BTAL vs. AKR
BTAL (AGF U.S. Market Neutral Anti-Beta Fund) is Equity Market Neutral fund actively managed by AGF, while AKR (Acadia Realty Trust) is a stock. Over the past 10 years, BTAL returned -4.85%/yr vs -1.56%/yr for AKR. At a correlation of -0.27, they often move in opposite directions.
Performance
BTAL vs. AKR - Performance Comparison
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Returns By Period
In the year-to-date period, BTAL achieves a -17.58% return, which is significantly lower than AKR's 6.00% return. Over the past 10 years, BTAL has underperformed AKR with an annualized return of -4.85%, while AKR has yielded a comparatively higher -1.56% annualized return.
BTAL
- 1D
- 1.98%
- 1M
- 3.22%
- 6M
- -14.80%
- YTD
- -17.58%
- 1Y
- -28.86%
- 3Y*
- -9.69%
- 5Y*
- -4.64%
- 10Y*
- -4.85%
AKR
- 1D
- 0.23%
- 1M
- -2.49%
- 6M
- 4.12%
- YTD
- 6.00%
- 1Y
- 20.54%
- 3Y*
- 16.98%
- 5Y*
- 3.69%
- 10Y*
- -1.56%
BTAL vs. AKR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BTAL AGF U.S. Market Neutral Anti-Beta Fund | -17.58% | -20.17% | 12.83% | -15.11% | 20.48% | -6.81% | -13.86% | 1.07% | 15.13% | -2.13% |
AKR Acadia Realty Trust | 6.00% | -11.52% | 47.65% | 24.36% | -31.18% | 58.37% | -44.09% | 13.78% | -9.40% | -13.13% |
Correlation
The correlation between BTAL and AKR is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.34 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.30 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2011 | -0.27 |
Over the past year, the inverse relationship between BTAL and AKR has weakened: their correlation has moved from -0.27 to -0.06, meaning they move in opposite directions less often than they have historically.
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Return for Risk
BTAL vs. AKR — Risk / Return Rank
BTAL
AKR
BTAL vs. AKR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AGF U.S. Market Neutral Anti-Beta Fund (BTAL) and Acadia Realty Trust (AKR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BTAL | AKR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.19 | ||
| Sortino ratioReturn per unit of downside risk | -3.21 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.17 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.84 | 1.66 | -2.50 |
| Martin ratioReturn relative to average drawdown | -1.61 | 5.46 | -7.06 |
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Drawdowns
BTAL vs. AKR - Drawdown Comparison
The maximum BTAL drawdown since its inception was -52.70%, smaller than the maximum AKR drawdown of -71.02%. Use the drawdown chart below to compare losses from any high point for BTAL and AKR.
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Drawdown Indicators
| BTAL | AKR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.70% | -71.02% | +18.32% |
Max Drawdown (1Y)Largest decline over 1 year | -34.61% | -12.41% | -22.20% |
Max Drawdown (3Y)Largest decline over 3 years | -47.83% | -31.75% | -16.08% |
Max Drawdown (5Y)Largest decline over 5 years | -47.83% | -43.82% | -4.01% |
Max Drawdown (10Y)Largest decline over 10 years | -52.70% | -71.02% | +18.32% |
Current DrawdownCurrent decline from peak | -48.63% | -16.92% | -31.71% |
Average DrawdownAverage peak-to-trough decline | -22.15% | -24.35% | +2.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.00% | 3.77% | +14.23% |
Volatility
BTAL vs. AKR - Volatility Comparison
AGF U.S. Market Neutral Anti-Beta Fund (BTAL) has a higher volatility of 8.77% compared to Acadia Realty Trust (AKR) at 5.72%. This indicates that BTAL's price experiences larger fluctuations and is considered to be riskier than AKR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTAL | AKR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.77% | 5.72% | +3.05% |
Volatility (6M)Calculated over the trailing 6-month period | 17.19% | 15.92% | +1.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.28% | 21.80% | +1.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.23% | 27.97% | -8.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.36% | 34.34% | -16.98% |
Dividends
BTAL vs. AKR - Dividend Comparison
BTAL's dividend yield for the trailing twelve months is around 3.02%, less than AKR's 3.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AKR Acadia Realty Trust | 3.75% | 3.89% | 3.06% | 4.24% | 5.02% | 2.75% | 2.04% | 4.36% | 4.59% | 3.84% | 3.55% | 2.93% |
BTAL AGF U.S. Market Neutral Anti-Beta Fund | 3.02% | 2.49% | 3.49% | 6.14% | 1.01% | 0.00% | 0.00% | 0.88% | 0.39% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BTAL and AKR have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTAL has higher volatility (8.77%) compared to AKR (5.72%). In terms of maximum drawdown, BTAL dropped -52.70% vs AKR's -71.02%.
AKR currently has the higher Sharpe Ratio (0.95 vs -1.25), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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