BTAL vs. TOLZ
BTAL (AGF U.S. Market Neutral Anti-Beta Fund) and TOLZ (ProShares DJ Brookfield Global Infrastructure ETF) are both exchange-traded funds - BTAL is a Equity Market Neutral fund actively managed by AGF, while TOLZ is a Industrials Equities fund tracking the Dow Jones Brookfield Global Infrastructure Composite Index. BTAL is actively managed, while TOLZ is passively managed. Over the past 10 years, BTAL returned -5.50%/yr vs 7.93%/yr for TOLZ. At a correlation of -0.26, they often move in opposite directions. BTAL charges 1.40%/yr vs 0.46%/yr for TOLZ.
Performance
BTAL vs. TOLZ - Performance Comparison
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Returns By Period
In the year-to-date period, BTAL achieves a -21.75% return, which is significantly lower than TOLZ's 12.09% return. Over the past 10 years, BTAL has underperformed TOLZ with an annualized return of -5.50%, while TOLZ has yielded a comparatively higher 7.93% annualized return.
BTAL
- 1D
- 3.11%
- 1M
- -7.70%
- YTD
- -21.75%
- 6M
- -20.50%
- 1Y
- -36.96%
- 3Y*
- -13.01%
- 5Y*
- -5.21%
- 10Y*
- -5.50%
TOLZ
- 1D
- 0.88%
- 1M
- -2.33%
- YTD
- 12.09%
- 6M
- 12.14%
- 1Y
- 16.35%
- 3Y*
- 15.12%
- 5Y*
- 8.72%
- 10Y*
- 7.93%
BTAL vs. TOLZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BTAL AGF U.S. Market Neutral Anti-Beta Fund | -21.75% | -20.17% | 12.83% | -15.11% | 20.48% | -6.81% | -13.86% | 1.07% | 15.13% | -2.13% |
TOLZ ProShares DJ Brookfield Global Infrastructure ETF | 12.09% | 14.76% | 11.67% | 6.18% | -4.25% | 20.47% | -9.46% | 26.84% | -7.90% | 13.28% |
Correlation
The correlation between BTAL and TOLZ is 0.07, 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 | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.26 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2014 | -0.26 |
The correlation between BTAL and TOLZ shifts across timeframes, from -0.26 (all time) to 0.07 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BTAL vs. TOLZ — Risk / Return Rank
BTAL
TOLZ
BTAL vs. TOLZ - 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 ProShares DJ Brookfield Global Infrastructure ETF (TOLZ). 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 | TOLZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.20 | ||
| Sortino ratioReturn per unit of downside risk | -4.82 | ||
| Omega ratioGain probability vs. loss probability | 0.74 | 1.27 | -0.54 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | 3.17 | -4.15 |
| Martin ratioReturn relative to average drawdown | -1.85 | 9.16 | -11.01 |
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Drawdowns
BTAL vs. TOLZ - Drawdown Comparison
The maximum BTAL drawdown since its inception was -52.70%, which is greater than TOLZ's maximum drawdown of -39.33%. Use the drawdown chart below to compare losses from any high point for BTAL and TOLZ.
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Drawdown Indicators
| BTAL | TOLZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.70% | -39.33% | -13.37% |
Max Drawdown (1Y)Largest decline over 1 year | -37.81% | -5.18% | -32.63% |
Max Drawdown (3Y)Largest decline over 3 years | -47.83% | -11.94% | -35.89% |
Max Drawdown (5Y)Largest decline over 5 years | -47.83% | -21.85% | -25.98% |
Max Drawdown (10Y)Largest decline over 10 years | -52.70% | -39.33% | -13.37% |
Current DrawdownCurrent decline from peak | -51.23% | -2.45% | -48.78% |
Average DrawdownAverage peak-to-trough decline | -22.05% | -6.61% | -15.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.21% | 1.79% | +19.42% |
Volatility
BTAL vs. TOLZ - Volatility Comparison
AGF U.S. Market Neutral Anti-Beta Fund (BTAL) has a higher volatility of 9.28% compared to ProShares DJ Brookfield Global Infrastructure ETF (TOLZ) at 3.24%. This indicates that BTAL's price experiences larger fluctuations and is considered to be riskier than TOLZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTAL | TOLZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.28% | 3.24% | +6.04% |
Volatility (6M)Calculated over the trailing 6-month period | 16.73% | 8.30% | +8.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.83% | 10.41% | +12.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.10% | 13.98% | +5.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.36% | 16.23% | +1.13% |
BTAL vs. TOLZ - Expense Ratio Comparison
BTAL has a 1.40% expense ratio, which is higher than TOLZ's 0.46% expense ratio.
Dividends
BTAL vs. TOLZ - Dividend Comparison
BTAL's dividend yield for the trailing twelve months is around 3.18%, less than TOLZ's 3.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BTAL AGF U.S. Market Neutral Anti-Beta Fund | 3.18% | 2.49% | 3.49% | 6.14% | 1.01% | 0.00% | 0.00% | 0.88% | 0.39% | 0.00% | 0.00% | 0.00% |
TOLZ ProShares DJ Brookfield Global Infrastructure ETF | 3.63% | 3.99% | 3.53% | 3.34% | 3.01% | 3.28% | 3.16% | 2.96% | 3.63% | 3.30% | 2.62% | 3.67% |
Frequently Asked Questions
BTAL and TOLZ have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTAL has higher volatility (9.28%) compared to TOLZ (3.24%). In terms of maximum drawdown, BTAL dropped -52.70% vs TOLZ's -39.33%.
On 10-year performance, TOLZ leads with 7.93% vs -5.50% for BTAL. On fees, TOLZ is cheaper at 0.46% per year. On volatility, TOLZ has been the lower-risk option at 3.24%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TOLZ has performed better with a 7.93% return vs -5.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TOLZ is cheaper with a 0.46% expense ratio, compared with 1.40% for BTAL.
TOLZ has the higher dividend yield at 3.63%, compared with 3.18% for BTAL.
BTAL is categorized as Equity Market Neutral, while TOLZ is Industrials Equities. They also come from different issuers: AGF and ProShares. Their fees differ too: 1.40% for BTAL and 0.46% for TOLZ.
TOLZ currently has the higher Sharpe Ratio (1.58 vs -1.62), 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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