BTAL vs. AVUV
BTAL (AGF U.S. Market Neutral Anti-Beta Fund) and AVUV (Avantis US Small Cap Value ETF) are both exchange-traded funds - BTAL is a Equity Market Neutral fund actively managed by AGF, while AVUV is a Small Cap Value Equities fund actively managed by Avantis. Both are actively managed. Over the past 5 years, BTAL returned -5.21%/yr vs 11.59%/yr for AVUV. At a correlation of -0.64, they often move in opposite directions. BTAL charges 1.40%/yr vs 0.25%/yr for AVUV.
Performance
BTAL vs. AVUV - Performance Comparison
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Returns By Period
In the year-to-date period, BTAL achieves a -21.75% return, which is significantly lower than AVUV's 20.76% return.
BTAL
- 1D
- 3.11%
- 1M
- -7.70%
- YTD
- -21.75%
- 6M
- -20.50%
- 1Y
- -36.96%
- 3Y*
- -13.01%
- 5Y*
- -5.21%
- 10Y*
- -5.50%
AVUV
- 1D
- 0.00%
- 1M
- 2.33%
- YTD
- 20.76%
- 6M
- 18.72%
- 1Y
- 38.38%
- 3Y*
- 20.03%
- 5Y*
- 11.59%
- 10Y*
- —
BTAL vs. AVUV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BTAL AGF U.S. Market Neutral Anti-Beta Fund | -21.75% | -20.17% | 12.83% | -15.11% | 20.48% | -6.81% | -13.86% | -5.19% |
AVUV Avantis US Small Cap Value ETF | 20.76% | 7.44% | 9.28% | 22.82% | -4.91% | 42.20% | 6.43% | 8.54% |
Correlation
The correlation between BTAL and AVUV is -0.55, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.61 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019 | -0.64 |
The correlation between BTAL and AVUV has been stable across timeframes, ranging from -0.64 to -0.55 - a consistent structural relationship.
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Return for Risk
BTAL vs. AVUV — Risk / Return Rank
BTAL
AVUV
BTAL vs. AVUV - 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 Avantis US Small Cap Value ETF (AVUV). 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 | AVUV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.81 | ||
| Sortino ratioReturn per unit of downside risk | -5.67 | ||
| Omega ratioGain probability vs. loss probability | 0.74 | 1.38 | -0.64 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | 4.85 | -5.83 |
| Martin ratioReturn relative to average drawdown | -1.85 | 14.37 | -16.22 |
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Drawdowns
BTAL vs. AVUV - Drawdown Comparison
The maximum BTAL drawdown since its inception was -52.70%, which is greater than AVUV's maximum drawdown of -49.42%. Use the drawdown chart below to compare losses from any high point for BTAL and AVUV.
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Drawdown Indicators
| BTAL | AVUV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.70% | -49.42% | -3.28% |
Max Drawdown (1Y)Largest decline over 1 year | -37.81% | -7.95% | -29.86% |
Max Drawdown (3Y)Largest decline over 3 years | -47.83% | -28.79% | -19.04% |
Max Drawdown (5Y)Largest decline over 5 years | -47.83% | -28.79% | -19.04% |
Max Drawdown (10Y)Largest decline over 10 years | -52.70% | — | — |
Current DrawdownCurrent decline from peak | -51.23% | -1.61% | -49.62% |
Average DrawdownAverage peak-to-trough decline | -22.05% | -7.89% | -14.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.21% | 2.68% | +18.53% |
Volatility
BTAL vs. AVUV - Volatility Comparison
AGF U.S. Market Neutral Anti-Beta Fund (BTAL) has a higher volatility of 9.28% compared to Avantis US Small Cap Value ETF (AVUV) at 4.28%. This indicates that BTAL's price experiences larger fluctuations and is considered to be riskier than AVUV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTAL | AVUV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.28% | 4.28% | +5.00% |
Volatility (6M)Calculated over the trailing 6-month period | 16.73% | 11.39% | +5.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.83% | 17.63% | +5.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.10% | 22.65% | -3.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.36% | 28.22% | -10.86% |
BTAL vs. AVUV - Expense Ratio Comparison
BTAL has a 1.40% expense ratio, which is higher than AVUV's 0.25% expense ratio.
Dividends
BTAL vs. AVUV - Dividend Comparison
BTAL's dividend yield for the trailing twelve months is around 3.18%, more than AVUV's 1.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
AVUV Avantis US Small Cap Value ETF | 1.63% | 1.58% | 1.61% | 1.65% | 1.74% | 1.28% | 1.21% | 0.38% | 0.00% |
BTAL AGF U.S. Market Neutral Anti-Beta Fund | 3.18% | 2.49% | 3.49% | 6.14% | 1.01% | 0.00% | 0.00% | 0.88% | 0.39% |
Frequently Asked Questions
BTAL and AVUV have a correlation of -0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTAL has higher volatility (9.28%) compared to AVUV (4.28%). In terms of maximum drawdown, BTAL dropped -52.70% vs AVUV's -49.42%.
On 5-year performance, AVUV leads with 11.59% vs -5.21% for BTAL. On fees, AVUV is cheaper at 0.25% per year. On volatility, AVUV has been the lower-risk option at 4.28%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, AVUV has performed better with a 11.59% return vs -5.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AVUV is cheaper with a 0.25% expense ratio, compared with 1.40% for BTAL.
BTAL has the higher dividend yield at 3.18%, compared with 1.63% for AVUV.
BTAL is categorized as Equity Market Neutral, while AVUV is Small Cap Value Equities. They also come from different issuers: AGF and Avantis. Their fees differ too: 1.40% for BTAL and 0.25% for AVUV.
AVUV currently has the higher Sharpe Ratio (2.19 vs -1.62), 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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