CLIX vs. BTAL
CLIX (ProShares Long Online/Short Stores ETF) and BTAL (AGF U.S. Market Neutral Anti-Beta Fund) are both exchange-traded funds - CLIX is a Long-Short fund tracking the ProShares Long Online/Short Stores Index, while BTAL is a Equity Market Neutral fund actively managed by AGF. CLIX is passively managed, while BTAL is actively managed. Over the past 5 years, CLIX returned -6.23%/yr vs -4.64%/yr for BTAL. At a correlation of -0.42, they often move in opposite directions. CLIX charges 0.65%/yr vs 1.40%/yr for BTAL.
Performance
CLIX vs. BTAL - Performance Comparison
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Returns By Period
In the year-to-date period, CLIX achieves a -3.48% return, which is significantly higher than BTAL's -17.58% return.
CLIX
- 1D
- -0.40%
- 1M
- 7.04%
- 6M
- -7.16%
- YTD
- -3.48%
- 1Y
- 12.38%
- 3Y*
- 16.62%
- 5Y*
- -6.23%
- 10Y*
- —
BTAL
- 1D
- 1.98%
- 1M
- 3.22%
- 6M
- -14.80%
- YTD
- -17.58%
- 1Y
- -28.86%
- 3Y*
- -9.69%
- 5Y*
- -4.64%
- 10Y*
- -4.85%
CLIX vs. BTAL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CLIX ProShares Long Online/Short Stores ETF | -3.48% | 32.81% | 20.73% | 28.97% | -46.73% | -39.96% | 90.91% | 17.32% | 6.34% | -2.43% |
BTAL AGF U.S. Market Neutral Anti-Beta Fund | -17.58% | -20.17% | 12.83% | -15.11% | 20.48% | -6.81% | -13.86% | 1.07% | 15.13% | -2.68% |
Correlation
The correlation between CLIX and BTAL is -0.41, 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 | -0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.62 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2017 | -0.42 |
The correlation between CLIX and BTAL shifts across timeframes, from -0.62 (5 years) to -0.41 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
CLIX vs. BTAL — Risk / Return Rank
CLIX
BTAL
CLIX vs. BTAL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Long Online/Short Stores ETF (CLIX) and AGF U.S. Market Neutral Anti-Beta Fund (BTAL). 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.
| CLIX | BTAL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.82 | ||
| Sortino ratioReturn per unit of downside risk | +2.76 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 0.81 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 0.64 | -0.84 | +1.47 |
| Martin ratioReturn relative to average drawdown | 1.56 | -1.61 | +3.17 |
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Drawdowns
CLIX vs. BTAL - Drawdown Comparison
The maximum CLIX drawdown since its inception was -73.21%, which is greater than BTAL's maximum drawdown of -52.70%. Use the drawdown chart below to compare losses from any high point for CLIX and BTAL.
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Drawdown Indicators
| CLIX | BTAL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.21% | -52.70% | -20.51% |
Max Drawdown (1Y)Largest decline over 1 year | -19.57% | -34.61% | +15.04% |
Max Drawdown (3Y)Largest decline over 3 years | -21.18% | -47.83% | +26.65% |
Max Drawdown (5Y)Largest decline over 5 years | -66.03% | -47.83% | -18.20% |
Max Drawdown (10Y)Largest decline over 10 years | — | -52.70% | — |
Current DrawdownCurrent decline from peak | -42.98% | -48.63% | +5.65% |
Average DrawdownAverage peak-to-trough decline | -34.81% | -22.15% | -12.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.94% | 18.00% | -10.06% |
Volatility
CLIX vs. BTAL - Volatility Comparison
The current volatility for ProShares Long Online/Short Stores ETF (CLIX) is 6.10%, while AGF U.S. Market Neutral Anti-Beta Fund (BTAL) has a volatility of 8.77%. This indicates that CLIX experiences smaller price fluctuations and is considered to be less risky than BTAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CLIX | BTAL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.10% | 8.77% | -2.67% |
Volatility (6M)Calculated over the trailing 6-month period | 16.70% | 17.19% | -0.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.72% | 23.28% | -1.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.85% | 19.23% | +7.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.88% | 17.36% | +8.52% |
CLIX vs. BTAL - Expense Ratio Comparison
CLIX has a 0.65% expense ratio, which is lower than BTAL's 1.40% expense ratio.
Dividends
CLIX vs. BTAL - Dividend Comparison
CLIX's dividend yield for the trailing twelve months is around 0.54%, less than BTAL's 3.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BTAL AGF U.S. Market Neutral Anti-Beta Fund | 3.02% | 2.49% | 3.49% | 6.14% | 1.01% | 0.00% | 0.00% | 0.88% | 0.39% |
CLIX ProShares Long Online/Short Stores ETF | 0.54% | 0.46% | 0.46% | 0.00% | 0.00% | 0.00% | 1.33% | 0.00% | 0.00% |
Frequently Asked Questions
CLIX and BTAL have a correlation of -0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTAL has higher volatility (8.77%) compared to CLIX (6.10%). In terms of maximum drawdown, CLIX dropped -73.21% vs BTAL's -52.70%.
On 5-year performance, BTAL leads with -4.64% vs -6.23% for CLIX. On fees, CLIX is cheaper at 0.65% per year. On volatility, CLIX has been the lower-risk option at 6.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BTAL has performed better with a -4.64% return vs -6.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CLIX is cheaper with a 0.65% expense ratio, compared with 1.40% for BTAL.
BTAL has the higher dividend yield at 3.02%, compared with 0.54% for CLIX.
CLIX is categorized as Long-Short, while BTAL is Equity Market Neutral. They also come from different issuers: ProShares and AGF. Their fees differ too: 0.65% for CLIX and 1.40% for BTAL.
CLIX currently has the higher Sharpe Ratio (0.57 vs -1.25), 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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