FYI: It wasn't long ago that liquid alternatives were hip, cool, and fresh options to protect a portfolio from the next big market crash. About one third of liquid alternatives funds that existed at some point during the past five years didn't make it that far, though.
While alternative strategies may indeed help stabilize portfolios in the next bear market, whenever it happens, investor interest in these potentially diversifying strategies has cooled off.
Regards,
Ted
https://www.morningstar.com/articles/872638/death-is-a-way-of-life-for-liquid-alternatives.html