EDGH vs QALT

EDGHB3EDGE Dynamic Hard Assets ETF

QALTASEI DBi Multi-Strategy Alternative ETF

In short

EDGH Hard assets, rented rather than owned: at least 80% of net assets goes into hard-asset exposure bought through other ETFs and derivatives, with an active manager free to dial that mix up or down as conditions shift.

QALT One ticker, several hedge fund playbooks: SEI stacks sub-advisers running directional, event-driven and arbitrage strategies, and measures itself against 3-month T-bills instead of the S&P 500. It undercuts the typical alternatives fund on fees.

Stated mandate

EDGH The Fund aims to grow capital when markets rise and reduce losses when markets fall.

QALT The fund seeks positive absolute returns across market cycles with reduced correlation to stocks and bonds. It pursues this through multiple underlying funds and sub-advisers using directional or tactical, event-driven, and arbitrage approaches.

Why people hold it

• EDGH Two-sided mandate: it seeks capital appreciation in rising markets while aiming to limit losses in declines, so the manager can trim hard-asset exposure instead of riding it down.sec.gov
• Exposure arrives through ETFs and derivatives, not vaults or barrels, inside a standard 1940 Act fund rather than a commodity partnership.sec.gov
• All-in cost is 1.01%: a 0.70% management fee plus the underlying funds it owns. That lands under the median fee for its alternatives peer group.sec.gov
• For a young fund in a niche corner, shares change hands regularly, which helps keep the cost of getting in and out contained.

• QALT Charges 0.80% a year against a 1.07% median for alternatives funds. Multi-manager hedge fund exposure usually bills more than that.
• Not a one-trick fund. Directional or tactical, event-driven and arbitrage sleeves run side by side through several underlying funds and sub-advisers.
• The yardstick is 3-month T-bills, the cash hurdle hedge funds get judged on. The stated aim is positive absolute return with reduced correlation to stocks and bonds.
• Screens near the top of its alternatives peer group, and comes in under pricier multi-strategy options such as HFGM and HDG at 0.95%.

Worth knowing

• EDGH It launched in October 2024, so the record is short, and hard assets can sit out of favor for long stretches.
• Actively managed with no index to check it against: what you own depends on the manager's calls about when hard assets deserve more room.sec.gov
• Part of the 1.01% is the fees of the ETFs it buys, stacked on the 0.70% management fee. Cheaper cohort options exist (RNMN 0.59%, QALT 0.80%) with different strategies.sec.gov

• QALT Launched in 2025, so there is no long record showing how this manager lineup behaves through a full market cycle.
• Trading is thin next to big index ETFs, which can mean wider spreads when you get in or out.
• Not the cheapest seat in the aisle: RNMN (0.59%) and CCEF (0.74%) charge less, though each runs a narrower strategy set than a multi-manager book.

Full EDGH profile⁠

Full QALT profile⁠