A side-by-side comparison of NBI Liquid Alternatives ETF (NALT) and Picton Mahoney Fortified Alpha Alternative Fund ETF (PFAA) to help Canadian investors make an informed decision.
CIBC Investor's Edge
Transfer your investments to CIBC Investor's Edge and get rewarded with an offer of up to $3,000.
- ✓$6.95 flat-rate commissions
- ✓Backed by Big Five bank security
- ✓Transfer bonus offer up to $3,000
1-Year Performance
Normalised to 100 at the start — shows relative return over the trailing 12 months.
Head-to-Head Comparison
| Metric | NALT | PFAA |
|---|---|---|
| YTD Return | +6.26%✓ | -0.08% |
| 1-Day Change | +0.25%✓ | +0.08% |
| 1-Week Change | +0.13% | +0.49%✓ |
| 1-Month Change | -1.09% | +1.41%✓ |
| Current Price | $23.60 | $12.26 |
| AUM | $364M✓ | $348M |
| MER (Expense Ratio) | 0% | 0% |
| Dividend Yield | 3.13%✓ | 1.77% |
| Distribution Frequency | Annually | Monthly |
| Inception Date | 2019-01-15 | 2022-05-09 |
| Holdings Count | 1 | 6 |
| MorningStar Rating | — | — |
| Category | Alternative Multi - Strategy | Alternative Multi - Strategy |
| Beta | 0.00 | 0.00 |
| 52-Week High | $24.29 | $12.27 |
| 52-Week Low | $19.53 | $11.73 |
| 50-Day MA | $23.69 | $12.16 |
| 200-Day MA | $22.38 | $12.23 |
✓ marks the better value for return/yield/AUM metrics. Lower ✓ for MER.
Annualised Returns
| Period | NALT | PFAA |
|---|---|---|
| YTD | +6.26%✓ | -0.08% |
| 1 Year | +13.40%✓ | +4.03% |
| 3 Year | +3.35% | +7.80%✓ |
| 5 Year | +2.47% | — |
| 10 Year | — | — |
| 1Y Volatility | 7.84% | 1.93% |
| Sharpe Ratio (3Y) | -0.04 | 2.03 |
Past performance is not a guarantee of future results.
Top 10 Holdings
| 1 | WINM26 | Mini Ibovespa Future June 26 | 3.44% |
| 1 | XIC | iShares Core S&P/TSX Capped Composite | 9.33% |
| 2 | IVV | iShares Core S&P 500 ETF | 9.27% |
| 3 | XIU | iShares S&P/TSX 60 | 5.68% |
| 4 | RY | Royal Bank of Canada | 2.37% |
| 5 | MTUM | iShares MSCI USA Momentum Factor ETF | 1.72% |
| 6 | SHOP | Shopify Inc | 1.57% |
Sector Weights
| Sector | NALT | PFAA |
|---|---|---|
| Basic Materials | 0.00% | 10.20% |
| Communication Services | 0.00% | 4.69% |
| Consumer Cyclicals | 0.00% | 7.65% |
| Consumer Defensive | 0.00% | 2.92% |
| Energy | 0.00% | 7.59% |
| Financial Services | 0.00% | 28.09% |
| Healthcare | 0.00% | 5.63% |
| Industrials | 0.00% | 10.74% |
| Real Estate | 0.00% | 4.09% |
| Technology | 0.00% | 14.42% |
| Utilities | 0.00% | 3.97% |
About NALT
NA
About PFAA
NA
Which ETF is Right for You?
Both NALT and PFAA are listed on Canadian exchanges and accessible through most Canadian brokerages including Questrade, Wealthsimple Trade, TD Direct, and Interactive Brokers.
Based on the available data, NALT scores higher across our tracked metrics including YTD performance, dividend yield, and AUM — though both ETFs warrant individual research before investing.
- Consider your account type (TFSA, RRSP, non-registered) as it can affect dividend taxation.
- Compare management expense ratios (MER) directly on each provider's website.
- Look at average daily trading volume to assess liquidity.
- Review the fund's underlying index and holdings to ensure the exposure matches your goals.
This is not financial advice. Always do your own research or consult a licensed financial advisor before investing.
Frequently Asked Questions
What is the difference between NALT and PFAA?
NALT (NBI Liquid Alternatives ETF) and PFAA (Picton Mahoney Fortified Alpha Alternative Fund ETF) are both Canadian-listed ETFs. Key differences include their AUM ($364M vs $348M), dividend yield (3.13% vs 1.77%), and year-to-date performance (+6.26% vs -0.08%).
Is NALT better than PFAA?
There is no single "better" ETF — it depends on your investment goals. If you prioritise recent performance, NALT has outperformed year-to-date. Always review the fund's prospectus and consider your tax situation.
Can I buy NALT and PFAA on Wealthsimple?
Most Canadian-listed ETFs are available on Wealthsimple Trade commission-free. Both NALT and PFAA should be accessible. Check Wealthsimple's supported tickers list to confirm availability.
7 stocks to buy and hold forever
Complement your ETF portfolio with these proven long-term individual stocks.
Get the FREE Report