BTAL vs. KMLM
Compare and contrast key facts about AGFiQ US Market Neutral Anti-Beta Fund (BTAL) and KFA Mount Lucas Index Strategy ETF (KMLM).
BTAL and KMLM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BTAL is a passively managed fund by AGF that tracks the performance of the Dow Jones U.S. Thematic Market Neutral Anti-Beta Total Return Index. It was launched on Sep 13, 2011. KMLM is an actively managed fund by CICC. It was launched on Dec 2, 2020.
Performance
BTAL vs. KMLM - Performance Comparison
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BTAL vs. KMLM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BTAL AGFiQ US Market Neutral Anti-Beta Fund | -2.99% | -20.17% | 12.83% | -15.11% | 20.48% | -6.81% | -0.37% |
KMLM KFA Mount Lucas Index Strategy ETF | 8.67% | -2.98% | -1.69% | -5.66% | 30.61% | 7.04% | 5.40% |
Returns By Period
In the year-to-date period, BTAL achieves a -2.99% return, which is significantly lower than KMLM's 8.67% return.
BTAL
- 1D
- -2.72%
- 1M
- -0.85%
- YTD
- -2.99%
- 6M
- -10.10%
- 1Y
- -31.33%
- 3Y*
- -8.29%
- 5Y*
- -1.50%
- 10Y*
- -3.16%
KMLM
- 1D
- -0.28%
- 1M
- 4.21%
- YTD
- 8.67%
- 6M
- 10.01%
- 1Y
- 8.60%
- 3Y*
- 0.44%
- 5Y*
- 5.63%
- 10Y*
- —
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BTAL vs. KMLM - Expense Ratio Comparison
BTAL has a 2.11% expense ratio, which is higher than KMLM's 0.90% expense ratio.
Return for Risk
BTAL vs. KMLM — Risk / Return Rank
BTAL
KMLM
BTAL vs. KMLM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AGFiQ US Market Neutral Anti-Beta Fund (BTAL) and KFA Mount Lucas Index Strategy ETF (KMLM). 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.
| BTAL | KMLM | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -1.40 | 0.88 | -2.28 |
Sortino ratioReturn per unit of downside risk | -2.13 | 1.27 | -3.40 |
Omega ratioGain probability vs. loss probability | 0.77 | 1.16 | -0.39 |
Calmar ratioReturn relative to maximum drawdown | -0.88 | 1.13 | -2.01 |
Martin ratioReturn relative to average drawdown | -1.20 | 3.31 | -4.51 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BTAL | KMLM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.40 | 0.88 | -2.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.08 | 0.39 | -0.47 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.19 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.17 | 0.49 | -0.66 |
Correlation
The correlation between BTAL and KMLM is 0.07, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
BTAL vs. KMLM - Dividend Comparison
BTAL's dividend yield for the trailing twelve months is around 2.56%, less than KMLM's 4.62% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BTAL AGFiQ US Market Neutral Anti-Beta Fund | 2.56% | 2.49% | 3.49% | 6.14% | 1.01% | 0.00% | 0.00% | 0.88% | 0.39% |
KMLM KFA Mount Lucas Index Strategy ETF | 4.62% | 5.02% | 0.82% | 0.00% | 13.22% | 6.94% | 0.00% | 0.00% | 0.00% |
Drawdowns
BTAL vs. KMLM - Drawdown Comparison
The maximum BTAL drawdown since its inception was -41.01%, which is greater than KMLM's maximum drawdown of -27.47%. Use the drawdown chart below to compare losses from any high point for BTAL and KMLM.
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Drawdown Indicators
| BTAL | KMLM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.01% | -27.47% | -13.54% |
Max Drawdown (1Y)Largest decline over 1 year | -34.94% | -6.73% | -28.21% |
Max Drawdown (5Y)Largest decline over 5 years | -34.94% | -27.47% | -7.47% |
Max Drawdown (10Y)Largest decline over 10 years | -41.01% | — | — |
Current DrawdownCurrent decline from peak | -39.53% | -15.27% | -24.26% |
Average DrawdownAverage peak-to-trough decline | -21.67% | -12.73% | -8.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.64% | 2.41% | +23.23% |
Volatility
BTAL vs. KMLM - Volatility Comparison
AGFiQ US Market Neutral Anti-Beta Fund (BTAL) has a higher volatility of 6.87% compared to KFA Mount Lucas Index Strategy ETF (KMLM) at 4.05%. This indicates that BTAL's price experiences larger fluctuations and is considered to be riskier than KMLM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTAL | KMLM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.87% | 4.05% | +2.82% |
Volatility (6M)Calculated over the trailing 6-month period | 15.84% | 7.22% | +8.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.51% | 9.84% | +12.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.36% | 14.57% | +3.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.04% | 14.67% | +2.37% |