Methodology
A focused universe of exchange-listed alternatives.
AltETF is designed to provide professional investors with a focused and relevant universe of European exchange-listed alternative investment strategies and specialist exposures.
The objective is not to catalogue every ETF, ETC or ETN available in Europe. Products are included where returns are meaningfully shaped either by an alternative investment process or by a materially differentiated way of accessing a specialist market or conventional underlying exposure.
The universe therefore spans both strategy-led alternatives and specialist or engineered exposures, with inclusion determined by their relevance in a professional portfolio context.
The universe
What qualifies for inclusion.
Products considered for inclusion must be exchange-listed in Europe and provide exposure that is meaningfully differentiated from conventional long-only market beta.
Some strategies are strategy-led, including managed futures, systematic macro, long/short, market neutral, relative value and event driven approaches. These are closest to traditional hedge-fund return engines translated into exchange-listed form.
Others are exposure-led, including option-driven defensive strategies using buffers, floors or defensive overlays, and specialist assets such as commodities, catastrophe bonds, structured credit and digital assets. These may remain directionally long, but are included where the payoff structure, rules-based allocation, contract selection, roll methodology, curve positioning or other implementation feature materially differentiates the exposure from a vanilla product.
The final decision on inclusion is discretionary. AltETF prioritises the relevance and quality of the universe over building the largest possible database.
Where an issuer operates a series of substantially identical defined-outcome funds that differ mainly by outcome-period vintage, AltETF may include a representative subset rather than every cohort. Additional vintages are included where they differ materially in payoff design, underlying exposure, implementation or scale.
Boundaries
What is generally excluded.
AltETF does not generally include conventional long-only equity or bond exposure, simple thematic ETFs, static commodity beta, plain digital-asset exposure, leveraged or inverse directional products, or straightforward covered-call income strategies.
Long-only exposure to an alternative or specialist asset is not sufficient by itself. Where the underlying exposure is readily available through a conventional product, AltETF generally requires a materially differentiated systematic, structural or payoff-based approach for inclusion.
Products may also be excluded where an alternative component is present but remains secondary to a predominantly conventional return profile.
Classification
Classified by the dominant return engine.
The framework includes both strategy-led and exposure-led forms of alternative investing. Macro & Trend and Long/Short, Relative Value & Event Driven are generally closest to traditional alternative investment strategies. Options, Volatility & Defensive Strategies and Alternative Assets & Specialist Exposures more often capture differentiated payoff structures, specialist markets or non-standard methods of obtaining exposure. These distinctions are not absolute, and some products naturally span both.
Products are classified according to what principally drives the investment outcome, rather than the terminology used in product marketing.
The current AltETF framework is organised across four main categories:
- Macro & Trend Strategies
- Long/Short, Relative Value & Event Driven
- Options, Volatility & Defensive Strategies
- Alternative Assets & Specialist Exposures
Where a product spans more than one area, classification reflects the dominant source of returns and the most useful representation of the investment case. Classifications may be reviewed where a product or strategy materially changes over time.
Data
Primary sources, clearly dated.
AltETF primarily sources fund information from official manager websites, factsheets, prospectuses, KIDs, regulatory documents and other primary fund materials.
Where information is unavailable, unclear or not directly comparable, AltETF may leave a field blank rather than estimate or infer a value.
Time-sensitive information, including assets under management, fees, distribution registrations and performance, should always be considered in the context of the relevant reporting date.
Research
Fund, strategy and industry.
AltETF research is organised across three areas: Fund, Strategy and Industry.
Fund research focuses on how individual products work, how they are implemented and the role they may play within a portfolio.
Strategy research examines the underlying investment approach, its return drivers, risks and implementation considerations.
Industry research considers the broader structural developments shaping the European market for exchange-listed alternatives.
AltETF research is intended to support professional investment analysis and does not constitute a recommendation to buy or sell any security.
Review and maintenance
Editorial judgement, revisited over time.
Inclusion, classification and commentary may involve editorial judgement.
AltETF aims to keep information accurate and current, but product structures, assets, fees, registrations and other characteristics can change over time.
If you believe information on the platform should be corrected or updated, or would like a product to be considered for inclusion, please contact AltETF.