Fund Evaluator:
First Trust Multi-Strat Alt ETF (LALT)
Follow This Fund
Alternative Strategies
Global Asset Class
Alternative
Fund Group
Multistrategy
Category
$0.000
NAV (as of )
$0.00
Minimum Initial
1.18% F
Expense Ratio
$295 Mil
Assets
Open
Status
0.00%
12b-1 Fee
3.74%
TTM Yield
0.00%
Max Load
31%
Portfolio Turnover
Best Performing in Multistrategy Over the Last Year
| 35.9% | AQR Alternative Risk Premia N (QRPNX) |
| 21.4% | AQR Style Premia Alternative N (QSPNX) |
| 14.2% | Goldman Sachs Multi-Strategy Alts Inv (GIMMX) |
| 13.0% | AQR Diversifying Strategies N (QDSNX) |
| 12.7% | Blackstone Alternative Multi-Strategy Y (BXMYX) |
Data as of 7/31/2026
0.7% A
1-Mo Return
-2.4% D
3-Mo Return
8.6% A
YTD Return
16.3% A
1-Yr Return
9.1% A
3-Yr Return
na
5-Yr Return
0.66 A
Category Risk Index
0.41
Total Risk Index
Fund Details
Fund Family
First Trust
Inception Date
1/31/2023
Share Class Type
Equity Investment Style
Large-Cap
Blend
Bond Investment Style
High Quality
Limited Sensitivity
Socially Responsible Fund
No
Index Fund
No
Benchmark Index
S&P 500 (TR) (1970): 100%
Additional Fund Details
First Trust Multi-Strat Alt ETF Overview
LALT Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| LALT Return (NAV) | 0.7% | -2.4% | 16.3% | 9.1% | na | na |
| LALT Grade | A | D | A | A | na | na |
| +/- Category | -0.1% | -4.2% | 5.5% | 1.4% | na | na |
| Multistrategy Avg | 0.8% | 1.8% | 10.8% | 7.7% | 5.3% | 3.7% |
| LALT Tax Cost Ratio | na | na | 1.5% | 1.1% | na | na |
LALT Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| LALT Return (NAV) | 8.6% | 10.7% | 8.7% | na | na | na | na | na | na | na | na |
| LALT Grade | A | A | A | na | na | na | na | na | na | na | na |
| +/- Category | 3.3% | 2.9% | 2.6% | na | na | na | na | na | na | na | na |
| Multistrategy Avg | 5.3% | 7.8% | 6.1% | 6.4% | -0.4% | 6.2% | 2.0% | 7.0% | -4.9% | 5.0% | 2.0% |
| Risk Measures | |
| Standard Deviation: | 5.0% |
| Total Risk Index: | 0.41 - Low |
| Category Risk Index: | 0.66 - Below Average |
| Category Risk Grade: | B (29% Rank) |
| Beta: | 0.14 |
| R-Squared: | 13% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 3.7% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $295 Mil |
| Fund Total Assets: | $ 295 Mil |
| Share Class Type: | |
| Portfolio Turnover: | 31% |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 3.5 years | |||
| Average Tenure: 3.5 years | |||
| Managers (Year): Lindquist Daniel (2023), McGarel David (2023), Gambla John (2023), Peterson Chris (2023), Guttschow Rob (2023) | |||
Portfolio Composition (as of 7/30/26)
| # of Holdings: | 8 |
| % in Top 10 Holdings: | 100.0% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 5.9% |
Portfolio Allocation |
|
| Domestic Stock: | 20.9% |
| Foreign Stock: | 3.9% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 13.7% |
| Foreign Bond: | 2.0% |
| Convertible Bond: | 0.0% |
| Other: | 6.1% |
| Cash: | 53.5% |
Purchase Information
| Fund Family: | First Trust |
| Phone Number: | 800-621-1675 |
| Website: |
| Status: | Open |
| Inception Date: | January 31, 2023 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.18% ( Rating : High ) |
| Category Average Expense Ratio (%): | 2.05% |
| Share Class: | First Trust Multi-Strat Alt ETF |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
Copyright 2026 American Association of Individual Investors and Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.