IALT vs SPY
iShares Systematic Alternatives Active ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, IALT or SPY?
Multi Alternative against Large Cap Blend.
SPY has a lower expense ratio.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | IALT | SPY |
|---|---|---|
| Expense Ratio | 0.99% | 0.09%Best |
| AUM | $7.0B | $811.2B |
| Dividend Yield | 0.39% | 0.98% |
| Holdings | 2,527 | 1,515 |
| YTD Return | +17.92%Best | +12.70% |
| 1Y Return | - | +15.53% |
| 3Y Return (annualized) | - | +22.86% |
| 5Y Return (annualized) | - | +13.47% |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Multi Alternative | Large Cap Blend |
| Inception | Dec 9, 2025 | Jan 22, 1993 |
Not shown on this pair: Volatility (annualized), Max Drawdown, $10,000 over the window, Top 10 Weight.
IALT vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
IALT vs SPY Performance
iShares Systematic Alternatives Active ETF (IALT) is an ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Year to date, IALT is up 17.92% versus a gain of 12.70% for SPY.
Past performance does not guarantee future results.
Fees and Cost Over Time
IALT charges 0.99% per year while SPY charges 0.09%. On a $10,000 position that is $99 vs $9 annually, a gap of $90 per year that compounds over a long holding period. On income, IALT currently yields 0.39% against 0.98% for SPY.
Holdings Overlap
At least 97.9% of SPY's money is in holdings IALT also owns.
Only one direction is shown: for IALT, our book for it lists positions totalling 106.3% of the fund, which is what a leveraged book looks like and is not a denominator we can divide by.
Most of SPY is already inside IALT. Owning both mostly buys the same companies twice.
477 positions in common, counted across the 1,699 positions we hold weights for in IALT and 504 in SPY, against full books of 2,527 and 1,515.
Top Shared Holdings
| Stock | Weight in IALT | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 0.12% | 7.78% | 7.66% |
| AAPLApple, Inc | 0.03% | 7.45% | 7.42% |
| MSFTMicrosoft Corp | 0.15% | 5.71% | 5.56% |
| AMZNAmazon.Com Inc | 0.02% | 3.78% | 3.76% |
| GOOGLAlphabet Inc,class A | 0.11% | 3.12% | 3.01% |
| GOOGAlphabet Inc. C | 0.17% | 2.49% | 2.32% |
| AVGOBroadcom Inc | 0.04% | 2.48% | 2.44% |
| METAMeta Platforms Inc | 0.08% | 2.22% | 2.14% |
| MUMicron Technology, Inc. | 0.08% | 1.59% | 1.51% |
| COSTCostco Wholesale Corp. | 0.86% | 0.62% | 0.24% |
97.9% of SPY is already inside IALT.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, IALT or SPY?
IALT has an expense ratio of 0.99% while SPY charges 0.09%. SPY is the cheaper option, by $90 a year on a $10,000 investment.
What is the holdings overlap between IALT and SPY?
At least 97.9% of SPY's money is in holdings IALT also owns. Our book for IALT is partial, so the real figure is this or higher. They hold 477 positions in common, counted across the 1,699 positions we hold weights for in IALT and 504 in SPY.
Which pays a higher dividend, IALT or SPY?
IALT yields 0.39% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than IALT?
SPY has a lower expense ratio. Which one suits a particular account depends on what it is for. This is information, not a recommendation.