BTAL vs. DWSH
BTAL (AGF U.S. Market Neutral Anti-Beta Fund) and DWSH (AdvisorShares Dorsey Wright Short ETF) are both exchange-traded funds - BTAL is a Equity Market Neutral fund actively managed by AGF, while DWSH is a Inverse Equities fund actively managed by AdvisorShares. Both are actively managed. Over the past 5 years, BTAL returned -5.21%/yr vs -0.92%/yr for DWSH. A 0.61 correlation means they provide meaningful diversification when combined. BTAL charges 1.40%/yr vs 3.67%/yr for DWSH.
Performance
BTAL vs. DWSH - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BTAL achieves a -21.75% return, which is significantly lower than DWSH's 2.65% 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%
DWSH
- 1D
- -0.90%
- 1M
- 1.93%
- YTD
- 2.65%
- 6M
- 2.01%
- 1Y
- -7.25%
- 3Y*
- -3.79%
- 5Y*
- -0.92%
- 10Y*
- —
BTAL vs. DWSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BTAL AGF U.S. Market Neutral Anti-Beta Fund | -21.75% | -20.17% | 12.83% | -15.11% | 20.48% | -6.81% | -13.86% | 1.07% | 11.65% |
DWSH AdvisorShares Dorsey Wright Short ETF | 2.65% | -2.57% | 5.98% | -22.04% | 17.45% | -25.74% | -49.95% | -25.27% | 22.37% |
Correlation
The correlation between BTAL and DWSH is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Jul 11, 2018 | 0.61 |
Over the past year, the correlation between BTAL and DWSH has dropped to 0.22 - well below their long-term average of 0.61, suggesting their price drivers have been diverging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BTAL vs. DWSH — Risk / Return Rank
BTAL
DWSH
BTAL vs. DWSH - 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 AdvisorShares Dorsey Wright Short ETF (DWSH). 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 | DWSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.28 | ||
| Sortino ratioReturn per unit of downside risk | -2.20 | ||
| Omega ratioGain probability vs. loss probability | 0.74 | 0.96 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | -0.48 | -0.50 |
| Martin ratioReturn relative to average drawdown | -1.85 | -0.80 | -1.05 |
Loading charts...
Drawdowns
BTAL vs. DWSH - Drawdown Comparison
The maximum BTAL drawdown since its inception was -52.70%, smaller than the maximum DWSH drawdown of -82.73%. Use the drawdown chart below to compare losses from any high point for BTAL and DWSH.
Loading charts...
Drawdown Indicators
| BTAL | DWSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.70% | -82.73% | +30.03% |
Max Drawdown (1Y)Largest decline over 1 year | -37.81% | -15.13% | -22.68% |
Max Drawdown (3Y)Largest decline over 3 years | -47.83% | -29.23% | -18.60% |
Max Drawdown (5Y)Largest decline over 5 years | -47.83% | -32.87% | -14.96% |
Max Drawdown (10Y)Largest decline over 10 years | -52.70% | — | — |
Current DrawdownCurrent decline from peak | -51.23% | -80.92% | +29.69% |
Average DrawdownAverage peak-to-trough decline | -22.05% | -63.69% | +41.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.21% | 9.99% | +11.22% |
Volatility
BTAL vs. DWSH - Volatility Comparison
AGF U.S. Market Neutral Anti-Beta Fund (BTAL) has a higher volatility of 9.28% compared to AdvisorShares Dorsey Wright Short ETF (DWSH) at 6.64%. This indicates that BTAL's price experiences larger fluctuations and is considered to be riskier than DWSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| BTAL | DWSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.28% | 6.64% | +2.64% |
Volatility (6M)Calculated over the trailing 6-month period | 16.73% | 14.32% | +2.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.83% | 20.93% | +1.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.10% | 25.99% | -6.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.36% | 31.15% | -13.79% |
BTAL vs. DWSH - Expense Ratio Comparison
BTAL has a 1.40% expense ratio, which is lower than DWSH's 3.67% expense ratio.
Dividends
BTAL vs. DWSH - Dividend Comparison
BTAL's dividend yield for the trailing twelve months is around 3.18%, less than DWSH's 6.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
DWSH AdvisorShares Dorsey Wright Short ETF | 6.15% | 6.31% | 6.17% | 10.28% | 0.00% | 0.00% | 0.00% | 0.14% | 0.12% |
Frequently Asked Questions
BTAL and DWSH have a correlation of 0.22, 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 DWSH (6.64%). In terms of maximum drawdown, BTAL dropped -52.70% vs DWSH's -82.73%.
On 5-year performance, DWSH leads with -0.92% vs -5.21% for BTAL. On fees, BTAL is cheaper at 1.40% per year. On volatility, DWSH has been the lower-risk option at 6.64%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DWSH has performed better with a -0.92% return vs -5.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BTAL is cheaper with a 1.40% expense ratio, compared with 3.67% for DWSH.
DWSH has the higher dividend yield at 6.15%, compared with 3.18% for BTAL.
BTAL is categorized as Equity Market Neutral, while DWSH is Inverse Equities. They also come from different issuers: AGF and AdvisorShares. Their fees differ too: 1.40% for BTAL and 3.67% for DWSH.
DWSH currently has the higher Sharpe Ratio (-0.35 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.
Find the right allocation for BTAL and DWSH
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer