ETF Evaluator:
iShares Systematic Alternatives Actv ETF ()
Follow This ETF
(as of Nov 13)
Best Performing in Multistrategy Over the Last Year
| 12.9% | First Trust Multi-Strat Alt ETF (LALT) |
| 11.6% | Franklin Systematic Style Premia ETF (FLSP) |
| 6.6% | SEI DBi Multi-Strategy Alternative ETF (QALT) |
| 6.4% | NYLIM Hedge Multi-Strategy Tracker ETF (QAI) |
| 6.1% | ProShares Hedge Replication (HDG) |
Risk
Index
Risk
Index
ETF Details
iShares Systematic Alternatives Actv ETF Overview
iShares Systematic Alternatives Actv ETF (IALT) is an actively managed Alternative Multistrategy exchange-traded fund (ETF). iShares launched the ETF in 2025.
The investment seeks total return over the long term.
The fund seeks to achieve its investment objective by investing in a range of global asset classes and a diversified set of alternative (or non‑traditional) strategies that seek to provide total return in both periods of strong returns and periods of market stress.
About iShares Systematic Alternatives Actv ETF (IALT)
There are 4 members of the management team with an average tenure of 0.89 years: Richard Mathieson (2025), Jeffrey Rosenberg (2025), Stephanie Lee (2025) and Raffaele Savi (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
iShares Systematic Alternatives Actv ETF has 2679 securities in its portfolio. The top 10 holdings constitute 71.7% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
iShares Systematic Alternatives Actv ETF is part of the Alternative Strategies global asset class and is within the Alternative ETF group. iShares Systematic Alternatives Actv ETF has 15.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 15.3% There is 15.6% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 70.1% (70.1% domestic bond, 0.0% foreign bond and 0.0% convertible bond). iShares Systematic Alternatives Actv ETF has 27.3% of the portfolio in cash.
Assets Under Management
The fund has $7 billion in total assets, which is above the $893 million average for the Multistrategy category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
IALT Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The iShares Systematic Alternatives Actv ETF expense ratio is high compared to funds in the Multistrategy category. iShares Systematic Alternatives Actv ETF has an expense ratio of 0.99%, which is 38% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. iShares Systematic Alternatives Actv ETF has a portfolio turnover rate of 181%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 91% for the Multistrategy category.
Recently, in the month of October 2026, iShares Systematic Alternatives Actv ETF returned -0.8%, which earned it a grade of D, as the Multistrategy category had an average return of -0.0%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
iShares Systematic Alternatives Actv ETF has a trailing yield of 0.00%, which is below the 3.51% category average.
The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
iShares Systematic Alternatives Actv ETF Grades
Year to date, the ETF has returned 17.0%, 12.2 percentage points better than the category, which translates into a grade of A.
For more ETF grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about iShares Systematic Alternatives Actv ETF, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
IALT Trailing NAV Total Returns Data as of 10/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| IALT Return (NAV) | -0.8% | 3.1% | na | na | na | na |
| IALT Return (Price) | -1.3% | 2.8% | na | na | na | na |
| NAV +/- Price Return | 0.524% | 0.343% | na | na | na | na |
| Multistrategy Avg | -0.0% | 1.6% | 1.5% | 4.7% | 5.2% | 3.7% |
| IALT Grade (NAV) | D | A | na | na | na | na |
| +/- Category (NAV) | -0.8% | 1.6% | na | na | na | na |
| IALT Tax-Cost Ratio | na | na | na | na | na | na |
IALT Annual NAV Total ReturnsData as of 10/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| IALT Return (NAV) | 17.0% | na | na | na | na | na | na | na | na | na | na |
| IALT Return (Price) | 16.8% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.013% | na | na | na | na | na | na | na | na | na | na |
| Multistrategy Avg | 4.8% | 2.8% | 6.7% | 6.5% | -5.8% | 4.8% | -0.6% | 9.0% | -3.7% | 5.9% | 1.5% |
| IALT Grade (NAV) | A | na | na | na | na | na | na | na | na | na | na |
| +/- Category | 12.2% | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | -- |
| Total Assets: | $ 7,866 Mil |
| Share Class Assets: | $ 7,866 Mil |
| Turnover: | 181.0% |
| Expense Ratio: | 0.99% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 0.9 years | |||
| Average Tenure: 0.9 years | |||
| Managers (Year): Mathieson Richard (2025), Rosenberg Jeffrey (2025), Lee Stephanie (2025), Savi Raffaele (2025) | |||
Portfolio Composition (as of 10/30/26)
| # of Holdings: | 2679 |
| % in Top 10 Holdings: | 71.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 15.6% |
Portfolio Allocation |
|
| Domestic Stock: | 15.3% |
| Foreign Stock: | 15.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 70.1% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | -28.3% |
| Cash: | 27.3% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | iShares |
| Phone Number: | 800-474-2737 |
| Website: | www.blackrock.com |
| Inception Date: | December 9, 2025 |
Expenses and Fees
| Expense Ratio (%): | 0.99% (Rating: High) |
| Category Average Expense Ratio (%): | 0.72% |
