BYLD vs. LALT ETF Comparison

Comparison of iShares Yield Optimized Bond ETF (BYLD) to First Trust Exchange-Traded Fund VIII First Trust Multi-Strategy Alternative ETF (LALT)

BYLD

iShares Yield Optimized Bond ETF

BYLD Description

The investment seeks to track the investment results of an index composed of underlying fixed income funds that collectively seek to deliver current income. The fund invests primarily in underlying funds that themselves seek investment results corresponding to their own underlying indexes. The fund also invests in a combination of other exchange-traded funds ("ETFs") (including other iShares ETFs), cash and cash equivalents, including shares of money market funds advised by BFA or its affiliates ("BlackRock Cash Funds"). The underlying index is a broadly diversified fixed income index that seeks to deliver current income.

Grade (RS Rating)

Last Trade

$22.79

Average Daily Volume

66,662

Number of Holdings ^*

6

* may have additional holdings in another (foreign) market

LALT

First Trust Exchange-Traded Fund VIII First Trust Multi-Strategy Alternative ETF

LALT Description

The investment seeks a positive total return that has a low correlation to the broader securities markets. The fund is an actively managed exchange-traded fund (ETF) that seeks to achieve its investment objective by investing in a combination of equity securities, financial futures contracts, forward currency contracts and other securities. The sub-adviser selects investments for inclusion in the fund's portfolio with reference to the components of the Morgan Stanley Multi-Strategy Alternative Index (the Benchmark) through a quantitative process that seeks to exceed the Benchmark's performance.

Grade (RS Rating)

Last Trade

$20.89

Average Daily Volume

2,932

Number of Holdings ^*

8

* may have additional holdings in another (foreign) market

Performance

Period	BYLD	LALT
30 Days	1.43%	0.38%
60 Days	2.20%	1.04%
90 Days	4.28%	0.41%
12 Months	14.17%	6.47%

0 Overlapping Holdings

	Symbol	Grade	Weight in BYLD	Weight in LALT	Overlap

BYLD Overweight 6 Positions Relative to LALT

	Symbol	Grade	Weight
	IGLB	A	26.37%
	SGOV	B	23.56%
	USHY	A	20.0%
	CMBS	B	10.04%
	EMHY	A	10.02%
	FLOT	A	9.91%

BYLD Underweight 8 Positions Relative to LALT

	Symbol	Grade	Weight
	FTLS	A	-21.53%
	FAAR	F	-21.2%
	FMF	F	-20.89%
	UCON	A	-12.67%
	IAU	A	-8.58%
	IEF	B	-5.14%
	MARB	F	-5.08%
	FTGC	B	-4.81%

BYLD: Top Represented Industries & Keywords

Industries:

Keywords: Exchange Traded Fund ETF Bond Swaps Bond Market Corporate Bond Index Fund Cash And Cash Equivalents Commercial Mortgage Commercial Mortgage Backed Security Commercial Mortgage Securities Association Futures Markets High Yield Debt Money Market Fund Morningstar Mlp Composite Index Tr Mortgage Mortgage Backed Security Public–Private Investment Program For Legacy Assets Salomon Big Structured Finance

LALT: Top Represented Industries & Keywords

Industries:

Keywords: Exchange Traded Fund ETF Exchange Traded Funds Commodity Markets Absolute Return American Depositary Receipt Bear Market ETF Betashares Bloomberg Barclays Us Aggregate Bond Index Bond Bond Market Bullion Commercial Mortgage Backed Security Commodity Commodity Pool Depositary Receipt Exchange Government Bonds Index Fund Inverse ETF