BTAL vs. TFLO
BTAL (AGFiQ US Market Neutral Anti-Beta Fund) and TFLO (iShares Treasury Floating Rate Bond 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 TFLO is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Index. Both are passively managed. Over the past 10 years, BTAL returned -4.76%/yr vs 2.37%/yr for TFLO. At a 0.01 correlation, their price movements are largely independent. BTAL charges 2.11%/yr vs 0.15%/yr for TFLO.
Performance
BTAL vs. TFLO - Performance Comparison
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Returns By Period
In the year-to-date period, BTAL achieves a -18.69% return, which is significantly lower than TFLO's 1.65% return. Over the past 10 years, BTAL has underperformed TFLO with an annualized return of -4.76%, while TFLO has yielded a comparatively higher 2.37% 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%
TFLO
- 1D
- 0.04%
- 1M
- 0.29%
- YTD
- 1.65%
- 6M
- 1.92%
- 1Y
- 4.01%
- 3Y*
- 4.72%
- 5Y*
- 3.65%
- 10Y*
- 2.37%
BTAL vs. TFLO - 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% |
TFLO iShares Treasury Floating Rate Bond ETF | 1.65% | 4.22% | 5.34% | 5.12% | 1.99% | -0.02% | 0.43% | 2.04% | 1.76% | 1.01% |
Correlation
The correlation between BTAL and TFLO is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2014 | 0.01 |
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Return for Risk
BTAL vs. TFLO — Risk / Return Rank
BTAL
TFLO
BTAL vs. TFLO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AGFiQ US Market Neutral Anti-Beta Fund (BTAL) and iShares Treasury Floating Rate Bond ETF (TFLO). 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 | TFLO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -15.82 | ||
| Sortino ratioReturn per unit of downside risk | -53.90 | ||
| Omega ratioGain probability vs. loss probability | 0.74 | 14.07 | -13.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.95 | 203.31 | -204.26 |
| Martin ratioReturn relative to average drawdown | -1.62 | 831.80 | -833.42 |
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 | TFLO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.61 | 14.21 | -15.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.24 | 10.35 | -10.59 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.28 | 5.23 | -5.50 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.24 | 0.99 | -1.22 |
Drawdowns
BTAL vs. TFLO - Drawdown Comparison
The maximum BTAL drawdown since its inception was -50.28%, which is greater than TFLO's maximum drawdown of -5.01%. Use the drawdown chart below to compare losses from any high point for BTAL and TFLO.
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Drawdown Indicators
| BTAL | TFLO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.28% | -5.01% | -45.27% |
Max Drawdown (1Y)Largest decline over 1 year | -37.50% | -0.02% | -37.48% |
Max Drawdown (3Y)Largest decline over 3 years | -45.16% | -0.04% | -45.12% |
Max Drawdown (5Y)Largest decline over 5 years | -45.16% | -0.13% | -45.03% |
Max Drawdown (10Y)Largest decline over 10 years | -50.28% | -0.16% | -50.12% |
Current DrawdownCurrent decline from peak | -49.32% | 0.00% | -49.32% |
Average DrawdownAverage peak-to-trough decline | -21.98% | -0.10% | -21.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.90% | 0.00% | +21.90% |
Volatility
BTAL vs. TFLO - Volatility Comparison
AGFiQ US Market Neutral Anti-Beta Fund (BTAL) has a higher volatility of 7.68% compared to iShares Treasury Floating Rate Bond ETF (TFLO) at 0.07%. This indicates that BTAL's price experiences larger fluctuations and is considered to be riskier than TFLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTAL | TFLO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.68% | 0.07% | +7.61% |
Volatility (6M)Calculated over the trailing 6-month period | 15.98% | 0.20% | +15.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.07% | 0.28% | +21.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.86% | 0.35% | +18.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.29% | 0.46% | +16.83% |
BTAL vs. TFLO - Expense Ratio Comparison
BTAL has a 2.11% expense ratio, which is higher than TFLO's 0.15% expense ratio.
Dividends
BTAL vs. TFLO - Dividend Comparison
BTAL's dividend yield for the trailing twelve months is around 3.06%, less than TFLO's 3.90% 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% |
TFLO iShares Treasury Floating Rate Bond ETF | 3.90% | 4.16% | 5.21% | 4.88% | 1.68% | 0.00% | 0.36% | 2.08% | 1.65% | 0.86% | 0.31% | 0.15% |
Frequently Asked Questions
BTAL and TFLO have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTAL has higher volatility (7.68%) compared to TFLO (0.07%). In terms of maximum drawdown, BTAL dropped -50.28% vs TFLO's -5.01%.
On 10-year performance, TFLO leads with 2.37% vs -4.76% for BTAL. On fees, TFLO is cheaper at 0.15% per year. On volatility, TFLO has been the lower-risk option at 0.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TFLO has performed better with a 2.37% return vs -4.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TFLO is cheaper with a 0.15% expense ratio, compared with 2.11% for BTAL.
TFLO has the higher dividend yield at 3.90%, compared with 3.06% for BTAL.
BTAL is categorized as Long-Short, while TFLO is Government Bonds. BTAL tracks Dow Jones U.S. Thematic Market Neutral Anti-Beta Total Return Index, while TFLO tracks Bloomberg U.S. Treasury Floating Rate Index. They also come from different issuers: AGF and iShares. Their fees differ too: 2.11% for BTAL and 0.15% for TFLO.
TFLO currently has the higher Sharpe Ratio (14.21 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.
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