Data as of Sep 13, 2026. Both funds on the fields they both publish, from the same sources.
IALT vs SPY: how they differ
IALT and SPY hold 0% of their weight in the same names.
iShares Systematic Alternatives Active ETF and SPDR S&P 500 ETF Trust.
What they hold in common
By the books each fund has filed, IALT and SPY hold 0% of their money in the same securities at the same weight.
| Only in IALT | Only in SPY |
|---|---|
| Intercontinental Exchange, Inc. 17.26% | NVIDIA CORP 8.08% |
| PRIME SECSRVC BRW/FINANC 1.29% | APPLE INC 7.33% |
| PHINIA INC 0.94% | MICROSOFT CORP 5.59% |
| DISH DBS CORP 0.21% | AMAZON.COM INC 3.77% |
| DISH DBS CORP 0.19% | ALPHABET INC CL A 2.98% |
| DISH DBS CORP 0.10% | BROADCOM INC 2.61% |
| ALPHABET INC CL C 2.39% | |
| META PLATFORMS INC CLASS A 2.16% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated Apr 30, 2026 and Sep 10, 2026.
| IALT iShares Systematic Alternatives Active ETF | SPY SPDR S&P 500 ETF Trust | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | iShares | State Street |
| What it is | Systematic Alternatives Active | S&P 500 |
| Total return, 1 year | +17.4% | +17.5% |
| S&P 500 over the same days | +12.1% | +17.5% |
| Gap to the S&P 500 | +5.4 pts | 0.0 pts |
| Expense ratio | not published | 0.09% |
| Already in the S&P 500 | 54.9% | 100.0% |
| Holdings | 8 | 505 |
IALT in plain words
IALT is an index equity fund tracking the Systematic Alternatives Active. By its holdings filed for Apr 30, 2026, 55% of the fund by weight is stocks the S&P 500 also holds, across 8 positions, with the top ten at 100.0%.
SPY in plain words
SPY is an index equity fund tracking the S&P 500. Over the year to Sep 11, 2026 it returned +17.5% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.09% a year. By its holdings filed for Sep 10, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 505 positions, with the top ten at 38.2%.
Questions people ask
- How much do IALT and SPY overlap with the S&P 500?
- By their latest filed holdings, 55% of IALT and 100% of SPY by weight is stocks the S&P 500 already holds. Between the two funds, 0% of their books are the same securities at the same weight.
Other comparisons
Where to next
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, IALT against SPY, data as of Sep 13, 2026. https://etfiq.com/compare/any/ialt-vs-spy Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources