iShares Systematic Alternatives Active ETF
Actively managed U.S. alternative fund
The iShares Systematic Alternatives Active ETF (the Fund) seeks total return over the long term.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
United States Treasury | 16.02% | $33.69M | — |
United States Treasury | 14.96% | $31.46M | — |
United States Treasury | 13.88% | $29.17M | — |
United States Treasury | 9.58% | $20.15M | — |
United States Treasury | 7.87% | $16.55M | — |
United States Treasury | 7.57% | $15.91M | — |
United States Treasury | 7.35% | $15.46M | — |
United States Treasury | 6.80% | $14.29M | — |
United States Treasury | 5.91% | $12.43M | — |
United States Treasury | 1.59% | $3.35M | — |
The 200 largest of 2,005 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Cash & short-term | 91.86% |
| Derivatives | 6.56% |
| Bonds | 0.06% |
Derivatives are shown at market value, not notional exposure.
How it has done
C000264683 share class · total returns with dividends reinvested
Past returns are a record, not a forecast.
May 2026 and Jun 2026 and Jul 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Fees & fund details
iShares Systematic Alternatives Active ETF is an actively managed U.S. alternative fund.
- Asset class
- Alternative
- Region
- United States
- Management
- Actively managed
- Expense ratio, by class
- 0.99%
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
970 new· the largest 2
957 exited· the largest 3
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 100.0% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 3.8% |
| 1-3y | 89.2% |
| 3-5y | 7.0% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
This fund carries a net credit hedge: it would gain roughly 3.5% if credit spreads widened 100bp, where a comparable bond fund would lose.
Share of the fund's spread duration carried by each credit tier.
| High yield | +0.28 yr |
| Investment grade | -4.01 yr |
Share of duration at each point, shortest first. This filer signs its rate and credit disclosures differently; the direction shown follows its interest-rate filing, and a negative reading is the least-supported figure here.
| 1 yr | 0.03 yr | 18% |
| 5 yr | 0.16 yr | 82% |
3 mo is NEGATIVE (-0.16 yr) — a deliberate hedge at that point on the curve, so it is not part of the band above.
| 1 yr | 0.34 yr | 100% |
5 yr is NEGATIVE (-4.06 yr) — a deliberate hedge at that point on the curve, so it is not part of the band above.
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | -0.16 | +0.00 | +0.00 | $0 | $0 |
| 1 yr | +0.03 | +0.00 | +0.34 | $0 | $7.1k |
| 5 yr | +0.16 | -4.01 | -0.05 | -$84.3k | -$1.1k |
| 10 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
| 30 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
A newer credit-spread reading (2026Q3) is on file. This page holds one quarter across every figure on it, so that one appears here next quarter.
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