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Launched · SEC filings

iShares Systematic Alternatives Active ETF

IALTNasdaqiSharesB

$29.41−0.06 (−0.20%)

At close: Nov 2, 2026, 4:00 PM ET

B69/ 100

Rank 5 of 30 in Alternative Strategies

B69/100Rank 5 of 30inAlternative Strategies
Intraday session: down, 79 prints from 29.47 to 29.41. Range 29.37 to 29.57. Use the arrow keys to read each point.29.5029.5510 AM12 PM2 PM4 PM
Expense ratio
0.99%
Fund size
$7.87B
1Y total return
No data
Yield · Last 12 months
No data
Holdings
1025
Avg volume · 30D
1.97M sh
52W range
low $24.97high $30.32
Launched
Filings
SEC EDGAR

The ETF.net IALT Grade

Based on 5 of 6 pillars

B

Score 69 out of 100

Category
Alternative Strategies⁠
Rank
5 of 30
Six-pillar profile for IALT. Scores out of 100: Cost 66, Risk 92, Mission not scored, Tradability 72, Holdings 41, Durability 76. Strongest: Risk (92). Weakest: Holdings (41). Based on 5 of 6 pillars.

Score 69 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    B66 out of 100
    Rank 11 of 30

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    A92 out of 100
    Rank 1 of 30

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A72 out of 100
    Rank 5 of 30

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C41 out of 100
    Rank 13 of 17

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A76 out of 100
    Rank 5 of 30

Our read on IALT

ETF.net Research

In short

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

  • Goes both ways. Long and short positions across global asset classes, with quantitative models picking what looks mispriced rather than an index setting the lineup.
  • Spread is the point. Roughly 1,800 positions across global markets and multiple asset classes, so no single name or region carries the fund.
  • Strategies 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

  • At 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.
  • Shorting 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.
  • It 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

Holdings pillarC41 out of 100Rank 13 of 17 in Alternative Strategies
Asset class
Other
Holdings
1,025
Top-10 weight
59%
Largest holding
Treasury Bill 04/15/2027 (Tbill)13.5%

Geography

  • United States72.11%
  • Japan6.99%
  • Canada5.12%
  • Italy3.94%
  • United Kingdom3.63%
  • France3.08%
  • Germany3.01%
  • Norway2.11%
The fund’s holdings, weight-ordered — page 1 of 69.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataTreasury Bill 04/15/2027 (Tbill)13.51%1,088,821,200$1.07B12
2No dataTreasury Bill 08/05/2027 (Tbill)11.83%965,854,100$935M10
3No dataTreasury Note 3.50% 10/15/2028 (Tnote)7.42%597,600,000$587M23
4No dataTreasury Note 1.25% 09/30/2028 (Tnote)5.02%422,200,000$397M33
5No dataTreasury Note 3.38% 09/15/2028 (Tnote)3.72%299,200,000$294M29
6No dataTreasury Note 4.63% 09/30/2028 (Tnote)3.67%289,200,000$291M34
7No dataTreasury Bill 05/13/2027 (Tbill)3.64%294,438,200$288M7
8No dataTreasury Bill 02/04/2027 (Tbill)3.53%282,359,600$279M12
9No dataTreasury Bill 07/08/2027 (Tbill)3.16%256,678,500$249M6
10No dataTreasury Bill 06/10/2027 (Tbill)3.02%244,561,400$238M6
11No dataTreasury Note 1.13% 08/31/2028 (Tnote)3.00%252,100,000$237M33
12No dataTreasury Bill 01/12/2027 (Tbill)2.43%193,738,800$192M11
13No dataTreasury Bill 02/25/2027 (Tbill)2.26%180,715,400$178M11
14No dataCash Collateral USD Gscft 12/31/2049 (Gscft)2.14%169,147,000$169M2
15No dataTreasury Bill 12/10/2026 (Tbill)2.02%160,159,800$159M20

Showing 1–15 of 1025 holdings

IALT Performance

Launched Dec 9, 2025

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

Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
IALT$11,676
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,169
Dec 31, 2025 to Oct 30, 2026. IALT $11,676. SPY $11,169. Use the arrow keys to read each point.$10,000$11,000$12,000Dec 2025Jun 2026Oct 2026

Dec 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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+16.8%
1 month−1.3%
3 months+2.8%
1 yearFund is under 1 year oldNo data
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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+16.8%
2025+0.8%

History from Dec 11, 2025

IALT in the news

IALT Dividends

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

Risk pillarA92 out of 100Rank 1 of 30 in Alternative Strategies
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.

FMP measures it over up to five years of monthly returns.

IALT Cost

Compare IALT and HBDC

Overpaying vs HBDC, cheapest in Alternative Strategies

$10,627

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • IALT 0.99%

    $18,525

  • HBDC 0.39% Cheapest

    $7,898

$10,000
30 years

Cost over time

  • IALT 0.99%
  • HBDC 0.39%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530IALT $18,525HBDC $7,898

Year by year

YearIALTHBDCOverpaying
10$1,746$705$1,041
20$6,565$2,725$3,840
30$18,525$7,898$10,627

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