Lattice matched (x = 0.53) and strained (x = 0.65) In0.52Al0.48As/ InxGa1-xAs p-doped dual-channel FETs were fabricated and investigated experimentally. This material system offers a high carrier velocity and large bandgap discontinuity as required for high-speed operation. The design and the DC and high-frequency characteristics of the FETs are reported. The strained design enhances the intrinsic transconductance from 23 mS/mm to 46.5 mS/mm using 1.0-μm-long gates. The cutoff frequency also improves from 1.0 GHz to 1.5 GHz.