The stock market has favored vanilla approaches in the past 6 years. A diversified portfolio that includes alternative ETFs has struggled to keep up with the simple S&P SPDR Trust (NYSEarca: SPY) and the Vanguard Total Bond Market ETF (NYSEarca: BND) due to coinciding stock and bond bull markets.

That picture is set to change. The threat of rising interest rates and two long-in-the-tooth bull markets have investors paying close attention to the alternative ETF markets.

IndexIQ has been waiting for the reemergence of alts. Tom recently caught up with CEO Adam Patti to discuss the burgeoning opportunities his firm has. They talk what strategies alt experts are positioning in advance of the changing markets.

See what gaps or risks alts may be able to mitigate in your ETF portfolio below.