SEI DBi Multi-Strategy Alternative ETF (NASDAQ: QALT) is an exchange-traded fund that seeks long-term capital appreciation by replicating the return profile of a model portfolio of alternative strategies, primarily consisting of hedge funds, through a quantitative, rules-based approach. The fund dynamically allocates long and short positions across global equity, fixed income, and currency markets; it primarily invests in exchange-traded derivatives including futures, options, and swaps, collateralized by cash and money market instruments. It does not invest directly in hedge funds but targets similar risk-adjusted returns using liquid instruments.
QALT was launched on September 3, 2025, following the reorganization of SEI's SIMT Liquid Alternative Fund (previously known as SEI Liquid Alternative ETF) into an ETF structure to provide a more cost-efficient and accessible vehicle. The ETF is managed by SEI Investments Management Corporation, a subsidiary of SEI Investments Company (founded in 1968 and headquartered in Oaks, Pennsylvania), with sub-advisory services provided by Dynamic Beta Investments (DBi), a Greenwich, Connecticut-based specialist in hedge fund replication strategies. This conversion builds on a nearly decade-long strategic partnership between SEI and DBi, which dates back to 2015 and extends to liquid alternative products in the U.S., Ireland, and Canada.
The fund operates within the global hedge fund replication segment, targeting financial advisors, institutional investors, and private clients seeking diversified alternative exposures with improved liquidity, transparency, and lower fees compared to traditional hedge funds. Its portfolio may include positions in emerging markets, below-investment-grade securities, and leveraged instruments, exposing it to market volatility, counterparty risks, and geopolitical factors across international markets. As of late 2025, assets under management stand at approximately $189 million.