# Alternatives ETFs that rose when the S&P 500 fell

> BTAL leads alternatives ETFs that rose when the S&P 500 fell at −168.4% (down-week capture, one year), as of Nov 4, 2026.

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

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

## Alternatives ETFs that rose when the S&P 500 fell

See 9 funds ranked by down-week capture against the S&P 500, lowest first, one year. Updated Nov 4, 2026. 9 of the 62 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 | −0.74 | −1.37 | −168.4% | −13.7 pts |
| 2 | MKTN | Federated Hermes MDT Market Neutral ETF | Market neutral | −0.06 | −0.03 | −43.2% | +12.6 pts |
| 3 | FLSP | Franklin Systematic Style Premia ETF | Multi-strategy | −0.13 | −0.06 | −21.2% | +7.9 pts |
| 4 | CCOR | Core Alternative ETF | Hedged equity | −0.14 | −0.10 | −20.7% | +3.9 pts |
| 5 | KMLM | KraneShares Mount Lucas Managed Futures | Managed futures | −0.12 | −0.12 | −16.3% | +12.9 pts |
| 6 | TAIL | Cambria Tail Risk ETF | Hedged equity | −0.74 | −0.36 | −15.9% | −16.0 pts |
| 7 | QBER | TrueShares Quarterly Bear Hedge ETF | Hedged equity | −0.71 | −0.12 | −15.4% | −3.8 pts |
| 8 | TOAK | Manager Directed Portfolios Twin Oak Sho | Hedged equity | +0.12 | 0.00 | −6.1% | 0.0 pts |
| 9 | CAOS | Alpha Architect Tail Risk ETF | Hedged equity | −0.15 | −0.01 | −3.3% | −2.3 pts |

### Method

52 weekly returns to Nov 4, 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 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, 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 Nov 4, 2026. https://etfiq.com/rankings/alternatives-rose-when-stocks-fell
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-rose-when-stocks-fell