BTAL vs. FAD
BTAL (AGF U.S. Market Neutral Anti-Beta Fund) and FAD (First Trust Multi Cap Growth AlphaDEX Fund) are both exchange-traded funds - BTAL is a Equity Market Neutral fund actively managed by AGF, while FAD is a Mid Cap Growth Equities fund tracking the NASDAQ AlphaDEX Multi Cap Growth Index. BTAL is actively managed, while FAD is passively managed. Over the past 10 years, BTAL returned -4.73%/yr vs 13.85%/yr for FAD. At a correlation of -0.53, they often move in opposite directions. BTAL charges 1.40%/yr vs 0.63%/yr for FAD.
Performance
BTAL vs. FAD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BTAL achieves a -17.44% return, which is significantly lower than FAD's 14.65% return. Over the past 10 years, BTAL has underperformed FAD with an annualized return of -4.73%, while FAD has yielded a comparatively higher 13.85% annualized return.
BTAL
- 1D
- 2.68%
- 1M
- 5.41%
- 6M
- -14.66%
- YTD
- -17.44%
- 1Y
- -28.44%
- 3Y*
- -9.44%
- 5Y*
- -4.93%
- 10Y*
- -4.73%
FAD
- 1D
- -1.46%
- 1M
- -3.42%
- 6M
- 8.88%
- YTD
- 14.65%
- 1Y
- 25.85%
- 3Y*
- 20.03%
- 5Y*
- 10.53%
- 10Y*
- 13.85%
BTAL vs. FAD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BTAL AGF U.S. Market Neutral Anti-Beta Fund | -17.44% | -20.17% | 12.83% | -15.11% | 20.48% | -6.81% | -13.86% | 1.07% | 15.13% | -2.13% |
FAD First Trust Multi Cap Growth AlphaDEX Fund | 14.65% | 17.23% | 23.85% | 19.07% | -24.06% | 21.17% | 34.92% | 26.66% | -6.45% | 25.75% |
Correlation
The correlation between BTAL and FAD is -0.83, 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 | -0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.72 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.58 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2011 | -0.53 |
Over the past year, the inverse relationship between BTAL and FAD has strengthened: their correlation has moved from -0.53 to -0.83, meaning they now move in opposite directions more often than their long-term average.
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. FAD — Risk / Return Rank
BTAL
FAD
BTAL vs. FAD - 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 First Trust Multi Cap Growth AlphaDEX Fund (FAD). 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 | FAD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.51 | ||
| Sortino ratioReturn per unit of downside risk | -3.64 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.23 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | 2.43 | -3.26 |
| Martin ratioReturn relative to average drawdown | -1.56 | 8.65 | -10.21 |
Loading charts...
Drawdowns
BTAL vs. FAD - Drawdown Comparison
The maximum BTAL drawdown since its inception was -52.70%, roughly equal to the maximum FAD drawdown of -54.33%. Use the drawdown chart below to compare losses from any high point for BTAL and FAD.
Loading charts...
Drawdown Indicators
| BTAL | FAD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.70% | -54.33% | +1.63% |
Max Drawdown (1Y)Largest decline over 1 year | -34.57% | -10.66% | -23.91% |
Max Drawdown (3Y)Largest decline over 3 years | -47.83% | -23.55% | -24.28% |
Max Drawdown (5Y)Largest decline over 5 years | -47.83% | -31.99% | -15.84% |
Max Drawdown (10Y)Largest decline over 10 years | -52.70% | -37.25% | -15.45% |
Current DrawdownCurrent decline from peak | -48.54% | -7.25% | -41.29% |
Average DrawdownAverage peak-to-trough decline | -22.17% | -9.60% | -12.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.24% | 3.00% | +15.24% |
Volatility
BTAL vs. FAD - Volatility Comparison
AGF U.S. Market Neutral Anti-Beta Fund (BTAL) has a higher volatility of 7.79% compared to First Trust Multi Cap Growth AlphaDEX Fund (FAD) at 6.44%. This indicates that BTAL's price experiences larger fluctuations and is considered to be riskier than FAD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| BTAL | FAD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.79% | 6.44% | +1.35% |
Volatility (6M)Calculated over the trailing 6-month period | 17.46% | 15.99% | +1.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.44% | 20.17% | +3.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.27% | 20.86% | -1.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.39% | 21.31% | -3.92% |
BTAL vs. FAD - Expense Ratio Comparison
BTAL has a 1.40% expense ratio, which is higher than FAD's 0.63% expense ratio.
Dividends
BTAL vs. FAD - Dividend Comparison
BTAL's dividend yield for the trailing twelve months is around 3.01%, more than FAD's 0.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BTAL AGF U.S. Market Neutral Anti-Beta Fund | 3.01% | 2.49% | 3.49% | 6.14% | 1.01% | 0.00% | 0.00% | 0.88% | 0.39% | 0.00% | 0.00% | 0.00% |
FAD First Trust Multi Cap Growth AlphaDEX Fund | 0.10% | 0.09% | 0.59% | 0.51% | 0.60% | 0.09% | 0.32% | 0.48% | 0.20% | 0.22% | 0.64% | 0.41% |
Frequently Asked Questions
BTAL and FAD have a correlation of -0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTAL has higher volatility (7.79%) compared to FAD (6.44%). In terms of maximum drawdown, BTAL dropped -52.70% vs FAD's -54.33%.
On 10-year performance, FAD leads with 13.85% vs -4.73% for BTAL. On fees, FAD is cheaper at 0.63% per year. On volatility, FAD has been the lower-risk option at 6.44%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FAD has performed better with a 13.85% return vs -4.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FAD is cheaper with a 0.63% expense ratio, compared with 1.40% for BTAL.
BTAL has the higher dividend yield at 3.01%, compared with 0.10% for FAD.
BTAL is categorized as Equity Market Neutral, while FAD is Mid Cap Growth Equities. They also come from different issuers: AGF and First Trust. Their fees differ too: 1.40% for BTAL and 0.63% for FAD.
FAD currently has the higher Sharpe Ratio (1.29 vs -1.22), 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 FAD
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