# Multi-strategy ETFs: 8 Ranked by Size, Nov 2026

> 8 multi-strategy ETFs ranked by net assets, as of Nov 4, 2026. IALT leads at $7.9bn in net assets. FLSP is second at $1.2bn in net assets.

Data as of Nov 4, 2026. Rebuilt every trading night.

As of Nov 4, 2026 . Rebuilt every trading night.

## The largest multi-strategy ETFs

See 8 funds ranked by net assets. Updated Nov 4, 2026. 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 | $7.9bn | under a year | not measured | not available | Issuer daily, Nov 3, 2026 |
| 2 | FLSP | Franklin Systematic Style Premia ETF | $1.2bn | −0.13 | −21.2% | +7.9 pts | Issuer page, Nov 3, 2026 |
| 3 | QAI | NYLIM Hedge Multi-Strategy Tracker ETF | $1.0bn | +0.89 | 50.9% | +3.5 pts | SEC N-PORT, Jul 31, 2026 |
| 4 | LALT | First Trust Multi-Strategy Alternative E | $442m | +0.34 | 8.9% | +8.0 pts | Issuer page, Nov 3, 2026 |
| 5 | QALT | SEI DBi Multi-Strategy Alternative ETF | $194m | +0.60 | 45.7% | +2.5 pts | SEC N-PORT, Jun 30, 2026 |
| 6 | QIS | Simplify Multi-QIS Alternative ETF | $47m | +0.03 | 191.0% | −50.7 pts | Issuer page, Nov 3, 2026 |
| 7 | HFND | Unlimited HFND Multi-Strategy Return Tra | $39m | +0.82 | 76.4% | −0.1 pts | SEC N-PORT, Aug 31, 2026 |
| 8 | HDG | ProShares Hedge Replication ETF | $22m | +0.85 | 38.0% | +3.0 pts | Issuer page, Nov 4, 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 0.9. Size does not show how much a fund diversifies. The correlation column does. The list sorts one published number, with no scoring or weighting. Every fund ETFIQ covers in this category is eligible, closed funds included.

### Where to next

### Sources

Links are sources, not endorsements.

A ranking is not a recommendation or an opinion. ETFIQ is an independent publisher, not an adviser. Standards and sources

---

Source: ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.
Cite: ETFIQ, The largest multi-strategy ETFs, ranked by net assets, data as of Nov 4, 2026. https://etfiq.com/rankings/alternatives-largest-multi-strategy
Licence: https://etfiq.com/license/ Data ETFIQ computes is free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.
HTML: https://etfiq.com/rankings/alternatives-largest-multi-strategy