DWSH vs. BTAL
DWSH (AdvisorShares Dorsey Wright Short ETF) and BTAL (AGF U.S. Market Neutral Anti-Beta Fund) are both exchange-traded funds - DWSH is a Inverse Equities fund actively managed by AdvisorShares, while BTAL is a Equity Market Neutral fund actively managed by AGF. Both are actively managed. Over the past 5 years, DWSH returned -3.78%/yr vs -4.14%/yr for BTAL. Their 0.59 correlation means they have sometimes moved together and sometimes differently. DWSH charges 3.67%/yr vs 1.40%/yr for BTAL.
Performance
DWSH vs. BTAL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, DWSH achieves a -9.98% return, which is significantly higher than BTAL's -14.87% return.
DWSH
- 1D
- 0.31%
- 1M
- -3.70%
- 6M
- -6.79%
- YTD
- -9.98%
- 1Y
- -15.29%
- 3Y*
- -3.09%
- 5Y*
- -3.78%
- 10Y*
- —
- ALL TIME*
- -14.27%
BTAL
- 1D
- -0.33%
- 1M
- 5.79%
- 6M
- -13.85%
- YTD
- -14.87%
- 1Y
- -25.47%
- 3Y*
- -8.33%
- 5Y*
- -4.14%
- 10Y*
- -4.41%
- ALL TIME*
- -3.78%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $10.19M | $8.38M | $8.16M | |
| $237.00K | $562.23K | $413.74K |
DWSH vs. BTAL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
DWSH AdvisorShares Dorsey Wright Short ETF | -9.98% | -2.57% | 5.98% | -22.04% | 17.45% | -25.74% | -49.95% | -25.27% | 22.37% |
BTAL AGF U.S. Market Neutral Anti-Beta Fund | -14.87% | -20.17% | 12.83% | -15.11% | 20.48% | -6.81% | -13.86% | 1.07% | 11.65% |
Correlation
The correlation between DWSH and BTAL is 0.10, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.10 |
Correlation (3Y) Balances recent behavior with more history. | 0.37 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.53 |
Correlation (All Time) Calculated using the full available price history since Jul 11, 2018 | 0.59 |
Over the past year, the correlation between DWSH and BTAL has dropped to 0.10 - well below their long-term average of 0.59, suggesting their price drivers have been diverging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
DWSH vs. BTAL — Risk / Return Rank
DWSH
BTAL
DWSH vs. BTAL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AdvisorShares Dorsey Wright Short ETF (DWSH) 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.
| DWSH | BTAL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.40 | ||
| Sortino ratioReturn per unit of downside risk | +0.69 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 0.85 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.68 | -0.69 | +0.01 |
| Martin ratioReturn relative to average drawdown | -1.49 | -1.25 | -0.24 |
Loading charts...
Drawdowns
DWSH vs. BTAL - Drawdown Comparison
The maximum DWSH drawdown since its inception was -83.80%, which is greater than BTAL's maximum drawdown of -52.70%. Use the drawdown chart below to compare losses from any high point for DWSH and BTAL.
Loading charts...
Drawdown Indicators
| DWSH | BTAL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.80% | -52.70% | -31.10% |
Max Drawdown (1Y)Largest decline over 1 year | -20.08% | -34.57% | +14.49% |
Max Drawdown (3Y)Largest decline over 3 years | -33.61% | -47.83% | +14.22% |
Max Drawdown (5Y)Largest decline over 5 years | -37.03% | -47.83% | +10.80% |
Max Drawdown (10Y)Largest decline over 10 years | — | -52.70% | — |
Current DrawdownCurrent decline from peak | -83.27% | -46.94% | -36.33% |
Average DrawdownAverage peak-to-trough decline | -63.94% | -22.25% | -41.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.16% | 19.09% | -9.93% |
Volatility
DWSH vs. BTAL - Volatility Comparison
AdvisorShares Dorsey Wright Short ETF (DWSH) has a higher volatility of 12.07% compared to AGF U.S. Market Neutral Anti-Beta Fund (BTAL) at 7.89%. This indicates that DWSH's price experiences larger fluctuations and is considered to be riskier than BTAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| DWSH | BTAL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.07% | 7.89% | +4.18% |
Volatility (6M)Calculated over the trailing 6-month period | 18.06% | 17.97% | +0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.80% | 23.85% | -1.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.56% | 19.39% | +7.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.27% | 17.47% | +13.80% |
DWSH vs. BTAL - Expense Ratio Comparison
DWSH has a 3.67% expense ratio, which is higher than BTAL's 1.40% expense ratio.
Dividends
DWSH vs. BTAL - Dividend Comparison
DWSH's dividend yield for the trailing twelve months is around 7.01%, more than BTAL's 2.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BTAL AGF U.S. Market Neutral Anti-Beta Fund | 2.92% | 2.49% | 3.49% | 6.14% | 1.01% | 0.00% | 0.00% | 0.88% | 0.39% |
DWSH AdvisorShares Dorsey Wright Short ETF | 7.01% | 6.31% | 6.17% | 10.28% | 0.00% | 0.00% | 0.00% | 0.14% | 0.12% |
Frequently Asked Questions
DWSH and BTAL have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DWSH has higher volatility (12.07%) compared to BTAL (7.89%). In terms of maximum drawdown, DWSH dropped -83.80% vs BTAL's -52.70%.
On 5-year performance, DWSH leads with -3.78% vs -4.14% for BTAL. On fees, BTAL is cheaper at 1.40% per year. On volatility, BTAL has been the lower-risk option at 7.89%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DWSH has performed better with a -3.78% return vs -4.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BTAL is cheaper with a 1.40% expense ratio, compared with 3.67% for DWSH.
DWSH has the higher dividend yield at 7.01%, compared with 2.92% for BTAL.
DWSH is categorized as Inverse Equities, while BTAL is Equity Market Neutral. They also come from different issuers: AdvisorShares and AGF. Their fees differ too: 3.67% for DWSH and 1.40% for BTAL.
DWSH currently has the higher Sharpe Ratio (-0.60 vs -1.00), 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.
Find the right allocation for DWSH and BTAL
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer