AGFiQ U.S. Market Neutral Anti-Beta Fund (BTAL) Performance
BTAL total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −7.6% since Dec 31, 2025
- 1 year
- −10.9% total return
- 5 years
- −2.0% a year
- 10 years
- −3.1% a year
- Since first price
- −3.0% a year since 2011
BTAL trailing returns vs SPY, QQQ, AGG
| Period | BTAL total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +10.6% | +10.6% | −1.0% | −5.0% | +0.9% |
| 3 months | +11.1% | +11.1% | +3.2% | +1.9% | −0.4% |
| 6 months | +6.4% | +6.4% | +7.8% | +8.4% | −1.5% |
| YTD | −7.6% | −7.6% | +12.3% | +15.1% | −1.0% |
| 1 year | −10.9% | −13.1% | +14.4% | +15.9% | −1.1% |
| 3 years | −27.5%−10.2%/yr | −35.7% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | −9.7%−2.0%/yr | −20.6% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | −27.3%−3.1%/yr | −37.0% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | −35.0%−2.8%/yr | −44.6% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionSep 13, 2011 | −36.9%−3.0%/yr | −46.3% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: BTAL vs SPY
From Sep 13, 2011: BTAL grew to $6,305, SPY to $84,249.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
BTAL returns by calendar year
6 of 14 full years positive. Best 2022 (+20.5%), worst 2025 (−20.2%). 2026 is year to date.
BTAL annual returns table
| Year | BTAL | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −7.6% | −24.8% | +12.3% | +15.1% | −1.0% |
| 2025 | −20.2% | −34.2% | +17.7% | +20.8% | +7.2% |
| 2024 | +12.8% | −11.7% | +24.9% | +25.6% | +1.3% |
| 2023 | −15.1% | −17.7% | +26.2% | +54.9% | +5.7% |
| 2022 | +20.5% | −15.4% | −18.2% | −32.6% | −13.0% |
| 2021 | −6.8% | −17.3% | +28.7% | +27.4% | −1.8% |
| 2020 | −13.9% | −29.5% | +18.3% | +48.6% | +7.5% |
| 2019 | +1.1% | −9.9% | +31.2% | +39.0% | +8.5% |
| 2018 | +15.1% | −4.4% | −4.6% | −0.1% | +0.1% |
| 2017 | −2.1% | −9.0% | +21.7% | +32.7% | +3.6% |
| 2016 | −4.7% | −20.1% | +12.0% | +7.1% | +2.4% |
| 2015 | +0.1% | −11.7% | +1.2% | +9.4% | +0.5% |
| 2014 | +8.7% | −4.5% | +13.5% | +19.2% | +6.0% |
| 2013 | −13.8% | −16.0% | +32.3% | +36.6% | −2.0% |
| 2012 | −7.0% | −12.2% | +16.0% | +18.1% | +3.8% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
BTAL largest drawdowns
Now 42.4% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Mar 12, 2020 | −52.7% | Jun 22, 2026 | not yet | 6.3 years | 6.6 years so far |
| Oct 3, 2011 | −29.5% | Jan 12, 2018 | Mar 9, 2020 | 6.3 years | 8.4 years |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
BTAL risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2011 |
|---|---|---|---|---|
| Annualized return | −12.0% | −4.3% | −4.1% | −4.0% |
| Volatility (annualized) | 17.7% | 17.1% | 15.6% | 14.9% |
| Sharpe ratio | -0.88 | -0.38 | -0.34 | -0.30 |
| Sortino ratio | -1.07 | -0.49 | -0.43 | -0.39 |
| Best month | +9.9% | +9.9% | +9.9% | +9.9% |
| Worst month | −10.7% | −10.7% | −15.0% | −15.0% |
| Best 12 months | +19.7% | +23.4% | +28.7% | +28.7% |
| Worst 12 months | −38.5% | −38.5% | −38.5% | −38.5% |
| Positive months | 36% | 45% | 46% | 44% |
| Beta vs S&P 500 | -0.87 | -0.65 | -0.61 | — |
| Correlation with S&P 500 | -0.61 | -0.60 | -0.60 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
BTAL rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 170 | −38.5% | −1.3% | +28.7% | 44% |
| 3-year (a year) | 146 | −13.1% | −1.2% | +9.6% | 43% |
| 5-year (a year) | 122 | −6.6% | −1.5% | +5.8% | 34% |
| 10-year (a year) | 62 | −5.8% | −0.8% | +1.7% | 32% |
Every holding period starting at a month-end since 2011. Returns for 3 years and longer are annualized.
BTAL performance overview
AGFiQ U.S. Market Neutral Anti-Beta Fund (BTAL) returned −10.9% over the past year and −3.1% a year over ten years, with distributions reinvested. Since its first recorded price in 2011 it has returned −3.0% a year, turning $10,000 into about $6,305. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −52.7%, from Mar 12, 2020 to Jun 22, 2026; the fund has not yet regained that high. BTAL finished 6 of its 14 full calendar years with a gain; the best year was 2022 (+20.5%) and the worst 2025 (−20.2%). Volatility has been 14.9% a year.
Related: BTAL chart, BTAL dividends. See the BTAL overview for the latest quote and fund facts.
BTAL performance FAQ
What is the BTAL return over the past year?
BTAL returned −10.9% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 13.1%.
What is the average annual return of BTAL?
BTAL has returned −2.0% a year over 5 years, −3.1% a year over 10 years, −3.0% a year since September 13, 2011 (total return, distributions reinvested).
How much would $10,000 invested in BTAL be worth?
$10,000 invested in BTAL at its first recorded close on September 13, 2011 would be worth about $6,305 on October 23, 2026 with distributions reinvested.
What was the worst year for BTAL?
The worst calendar year was 2025, with a total return of −20.2%. The best was 2022 at +20.5%.
What is the biggest drawdown of BTAL?
The largest peak-to-trough decline was −52.7% between March 12, 2020 and June 22, 2026. It has not yet recovered to that high; it is 42.4% below its peak.
How volatile is BTAL?
Over the past 3 years BTAL had an annualized volatility of 17.7% and a Sharpe ratio of -0.88 (excess return over 1–3 month T-bills per unit of risk).