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IALT

GradeBNASDAQ Global Market

iShares Systematic Alternatives Active ETF

Multi-Asset & Alternatives · IShares · Inception 2025-12-08 · SEC filings

$29.74−0.02 (−0.07%)

As of Sep 23, 2026, 2:20 PM EDT

History starts Dec 11, 2025.History starts Dec 11, 2025.
Intraday session: down, 59 prints from 29.76 to 29.74. Range 29.60 to 29.79. Use the arrow keys to read each point.$29.60$29.65$29.70$29.8010 AM12 PM2 PM4 PM
Expense ratio
0.99%
Fund size
$6.0B
1Y return
—
Yield · Last 12 months
Data unavailable
Holdings
1734
Volume · 30D
3.7M sh
NAV per share
$29.64
52W range
low $24.97high $30.00

The ETF.net IALT Grade

B

63/ 100

Rank 8 of 30 in Alternative Strategies⁠

Confidence Medium

Six-pillar profile for IALT. Scores out of 100: Cost 55, Risk 92, Mission not scored, Tradability 63, Holdings 40, Durability 76. Strongest: Risk (92). Weakest: Holdings (40). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 63 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    BScore 55
    Category rank15/30 · top 50%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    AScore 92
    Category rank2/30 · top 7%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 63
    Category rank13/30 · top 43%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    CScore 40
    Category rank11/15 · mid-pack

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    AScore 76
    Category rank5/30 · top 17%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on IALT

ETF.net Research

BHedge-fund-style machinery in an ETF wrapper: IALT runs long and short across global asset classes, with quant models hunting mispricings instead of an index calling the shots. It launched in 2025 and is already a multi-billion-dollar fund.

Stated mandate

The Fund seeks long-term total return through global asset classes and diversified alternative strategies. It combines long and short strategies and uses quantitative, model-driven methods to identify potentially mispriced securities and asset classes.

Why people hold it

  1. 01Goes both ways. Long and short positions across global asset classes, with quantitative models picking what looks mispriced rather than an index setting the lineup.
  2. 02Spread is the point. Roughly 1,800 positions across global markets and multiple asset classes, so no single name or region carries the fund.
  3. 03Strategies like this usually live in private funds. Here it is a 1940 Act ETF that trades on an exchange all day, and it is an actively traded, multi-billion-dollar fund.

Worth knowing

  1. 01At 0.99%, it costs several times what plain allocation funds charge (AOA at 0.19%, NTSX at 0.20%). The fee buys the short book and the models, not market exposure.
  2. 02Shorting cuts both ways, and a model rather than a benchmark makes the calls. Results can sit far from a standard stock-and-bond mix in either direction.
  3. 03It opened in December 2025, so there is little history showing how the models handle a full market cycle. Distributions come once or twice a year, not monthly.

IALT Holdings

As of Sep 22, 2026, 5:16 AM
Asset class
Other
Holdings
1,734
Top-10 weight
63%
Largest holding
TREASURY BILL 04/15/2027 (TBILL)18.2%

Geography

  • United States90.70%
  • Italy2.20%
  • France1.54%
  • Germany1.17%
  • Ireland1.08%
  • Canada0.70%
  • Spain0.46%
  • Israel0.45%
  • Other countries (14)1.69%
The fund’s holdings, weight-ordered — page 1 of 66.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—TREASURY BILL 04/15/2027 (TBILL)18.22%1,124,537,900$1.1B7
002—TREASURY BILL 10/20/2026 (TBILL)11.83%715,038,500$713M19
003—TREASURY BILL 08/05/2027 (TBILL)8.72%546,096,100$526M10
004—TREASURY BILL 05/13/2027 (TBILL)4.75%294,438,200$287M8
005—TREASURY BILL 02/04/2027 (TBILL)4.61%282,359,600$278M10
006—TREASURY BILL 06/10/2027 (TBILL)3.93%244,561,400$237M6
007—TREASURY BILL 01/12/2027 (TBILL)3.17%193,738,800$191M3
008—TREASURY BILL 02/25/2027 (TBILL)2.94%180,715,400$178M9
009—TREASURY BILL 12/10/2026 (TBILL)2.62%159,451,600$158M13
010—TREASURY BILL 10/08/2026 (TBILL)2.48%150,000,000$150M25
011—TREASURY BILL 11/05/2026 (TBILL)2.48%150,000,000$149M21
012—CASH COLLATERAL USD GSCFT 12/31/2049 (GSCFT)2.46%148,386,000$148M2
013—TREASURY BILL 01/21/2027 (TBILL)2.30%140,589,700$139M13
014—TREASURY BILL 07/08/2027 (TBILL)2.19%136,610,900$132M6
015—TREASURY BILL 01/14/2027 (TBILL)1.99%121,651,400$120M8

Showing 1–15 of 985 holdings

IALT Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

IALT$11,791
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,430
Dec 31, 2025 to Sep 22, 2026. IALT $11,791. SPY $11,430. Use the arrow keys to read each point.$9,089$10,570$12,051Dec 2025May 2026Sep 2026

Dec 31, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for IALT. Periods over one year show the average yearly return.
PeriodIALT
Year to date+17.9%
1 month+2.7%
3 months+4.9%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for IALT
YearReturn barIALT
2026 YTD+17.9%
2025+0.8%

History from Dec 11, 2025

IALT in the news

ETF.net Research hasn’t filed on IALT yet — coverage lands here as it’s written.

IALT Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.08 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 2 payments from 2025 to 2026 YTD. Dec 30, 2025 $0.03; Jun 15, 2026 $0.08. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Jun 15, 2026Jun 18, 2026$0.08
Dec 30, 2025Jan 5, 2026$0.03

IALT Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Dec 2025; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Dec 2025; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Dec 2025; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.004
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

IALT Cost

Expense ratio0.99%
  • The middle half of Alternative Strategies funds
  • Median 1.00%

12 of the 29 Alternative Strategies funds charge less.

IALT costs $99.00 a year on $10,000. The median Alternative Strategies fund costs $100.00.