FARX vs QALT: Grades, Fees and Holdings Compared

Frontier Asset Absolute Return ETF

FARXBNYSE Arca

SEI DBi Multi-Strategy Alternative ETF

QALTANasdaq

Overlap

0.0%by weight

Expense ratio

QALT −0.15pt a year

FARX0.95%QALT0.80%

Avg volume · 30D

QALT 6.6×the volume

FARX2.7KQALT17.7K

FARX vs QALT Performance

Nov 7, 2025 – Nov 9, 2026

+12.2%FARX+6.9%QALT

Expense ratio: FARX 0.95%; QALT 0.80%, better
Fund size: FARX $15M; QALT $194M
1Y total return: FARX +12.2%, better; QALT +6.9%
Yield (12M): FARX 2.78%; QALT No data
Holdings: FARX 14; QALT 27
Avg volume (30D): FARX 2.7K sh; QALT 17.7K sh, better
NAV per share: FARX $29.13; QALT $25.77
52W range

ETF.net Grade

Pillar letters and Scores for FARX, QALT, with each pillar’s weight
Pillar	FARX	QALT
Cost30% weight	A74	A90Higher
Mission25% weight	B58	Not scored
Risk15% weight	A77Higher	A70
Tradability15% weight	C53	B59Higher
Holdings10% weight	D31	Not scored
Durability5% weight	F22	B64Higher

Rank among Alternative Strategies funds

How we build Categories ›

Same Category. FARX and QALT are both graded against the same 29 Alternative Strategies funds, so their Grades compare head to head.

Alternative Strategies⁠

Category · 29 funds

See all 29 ›

QALT ranks 4th and FARX 8th of 29 funds in the Alternative Strategies Category.

Rank 1AFLSPFranklin Systematic Style Premia ETFScore 78
Rank 1AHBDCHilton BDC Corporate Bond ETFScore 78
Rank 3AQAINYLI Hedge Multi-Strategy Tracker ETFScore 76
Rank 4AQALTSEI DBi Multi-Strategy Alternative ETFScore 75
Rank 5BRNMNRiverNorth Market Neutral ETFScore 68
Rank 7BHDGProShares Hedge Replication ETFScore 62
Rank 8BFARXFrontier Asset Absolute Return ETFScore 61
Rank 9BLALTFirst Trust Multi-Strategy Alternative ETFScore 58

Our read on each fund

ETF.net Research

FARXBFrontier Asset Absolute Return ETF

QALTASEI DBi Multi-Strategy Alternative ETF

In short

FARX No data

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

FARX No data

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

FARX No data

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

FARX No data

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 FARX profile⁠

Full QALT profile⁠

FARX vs QALT Holdings

How FARX and QALT differ

Overlap by weight

0.0%

Level by level

Asset classStocks, Alternatives0.0%
Holdings0 in both0.0%
Sector15 Sectors45.8%
Countryby domicile79.4%

Sector

Sector weights in FARX and QALT, widest gap first
Sector	Gap	FARX	QALT
Government	FARX +38.8 points	38.8%	0.0%
Technology	QALT +17.1 points	10.3%	27.4%
Corporate	FARX +10.2 points	10.2%	0.0%
Industrials	QALT +10.0 points	5.9%	15.9%
Health Care	QALT +8.2 points	5.2%	13.3%
Financials	QALT +6.4 points	7.2%	13.6%
Securitized	FARX +5.1 points	5.1%	0.0%
Consumer Discretionary	QALT +3.4 points	4.6%	8.0%
Real Estate	QALT +3.3 points	0.9%	4.2%
Materials	QALT +2.1 points	2.3%	4.4%
Communication	QALT +1.7 points	2.5%	4.2%
Energy	QALT +1.3 points	2.6%	3.9%
Utilities	QALT +0.8 points	1.3%	2.1%
Consumer Staples	FARX +0.1 points	3.1%	3.0%
Municipal	Same weight	0.0%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in FARX and QALT, widest gap first
Country	Gap	FARX	QALT
United Kingdom	FARX +13.4 points	15.5%	2.1%
Taiwan	QALT +5.1 points	0.0%	5.1%
South Korea	QALT +3.8 points	0.0%	3.8%
China	QALT +3.3 points	0.1%	3.4%
Japan	QALT +2.5 points	0.0%	2.5%
Canada	FARX +2.2 points	2.4%	0.2%
India	QALT +1.9 points	0.0%	1.9%
Australia	FARX +1.4 points	2.1%	0.7%
Other countries (31)	QALT +0.4 points	79.9%	80.3%

Outside the US: FARX 94% developed, 6% emerging. QALT 39% developed, 61% emerging.

Concentration

Weight in the 10 largest Holdings

FARX92.4%
QALT82.3%

Securities held

FARX13
QALT26

Asset class

FARX: Stocks
QALT: Alternatives

Holdings

Only in FARX13
In both0
Only in QALT26

Only in FARX

13 securities, 99.6% of FARX by weight

Vanguard Short-Term Bond Etf21.80%
Harbor Commodity All Weather17.66%
American Beacon Ahl Trend16.05%
Wisdomtree Floating Rate Tre8.78%
Imgp Dbi Mft Str Etf-Usd Inc7.00%
Vanguard Short-Term Tips4.45%
Ishares High Yield Systemati4.43%
Ishares Us Smallcap Equity F4.34%
JPMorgan Ultra-Short Income4.30%
Janus Henderson Aaa Clo Etf3.55%
Avantis Intl S/C Value Etf2.75%
Ishares Msci Usa Momentum Fa2.46%
Vanguard Dividend Apprec Etf2.07%

Only in QALT

26 securities, 29.9% of QALT by weight

Coca-Cola Co 0CP 11/20/261.46%
Sanofi 0 % Cp 12/14/20261.45%
Roche Holdings 0 11/12/261.45%
Toyotamotor 0CP 01/21/271.36%
Fhlbdn 01/05/271.34%
Fhlbdn 12/04/261.33%
Ciscosystems 0CP 12/16/261.29%
Caterpillar 0 Cp 11/10/261.29%
Walmartinc 0CP 12/21/261.28%
Fhlbdn 12/28/261.25%
NESTLEFINANCE0CP 11/19/261.24%
PROCTER&GAMBL0CP 10/13/261.21%
Unilever Capital Corp1.18%
Fhlbdn 12/22/261.17%
Fhlbdn 01/19/271.16%
John Deere 0CP 12/18/20261.14%
Svenska Handelsbanken 0CP1.13%
Apple Inc1.13%
Fhlbdn 11/13/261.10%
Archer DANIELS0CP 12/9/261.09%
TORONTODOMINIO0CP 12/7/261.05%
Fhlbdn 01/14/271.04%
Fhlbdn 11/18/261.03%
Fhlbdn 12/07/260.93%
JOHNSON&JOHNS Cp 11/16/260.78%
B 01/05/270.05%

Weight gaps

FARX and QALT share no securities.

All FARX holdings⁠All 42 QALT 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.

FARX vs QALT Cost

Overpaying FARX vs QALT

$2,523

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

FARX 0.95%
$17,869
QALT 0.80%
$15,346

Amount$10,000

Years30 years

Cost over time

FARX 0.95%
QALT 0.80%
Overpaying

Year by year

Year	FARX	QALT	Overpaying
10	$1,678	$1,422	$256
20	$6,322	$5,393	$929
30	$17,869	$15,346	$2,523

Expense ratio

0.95%FARX
0.80%QALT, cheaper

QALT0.80%FARX0.95%

0.39%10.91%

Middle half of Alternative Strategies funds
Median 1.13%

QALT 4th cheapest of 29 funds

FARX 7th cheapest of 29 funds

FARX vs QALT Dividends

Last 12 months to Nov 9, 2026

Yield (12M): FARX 2.78%; QALT No data
Payout (12M): FARX $0.81; QALT No data
Last payment: FARX $0.10; QALT $0.17
Ex-dividend: FARX Sep 29, 2026; QALT Oct 5, 2026
Paid on: FARX Oct 6, 2026; QALT Oct 6, 2026
Frequency: FARX Quarterly; QALT Quarterly

Distribution history

Per share, 2024 to 2026, same scale for both

FARXQuarterly · 8 paymentsAll FARX payments⁠

QALTQuarterly · 5 paymentsAll QALT payments⁠

FARX vs QALT Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: FARX 5.0%since Jan 2025QALT 7.2%since Sep 2025
Return per unit of riskSharpe ratio, 3 years: FARX 1.54since Jan 2025QALT 0.77since Sep 2025
Worst fallMax drawdown, 5 years: FARX −5.8%since Dec 2024QALT −4.9%since Aug 2025
Market sensitivityBeta, 5 years: FARX 0.22QALT 0.24; Market = 1

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