# LALT (First Trust Multi-Strategy Alternative ETF)

First Trust · Alternatives ETFs · data as of Sep 18, 2026

In the S&P 500’s down weeks over the year to Sep 18, 2026, LALT rose 0.18% a week on average.

## Key facts

- LALT, correlation with the S&P 500: +0.24, as of Sep 18, 2026.
- LALT, beta to the S&P 500: +0.11, as of Sep 18, 2026.
- LALT, down-week capture: −14.9%, as of Sep 18, 2026.
- LALT, against T-bills, 52 weeks: +11.6 pts, as of Sep 18, 2026.
- LALT, net assets: $389m (issuer page, as of Sep 18, 2026).
- LALT, expense ratio: 1.18% (485BPOS XBRL, Dec 29, 2025).

## LALT over each window to Sep 18, 2026

| Window | The fund | S&P 500 | Difference, percentage points |
| --- | --- | --- | --- |
| 3 months | +2.9% | +2.3% | +0.7 pts |
| 6 months | +3.6% | +18.0% | −14.4 pts |
| 1 year | +15.3% | +16.6% | −1.2 pts |
| 3 years | +32.8% | +78.4% | −45.6 pts |
| Since it listed | +36.0% | +94.4% | −58.4 pts |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Issuer | First Trust | ETFIQ |
| Strategy | Multi-strategy | ETFIQ, from its prospectus |
| Expense ratio | 1.18% | 485BPOS XBRL, Dec 29, 2025 |
| Net assets | $389m | issuer page, as of Sep 18, 2026 |
| Weeks measured | 52, from Sep 19, 2025 to Sep 18, 2026 | ETFIQ |
| Weeks the S&P 500 fell | 22 | ETFIQ |
| The S&P 500 in those weeks, on average | −1.24% | ETFIQ |
| LALT in those weeks, on average | +0.18% | ETFIQ |
| LALT total return over those weeks | +15.2% | ETFIQ |
| T-bills | +3.6% | ETFIQ |
| Listed since | Feb 1, 2023 | ETFIQ |
| Days traded | 90 | ETFIQ |
| Quoted | on an exchange, every trading day | ETFIQ |

## Questions

### Does LALT move with the S&P 500?

Over the year to Sep 18, 2026, LALT’s weekly returns had a correlation of +0.24 with the S&P 500’s, on a scale where 1 moves in step, 0 shows no pattern and −1 moves opposite. Its beta was +0.11, so for each 1% the index moved it moved about 0.11% the same way.

### What did LALT do when stocks fell?

The S&P 500 fell in 22 of the 52 weeks to Sep 18, 2026, by 1.24% on average. In those weeks LALT rose 0.18% on average, a down-week capture of −14.9%.

### Did LALT earn more than cash?

Over the same 52 weeks LALT returned +15.2% with distributions reinvested, and BIL, a fund of Treasury bills, returned +3.6%. LALT finished 11.6 percentage points ahead of it.

### What does LALT cost?

The prospectus expense ratio is 1.18% a year.

### Why is LALT listed as multi-strategy?

ETFIQ files each fund by what its own prospectus says it does, and LALT’s, filed Dec 29, 2025, describes a multi-strategy fund.


## Cite this page

ETFIQ, LALT, data as of Sep 18, 2026. https://etfiq.com/funds/lalt
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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