---
ticker: "LALT"
name: "First Trust Multi-Strategy Alternative ETF"
url: "https://etf.net/etf/LALT"
grade: "A"
score: 78
graded_at: "2026-10-12"
category: "Alternative Strategies"
category_rank: "1 of 30"
methodology: "https://etf.net/methodology"
---

# LALT: First Trust Multi-Strategy Alternative ETF

Grade **A**, Score 78 of 100. Rank 1 of 30 in Alternative Strategies.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 100 | 1 of 30 |
| Mission | Not scored | — |
| Risk | 81 | 4 of 30 |
| Tradability | 65 | 6 of 30 |
| Holdings | 33 | 13 of 15 |
| Durability | 76 | 5 of 30 |

## Top holdings

The fund holds 8 positions. These are the largest 8, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | FAAR | First Trust Alternative Absolute Return Strategy ETF | 21.58% |
| 2 | FTLS | First Trust Long/Short Equity ETF | 21.50% |
| 3 | FMF | First Trust Managed Futures Strategy Fund | 21.41% |
| 4 | LMBS | First Trust Low Duration Opportunities ETF | 10.45% |
| 5 | FLSP | Franklin Systematic Style Premia ETF | 9.49% |
| 6 | FTGC | First Trust Global Tactical Commodity Strategy Fund | 8.02% |
| 7 | IEF | iShares 7-10 Year Treasury Bond ETF | 7.45% |
| 8 | — | US Dollar | 0.11% |

Source: etf.net, https://etf.net/etf/LALT. Please cite the page URL.