As of . Rebuilt every trading night.
The largest multi-strategy ETFs
Every fund here runs a multi-strategy strategy, so what separates them is how well each does that job.
| # | Ticker | Fund | Net assets | Correlation | Down-week capture | Against T-bills | Source |
|---|---|---|---|---|---|---|---|
| 1 | IALT | iShares Systematic Alternatives Active E | $6.0bn | under a year | not measured | not available | Issuer daily, Sep 18, 2026 |
| 2 | FLSP | Franklin Systematic Style Premia ETF | $1.1bn | +0.01 | −12.6% | +10.1 pts | Issuer page, Sep 18, 2026 |
| 3 | QAI | NYLIM Hedge Multi-Strategy Tracker ETF | $968m | +0.85 | 34.0% | +5.4 pts | SEC N-PORT, Apr 30, 2026 |
| 4 | LALT | First Trust Multi-Strategy Alternative E | $389m | +0.24 | −14.9% | +11.6 pts | Issuer page, Sep 18, 2026 |
| 5 | QALT | SEI DBi Multi-Strategy Alternative ETF | $194m | +0.45 | 21.1% | +5.6 pts | SEC N-PORT, Jun 30, 2026 |
| 6 | QIS | Simplify Multi-QIS Alternative ETF | $46m | −0.15 | 59.6% | −41.5 pts | Issuer page, Sep 18, 2026 |
| 7 | HFND | Unlimited HFND Multi-Strategy Return Tra | $33m | +0.78 | 50.0% | +4.1 pts | SEC N-PORT, May 31, 2026 |
| 8 | HDG | ProShares Hedge Replication ETF | $23m | +0.83 | 29.0% | +5.2 pts | Issuer page, Sep 18, 2026 |
Method
The 8 multi-strategy ETFs ETFIQ measures, of which 8 publish net assets. Across the funds listed here correlation with the S&P 500 runs from -0.1 to 0.8. Size is not a measure of how much a fund diversifies. The correlation column is. The ranking is the published field sorted, nothing else: no scoring, no weighting and no view on any fund. Every fund ETFIQ covers in this category is eligible, including funds that have closed, because leaving them out would flatter the category.
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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.
A ranking is not a recommendation and no order on this site is an opinion. ETFIQ is an independent publisher, not an adviser. Standards and sources
Cite this page. ETFIQ, The largest multi-strategy ETFs, ranked by net assets, data as of Sep 18, 2026. https://etfiq.com/rankings/alternatives-largest-multi-strategy Free to use with attribution; the underlying files are at Open data.