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IALT vs SPY

Comparison between iShares Systematic Alternatives Active ETF (IALT, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

IALT vs SPY - Performance Comparison

Key Characteristics

Financial metrics and valuation ratios

Net Assets
IALT
$4.80B
Winner
SPY
$781B
Expense Ratio
IALT
0.99%
Winner
SPY
0.09%
Max Drawdown
Winner
IALT
2.27%
SPY
56.47%
Sharpe Ratio
Winner
IALT
2.55
SPY
1.25
5Y Beta
Winner
IALT
0.30
SPY
1.00
P/E Ratio
IALT
N/A
SPY
28.78
Forward P/E
IALT
N/A
SPY
21.23
5Y Dividends CAGR
IALT
N/A
SPY
6.00%
5Y EPS CAGR
IALT
N/A
SPY
25.62%
Debt to Equity
IALT
N/A
SPY
31.92%
P/S Ratio
IALT
N/A
SPY
3.76
P/B Ratio
IALT
N/A
SPY
5.64

IALT vs SPY - Holdings Comparison

IALT and SPY have 449 common holdings. Overlap is -24.54%

IALT's top 25 holdings weight is 190.37%. SPY's top 25 holdings weight is 51.74%.

RankIALTSPY
#1
CASH OFFSET (n/a) - 26.98%
NVIDIA CORP (NVDA) - 7.89%
#2
EUR/USD PURCHASED (n/a) - 16.38%
APPLE INC (AAPL) - 7.37%
#3
AUD/USD PURCHASED (n/a) - 14.38%
MICROSOFT CORP (MSFT) - 4.50%
#4
GBP/USD PURCHASED (n/a) - 13.96%
AMAZON.COM INC (AMZN) - 3.82%
#5
BRL/USD PURCHASED (n/a) - 11.89%
ALPHABET INC CLASS A (GOOGL) - 3.33%
#6
CNY/USD PURCHASED (n/a) - 11.27%
BROADCOM INC (AVGO) - 2.86%
#7
ZAR/USD PURCHASED (n/a) - 10.73%
ALPHABET INC CLASS C (GOOG) - 2.68%
#8
CAD/USD PURCHASED (n/a) - 9.54%
META PLATFORMS INC CLASS A (META) - 2.29%
#9
INR/USD PURCHASED (n/a) - 9.50%
TESLA INC (TSLA) - 1.70%
#10
CHF/EUR PURCHASED (n/a) - 8.77%
MICRON TECHNOLOGY INC (MU) - 1.56%
#11
NZD/USD PURCHASED (n/a) - 8.59%
JPMORGAN CHASE & CO (JPM) - 1.42%
#12
NOK/EUR PURCHASED (n/a) - 8.41%
ELI LILLY AND CO (LLY) - 1.40%
#13
JPY/USD PURCHASED (n/a) - 6.47%
BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.37%
#14
MXN/USD PURCHASED (n/a) - 6.09%
ADVANCED MICRO DEVICES INC (AMD) - 1.32%
#15
SEK/EUR PURCHASED (n/a) - 5.88%
EXXONMOBIL HOLDINGS CORP (XOM) - 0.92%
#16
n/a (n/a) - 5.84%
JOHNSON & JOHNSON (JNJ) - 0.91%
#17
KRW/USD PURCHASED (n/a) - 5.34%
VISA INC CLASS A (V) - 0.90%
#18
SGD/USD PURCHASED (n/a) - 3.95%
WALMART INC (WMT) - 0.76%
#19
ICE: (CDX.NA.IG.46.V1) (n/a) - 1.01%
INTEL CORP (INTC) - 0.75%
#20
n/a (n/a) - 0.99%
APPLIED MATERIALS INC (AMAT) - 0.70%
#21
CHF CASH (n/a) - 0.93%
CISCO SYSTEMS INC (CSCO) - 0.68%
#22
ICE: (ITRAXX.EUR.45.V1) (n/a) - 0.90%
MASTERCARD INC CLASS A (MA) - 0.66%
#23
AXA SA (n/a) - 0.88%
ABBVIE INC (ABBV) - 0.66%
#24
PARKER HANNIFIN CORP (PH) - 0.87%
CATERPILLAR INC (CAT) - 0.65%
#25
TWD/USD PURCHASED (n/a) - 0.82%
LAM RESEARCH CORP (LRCX) - 0.64%
Total Holdings1705505

IALT vs SPY - Historical Returns

Returns include dividend reinvestment.

1M
Winner
IALT
+1.69%
SPY
+0.52%
3M
IALT
+4.99%
Winner
SPY
+6.55%
6M
Winner
IALT
+11.73%
SPY
+9.76%
1Y
IALT
N/A
SPY
+20.32%
5Y(CAGR)
IALT
N/A
SPY
+13.01%
10Y(CAGR)
IALT
N/A
SPY
+15.06%
Max(CAGR)
Winner
IALT
+25.94%
SPY
+8.50%

IALT vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

YearIALTSPY
2026+13.97%+10.11%
2025+0.73%+18.00%
2024N/A+25.59%
2023N/A+26.72%
2022N/A-18.64%
2021N/A+30.52%
2020N/A+17.28%
2019N/A+31.09%
2018N/A-5.24%
2017N/A+20.78%
2016N/A+13.59%
2015N/A+1.31%
2014N/A+14.56%
2013N/A+29.00%
2012N/A+14.17%
2011N/A+0.85%
2010N/A+13.14%
2009N/A+22.67%
2008N/A-36.25%
2007N/A+5.32%
2006N/A+13.85%
2005N/A+5.32%
2004N/A+10.75%
2003N/A+24.18%
2002N/A-22.42%
2001N/A-10.13%
2000N/A-8.84%
1999N/A+8.61%

IALT vs SPY Drawdown Comparison

The maximum drawdown for IALT was -2.27%, occurring on Jun 10, 2026. Recovery took 33 trading sessions.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current SPY drawdown is -1.24%.

RankIALTSPY
#1-2.27%
Jun 2, 2026 - Jul 21, 2026		-55.20%
Oct 9, 2007 - Aug 16, 2012
#2-1.47%
Apr 10, 2026 - Apr 24, 2026		-47.50%
Mar 24, 2000 - Oct 26, 2006
#3-1.28%
Feb 3, 2026 - Feb 6, 2026		-33.70%
Feb 19, 2020 - Aug 10, 2020
#4-1.12%
Mar 10, 2026 - Mar 17, 2026		-24.50%
Jan 3, 2022 - Dec 13, 2023
#5-0.81%
Jan 14, 2026 - Jan 27, 2026		-19.34%
Sep 20, 2018 - Apr 12, 2019
#6-0.79%
May 18, 2026 - Jun 1, 2026		-18.76%
Feb 19, 2025 - Jun 26, 2025
#7-0.76%
Feb 10, 2026 - Feb 20, 2026		-13.02%
Jul 20, 2015 - Apr 18, 2016
#8-0.74%
Jan 29, 2026 - Feb 3, 2026		-10.10%
Jan 26, 2018 - Aug 6, 2018
#9-0.61%
Mar 2, 2026 - Mar 4, 2026		-9.44%
Sep 2, 2020 - Nov 11, 2020
#10-0.61%
May 13, 2026 - May 18, 2026		-9.30%
Jan 19, 2000 - Mar 17, 2000
#11-0.60%
Mar 25, 2026 - Mar 31, 2026		-9.05%
Jul 19, 2007 - Oct 5, 2007
#12-0.57%
Apr 27, 2026 - Apr 30, 2026		-8.88%
Jan 27, 2026 - Apr 14, 2026
#13-0.54%
Dec 10, 2025 - Dec 19, 2025		-8.41%
Jul 16, 2024 - Sep 19, 2024
#14-0.46%
May 1, 2026 - May 11, 2026		-7.35%
Sep 14, 2012 - Jan 2, 2013
#15-0.45%
Dec 24, 2025 - Jan 5, 2026		-7.27%
Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between IALT and SPY is 0.73 which considered as a strong positive correlation - the stocks tend to move together.

0.73
-101

Dividend Comparison (1999 - 2026)

IALT vs SPY dividend yield comparison.

YearIALTSPY
20260.27%0.49%
20250.14%1.07%
20240.00%1.21%
20230.00%1.40%
20220.00%1.65%
20210.00%1.20%
20200.00%1.52%
20190.00%1.75%
20180.00%2.04%
20170.00%1.80%
20160.00%2.03%
20150.00%2.06%
20140.00%1.87%
20130.00%1.81%
20120.00%2.18%
20110.00%2.05%
20100.00%1.80%
20090.00%1.95%
20080.00%3.02%
20070.00%1.85%
20060.00%1.73%
20050.00%1.73%
20040.00%1.82%
20030.00%1.47%
20020.00%1.70%
20010.00%1.25%
20000.00%1.15%
19990.00%0.24%

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