Liquid Alt Fund Leaderboard: November 2025
Updated as of: December 13, 2025
Alternative investments aren’t just being talked about, they’re being allocated to.
While the buzz often centers on private alternatives, listed alternatives have been gaining attention for their edge in liquidity, transparency, and cost efficiency compared to their private counterparts.
To provide advisors with alternative investment ideas for consideration in portfolios, we compiled lists of both the largest and best-performing liquid alt funds using the YCharts Fund Screener, which helps advisors navigate across a universe of over 85,000 funds to find specific investment candidates. The results are based on share class assets under management (AUM) and one-year price returns, respectively, with the screener’s broad category set to “Alternative Strategies” that excludes SMAs.
The following data includes AUM flows over the last month, three months, and one year, along with net expense ratio and one-year price returns for the largest leveraged and inverse ETFs.
Looking for the best-performing ETFs overall? Check out our analysis on the Best Performing ETFs over the Last 10 Years here.
Table of Contents
Largest Liquid Alt Funds
These are the largest Liquid Alt Funds as of November 30, 2025.
| Symbol | Name | Share Class Assets Under Management | 1 Year Price Returns (Monthly) | 1 Month Fund Share Class Flows | 3 Month Fund Share Class Flows | 1 Year Fund Share Class Flows | Net Expense Ratio | Fund Family |
|---|---|---|---|---|---|---|---|---|
| IBIT | iShares Bitcoin Trust ETF | $70,220,458,374 | -6.63% | -$2,295,681,108 | $4,457,170,963 | $31,190,223,797 | 0.22% | iShares |
| BSIIX | BlackRock Strategic Income Opps Port Inst | $29,050,118,136 | 2.72% | $183,966,190 | $667,749,983 | $1,337,703,417 | 0.71% | BlackRock |
| FBTC | Fidelity Wise Origin Bitcoin Fund | $18,241,059,263 | -6.87% | -$499,149,199 | $125,389,097 | $759,905,769 | 0.25% | Fidelity Investments |
| LP67010989 | Renaissance Institutional Equities Intl LP B | $16,530,000,000 | -8.03% | -$303,240,000 | -$713,121,171 | -$1,908,445,943 | N/A | N/A |
| CMNIX | Calamos Market Neutral Income Fund I | $15,578,400,000 | 4.92% | $100,385,168 | $176,696,311 | $708,206,164 | 0.97% | Calamos |
| GBTC | Grayscale Bitcoin Trust ETF | $15,194,570,858 | -7.89% | -$326,930,487 | -$1,091,180,637 | -$4,500,890,565 | 1.52% | Grayscale |
| ETHA | iShares Ethereum Trust ETF | $11,430,648,233 | -15.59% | -$1,096,186,452 | -$46,637,831 | $11,409,804,587 | 0.12% | iShares |
| PMZIX | PIMCO Mortgage Opp and Bond Fund Institutional | $9,163,067,466 | 1.51% | $64,407,066 | -$59,195,787 | $906,158,903 | 1.68% | PIMCO |
| PAAIX | PIMCO All Asset Fund Institutional | $8,924,842,392 | 4.85% | -$38,611,726 | -$1,537,829,538 | -$3,136,297,411 | 1.84% | PIMCO |
| GIOIX | Guggenheim Macro Opportunities Fund Institutional | $8,429,372,159 | 0.77% | $54,156,970 | $206,668,954 | $809,414,443 | 0.93% | Guggenheim Investments |
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Largest Liquid Alt Funds Performance
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Largest Liquid Alt Funds Share Class Flows
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Best Performing Liquid Alt Funds
These are the largest best performing Liquid Alt Funds as of November 30, 2025.
| Symbol | Name | 1 Year Price Returns (Monthly) | Share Class Assets Under Management | 1 Month Fund Share Class Flows | 3 Month Fund Share Class Flows | 1 Year Fund Share Class Flows | Net Expense Ratio | Fund Family |
|---|---|---|---|---|---|---|---|---|
| LP40302756 | Nationwide International Equity Portfolio R6 | 36.59% | $1,103,960,504 | $294,475,292 | $263,670,912 | $320,910,495 | N/A | Nationwide |
| QRPIX | AQR Alternative Risk Premia Fund I | 22.06% | $210,157,488 | $22,744,681 | $35,777,036 | $109,202,077 | 5.04% | AQR Funds |
| JAKUX | John Hancock Disciplined Value Global Lg/Sh Fd I | 21.50% | $231,665,322 | $7,271,319 | $17,819,308 | $660,114 | 1.66% | John Hancock |
| QLEIX | AQR Long-Short Equity Fund I | 21.47% | $6,635,120,023 | $277,554,471 | $842,092,131 | $3,418,711,043 | 5.33% | AQR Funds |
| SAMT | Strategas Macro Thematic Opportunities ETF | 21.00% | $327,400,819 | $13,263,214 | $101,081,896 | $204,792,892 | 0.66% | Strategas Asset Management, LLC |
| QMHRX | AQR Managed Futures Strategy HV Fund R6 | 18.78% | $649,965,166 | $27,671,780 | $42,871,509 | $357,457,212 | 3.77% | AQR Funds |
| QMNIX | AQR Equity Market Neutral Fund I | 18.08% | $1,492,318,535 | $84,756,574 | $217,224,757 | $838,963,744 | 5.48% | AQR Funds |
| PRPFX | Permanent Portfolio I | 17.75% | $6,062,394,322 | $145,910,717 | $418,506,232 | $1,463,830,530 | 0.81% | Permanent Portfolio Family of Funds |
| RSST | Return Stacked US Stocks & Managed Futures ETF | 16.17% | $305,797,388 | $11,167,968 | $19,891,009 | $10,132,147 | 0.99% | Return stacked ETFs |
| CLSE | Convergence Long/Short Equity ETF | 16.14% | $256,116,219 | $12,019,340 | $27,728,382 | $18,859,077 | 1.44% | Convergence |
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Top Liquid Alt Funds Performance
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Top Liquid Alt Funds Share Class Flows
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What Was the Growth of $10,000 in the Top Liquid Alt Funds Over the Last Year?
If you invested $10,000 one year ago into any of the ten best-performing liquid alt funds in the last year, your total return one year later would have beat the S&P 500. Nationwide’s International Equity Portfolio and the AQR Alternative Risk Premia Fund (QRPIX) were the two best-performing liquid alt funds in the last year.
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