As of . Rebuilt every trading night.
Alternatives ETFs that rose when the S&P 500 fell
20 of the 63 alternatives ETFs with a full year rose on average in the weeks the S&P 500 fell. A fund can do that and still trail cash over the year.
| # | Ticker | Fund | Strategy | Correlation | Beta | Down-week capture | Against T-bills |
|---|---|---|---|---|---|---|---|
| 1 | BTAL | AGF U.S. Market Neutral Anti-Beta Fund | Market neutral | −0.69 | −0.98 | −95.2% | −22.7 pts |
| 2 | CTA | Simplify Managed Futures Strategy ETF | Managed futures | −0.26 | −0.47 | −78.5% | +10.1 pts |
| 3 | KMLM | KraneShares Mount Lucas Managed Futures | Managed futures | −0.24 | −0.22 | −60.3% | +16.1 pts |
| 4 | LSEQ | Harbor Long-Short Equity ETF | Long-short equity | +0.05 | +0.07 | −48.0% | +19.2 pts |
| 5 | FFUT | Fidelity Managed Futures ETF | Managed futures | −0.04 | −0.03 | −32.3% | +23.4 pts |
| 6 | TAIL | Cambria Tail Risk ETF | Hedged equity | −0.75 | −0.44 | −32.1% | −16.8 pts |
| 7 | IMF | Invesco Managed Futures Strategy ETF | Managed futures | +0.22 | +0.12 | −22.7% | +19.4 pts |
| 8 | DBMF | iMGP DBi Managed Futures Strategy ETF | Managed futures | +0.26 | +0.20 | −16.8% | +21.7 pts |
| 9 | FMF | First Trust Managed Futures Strategy Fun | Managed futures | +0.18 | +0.12 | −16.2% | +11.7 pts |
| 10 | MFUT | Cambria Chesapeake Pure Trend ETF | Managed futures | +0.29 | +0.28 | −15.9% | +27.5 pts |
| 11 | MRGR | ProShares Merger ETF | Event driven | −0.02 | −0.01 | −15.6% | +4.7 pts |
| 12 | QBER | TrueShares Quarterly Bear Hedge ETF | Hedged equity | −0.69 | −0.14 | −15.4% | −4.0 pts |
| 13 | LALT | First Trust Multi-Strategy Alternative E | Multi-strategy | +0.24 | +0.11 | −14.9% | +11.6 pts |
| 14 | FLSP | Franklin Systematic Style Premia ETF | Multi-strategy | +0.01 | +0.01 | −12.6% | +10.1 pts |
| 15 | ISMF | iShares Managed Futures Active ETF | Managed futures | +0.32 | +0.18 | −7.8% | +14.3 pts |
Method
52 weekly returns to Sep 18, 2026 for each fund and for the S&P 500, measured through SPY with distributions reinvested. 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. A capture below zero means the fund rose, on average, in the weeks the index fell. 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
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Cite this page. ETFIQ, Alternatives ETFs that rose when the S&P 500 fell, ranked by down-week capture against the S&P 500, lowest first, data as of Sep 18, 2026. https://etfiq.com/rankings/alternatives-rose-when-stocks-fell Free to use with attribution; the underlying files are at Open data.