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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
$210M
Winner
SPY
$735B
Expense Ratio
IALT
0.99%
Winner
SPY
0.09%
Max Drawdown
Winner
IALT
1.47%
SPY
56.47%
Sharpe Ratio
Winner
IALT
2.82
SPY
1.62
5Y Beta
Winner
IALT
0.27
SPY
1.00
P/E Ratio
IALT
N/A
SPY
28.99
Forward P/E
IALT
N/A
SPY
22.37
5Y Dividends CAGR
IALT
N/A
SPY
5.43%
5Y EPS CAGR
IALT
N/A
SPY
26.05%
Debt to Equity
IALT
N/A
SPY
32.40%
P/S Ratio
IALT
N/A
SPY
3.74
P/B Ratio
IALT
N/A
SPY
5.61

IALT vs SPY - Holdings Comparison

IALT and SPY have 449 common holdings. Overlap is -22.63%

IALT's top 25 holdings weight is 156.45%. SPY's top 25 holdings weight is 52.37%.

RankIALTSPY
#1
CASH OFFSET (n/a) - 21.13%
NVIDIA CORP (NVDA) - 8.10%
#2
CNY/USD PURCHASED (n/a) - 13.10%
APPLE INC (AAPL) - 7.02%
#3
BRL/USD PURCHASED (n/a) - 13.09%
MICROSOFT CORP (MSFT) - 4.79%
#4
EUR/USD PURCHASED (n/a) - 12.45%
AMAZON.COM INC (AMZN) - 4.02%
#5
CAD/USD PURCHASED (n/a) - 11.50%
ALPHABET INC CLASS A (GOOGL) - 3.51%
#6
AUD/USD PURCHASED (n/a) - 9.64%
BROADCOM INC (AVGO) - 3.10%
#7
INR/USD PURCHASED (n/a) - 8.48%
ALPHABET INC CLASS C (GOOG) - 2.79%
#8
CHF/EUR PURCHASED (n/a) - 8.42%
META PLATFORMS INC CLASS A (META) - 2.08%
#9
ZAR/USD PURCHASED (n/a) - 7.64%
TESLA INC (TSLA) - 1.89%
#10
GBP/USD PURCHASED (n/a) - 7.16%
MICRON TECHNOLOGY INC (MU) - 1.56%
#11
NZD/USD PURCHASED (n/a) - 6.76%
BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.37%
#12
JPY/USD PURCHASED (n/a) - 6.03%
ELI LILLY AND CO (LLY) - 1.31%
#13
NOK/EUR PURCHASED (n/a) - 5.95%
JPMORGAN CHASE & CO (JPM) - 1.28%
#14
SEK/EUR PURCHASED (n/a) - 5.48%
ADVANCED MICRO DEVICES INC (AMD) - 1.27%
#15
MXN/USD PURCHASED (n/a) - 5.39%
EXXON MOBIL CORP (XOM) - 0.97%
#16
KRW/USD PURCHASED (n/a) - 3.64%
INTEL CORP (INTC) - 0.90%
#17
SGD/USD PURCHASED (n/a) - 1.71%
JOHNSON & JOHNSON (JNJ) - 0.86%
#18
CHF CASH (n/a) - 1.64%
VISA INC CLASS A (V) - 0.85%
#19
SEK CASH (n/a) - 1.61%
WALMART INC (WMT) - 0.81%
#20
ICE: (CDX.NA.IG.46.V1) (n/a) - 1.26%
CISCO SYSTEMS INC (CSCO) - 0.72%
#21
DKK CASH (n/a) - 1.17%
COSTCO WHOLESALE CORP (COST) - 0.69%
#22
ICE: (ITRAXX.XO.45.V1) (n/a) - 0.96%
CATERPILLAR INC (CAT) - 0.66%
#23
3M CO (MMM) - 0.78%
MASTERCARD INC CLASS A (MA) - 0.62%
#24
SGD CASH (n/a) - 0.74%
LAM RESEARCH CORP (LRCX) - 0.62%
#25
INTESA SANPAOLO (n/a) - 0.72%
ABBVIE INC (ABBV) - 0.58%
Total Holdings1757505

IALT vs SPY - Historical Returns

Returns include dividend reinvestment.

1M
IALT
+0.86%
Winner
SPY
+1.90%
3M
IALT
+6.71%
Winner
SPY
+8.55%
6M
Winner
IALT
+12.66%
SPY
+8.18%
1Y
IALT
N/A
SPY
+25.79%
5Y(CAGR)
IALT
N/A
SPY
+13.32%
10Y(CAGR)
IALT
N/A
SPY
+15.19%
Max(CAGR)
Winner
IALT
+27.88%
SPY
+8.47%

IALT vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

YearIALTSPY
2026+11.53%+8.26%
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 -1.47%, occurring on Apr 14, 2026. Recovery took 10 trading sessions.

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

The current IALT drawdown is -1.22%. The current SPY drawdown is -2.90%.

RankIALTSPY
#1-1.47%
Apr 10, 2026 - Apr 24, 2026		-55.20%
Oct 9, 2007 - Aug 16, 2012
#2-1.28%
Feb 3, 2026 - Feb 6, 2026		-47.50%
Mar 24, 2000 - Oct 26, 2006
#3-1.22%
Jun 2, 2026 - Jun 5, 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 0.66 which considered as a moderate positive correlation - the stocks show some tendency to move together.

0.66
-101

Dividend Comparison (1999 - 2026)

IALT vs SPY dividend yield comparison.

YearIALTSPY
20260.00%0.24%
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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