BTAL vs. DTLA.L
BTAL (AGFiQ US Market Neutral Anti-Beta Fund) and DTLA.L (iShares USD Treasury Bond 20+yr UCITS ETF USD (Acc)) are both exchange-traded funds - BTAL is a Long-Short fund tracking the Dow Jones U.S. Thematic Market Neutral Anti-Beta Total Return Index, while DTLA.L is a Government Bonds fund tracking the ICE US Treasury 20+ Year Index. Both are passively managed. Over the past 5 years, BTAL returned -4.94%/yr vs -6.37%/yr for DTLA.L. At a 0.09 correlation, their price movements are largely independent. BTAL charges 2.11%/yr vs 0.07%/yr for DTLA.L.
Performance
BTAL vs. DTLA.L - Performance Comparison
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Returns By Period
In the year-to-date period, BTAL achieves a -20.15% return, which is significantly lower than DTLA.L's -0.86% return.
BTAL
- 1D
- -0.09%
- 1M
- -4.17%
- YTD
- -20.15%
- 6M
- -19.27%
- 1Y
- -37.44%
- 3Y*
- -12.17%
- 5Y*
- -4.94%
- 10Y*
- -5.05%
DTLA.L
- 1D
- 0.44%
- 1M
- 1.10%
- YTD
- -0.86%
- 6M
- 0.88%
- 1Y
- 4.30%
- 3Y*
- -1.20%
- 5Y*
- -6.37%
- 10Y*
- —
BTAL vs. DTLA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BTAL AGFiQ US Market Neutral Anti-Beta Fund | -20.15% | -20.17% | 12.83% | -15.11% | 20.48% | -6.81% | -13.86% | 1.07% | 15.30% |
DTLA.L iShares USD Treasury Bond 20+yr UCITS ETF USD (Acc) | -0.86% | 4.49% | -6.90% | 1.69% | -30.29% | -4.46% | 17.00% | 15.69% | 3.65% |
Correlation
The correlation between BTAL and DTLA.L is -0.00, 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 | -0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since May 10, 2018 | 0.09 |
The correlation between BTAL and DTLA.L shifts across timeframes, from -0.06 (3 years) to 0.09 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BTAL vs. DTLA.L — Risk / Return Rank
BTAL
DTLA.L
BTAL vs. DTLA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AGFiQ US Market Neutral Anti-Beta Fund (BTAL) and iShares USD Treasury Bond 20+yr UCITS ETF USD (Acc) (DTLA.L). 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 | DTLA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.97 | ||
| Sortino ratioReturn per unit of downside risk | -3.11 | ||
| Omega ratioGain probability vs. loss probability | 0.73 | 1.06 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | 0.45 | -1.43 |
| Martin ratioReturn relative to average drawdown | -1.64 | 1.12 | -2.76 |
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Drawdowns
BTAL vs. DTLA.L - Drawdown Comparison
The maximum BTAL drawdown since its inception was -50.28%, roughly equal to the maximum DTLA.L drawdown of -48.41%. Use the drawdown chart below to compare losses from any high point for BTAL and DTLA.L.
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Drawdown Indicators
| BTAL | DTLA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.28% | -48.41% | -1.87% |
Max Drawdown (1Y)Largest decline over 1 year | -37.50% | -7.50% | -30.00% |
Max Drawdown (3Y)Largest decline over 3 years | -45.16% | -18.57% | -26.59% |
Max Drawdown (5Y)Largest decline over 5 years | -45.16% | -42.80% | -2.36% |
Max Drawdown (10Y)Largest decline over 10 years | -50.28% | — | — |
Current DrawdownCurrent decline from peak | -50.23% | -40.40% | -9.83% |
Average DrawdownAverage peak-to-trough decline | -22.01% | -24.06% | +2.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.38% | 3.00% | +19.38% |
Volatility
BTAL vs. DTLA.L - Volatility Comparison
AGFiQ US Market Neutral Anti-Beta Fund (BTAL) has a higher volatility of 8.74% compared to iShares USD Treasury Bond 20+yr UCITS ETF USD (Acc) (DTLA.L) at 3.33%. This indicates that BTAL's price experiences larger fluctuations and is considered to be riskier than DTLA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTAL | DTLA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.74% | 3.33% | +5.41% |
Volatility (6M)Calculated over the trailing 6-month period | 16.58% | 6.74% | +9.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.49% | 10.03% | +12.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.96% | 14.95% | +4.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.33% | 14.79% | +2.54% |
BTAL vs. DTLA.L - Expense Ratio Comparison
BTAL has a 2.11% expense ratio, which is higher than DTLA.L's 0.07% expense ratio.
Dividends
BTAL vs. DTLA.L - Dividend Comparison
BTAL's dividend yield for the trailing twelve months is around 3.11%, while DTLA.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BTAL AGFiQ US Market Neutral Anti-Beta Fund | 3.11% | 2.49% | 3.49% | 6.14% | 1.01% | 0.00% | 0.00% | 0.88% | 0.39% |
DTLA.L iShares USD Treasury Bond 20+yr UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BTAL and DTLA.L have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DTLA.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DTLA.L is cheaper with a 0.07% expense ratio, compared with 2.11% for BTAL.
BTAL is categorized as Long-Short, while DTLA.L is Government Bonds. BTAL tracks Dow Jones U.S. Thematic Market Neutral Anti-Beta Total Return Index, while DTLA.L tracks ICE US Treasury 20+ Year Index. They also come from different issuers: AGF and iShares. Their fees differ too: 2.11% for BTAL and 0.07% for DTLA.L.
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