ALTY vs MDIV: Grades, Fees and Holdings Compared

Global X Alternative Income ETF

ALTYBNasdaq

Multi-Asset Diversified Income Index Fund

MDIVBNasdaq

Overlap

8.5%by weight

Expense ratio

ALTY −0.21pt a year

ALTY0.50%MDIV0.71%

Avg volume · 30D

MDIV 3.0×the volume

ALTY19.3KMDIV58.4K

10Y return · a year

ALTY +0.3pt

ALTY+5.5%MDIV+5.2%

ALTY vs MDIV Performance

Oct 29, 2021 – Oct 30, 2026

+25.5%ALTY+34.8%MDIV

Expense ratio: ALTY 0.50%, better; MDIV 0.71%
Fund size: ALTY $45M; MDIV $418M
1Y total return: ALTY +6.3%; MDIV +11.5%, better
Yield (12M): ALTY 7.99%, better; MDIV 7.48%
Holdings: ALTY 21; MDIV 124
Avg volume (30D): ALTY 19.3K sh; MDIV 58.4K sh, better
NAV per share: ALTY $11.72; MDIV $16.18
52W range

ETF.net Grade

Pillar letters and Scores for ALTY, MDIV, with each pillar’s weight
Pillar	ALTY	MDIV
Cost30% weight	A79Higher	C50
Mission25% weight	C50	A86Higher
Risk15% weight	C54	B55Higher
Tradability15% weight	C44	A74Higher
Holdings10% weight	D33	B67Higher
Durability5% weight	B62	A83Higher

Rank among Multi-Asset Income funds

How we build Categories ›

Same Category. ALTY and MDIV are both graded against the same 15 Multi-Asset Income funds, so their Grades compare head to head.

Multi-Asset Income⁠

Category · 15 funds

See all 15 ›

MDIV ranks 4th and ALTY 5th of 15 funds in the Multi-Asset Income Category.

Rank 1AINCMFranklin Income Focus ETFScore 82
Rank 2AIYLDiShares Morningstar Multi-Asset Income ETFScore 79
Rank 3AINKMState Street Income Allocation ETFScore 72
Rank 4BMDIVMulti-Asset Diversified Income Index FundScore 66
Rank 5BALTYGlobal X Alternative Income ETFScore 57
Rank 6BHNDLStrategy Shares Nasdaq 7HANDL Index ETFScore 56

Our read on each fund

ETF.net Research

ALTYBGlobal X Alternative Income ETF

MDIVBMulti-Asset Diversified Income Index Fund

In short

ALTY Income from the corners bonds don't cover. ALTY tracks the Indxx SuperDividend Alternatives Index, a global and emerging-market mix of high-payout alternative income sources, and distributes monthly.

MDIV Five income sleeves in one ticker: dividend stocks, REITs, preferreds, MLPs and a high-yield bond ETF, each reset to roughly 20% every quarter. Trading since 2012 and paying monthly, it spreads the yield hunt instead of making one big bet.

Stated mandate

ALTY ALTY seeks to track the price and yield performance of the Indxx SuperDividend Alternatives Index before fees and expenses.

MDIV The Fund seeks investment results that generally track the price and yield of the Nasdaq US Multi-Asset Diversified Income Index before fees and expenses.

Why people hold it

ALTY One ticker for an income sleeve most DIY investors can't easily build: a global, emerging-market-inclusive basket of high-yield alternatives, held in a standard 1940 Act ETF.globalxetfs.com
0.50% a year, below the typical fee in its multi-asset allocation peer group, for exposure that is far more specialized than a plain stock-and-bond blend.
Pays monthly, and has been running since 2015. That is a long track record for a niche income idea, and a cadence that lines up with monthly bills.

MDIV Five slices, one ticker: dividend stocks, REITs, preferreds, MLPs and a high-yield bond ETF, each rebalanced back to about 20% each quarter.sec.gov
Each segment filters out names whose annual volatility runs more than 15 percentage points above its benchmark, so the wildest high-yielders get screened.ftportfolios.com nasdaqomx.com
Trading since 2012 and paying monthly, with about 120 holdings, it ranks as one of the stronger implementations in the multi-asset income group.

Worth knowing

ALTY A small, thinly traded fund. Spreads can run wider than in the big allocation ETFs, which matters more on large or hurried orders.
Global X discloses that distributions can include return of capital, meaning part of a payout may be your own money back rather than income earned.globalxetfs.com
The mix is set by the index's yield-first rules, not a manager reading the market, so the sleeve holds whatever screens in at each rebalance.globalxetfs.com

MDIV 0.71% net of a waiver through January 31, 2027 (0.83% gross) sits near the category median, but above peers like INCM at 0.38% and IYLD at 0.50%.
The high-yield sleeve is owned through another ETF, which may be a First Trust fund, so a slice of the cost and credit exposure sits one layer down.sec.gov
All five sleeves are income assets: preferreds, high-yield bonds, REITs and MLPs can lean the same way when rates or credit spreads move.nasdaqomx.com

Full ALTY profile⁠

Full MDIV profile⁠

ALTY vs MDIV Holdings

As of Oct 13, 2026

How ALTY and MDIV differ

Overlap by weight

8.5%

Shared holdings make up 15.1% of ALTY and 8.5% of MDIV.

Level by level

Holdings12 in both8.5%
Sector11 Sectors67.4%
Countryby domicile95.0%

Sector

Sector weights in ALTY and MDIV, widest gap first
Sector	More in ALTYMore in MDIV	ALTY	MDIV
Technology	ALTY +22.1 points	22.1%	0.0%
Financials	MDIV +13.9 points	0.1%	13.9%
Energy	MDIV +13.8 points	21.1%	34.9%
Consumer Discretionary	ALTY +3.1 points	3.7%	0.6%
Utilities	ALTY +2.9 points	11.8%	8.9%
Communication	ALTY +2.9 points	4.6%	1.7%
Consumer Staples	MDIV +2.7 points	2.1%	4.8%
Real Estate	MDIV +1.9 points	30.8%	32.7%
Industrials	ALTY +1.3 points	2.0%	0.7%
Health Care	MDIV +0.4 points	1.4%	1.8%
Materials	ALTY +0.3 points	0.3%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in ALTY and MDIV, widest gap first
Country	More in ALTYMore in MDIV	ALTY	MDIV
United States	MDIV +4.5 points	94.7%	99.2%
United Kingdom	ALTY +2.4 points	2.4%	0.0%
Singapore	ALTY +1.1 points	1.1%	0.0%
France	ALTY +1.0 points	1.0%	0.0%
Other countries (5)	Same weight	0.8%	0.8%

Concentration

Weight in the 10 largest Holdings

ALTY87.6%
MDIV32.1%

Securities held

ALTY21
MDIV123

Asset class

ALTY: Equity
MDIV: Multi-Asset

Holdings

Only in ALTY9
In both12
Only in MDIV111

Only in ALTY

9 securities, 85.1% of ALTY by weight

Global X Nasd 100 Cov Call20.70%
Global X Emerging Markets Bd20.07%
Global X Us Preferred Etf19.80%
Global X Superdividend Reit19.17%
Northwestern Energy Group1.37%
Dominion Energy Inc1.28%
Antero Midstream Corp1.26%
Portland General Electric Co1.22%
Other Payable & Receivables0.22%

Only in MDIV

111 securities, 91.2% of MDIV by weight

First Trust Tactical High Yield ETF20.34%
Kimbell Royalty Partners LP1.38%
Mach Natural Resources LP1.37%
AGNC Investment Corp.1.34%
Annaly Capital Management, Inc.1.32%
Rithm Capital Corp.1.32%
ARMOUR Residential REIT, Inc.1.28%
TXO Partners, L.P.1.27%
Icahn Enterprises, L.P.1.27%
Rithm Capital Corp., Series B, Variable Rate1.23%
Dorchester Minerals, L.P.1.17%
CrossAmerica Partners LP1.10%
Citigroup Capital XIII, Variable Rate, due 10/30/20400.99%
Apple Hospitality REIT, Inc.0.95%
Gaming and Leisure Properties, Inc.0.92%
VICI Properties Inc.0.91%
AGNC Investment Corp., Series C, 7.000%, Variable Rate0.90%
Delek Logistics Partners LP0.90%
AGNC Investment Corp., Series E, 6.500% Variable Rate0.89%
USA Compression Partners LP0.89%
Rithm Capital Corp., Series D, Variable Rate0.88%
Annaly Capital Management, Inc., Series F, 6.950%, Variable Rate0.88%
AGNC Investment Corp., Series F, 6.125% Variable Rate0.87%
Lincoln National Corporation, Series D, 9.000%0.85%
Annaly Capital Management, Inc., Series G, 6.500% Variable Rate0.82%
Plains All American Pipeline, L.P.0.81%
EPR Properties0.81%
Synchrony Financial, Series B Variable Rate0.80%
Fifth Third Bancorp, Series I, 6.625%, Variable Rate0.79%
Algonquin Power & Utilities Corp., Series 19-A, 6.200%, Variable Rate, Due 07/01/20790.79%
Four Corners Property Trust, Inc.0.78%
Jackson Financial Inc., 8.000%, Variable Rate0.78%
Banc of California, Inc., Series F, 7.75% Variable Rate0.78%
Omega Healthcare Investors, Inc.0.77%
CubeSmart0.77%
CHS Inc., Series 1, 7.875%0.75%
American National Group Inc., Series D, 7.375%0.74%
Apollo Global Management, Inc., 7.625%, Variable Rate, Due 09/15/20530.73%
Plains GP Holdings, L.P. (Class A)0.73%
The Allstate Corporation, 5.100%, Variable Rate, Due 01/15/20530.73%
Pfizer Inc.0.72%
CHS Inc., Series 4, 7.500%0.71%
Reinsurance Group of America, Incorporated, 7.125%, Variable Rate, Due 10/15/20520.70%
Morgan Stanley, Series E, 7.125%, Variable Rate0.70%
Altria Group, Inc.0.69%
Athene Holding Ltd., 7.250% Variable Rate, Due 03/30/20640.69%
Getty Realty Corp.0.68%
Global Partners LP0.67%
Rexford Industrial Realty, Inc.0.66%
Viper Energy, Inc. (Class A)0.66%

Weight gaps

All 12 Holdings in both funds, largest gap first.

Holding weights in ALTY and MDIV, widest gap first
Holding	More in ALTYMore in MDIV	ALTY	MDIV
Firstenergy CorpFE	ALTY +0.92 points	1.30%	0.38%
Northwest Natural Holding CoNWN	ALTY +0.90 points	1.30%	0.40%
Edison InternationalEIX	ALTY +0.80 points	1.30%	0.50%
Avista CorpAVA	ALTY +0.78 points	1.27%	0.49%
Sunoco LpSUN	ALTY +0.79 points	1.33%	0.54%
Enterprise Products PartnersEPD	ALTY +0.54 points	1.21%	0.67%
Energy Transfer LpET	ALTY +0.52 points	1.28%	0.76%
Mplx LpMPLX	ALTY +0.36 points	1.23%	0.87%
Hess Midstream Lp - Class AHESM	ALTY +0.34 points	1.06%	0.72%
Black Stone Minerals LpBSM	ALTY +0.33 points	1.29%	0.96%
Western Midstream Partners LWES	ALTY +0.14 points	1.26%	1.12%
Alliance Resource PartnersARLP	ALTY +0.11 points	1.23%	1.12%

All 20 ALTY holdings⁠All 123 MDIV holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

ALTY vs MDIV Cost

Overpaying MDIV vs ALTY

$3,803

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

ALTY 0.50%
$9,979
MDIV 0.71%
$13,782

Amount$10,000

Years30 years

Cost over time

ALTY 0.50%
MDIV 0.71%
Overpaying

Year by year

Year	ALTY	MDIV	Overpaying
10	$900	$1,267	$367
20	$3,460	$4,824	$1,364
30	$9,979	$13,782	$3,803

Expense ratio

0.50%ALTY, cheaper
0.71%MDIV

ALTY0.50%MDIV0.71%

0.15%1.37%

Middle half of Multi-Asset Income funds
Median 0.71%

ALTY 3rd cheapest of 15 funds

MDIV 8th cheapest of 15 funds

ALTY vs MDIV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): ALTY 7.99%, better; MDIV 7.48%
Payout (12M): ALTY $0.94; MDIV $1.21
Last payment: ALTY $0.08; MDIV $0.08
Ex-dividend: ALTY Oct 5, 2026; MDIV Oct 21, 2026
Paid on: ALTY Oct 13, 2026; MDIV Oct 30, 2026
Frequency: ALTY Monthly; MDIV Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

ALTYMonthly · 45 paymentsAll ALTY payments⁠

MDIVMonthly · 46 paymentsAll MDIV payments⁠

ALTY vs MDIV Risk

Fall from peak · 5 years

ALTY
MDIV

Risk facts

VolatilityStd dev, 3 years: ALTY 7.6%, betterMDIV 8.5%
Return per unit of riskSharpe ratio, 3 years: ALTY 1.00, betterMDIV 0.82
Worst fallMax drawdown, 5 years: ALTY −18.5%MDIV −13.1%, better
Market sensitivityBeta, 5 years: ALTY 0.79MDIV 0.69; Market = 1

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