BTAL vs. MKTN
BTAL (AGF U.S. Market Neutral Anti-Beta Fund) and MKTN (Federated Hermes MDT Market Neutral ETF) are both Equity Market Neutral funds. Both are actively managed. Their 0.16 correlation means their historical movements had little consistent relationship. BTAL charges 1.40%/yr vs 1.94%/yr for MKTN.
Performance
BTAL vs. MKTN - Performance Comparison
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Returns By Period
In the year-to-date period, BTAL achieves a -14.87% return, which is significantly lower than MKTN's 6.46% return.
BTAL
- 1D
- -0.33%
- 1M
- 5.79%
- 6M
- -13.85%
- YTD
- -14.87%
- 1Y
- -25.47%
- 3Y*
- -8.33%
- 5Y*
- -4.14%
- 10Y*
- -4.41%
- ALL TIME*
- -3.78%
MKTN
- 1D
- 0.33%
- 1M
- 4.57%
- 6M
- 7.01%
- YTD
- 6.46%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $10.19M | $8.38M | $8.16M | |
| $666.28K | $482.62K | $621.59K |
BTAL vs. MKTN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BTAL AGF U.S. Market Neutral Anti-Beta Fund | -14.87% | -6.34% |
MKTN Federated Hermes MDT Market Neutral ETF | 6.46% | 3.22% |
Correlation
The correlation between BTAL and MKTN is 0.16, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 25, 2025 | 0.16 |
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Return for Risk
BTAL vs. MKTN — Risk / Return Rank
BTAL
MKTN
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BTAL vs. MKTN - 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 Federated Hermes MDT Market Neutral ETF (MKTN). 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 | MKTN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.85 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.69 | — | — |
| Martin ratioReturn relative to average drawdown | -1.25 | — | — |
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Drawdowns
BTAL vs. MKTN - Drawdown Comparison
The maximum BTAL drawdown since its inception was -52.70%, which is greater than MKTN's maximum drawdown of -4.13%. Use the drawdown chart below to compare losses from any high point for BTAL and MKTN.
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Drawdown Indicators
| BTAL | MKTN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.70% | -4.13% | -48.57% |
Max Drawdown (1Y)Largest decline over 1 year | -34.57% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -47.83% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -47.83% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -52.70% | — | — |
Current DrawdownCurrent decline from peak | -46.94% | 0.00% | -46.94% |
Average DrawdownAverage peak-to-trough decline | -22.25% | -1.08% | -21.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.09% | — | — |
Volatility
BTAL vs. MKTN - Volatility Comparison
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Volatility by Period
| BTAL | MKTN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.89% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 17.97% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 23.85% | 6.65% | +17.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.39% | 6.65% | +12.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.47% | 6.65% | +10.82% |
BTAL vs. MKTN - Expense Ratio Comparison
BTAL has a 1.40% expense ratio, which is lower than MKTN's 1.94% expense ratio.
Dividends
BTAL vs. MKTN - Dividend Comparison
BTAL's dividend yield for the trailing twelve months is around 2.92%, more than MKTN's 0.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BTAL AGF U.S. Market Neutral Anti-Beta Fund | 2.92% | 2.49% | 3.49% | 6.14% | 1.01% | 0.00% | 0.00% | 0.88% | 0.39% |
MKTN Federated Hermes MDT Market Neutral ETF | 0.48% | 0.51% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BTAL and MKTN have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BTAL is cheaper at 1.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BTAL is cheaper with a 1.40% expense ratio, compared with 1.94% for MKTN.
BTAL has the higher dividend yield at 2.92%, compared with 0.48% for MKTN.
They also come from different issuers: AGF and Federated. Their fees differ too: 1.40% for BTAL and 1.94% for MKTN.
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