ETF Evaluator: SEI DBi Multi-Strategy Alternative ETF () Follow This ETF

SEI DBi Multi-Strategy Alternative ETF Overview

SEI DBi Multi-Strategy Alternative ETF (QALT) is an actively managed Alternative Multistrategy exchange-traded fund (ETF). SEI launched the ETF in 2023.

The investment seeks long-term capital appreciation. Under normal circumstances, the fund will take long and short positions in investments that provide broad exposure to the global equity, fixed income and currency markets. The fund will invest primarily in exchange-traded derivative instruments, including futures, options, and swaps, but to a lesser extent may invest in derivative instruments that are traded over-the-counter, such as forwards.

About SEI DBi Multi-Strategy Alternative ETF (QALT)

There are 3 members of the management team with an average tenure of 3.09 years: Radoslav Koitchev (2023), Andrew Beer (2023) and Mathias Mamou-Mani (2023). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and ICE BofA US 3M Trsy Bill TR USD index with a weighting of 100%. SEI DBi Multi-Strategy Alternative ETF has 49 securities in its portfolio. The top 10 holdings constitute 165.7% 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.

SEI DBi Multi-Strategy Alternative ETF is part of the Alternative Strategies global asset class and is within the Alternative ETF group. SEI DBi Multi-Strategy Alternative ETF has 41.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 47.9% There is 41.4% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is -201.1% (-201.1% domestic bond, 0.0% foreign bond and 0.0% convertible bond). SEI DBi Multi-Strategy Alternative ETF has 211.8% of the portfolio in cash.

Assets Under Management

The fund has $194 million in total assets, which is below the $664 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.

QALT 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 SEI DBi Multi-Strategy Alternative ETF expense ratio is high compared to funds in the Multistrategy category. SEI DBi Multi-Strategy Alternative ETF has an expense ratio of 0.80%, which is 9% higher than its category average, making the fund expense ratio grade a C. 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. SEI DBi Multi-Strategy Alternative ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 100% for the Multistrategy category.

Recently, in the month of July 2026, SEI DBi Multi-Strategy Alternative ETF returned 0.1%, which earned it a grade of C, 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.

SEI DBi Multi-Strategy Alternative ETF has a trailing yield of 3.58%, which is above the 2.91% 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.

SEI DBi Multi-Strategy Alternative ETF Grades

Year to date, the ETF has returned 7.3%, 4.4 percentage points better than the category, which translates into a grade of C. The fund has returned 14.5% over the past year (grade of C) and 7.5% over the past three years (grade of D).

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