DTLA.L vs. BTAL
DTLA.L (iShares USD Treasury Bond 20+yr UCITS ETF USD (Acc)) and BTAL (AGFiQ US Market Neutral Anti-Beta Fund) are both exchange-traded funds - DTLA.L is a Government Bonds fund tracking the ICE US Treasury 20+ Year Index, while BTAL is a Long-Short fund tracking the Dow Jones U.S. Thematic Market Neutral Anti-Beta Total Return Index. Both are passively managed. Over the past 5 years, DTLA.L returned -6.37%/yr vs -4.94%/yr for BTAL. At a 0.09 correlation, their price movements are largely independent. DTLA.L charges 0.07%/yr vs 2.11%/yr for BTAL.
Performance
DTLA.L vs. BTAL - Performance Comparison
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Returns By Period
In the year-to-date period, DTLA.L achieves a -0.86% return, which is significantly higher than BTAL's -20.15% return.
DTLA.L
- 1D
- 0.44%
- 1M
- 1.10%
- YTD
- -0.86%
- 6M
- 0.88%
- 1Y
- 4.30%
- 3Y*
- -1.20%
- 5Y*
- -6.37%
- 10Y*
- —
BTAL
- 1D
- -0.09%
- 1M
- -4.17%
- YTD
- -20.15%
- 6M
- -19.27%
- 1Y
- -37.44%
- 3Y*
- -12.17%
- 5Y*
- -4.94%
- 10Y*
- -5.05%
DTLA.L vs. BTAL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
DTLA.L iShares USD Treasury Bond 20+yr UCITS ETF USD (Acc) | -0.86% | 4.49% | -6.90% | 1.69% | -30.29% | -4.46% | 17.00% | 15.69% | 3.65% |
BTAL AGFiQ US Market Neutral Anti-Beta Fund | -20.15% | -20.17% | 12.83% | -15.11% | 20.48% | -6.81% | -13.86% | 1.07% | 15.30% |
Correlation
The correlation between DTLA.L and BTAL is -0.00, 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 | -0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since May 10, 2018 | 0.09 |
The correlation between DTLA.L and BTAL shifts across timeframes, from -0.06 (3 years) to 0.09 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DTLA.L vs. BTAL — Risk / Return Rank
DTLA.L
BTAL
DTLA.L vs. BTAL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Treasury Bond 20+yr UCITS ETF USD (Acc) (DTLA.L) and AGFiQ US 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.
| DTLA.L | BTAL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.97 | ||
| Sortino ratioReturn per unit of downside risk | +3.11 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 0.73 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 0.45 | -0.98 | +1.43 |
| Martin ratioReturn relative to average drawdown | 1.12 | -1.64 | +2.76 |
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Drawdowns
DTLA.L vs. BTAL - Drawdown Comparison
The maximum DTLA.L drawdown since its inception was -48.41%, roughly equal to the maximum BTAL drawdown of -50.28%. Use the drawdown chart below to compare losses from any high point for DTLA.L and BTAL.
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Drawdown Indicators
| DTLA.L | BTAL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.41% | -50.28% | +1.87% |
Max Drawdown (1Y)Largest decline over 1 year | -7.50% | -37.50% | +30.00% |
Max Drawdown (3Y)Largest decline over 3 years | -18.57% | -45.16% | +26.59% |
Max Drawdown (5Y)Largest decline over 5 years | -42.80% | -45.16% | +2.36% |
Max Drawdown (10Y)Largest decline over 10 years | — | -50.28% | — |
Current DrawdownCurrent decline from peak | -40.40% | -50.23% | +9.83% |
Average DrawdownAverage peak-to-trough decline | -24.06% | -22.01% | -2.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 22.38% | -19.38% |
Volatility
DTLA.L vs. BTAL - Volatility Comparison
The current volatility for iShares USD Treasury Bond 20+yr UCITS ETF USD (Acc) (DTLA.L) is 3.33%, while AGFiQ US Market Neutral Anti-Beta Fund (BTAL) has a volatility of 8.74%. This indicates that DTLA.L 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
| DTLA.L | BTAL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.33% | 8.74% | -5.41% |
Volatility (6M)Calculated over the trailing 6-month period | 6.74% | 16.58% | -9.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.03% | 22.49% | -12.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.95% | 18.96% | -4.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.79% | 17.33% | -2.54% |
DTLA.L vs. BTAL - Expense Ratio Comparison
DTLA.L has a 0.07% expense ratio, which is lower than BTAL's 2.11% expense ratio.
Dividends
DTLA.L vs. BTAL - Dividend Comparison
DTLA.L has not paid dividends to shareholders, while BTAL's dividend yield for the trailing twelve months is around 3.11%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
DTLA.L iShares USD Treasury Bond 20+yr UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DTLA.L and BTAL have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DTLA.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DTLA.L is cheaper with a 0.07% expense ratio, compared with 2.11% for BTAL.
DTLA.L is categorized as Government Bonds, while BTAL is Long-Short. DTLA.L tracks ICE US Treasury 20+ Year Index, while BTAL tracks Dow Jones U.S. Thematic Market Neutral Anti-Beta Total Return Index. They also come from different issuers: iShares and AGF. Their fees differ too: 0.07% for DTLA.L and 2.11% for BTAL.
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