IQ

QALT SEI DBi Multi-Strategy Alternative ETF

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$25.66
−0.5% · 1 day, price
IQ’s readingComputed nightly from ETFIQ data. Not written live.

Over the year to Nov 4, 2026, QALT returned 6.5%. When the S&P 500 fell, it fell 46% as much.

Why did QALT return +10.8% from Sep 2025 to Oct 2026, against AGG’s +0.5%?Is a 0.80% fee low for a fund like QALT?What do QALT’s net flows of −$8.3m over the since Jul 2025 mean?
Multi-strategy fund: runs several alternative strategies at once, or aims to return what hedge funds as a group returnSEI ↗Expense ratio 0.80%Fund assets $194m net assets, latest filing (Jun 30, 2026)First traded Aug 25, 2025Benchmark AGGSEC filings ↗Every SEI fund ETFIQ coversDividend history

Promise check: Not measuredIts strategy, multistrategy, states no objective ETFIQ can measure.

Compare with…Trading costsPut to the committeeaskIQ about QALTAdd to portfolioFlowsAlerts

QALT risk and return scorecard

vs AGG, its stated benchmark (secondary) · Sep 2025 to Oct 2026 · 60 weekly returns · dividend-adjusted

Short history · 14 months
QALT +10.8%, AGG +0.5%, Sep 2025 to Oct 2026, distributions reinvested.

Secondary: AGG tracks the Bloomberg U.S. Aggregate Bond Index, named in its shareholder report. Its own benchmark is its holdings, which have no weekly prices.

Return
MeasureQALTAGGEdge
Total return+10.8%+0.5%QALT
Annualized+9.3%+0.5%QALT
Price return+3.5%−3.7%QALT
Risk
MeasureQALTAGGEdge
Volatility6.7%3.6%AGG
Max drawdown−4.5%−4.5%Tie
Upside capture89.7%100.0%AGG
Downside capture9.6%100.0%QALT
Risk-adjusted
MeasureQALTAGGEdge
Sharpe ratio0.79−0.91QALT
Sortino ratio1.03−1.12QALT
Alpha vs AGG
MeasureQALTAGGEdge
Alpha, a year+6.5%Not significant
Alpha t-stat1.04
Beta to AGG0.361.00Lower beta

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records; risk-free rate: U.S. Treasury, Daily Treasury Bill Rates, 13-week coupon equivalent Method · Data

Money in and out

Net fund flows · Jun 30, 2026
12 months to Jun 30, 2026
−$8.3m
Since Jul 2025
−$8.3m
askIQ: what do these flows mean? ↗

What you earned

QALT −3.1%: total return over one month to Nov 4, 2026.
QALT−3.1%
QALT −2.2%: total return over three months to Nov 4, 2026.
QALT−2.2%
QALT +1.0%: total return over six months to Nov 4, 2026.
QALT+1.0%
QALT +4.8%: total return over the year to Nov 4, 2026.
QALT+4.8%
QALT +6.5%: total return over one year to Nov 4, 2026.
QALT+6.5%
QALT +10.0%: total return since launch to Nov 4, 2026.
QALT+10.0%
askIQ: what drove QALT’s returns? ↗

How concentrated, and what does it cost?

+0.60
Correlation with the S&P 500
Report
+0.31
Beta to the S&P 500
Report
45.7%
Down-week capture
Report
+2.5 pts
Against T-bills, 52 weeks
Report
6.8%
12-month yield, capital gains included, on its starting price
Report
$0.1658
Last payment (paid quarterly), ex-date Oct 5, 2026
Report
Sector mix
Cost against like funds
askIQ: is a 0.80% fee low for a fund like QALT? ↗

More on QALT

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Price and total return, 1 year

$25.66−0.5%1 day, priceClose, Nov 4, 2026

Total return adds every distribution, reinvested. Computed by ETFIQ from Tiingo daily prices.

Source: Tiingo end-of-day prices. Data as of Nov 4, 2026. Updated every trading night. Report a data error

QALT returns by window: total return, cash paid and price change
WindowTotal returnS&P 500 (SPY)
1M Oct 5 – Nov 4, 2026−3.1%−1.0%
3M Aug 5 – Nov 4, 2026−2.2%−0.1%
6M May 6 – Nov 4, 2026+1.0%+5.0%
YTD Dec 31, 2025 – Nov 4, 2026+4.8%+13.3%
1Y Nov 4, 2025 – Nov 4, 2026+6.5%+14.8%
Since launch Aug 25, 2025 – Nov 4, 2026+10.0%+21.0%
Since launch, annualised Aug 25, 2025 – Nov 4, 2026+8.3%–

Total returns, distributions reinvested. Listed Aug 2025: no 3 years windows.

Source: Tiingo end-of-day prices, with distributions reinvested.

Fell 46% as much as the S&P 500
Fell 46% as much as the S&P 500QALT in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, QALT −0.49%.SPY−1.07%QALT−0.49%Average week when SPY fell: 26 of 52, year to Nov 4, 2026Fell 46% as much as the S&P 500QALT in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, QALT −0.49%.SPY−1.07%QALT−0.49%Average week when SPY fell

QALT in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, QALT −0.49%.

Money in and out

Monthly data · as of Jun 30, 2026

QALT: in the month to Jun 30, 2026, net $666k went out, by its SEC filing.

12 months
−$8.3m
Jul 1, 2025 to Jun 30, 2026
monthly, from SEC filings
Since Jul 2025
−$8.3m
Jul 1, 2025 to Jun 30, 2026
monthly, from SEC filings

Computed by ETFIQ from the monthly sales and redemptions QALT files with the SEC on Form N-PORT.

How this is computed

ETFIQ reads no daily data for this fund, so its flows are monthly, and the latest month filed is Jun 2026. Every day and month ETFIQ holds for QALT, back to Jul 2025, is in its flows file. Flows across every fund · How these flows are computed · Compare QALT with other funds in the flows tool

Month by month, money in and money outJul 2025 to Jun 2026

QALT, money in and money out each month from Jul 2025 to Jun 2026: two bars a month, money in above the line and money out below. Every bar is from QALT’s SEC filings (N-PORT item B.6). Of the 12 months listed, money came in on net in 2 and went out in 8.

Every bar is from QALT’s SEC filings (N-PORT item B.6). Of the 12 months listed, money came in on net in 2 and went out in 8.

MonthInOutNet
Jun 2026 SEC Form N-PORT$0−$666k−$666k
May 2026 SEC Form N-PORT$0$0$0
Apr 2026 SEC Form N-PORT+$631k$0+$631k
Mar 2026 SEC Form N-PORT$0$0$0
Feb 2026 SEC Form N-PORT+$2.6m$0+$2.6m
Jan 2026 SEC Form N-PORT$0−$634k−$634k
Dec 2025 SEC Form N-PORT$0−$1.3m−$1.3m
Nov 2025 SEC Form N-PORT$0−$1.3m−$1.3m
Oct 2025 SEC Form N-PORT$0−$3.2m−$3.2m
Sep 2025 SEC Form N-PORT$0−$635k−$635k
Aug 2025 SEC Form N-PORT+$18.5m−$19.1m−$626k
Jul 2025 SEC Form N-PORT+$1.2m−$4.4m−$3.2m

Most recent first.

How this is computed

N-PORT months: money in is sales plus reinvestments; money out is redemptions.

N-PORT months are the filed sales plus reinvestments less redemptions. Later months add up the daily data; the Source column names any missing day.

Source: ETFIQ, from the fund’s SEC N-PORT filings. Data as of Jun 30, 2026. Updated when the fund files its next report.

QALT key stats

52-week high, daily closes to Nov 4, 2026 (ETFIQ)$26.72 on Aug 17, 2026
52-week low, daily closes to Nov 4, 2026 (ETFIQ)$24.93 on Dec 29, 2025
Close on Nov 4, 2026, within that range (ETFIQ)$25.66, 41% of the way from the low to the high
Range, beta and R-squared computed by ETFIQ from Tiingo daily prices.

Trading

as of Jun 15, 2026
Trading · QALTas of Jun 15, 2026
·
Not scored1 of 6 measured · Jun 15, 2026
0 · Hard to tradeIQ Liquidity Score100 · Trades like a giant
Cost for your order · one way, half its 30-day median spread
One dealer
How to tradeSpread not read.
Full trading page: components, premium history, dealers →

QALT for holders outside the US

US tax withheld on dividends, no treaty30%
Treaty rates on dividends (IRS table, read Oct 30, 2026)65 countries, 10% to 30%
QALT interest-related and short-term gain dividendsnot read by ETFIQ
US estate tax filing threshold, non-resident holders$60,000
Share classDistributing

QALT is a US fund. Stock of US corporations counts as US property for a non-resident's estate. Facts from the IRS, not tax advice. How withholding and treaties work

About QALT

IssuerSEI
Strategy (ETFIQ, from its prospectus)Multi-strategy
Expense ratio (485BPOS XBRL, Jul 29, 2026)0.80%Report
Net assets (SEC N-PORT, whole fund, as filed for Jun 30, 2026)$194mReport
Stated benchmark (secondary)Bloomberg U.S. Aggregate Bond Index (from its shareholder report), priced by AGG
QALT, 1 year to Nov 4, 2026 (secondary)+6.5%
AGG, the same days (secondary)+0.2%
Against its stated benchmark, 1 year (secondary)+6.3 pts
Daily R-squared against AGG, 1 year to Nov 4, 2026 (secondary)0.00
Weeks measured52, from Nov 5, 2025 to Nov 4, 2026
Weeks the S&P 500 fell26
The S&P 500 in those weeks, on average−1.07%
QALT in those weeks, on average−0.49%
QALT total return over those weeks+6.2%
T-bills (BIL) over the same weeks+3.7%
When stocks fellS&P 500 −4.9% in March 2026; QALT −4.4%
Weekly correlation with the S&P 500+0.60, 52 weeks to Nov 4, 2026
First tradedAug 25, 2025
History (N-CSR, Dec 5, 2025; N-14, Jun 25, 2025)Converted from a mutual fund on Aug 22, 2025; the fund started on Jun 30, 2023
Days traded302
Quotedon an exchange, every trading day
How we measure
Weekly closes from Tiingo with distributions reinvested, 52 weeks to the same date for the fund, SPY and BIL. ETFIQ calculation. Method
IQ Investment Committee on QALT

12 seats on QALT, as of Nov 4, 2026: 1 Mixed, 2 Challenges, 8 Not enough data, 1 Does not apply.

In the tradition ofJohn BogleBogle-style Low CostChallenges
In the tradition ofBenjamin GrahamGraham-style Margin of SafetyNot enough data
In the tradition ofWarren Buffett & Charlie MungerBuffett & Munger-style QualityNot enough data
In the tradition ofPeter LynchLynch-style Growth at a Reasonable PriceNot enough data
In the tradition ofJohn TempletonTempleton-style Global ContrarianNot enough data
In the tradition ofRay DalioDalio-style All-WeatherNot enough data
In the tradition ofHoward MarksMarks-style Cycles & RiskNot enough data
In the tradition ofStanley DruckenmillerDruckenmiller-style Macro & LiquidityDoes not apply
In the tradition ofDavid SwensenSwensen-style DiversificationChallenges
In the tradition ofCathie WoodWood-style Disruptive InnovationNot enough data
In the tradition ofJesse LivermoreLivermore-style Trend FollowingMixed
Uses ETFIQ’s measuresThe ETFIQ SkepticETFIQ’s own seatNot enough data
Put QALT to the committee →See all seats →No investor named is affiliated with or endorses ETFIQ. Not investment advice.

Questions people ask about QALT

Does QALT move with the S&P 500?
Over the year to Nov 4, 2026, QALT’s weekly returns had a correlation of +0.60 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 +0.31, so for each 1% the index moved it moved about 0.31% the same way.
What did QALT do when stocks fell?
The S&P 500 fell in 26 of the 52 weeks to Nov 4, 2026, by 1.07% on average. In those weeks QALT fell 0.49% on average, a down-week capture of 45.7%.
Did QALT earn more than cash?
Over the same 52 weeks QALT returned +6.2% with distributions reinvested, and BIL, a fund of Treasury bills, returned +3.7%. QALT finished 2.5 percentage points ahead of it.
What does QALT cost?
The prospectus expense ratio is 0.80% a year.
Why is QALT listed as multi-strategy?
ETFIQ files each fund by what its own prospectus says it does, and QALT’s, filed Jul 29, 2026, describes a multi-strategy fund.
Sources and dates
Prices, QALT and S&P 500 (SPY)Prices, Tiingo end of day ↗
Fee, 0.80%Prospectus filing with the expense ratio (SEC) ↗
Net assets, $194mSEC N-PORT, whole fund · Jun 30, 2026
SourceProspectus the strategy was read from (SEC) ↗
IssuerSEI website ↗
All fund filingsFund filings on SEC EDGAR ↗

Links are sources, not endorsements.

Method →Standards and sources →Open data →
Cite this pageCitation, APA and Markdown

ETFIQ, QALT, alternatives ETFs, data as of Nov 4, 2026. https://etfiq.com/funds/qalt

The down-week bars for QALT, redrawn every trading night.

Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data.

Correlation
How closely the fund’s weekly returns moved with the S&P 500’s over the last year, from −1 to 1. At 1 the two rise and fall together, at 0 there is no pattern, and below 0 the fund tended to move the other way.
Beta
How far the fund moved, on average, for each 1% move in the S&P 500 over the same weeks. At 0.3 it moved about 0.3% the same way; below 0 it moved the other way.
Down week
A week in which the S&P 500 fell, measured through SPY with dividends reinvested. A week that ended exactly level is not a down week.
Down-week capture
The fund’s average return in the S&P 500’s down weeks as a share of the index’s own average in those weeks. At 100% it fell as much, at 50% half as much, and below zero it rose. It is weekly and covers one year, so it is not the same number as Morningstar’s downside capture.
Against T-bills
The fund’s total return minus a short Treasury bill fund’s (BIL) over the same year, in percentage points. A fund can steady a portfolio and still earn less than cash.
Full definitions: alternatives ETFs vocabulary page. →
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QALT: QALT in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, QALT −0.49%.
<figure style="margin:0;max-width:640px">
<iframe src="https://etfiq.com/embed/alternatives/qalt/" title="QALT: QALT in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, QALT −0.49%." width="640" height="334" loading="lazy" style="border:0;max-width:100%;width:100%"></iframe>
<figcaption style="font:13px/1.5 sans-serif">QALT: QALT in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, QALT −0.49%. Data: <a href="https://etfiq.com/funds/qalt">ETFIQ</a></figcaption>
</figure>

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Snapshot, Nov 4, 2026. More on the tabs above.