{"schemaVersion":1,"ticker":"BTAL","asOf":"2026-10-30","desk":"alternatives","cite":{"publisher":"ETFIQ","page":"https://etfiq.com/funds/btal/","methodology":"https://etfiq.com/methodology/","as_of":"2026-10-30","credit":"Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records; risk-free rate: U.S. Treasury, Daily Treasury Bill Rates, 13-week coupon equivalent","class":"mixed","license":"https://etfiq.com/license/","license_text":"Only the numbers in etfiq_fields are ETFIQ's, free to use with attribution: ETFIQ (etfiq.com). Every other number stays under its owner's terms: issuer_fields as the issuer published them, vendor_fields from an end-of-day data vendor.","fields_note":"Not yet classed field by field: only data ETFIQ computes is covered by its licence.","cite_as":"ETFIQ, Risk and return scorecard, BTAL against its benchmark, data as of 2026-10-30, https://etfiq.com/funds/btal/"},"benchmark":{"ticker":"VOO","name":"S&P 500 Index","tier":1,"kind":"index","basisOnPage":"total","basisHere":"total"},"kind":"benchmark","a":"BTAL","b":"VOO","window":{"from":"2011-09-23","to":"2026-10-30","firstReturn":"2011-09-30","weeklyReturns":788,"years":15.1,"short":false,"weekEnding":"2026-11-01"},"riskFree":{"rate":0.01700628,"perWeek":0.0003270438,"days":3776,"series":"13-week Treasury bill, coupon equivalent, average of daily yields","source":"U.S. Department of the Treasury, Daily Treasury Bill Rates","url":"https://home.treasury.gov/resource-center/data-chart-center/interest-rates/TextView?type=daily_treasury_bill_rates"},"measures":{"total":{"a":-0.39524191,"b":7.74362839,"edge":"VOO","lead":"VOO"},"annualised":{"a":-0.03264338,"b":0.1538307,"edge":"VOO","lead":"VOO"},"price":{"a":-0.4844358,"b":5.70148534,"edge":"VOO","lead":"VOO"},"volatility":{"a":0.15625688,"b":0.15772201,"edge":"Tie"},"downsideDeviation":{"a":0.11606953,"b":0.10773391,"edge":"VOO (slight)","lead":"VOO"},"maxDrawdown":{"a":-0.52310297,"b":-0.31777419,"edge":"VOO","lead":"VOO","aPeak":"2020-04-03","aTrough":"2026-06-18","bPeak":"2020-02-14","bTrough":"2020-03-20"},"excess":{"a":-0.03789889,"b":0.13878538,"edge":"VOO","lead":"VOO"},"sharpe":{"a":-0.24254221,"b":0.87993667,"edge":"VOO","lead":"VOO"},"sortino":{"a":-0.32651885,"b":1.28822376,"edge":"VOO","lead":"VOO"},"calmar":{"a":-0.06240335,"b":0.4840881,"edge":"VOO","lead":"VOO"}},"relative":{"BTAL":{"on":"VOO","beta":-0.56491187,"r2":0.32513801,"alpha":0.04050262,"alphaT":1.2184516,"alphaLow":-0.02474914,"alphaHigh":0.10575438,"upsideCapture":-0.30775696,"downsideCapture":-1.5429802,"treynor":0.06708814,"trackingError":0.27820533,"informationRatio":-0.63508587,"upWeeks":467,"downWeeks":320,"treynorReference":0.13878538,"edges":{"beta":{"edge":"Lower beta","neutral":true},"r2":{"edge":null,"neutral":true},"alpha":{"edge":"Not significant"},"alphaRange":{"edge":"Includes zero"},"upsideCapture":{"edge":"VOO","lead":"VOO"},"downsideCapture":{"edge":"BTAL","lead":"BTAL"},"treynor":{"edge":"VOO","lead":"VOO"},"informationRatio":{"edge":null,"lead":"VOO","note":"one number for the pair: its sign says which side it favours"},"trackingError":{"edge":null,"neutral":true}}}},"sources":{"BTAL":{"kept":"2026-11-01","distributions":8,"addedFromRecord":[],"notInVendorSeries":[],"vendorAmountDiffers":[],"vendorStepsWithoutDistribution":[],"vendor":{"weeks":788,"beyond":0,"tolerance":0.0005,"worst":0.0,"vendorTotal":-0.39524191}},"VOO":{"kept":"2026-11-01","distributions":60,"addedFromRecord":[],"notInVendorSeries":[],"vendorAmountDiffers":[{"ex":"2020-03-10","amount":1.178,"vendor":1.120751}],"vendorStepsWithoutDistribution":[],"issuerCloses":{"compared":11,"agree":11},"vendor":{"weeks":788,"beyond":0,"tolerance":0.0005,"worst":0.0,"vendorTotal":7.74362839}}}}