# BTAL (AGF U.S. Market Neutral Anti-Beta Fund)

AGF Investments · Alternatives ETFs · data as of Sep 18, 2026

In the S&P 500’s down weeks over the year to Sep 18, 2026, BTAL rose 1.18% a week on average.

## Key facts

- BTAL, correlation with the S&P 500: −0.69, as of Sep 18, 2026.
- BTAL, beta to the S&P 500: −0.98, as of Sep 18, 2026.
- BTAL, down-week capture: −95.2%, as of Sep 18, 2026.
- BTAL, against T-bills, 52 weeks: −22.7 pts, as of Sep 18, 2026.
- BTAL, net assets: $283m (SEC N-PORT, whole fund, as filed for Jun 30, 2026).
- BTAL, expense ratio: 1.40% (485BPOS XBRL, Oct 27, 2025).

## BTAL over each window to Sep 18, 2026

| Window | The fund | S&P 500 | Difference, percentage points |
| --- | --- | --- | --- |
| 3 months | +12.0% | +2.3% | +9.8 pts |
| 6 months | −13.2% | +18.0% | −31.3 pts |
| 1 year | −18.8% | +16.6% | −35.3 pts |
| 3 years | −29.4% | +78.4% | −107.8 pts |
| Since it listed | −41.8% | +745.1% | −786.9 pts |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Issuer | AGF Investments | ETFIQ |
| Strategy | Market neutral | ETFIQ, from its prospectus |
| Expense ratio | 1.40% | 485BPOS XBRL, Oct 27, 2025 |
| Net assets | $283m | SEC N-PORT, whole fund, as filed for Jun 30, 2026 |
| Weeks measured | 52, from Sep 19, 2025 to Sep 18, 2026 | ETFIQ |
| Weeks the S&P 500 fell | 22 | ETFIQ |
| The S&P 500 in those weeks, on average | −1.24% | ETFIQ |
| BTAL in those weeks, on average | +1.18% | ETFIQ |
| BTAL total return over those weeks | −19.1% | ETFIQ |
| T-bills | +3.6% | ETFIQ |
| Listed since | Sep 13, 2011 | ETFIQ |
| Days traded | 90 | ETFIQ |
| Quoted | on an exchange, every trading day | ETFIQ |

## Questions

### Does BTAL move with the S&P 500?

Over the year to Sep 18, 2026, BTAL’s weekly returns had a correlation of −0.69 with the S&P 500’s, on a scale where 1 moves in step, 0 shows no pattern and −1 moves opposite. Its beta was −0.98, so for each 1% the index moved it moved about 0.98% the other way.

### What did BTAL do when stocks fell?

The S&P 500 fell in 22 of the 52 weeks to Sep 18, 2026, by 1.24% on average. In those weeks BTAL rose 1.18% on average, a down-week capture of −95.2%.

### Did BTAL earn more than cash?

Over the same 52 weeks BTAL returned −19.1% with distributions reinvested, and BIL, a fund of Treasury bills, returned +3.6%. BTAL finished 22.7 percentage points behind it.

### What does BTAL cost?

The prospectus expense ratio is 1.40% a year.

### Why is BTAL listed as market neutral?

ETFIQ files each fund by what its own prospectus says it does, and BTAL’s, filed Oct 27, 2025, describes a market neutral fund.


## Cite this page

ETFIQ, BTAL, data as of Sep 18, 2026. https://etfiq.com/funds/btal
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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