IALT – alt that goes up and to the right

Can someone help me understand what I am missing about IALT? No one is talking about it, but it seems to have an amazing risk profile.

I know it's only 6 months old, but even so. Look at this:

• 12% returns

• <2℅ max drawdown

• 3.14 Sharpe

• 6.13 Sortino

It was completely unfazed by the recent war volatility.

I found it while looking for hedging alternatives, but this sucker is straight up providing equity like returns with a short term bond risk profile.

What's the catch? The obvious issue is the black box nature of their strategy, and it has a high fee (though not really for alts). But it's not some little podunk doing this, it's Blackrock.