BTAL vs. SCHD

Last updated Jun 9, 2026

BTAL (AGFiQ US Market Neutral Anti-Beta Fund) and SCHD (Schwab U.S. Dividend Equity ETF) are both exchange-traded funds - BTAL is a Long-Short fund tracking the Dow Jones U.S. Thematic Market Neutral Anti-Beta Total Return Index, while SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index. Both are passively managed. Over the past 10 years, BTAL returned -4.76%/yr vs 12.65%/yr for SCHD. At a correlation of -0.40, they often move in opposite directions. BTAL charges 2.11%/yr vs 0.06%/yr for SCHD.

Performance

BTAL vs. SCHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AGFiQ US Market Neutral Anti-Beta Fund (BTAL) and Schwab U.S. Dividend Equity ETF (SCHD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTAL achieves a -18.69% return, which is significantly lower than SCHD's 18.71% return. Over the past 10 years, BTAL has underperformed SCHD with an annualized return of -4.76%, while SCHD has yielded a comparatively higher 12.65% annualized return.

BTAL

• 1D: -2.26%
• 1M: -2.66%
• YTD: -18.69%
• 6M: -16.94%
• 1Y: -35.41%
• 3Y*: -12.18%
• 5Y*: -4.53%
• 10Y*: -4.76%

SCHD

• 1D: -0.03%
• 1M: 2.12%
• YTD: 18.71%
• 6M: 19.28%
• 1Y: 26.37%
• 3Y*: 14.73%
• 5Y*: 8.49%
• 10Y*: 12.65%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BTAL vs. SCHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BTAL AGFiQ US Market Neutral Anti-Beta Fund	-18.69%	-20.17%	12.83%	-15.11%	20.48%	-6.81%	-13.86%	1.07%	15.13%	-2.13%
SCHD Schwab U.S. Dividend Equity ETF	18.71%	4.34%	11.66%	4.54%	-3.26%	29.87%	15.03%	27.29%	-5.56%	20.85%

Correlation

The correlation between BTAL and SCHD is -0.16, 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	-0.16
Correlation (3Y) Calculated over the trailing 3-year period	-0.29
Correlation (5Y) Calculated over the trailing 5-year period	-0.36
Correlation (10Y) Calculated over the trailing 10-year period	-0.42
Correlation (All Time) Calculated using the full available price history since Oct 20, 2011	-0.40

Over the past year, the inverse relationship between BTAL and SCHD has weakened: their correlation has moved from -0.40 to -0.16, meaning they move in opposite directions less often than they have historically.

BTAL vs. SCHD - Sectors Allocation Comparison

Sectors	BTAL	SCHD
Technology	19.5%	16.4%
Financial Services	14.9%	9.3%
Industrials	13.7%	7.5%
Consumer Cyclical	12.8%	6.3%
Healthcare	10.2%	18.8%
Real Estate	6.2%	-
Consumer Defensive	5.6%	19.2%
Utilities	5.2%	0.0%
Energy	4.4%	16.2%
Basic Materials	4.0%	1.2%
Communication Services	3.4%	6.3%

Return for Risk

BTAL vs. SCHD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BTAL

BTAL Risk / Return Rank: 0
BTAL Sharpe Ratio Rank: 0
BTAL Sortino Ratio Rank: 0
BTAL Omega Ratio Rank: 0
BTAL Calmar Ratio Rank: 1
BTAL Martin Ratio Rank: 1

SCHD

SCHD Risk / Return Rank: 85
SCHD Sharpe Ratio Rank: 83
SCHD Sortino Ratio Rank: 89
SCHD Omega Ratio Rank: 81
SCHD Calmar Ratio Rank: 92
SCHD Martin Ratio Rank: 80

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BTAL vs. SCHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AGFiQ US Market Neutral Anti-Beta Fund (BTAL) and Schwab U.S. Dividend Equity ETF (SCHD). 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	SCHD	Difference
Sharpe ratio: Return per unit of total volatility	-1.61	2.43	-4.04
Sortino ratio: Return per unit of downside risk	-2.52	3.75	-6.27
Omega ratio: Gain probability vs. loss probability	0.74	1.43	-0.69
Calmar ratio: Return relative to maximum drawdown	-0.95	5.74	-6.69
Martin ratio: Return relative to average drawdown	-1.62	14.06	-15.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BTAL vs. SCHD - Sharpe Ratio Comparison

The current BTAL Sharpe Ratio is -1.61, which is lower than the SCHD Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of BTAL and SCHD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BTAL	SCHD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.61	2.43	-4.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.24	0.59	-0.83
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.28	0.76	-1.04
Sharpe Ratio (All Time) Calculated using the full available price history	-0.24	0.86	-1.10

Drawdowns

BTAL vs. SCHD - Drawdown Comparison

The maximum BTAL drawdown since its inception was -50.28%, which is greater than SCHD's maximum drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for BTAL and SCHD.

Drawdown Indicators

	BTAL	SCHD	Difference
Max Drawdown Largest peak-to-trough decline	-50.28%	-33.37%	-16.91%
Max Drawdown (1Y) Largest decline over 1 year	-37.50%	-4.61%	-32.89%
Max Drawdown (3Y) Largest decline over 3 years	-45.16%	-16.13%	-29.03%
Max Drawdown (5Y) Largest decline over 5 years	-45.16%	-16.85%	-28.31%
Max Drawdown (10Y) Largest decline over 10 years	-50.28%	-33.37%	-16.91%
Current Drawdown Current decline from peak	-49.32%	-1.64%	-47.68%
Average Drawdown Average peak-to-trough decline	-21.98%	-3.32%	-18.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.90%	1.88%	+20.02%

Volatility

BTAL vs. SCHD - Volatility Comparison

AGFiQ US Market Neutral Anti-Beta Fund (BTAL) has a higher volatility of 7.68% compared to Schwab U.S. Dividend Equity ETF (SCHD) at 2.83%. This indicates that BTAL's price experiences larger fluctuations and is considered to be riskier than SCHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTAL	SCHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.68%	2.83%	+4.85%
Volatility (6M) Calculated over the trailing 6-month period	15.98%	7.60%	+8.38%
Volatility (1Y) Calculated over the trailing 1-year period	22.07%	10.94%	+11.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.86%	14.38%	+4.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.29%	16.72%	+0.57%

BTAL vs. SCHD - Expense Ratio Comparison

BTAL has a 2.11% expense ratio, which is higher than SCHD's 0.06% expense ratio.

Dividends

BTAL vs. SCHD - Dividend Comparison

BTAL's dividend yield for the trailing twelve months is around 3.06%, less than SCHD's 3.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BTAL AGFiQ US Market Neutral Anti-Beta Fund	3.06%	2.49%	3.49%	6.14%	1.01%	0.00%	0.00%	0.88%	0.39%	0.00%	0.00%	0.00%
SCHD Schwab U.S. Dividend Equity ETF	3.27%	3.82%	3.64%	3.49%	3.39%	2.78%	3.16%	2.98%	3.06%	2.63%	2.89%	2.97%

Frequently Asked Questions

Can I hold both BTAL and SCHD in my portfolio?

BTAL and SCHD 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.

Which is riskier, BTAL or SCHD?

BTAL has higher volatility (7.68%) compared to SCHD (2.83%). In terms of maximum drawdown, BTAL dropped -50.28% vs SCHD's -33.37%.

Which ETF is better, BTAL or SCHD?

On 10-year performance, SCHD leads with 12.65% vs -4.76% for BTAL. On fees, SCHD is cheaper at 0.06% per year. On volatility, SCHD has been the lower-risk option at 2.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BTAL or SCHD?

Over the 10-year period, SCHD has performed better with a 12.65% return vs -4.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BTAL or SCHD?

SCHD is cheaper with a 0.06% expense ratio, compared with 2.11% for BTAL.

Which ETF pays a higher dividend yield, BTAL or SCHD?

SCHD has the higher dividend yield at 3.27%, compared with 3.06% for BTAL.

What is the main difference between BTAL and SCHD?

BTAL is categorized as Long-Short, while SCHD is Dividend. BTAL tracks Dow Jones U.S. Thematic Market Neutral Anti-Beta Total Return Index, while SCHD tracks Dow Jones U.S. Dividend 100 Index. They also come from different issuers: AGF and Charles Schwab. Their fees differ too: 2.11% for BTAL and 0.06% for SCHD.

Which has better risk-adjusted returns?

SCHD currently has the higher Sharpe Ratio (2.43 vs -1.61), 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.