dec 23, 2025"}]},"b":{"ticker":"LALT","name":"First Trust Multi-Strategy Alternative ETF","issuer":"First Trust","desk":"alternatives","as_of":"2026-11-04","verdict":"Over the year to Nov 4, 2026, LALT returned 12.0%. When the S&P 500 fell, it fell 9% as much.","url":"https://etfiq.com/funds/lalt","key_facts":[{"label":"Correlation with the S&P 500","value":"+0.34","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Beta to the S&P 500","value":"+0.17","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Down-week capture","value":"8.9%","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Against T-bills, 52 weeks","value":"+8.0 pts","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"12-month yield, capital gains included, on its starting price","value":"4.3%","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices and distributions"},{"label":"Last payment (paid quarterly), ex-date Sep 24, 2026","value":"$0.0809","as_of":"2026-09-24","source":"Tiingo end-of-day distributions"},{"label":"Net assets","value":"$442m","as_of":"2026-11-03","source":"issuer page, as of Nov 3, 2026"},{"label":"Expense ratio","value":"1.18%","as_of":"2025-12-29","source":"485BPOS XBRL, Dec 29, 2025"}]},"overlap_pct":null,"overlap_note":"ETFIQ does not publish a holdings overlap for this pair. Either the funds are not compared on holdings, or one book is incomplete.","full_text_at":"https://etfiq.com/compare/alternatives/hfnd-vs-lalt"}