Data as of .
LALT vs QALT: which moved less with stocks?
Over the year to Sep 18, 2026, LALT moved less with the S&P 500 than QALT: correlation +0.24 against +0.45.
ETFIQ Diversifier Score: LALT scores higher
How much does it diversify a stock portfolio?
A percentile among the 63 alternatives ETFs with a full year. It is a position in a set, not a rating, and neither end of it is a recommendation. All alternatives ETFs ranked by it · How it is computed
One strategy, two funds
LALT and QALT both run a multi-strategy strategy. Over the same 52 weeks to Sep 18, 2026, LALT’s weekly returns had a correlation of +0.24 with the S&P 500 and QALT’s +0.45. In the 22 weeks the index fell, by 1.24% a week on average, LALT averaged +0.18% and QALT −0.26%. Over the same weeks, LALT finished 11.6 percentage points ahead of cash and QALT finished 5.6 points ahead of cash.
Performance, window by window
| Window | Total return | vs the S&P 500 | ||
|---|---|---|---|---|
| LALT | QALT | LALT | QALT | |
| 3 months | +2.9% | −1.2% | +0.7 pts | −3.5 pts |
| 6 months | +3.6% | +4.3% | −14.4 pts | −13.7 pts |
| 1 year | +15.3% | +9.1% | −1.2 pts | −7.5 pts |
| 3 years | +32.8% | not published | −45.6 pts | not published |
| Since launch | +36.0% | +10.9% | −58.4 pts | −9.2 pts |
| LALT First Trust Multi-Strategy Alternative ETF Multi-strategy fund: runs several alternative strategies at once, or aims to return what hedge funds as a group return | QALT SEI DBi Multi-Strategy Alternative ETF Multi-strategy fund: runs several alternative strategies at once, or aims to return what hedge funds as a group return | |
|---|---|---|
| Issuer | First Trust | SEI |
| Strategy | Multi-strategy | Multi-strategy |
| Correlation with the S&P 500 | +0.24 | +0.45 |
| Beta to the S&P 500 | +0.11 | +0.25 |
| Down-week capture | −14.9% | 21.1% |
| Average week when the S&P 500 fell | +0.18% | −0.26% |
| The S&P 500 in those weeks | −1.24% | −1.24% |
| Total return, same 52 weeks | +15.2% | +9.2% |
| Against T-bills, percentage points | +11.6 pts | +5.6 pts |
| Expense ratio | 1.18% | 0.80% |
| Listed | Feb 1, 2023 | Aug 25, 2025 |
| Net assets | $389m | $194m |
LALT in plain words
LALT is a multi-strategy fund. ETFIQ measures what every alternatives fund is sold on: whether it moves differently from the stock market. Over the year to Sep 18, 2026, its weekly returns had a correlation of +0.24 with the S&P 500’s and a beta of +0.11, so for each 1% the index moved it moved about 0.11% the same way. The S&P 500 fell in 22 of those 52 weeks, by 1.24% on average. In the same weeks LALT rose 0.18% on average, a down-week capture of −14.9%. Over the same 52 weeks LALT returned +15.2% and a Treasury bill fund +3.6%, so it finished 11.6 percentage points ahead of cash.
QALT in plain words
QALT is a multi-strategy fund. Over the year to Sep 18, 2026, its weekly returns had a correlation of +0.45 with the S&P 500’s and a beta of +0.25, so for each 1% the index moved it moved about 0.25% the same way. In the same weeks QALT fell 0.26% on average, a down-week capture of 21.1%. Over the same 52 weeks QALT returned +9.2% and a Treasury bill fund +3.6%, so it finished 5.6 percentage points ahead of cash.
Questions people ask
- Which moved less with the S&P 500, LALT or QALT?
- Over the 52 weeks to Sep 18, 2026, LALT’s weekly returns had a correlation of +0.24 with the S&P 500 and QALT’s +0.45, so LALT moved less with the index.
- Which did better when the S&P 500 fell, LALT or QALT?
- In the 22 weeks the S&P 500 fell, by 1.24% a week on average, LALT averaged +0.18% and QALT −0.26%, so LALT returned more in those weeks.
- Which earned more than cash, LALT or QALT?
- Over the same weeks, LALT finished 11.6 percentage points ahead of cash and QALT finished 5.6 percentage points ahead of cash. Cash here is BIL, a fund of Treasury bills.
- Which is cheaper, LALT or QALT?
- LALT charges 1.18% a year and QALT charges 0.80%, so QALT is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, LALT against QALT, data as of Sep 18, 2026. https://etfiq.com/compare/alternatives/lalt-vs-qalt Free to use with attribution; the underlying files are at Open data.