As of Nov 4, 2026. Rebuilt every trading night.
Alternatives ETFs furthest ahead of T-bills
See 15 funds ranked by total return minus BIL’s, in percentage points, one year. Updated Nov 4, 2026. Return against T-bills is what a fund earned over holding cash. It does not measure diversification. A fund can lead this list and still move closely with the index, which the correlation column shows.
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All 15, highest first
15 of 15 · click a column to sort| # | Ticker | Fund | Strategy | Correlation | Beta | Down-week capture | Against T-bills ↓ |
|---|---|---|---|---|---|---|---|
| 1 | LSEQ | Harbor Long-Short Equity ETF | Long-short equity | +0.18 | +0.24 | 24.8% | +20.8 pts |
| 2 | MFUT | Cambria Chesapeake Pure Trend ETF | Managed futures | +0.54 | +0.74 | 89.9% | +19.1 pts |
| 3 | RSST | Return Stacked U.S. Stocks & Managed Fut | Managed futures | +0.85 | +1.45 | 164.8% | +18.9 pts |
| 4 | CLSE | Convergence Long/Short Equity ETF | Long-short equity | +0.73 | +0.75 | 59.1% | +18.4 pts |
| 5 | ASGM | Virtus AlphaSimplex Global Macro ETF | Global macro | +0.85 | +1.08 | 116.3% | +18.2 pts |
| 6 | ORR | Militia Long/Short Equity ETF | Long-short equity | +0.41 | +0.47 | 25.0% | +16.7 pts |
| 7 | IMF | Invesco Managed Futures Strategy ETF | Managed futures | +0.38 | +0.24 | 13.0% | +15.6 pts |
| 8 | AHLT | AHL Trend ETF | Managed futures | +0.47 | +0.58 | 81.7% | +14.7 pts |
| 9 | DBMF | iMGP DBi Managed Futures Strategy ETF | Managed futures | +0.26 | +0.23 | 32.9% | +14.3 pts |
| 10 | FFUT | Fidelity Managed Futures ETF | Managed futures | +0.09 | +0.08 | 13.6% | +13.4 pts |
| 11 | KMLM | KraneShares Mount Lucas Managed Futures | Managed futures | −0.12 | −0.12 | −16.3% | +12.9 pts |
| 12 | MKTN | Federated Hermes MDT Market Neutral ETF | Market neutral | −0.06 | −0.03 | −43.2% | +12.6 pts |
| 13 | TFPN | Blueprint Chesapeake Multi-Asset Trend E | Managed futures | +0.75 | +1.00 | 123.6% | +10.8 pts |
| 14 | CSM | ProShares Large Cap Core Plus | Long-short equity | +0.98 | +0.94 | 90.7% | +10.1 pts |
| 15 | PRAE | PlanRock Equity Plus Alternatives ETF | Managed futures | +0.79 | +0.95 | 120.0% | +9.5 pts |
52 weekly returns to Nov 4, 2026 for each fund and for the S&P 500, measured through SPY with distributions reinvested.
The rest of the method
Correlation and beta are computed on those weeks; down-week capture is the fund’s average return in the weeks SPY fell, as a share of SPY’s. Return against T-bills is the fund’s total return minus BIL’s over the same weeks. The list sorts one published number, with no scoring or weighting. Every fund ETFIQ covers in this category is eligible, closed funds included.
Links are sources, not endorsements. A ranking is not a recommendation or an opinion.
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ETFIQ, Alternatives ETFs furthest ahead of T-bills, ranked by total return minus BIL’s, in percentage points, data as of Nov 4, 2026. https://etfiq.com/rankings/alternatives-ahead-of-t-bills
ETFIQ. (Nov 4, 2026). Alternatives ETFs furthest ahead of T-bills, ranked by total return minus BIL’s, in percentage points. Retrieved from https://etfiq.com/rankings/alternatives-ahead-of-t-bills
[Alternatives ETFs furthest ahead of T-bills, ranked by total return minus BIL’s, in percentage points (ETFIQ, Nov 4, 2026)](https://etfiq.com/rankings/alternatives-ahead-of-t-bills)
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