BTAL vs. MPAIX
BTAL (AGFiQ US Market Neutral Anti-Beta Fund) and MPAIX (Morgan Stanley Institutional Fund, Inc. Advantage Portfolio) are both funds - BTAL is a Long-Short fund tracking the Dow Jones U.S. Thematic Market Neutral Anti-Beta Total Return Index, while MPAIX is a Large Cap Growth Equities fund managed by T. Rowe Price. Over the past 10 years, BTAL returned -4.73%/yr vs 12.22%/yr for MPAIX. At a correlation of -0.47, they often move in opposite directions. BTAL charges 2.11%/yr vs 0.85%/yr for MPAIX.
Performance
BTAL vs. MPAIX - Performance Comparison
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Returns By Period
In the year-to-date period, BTAL achieves a -19.67% return, which is significantly lower than MPAIX's -2.26% return. Over the past 10 years, BTAL has underperformed MPAIX with an annualized return of -4.73%, while MPAIX has yielded a comparatively higher 12.22% annualized return.
BTAL
- 1D
- 0.70%
- 1M
- -6.55%
- YTD
- -19.67%
- 6M
- -18.88%
- 1Y
- -37.06%
- 3Y*
- -12.64%
- 5Y*
- -4.56%
- 10Y*
- -4.73%
MPAIX
- 1D
- -2.33%
- 1M
- 3.99%
- YTD
- -2.26%
- 6M
- -4.73%
- 1Y
- 0.98%
- 3Y*
- 21.21%
- 5Y*
- 0.66%
- 10Y*
- 12.22%
BTAL vs. MPAIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BTAL AGFiQ US Market Neutral Anti-Beta Fund | -19.67% | -20.17% | 12.83% | -15.11% | 20.48% | -6.81% | -13.86% | 1.07% | 15.13% | -2.13% |
MPAIX Morgan Stanley Institutional Fund, Inc. Advantage Portfolio | -2.26% | 18.96% | 36.20% | 46.28% | -54.25% | -4.91% | 74.81% | 29.09% | 2.07% | 32.08% |
Correlation
The correlation between BTAL and MPAIX is -0.54, 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 | -0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.70 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.51 |
Correlation (All Time) Calculated using the full available price history since Sep 14, 2011 | -0.47 |
The correlation between BTAL and MPAIX shifts across timeframes, from -0.70 (5 years) to -0.47 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BTAL vs. MPAIX — Risk / Return Rank
BTAL
MPAIX
BTAL vs. MPAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AGFiQ US Market Neutral Anti-Beta Fund (BTAL) and Morgan Stanley Institutional Fund, Inc. Advantage Portfolio (MPAIX). 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 | MPAIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.79 | ||
| Sortino ratioReturn per unit of downside risk | -2.96 | ||
| Omega ratioGain probability vs. loss probability | 0.72 | 1.03 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | 0.07 | -1.06 |
| Martin ratioReturn relative to average drawdown | -1.72 | 0.14 | -1.87 |
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 | MPAIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.72 | 0.07 | -1.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.24 | 0.02 | -0.26 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.28 | 0.42 | -0.69 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.24 | 0.44 | -0.68 |
Drawdowns
BTAL vs. MPAIX - Drawdown Comparison
The maximum BTAL drawdown since its inception was -50.28%, smaller than the maximum MPAIX drawdown of -64.09%. Use the drawdown chart below to compare losses from any high point for BTAL and MPAIX.
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Drawdown Indicators
| BTAL | MPAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.28% | -64.09% | +13.81% |
Max Drawdown (1Y)Largest decline over 1 year | -37.50% | -24.41% | -13.09% |
Max Drawdown (3Y)Largest decline over 3 years | -45.16% | -27.15% | -18.01% |
Max Drawdown (5Y)Largest decline over 5 years | -45.16% | -64.09% | +18.93% |
Max Drawdown (10Y)Largest decline over 10 years | -50.28% | -64.09% | +13.81% |
Current DrawdownCurrent decline from peak | -49.93% | -12.31% | -37.62% |
Average DrawdownAverage peak-to-trough decline | -21.95% | -13.53% | -8.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.54% | 11.64% | +9.90% |
Volatility
BTAL vs. MPAIX - Volatility Comparison
AGFiQ US Market Neutral Anti-Beta Fund (BTAL) and Morgan Stanley Institutional Fund, Inc. Advantage Portfolio (MPAIX) have volatilities of 7.54% and 7.65%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTAL | MPAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.54% | 7.65% | -0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 15.38% | 19.32% | -3.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.59% | 24.54% | -2.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.75% | 35.55% | -16.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.23% | 29.54% | -12.31% |
BTAL vs. MPAIX - Expense Ratio Comparison
BTAL has a 2.11% expense ratio, which is higher than MPAIX's 0.85% expense ratio.
Dividends
BTAL vs. MPAIX - Dividend Comparison
BTAL's dividend yield for the trailing twelve months is around 3.10%, more than MPAIX's 0.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BTAL AGFiQ US Market Neutral Anti-Beta Fund | 3.10% | 2.49% | 3.49% | 6.14% | 1.01% | 0.00% | 0.00% | 0.88% | 0.39% | 0.00% | 0.00% | 0.00% |
MPAIX Morgan Stanley Institutional Fund, Inc. Advantage Portfolio | 0.03% | 0.03% | 1.50% | 0.00% | 28.33% | 23.18% | 5.16% | 3.77% | 4.54% | 7.43% | 2.17% | 8.89% |
Frequently Asked Questions
BTAL and MPAIX have a correlation of -0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MPAIX has higher volatility (7.65%) compared to BTAL (7.54%). In terms of maximum drawdown, BTAL dropped -50.28% vs MPAIX's -64.09%.
MPAIX currently has the higher Sharpe Ratio (0.07 vs -1.72), 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.
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