BTAL vs. TQQQ
BTAL (AGFiQ US Market Neutral Anti-Beta Fund) and TQQQ (ProShares UltraPro QQQ) 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 TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%). Both are passively managed. Over the past 10 years, BTAL returned -5.05%/yr vs 44.55%/yr for TQQQ. At a correlation of -0.48, they often move in opposite directions. BTAL charges 2.11%/yr vs 0.95%/yr for TQQQ.
Performance
BTAL vs. TQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, BTAL achieves a -20.15% return, which is significantly lower than TQQQ's 47.28% return. Over the past 10 years, BTAL has underperformed TQQQ with an annualized return of -5.05%, while TQQQ has yielded a comparatively higher 44.55% annualized return.
BTAL
- 1D
- -0.09%
- 1M
- -5.59%
- YTD
- -20.15%
- 6M
- -19.27%
- 1Y
- -37.44%
- 3Y*
- -12.17%
- 5Y*
- -4.94%
- 10Y*
- -5.05%
TQQQ
- 1D
- 1.99%
- 1M
- 2.89%
- YTD
- 47.28%
- 6M
- 47.23%
- 1Y
- 114.36%
- 3Y*
- 59.79%
- 5Y*
- 24.34%
- 10Y*
- 44.55%
BTAL vs. TQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BTAL AGFiQ US Market Neutral Anti-Beta Fund | -20.15% | -20.17% | 12.83% | -15.11% | 20.48% | -6.81% | -13.86% | 1.07% | 15.13% | -2.13% |
TQQQ ProShares UltraPro QQQ | 47.28% | 34.35% | 58.27% | 198.04% | -79.09% | 82.98% | 110.05% | 133.84% | -19.79% | 118.06% |
Correlation
The correlation between BTAL and TQQQ is -0.75, 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 | -0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.51 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2011 | -0.48 |
Over the past year, the inverse relationship between BTAL and TQQQ has strengthened: their correlation has moved from -0.48 to -0.75, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
BTAL vs. TQQQ — Risk / Return Rank
BTAL
TQQQ
BTAL vs. TQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AGFiQ US Market Neutral Anti-Beta Fund (BTAL) and ProShares UltraPro QQQ (TQQQ). 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 | TQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.72 | ||
| Sortino ratioReturn per unit of downside risk | -4.98 | ||
| Omega ratioGain probability vs. loss probability | 0.73 | 1.32 | -0.59 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | 2.89 | -3.87 |
| Martin ratioReturn relative to average drawdown | -1.64 | 9.26 | -10.90 |
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Drawdowns
BTAL vs. TQQQ - Drawdown Comparison
The maximum BTAL drawdown since its inception was -50.28%, smaller than the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for BTAL and TQQQ.
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Drawdown Indicators
| BTAL | TQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.28% | -81.66% | +31.38% |
Max Drawdown (1Y)Largest decline over 1 year | -37.50% | -36.97% | -0.53% |
Max Drawdown (3Y)Largest decline over 3 years | -45.16% | -58.04% | +12.88% |
Max Drawdown (5Y)Largest decline over 5 years | -45.16% | -81.66% | +36.50% |
Max Drawdown (10Y)Largest decline over 10 years | -50.28% | -81.66% | +31.38% |
Current DrawdownCurrent decline from peak | -50.23% | -11.12% | -39.11% |
Average DrawdownAverage peak-to-trough decline | -22.01% | -18.51% | -3.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.38% | 11.52% | +10.86% |
Volatility
BTAL vs. TQQQ - Volatility Comparison
The current volatility for AGFiQ US Market Neutral Anti-Beta Fund (BTAL) is 8.74%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 22.79%. This indicates that BTAL experiences smaller price fluctuations and is considered to be less risky than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTAL | TQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.74% | 22.79% | -14.05% |
Volatility (6M)Calculated over the trailing 6-month period | 16.58% | 41.26% | -24.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.49% | 51.24% | -28.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.96% | 67.02% | -48.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.33% | 66.22% | -48.89% |
BTAL vs. TQQQ - Expense Ratio Comparison
BTAL has a 2.11% expense ratio, which is higher than TQQQ's 0.95% expense ratio.
Dividends
BTAL vs. TQQQ - Dividend Comparison
BTAL's dividend yield for the trailing twelve months is around 3.11%, more than TQQQ's 0.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BTAL AGFiQ US Market Neutral Anti-Beta Fund | 3.11% | 2.49% | 3.49% | 6.14% | 1.01% | 0.00% | 0.00% | 0.88% | 0.39% | 0.00% | 0.00% | 0.00% |
TQQQ ProShares UltraPro QQQ | 0.41% | 0.65% | 1.27% | 1.26% | 0.57% | 0.00% | 0.00% | 0.06% | 0.11% | 0.00% | 0.00% | 0.01% |
Frequently Asked Questions
BTAL and TQQQ have a correlation of -0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TQQQ has higher volatility (22.79%) compared to BTAL (8.74%). In terms of maximum drawdown, BTAL dropped -50.28% vs TQQQ's -81.66%.
On 10-year performance, TQQQ leads with 44.55% vs -5.05% for BTAL. On fees, TQQQ is cheaper at 0.95% per year. On volatility, BTAL has been the lower-risk option at 8.74%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TQQQ has performed better with a 44.55% return vs -5.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TQQQ is cheaper with a 0.95% expense ratio, compared with 2.11% for BTAL.
BTAL has the higher dividend yield at 3.11%, compared with 0.41% for TQQQ.
BTAL is categorized as Long-Short, while TQQQ is Leveraged Equities. BTAL tracks Dow Jones U.S. Thematic Market Neutral Anti-Beta Total Return Index, while TQQQ tracks NASDAQ-100 Index (300%). They also come from different issuers: AGF and ProShares. Their fees differ too: 2.11% for BTAL and 0.95% for TQQQ.
TQQQ currently has the higher Sharpe Ratio (2.09 vs -1.64), 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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