First Trust Multi-Strategy Alternative ETF (LALT)

First Trust Multi-Strategy Alternative ETF (LALT) is an exchange-traded fund in the Multistrategy category. It has $389.50M in assets, an expense ratio of 1.18% and a 3.98% dividend yield. The fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by allocating its assets amongst a variety of alternative asset categories and strategies in an effort to provide lower correlation and diversifying risk exposures compared to traditional equity and fixed income benchmarks (e.g., the S&P 500® Index or Bloomberg Aggregate Bond Index) over various market cycles. The fund is non-diversified.