EVNT vs. BTAL

Last updated Jun 6, 2026

EVNT (AltShares Event-Driven ETF) and BTAL (AGFiQ US Market Neutral Anti-Beta Fund) are both exchange-traded funds - EVNT is a Event Driven fund actively managed by AltShares, while BTAL is a Long-Short fund tracking the Dow Jones U.S. Thematic Market Neutral Anti-Beta Total Return Index. EVNT is actively managed, while BTAL is passively managed. Over the past 3 years, EVNT returned 9.96%/yr vs -11.25%/yr for BTAL. At a correlation of -0.54, they often move in opposite directions. EVNT charges 1.30%/yr vs 2.11%/yr for BTAL.

Performance

EVNT vs. BTAL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AltShares Event-Driven ETF (EVNT) and AGFiQ US Market Neutral Anti-Beta Fund (BTAL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EVNT achieves a 3.29% return, which is significantly higher than BTAL's -16.82% return.

EVNT

• 1D: 0.04%
• 1M: -0.22%
• YTD: 3.29%
• 6M: 3.36%
• 1Y: 11.44%
• 3Y*: 9.96%
• 5Y*: —
• 10Y*: —

BTAL

• 1D: 4.00%
• 1M: 1.10%
• YTD: -16.82%
• 6M: -15.72%
• 1Y: -34.83%
• 3Y*: -11.25%
• 5Y*: -3.89%
• 10Y*: -4.23%

*Multi-year figures are annualized to reflect compound growth (CAGR)

EVNT vs. BTAL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
EVNT AltShares Event-Driven ETF	3.29%	13.72%	5.13%	13.28%	-8.62%	-3.22%
BTAL AGFiQ US Market Neutral Anti-Beta Fund	-16.82%	-20.17%	12.83%	-15.11%	20.48%	3.43%

Correlation

The correlation between EVNT and BTAL is -0.42, 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	-0.42
Correlation (3Y) Calculated over the trailing 3-year period	-0.49
Correlation (All Time) Calculated using the full available price history since Sep 21, 2021	-0.54

The correlation between EVNT and BTAL shifts across timeframes, from -0.54 (all time) to -0.42 (1 year), reflecting how their relationship changes across market environments.

EVNT vs. BTAL - Sectors Allocation Comparison

Sectors	EVNT	BTAL
Technology	29.2%	19.5%
Financial Services	18.3%	14.9%
Healthcare	14.8%	10.2%
Industrials	11.8%	13.7%
Utilities	4.0%	5.2%
Basic Materials	4.0%	4.0%
Energy	3.1%	4.4%
Real Estate	2.8%	6.2%
Communication Services	2.7%	3.4%
Consumer Defensive	2.1%	5.6%
Consumer Cyclical	1.0%	12.8%

Return for Risk

EVNT vs. BTAL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EVNT

EVNT Risk / Return Rank: 56
EVNT Sharpe Ratio Rank: 45
EVNT Sortino Ratio Rank: 48
EVNT Omega Ratio Rank: 54
EVNT Calmar Ratio Rank: 72
EVNT Martin Ratio Rank: 64

BTAL

BTAL Risk / Return Rank: 0
BTAL Sharpe Ratio Rank: 0
BTAL Sortino Ratio Rank: 0
BTAL Omega Ratio Rank: 0
BTAL Calmar Ratio Rank: 1
BTAL Martin Ratio Rank: 1

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EVNT vs. BTAL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AltShares Event-Driven ETF (EVNT) 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.

	EVNT	BTAL	Difference
Sharpe ratio: Return per unit of total volatility	1.50	-1.59	+3.09
Sortino ratio: Return per unit of downside risk	2.25	-2.48	+4.73
Omega ratio: Gain probability vs. loss probability	1.32	0.75	+0.57
Calmar ratio: Return relative to maximum drawdown	3.43	-0.93	+4.36
Martin ratio: Return relative to average drawdown	10.96	-1.60	+12.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EVNT vs. BTAL - Sharpe Ratio Comparison

The current EVNT Sharpe Ratio is 1.50, which is higher than the BTAL Sharpe Ratio of -1.59. The chart below compares the historical Sharpe Ratios of EVNT and BTAL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EVNT	BTAL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.50	-1.59	+3.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.21	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.25	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	-0.23	+0.73

Drawdowns

EVNT vs. BTAL - Drawdown Comparison

The maximum EVNT drawdown since its inception was -13.85%, smaller than the maximum BTAL drawdown of -50.28%. Use the drawdown chart below to compare losses from any high point for EVNT and BTAL.

Drawdown Indicators

	EVNT	BTAL	Difference
Max Drawdown Largest peak-to-trough decline	-13.85%	-50.28%	+36.43%
Max Drawdown (1Y) Largest decline over 1 year	-3.35%	-37.50%	+34.15%
Max Drawdown (3Y) Largest decline over 3 years	-5.15%	-45.16%	+40.01%
Max Drawdown (5Y) Largest decline over 5 years	—	-45.16%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-50.28%	—
Current Drawdown Current decline from peak	-0.63%	-48.15%	+47.52%
Average Drawdown Average peak-to-trough decline	-3.79%	-21.97%	+18.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.05%	21.78%	-20.73%

Volatility

EVNT vs. BTAL - Volatility Comparison

The current volatility for AltShares Event-Driven ETF (EVNT) is 1.15%, while AGFiQ US Market Neutral Anti-Beta Fund (BTAL) has a volatility of 7.98%. This indicates that EVNT 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.

Volatility by Period

	EVNT	BTAL	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.15%	7.98%	-6.83%
Volatility (6M) Calculated over the trailing 6-month period	3.66%	15.83%	-12.17%
Volatility (1Y) Calculated over the trailing 1-year period	7.64%	21.98%	-14.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.25%	18.83%	-9.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.25%	17.27%	-8.02%

EVNT vs. BTAL - Expense Ratio Comparison

EVNT has a 1.30% expense ratio, which is lower than BTAL's 2.11% expense ratio.

Dividends

EVNT vs. BTAL - Dividend Comparison

EVNT's dividend yield for the trailing twelve months is around 4.63%, more than BTAL's 2.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BTAL AGFiQ US Market Neutral Anti-Beta Fund	2.99%	2.49%	3.49%	6.14%	1.01%	0.00%	0.00%	0.88%	0.39%
EVNT AltShares Event-Driven ETF	4.63%	4.78%	0.66%	0.59%	2.61%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EVNT and BTAL in my portfolio?

EVNT and BTAL have a correlation of -0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EVNT or BTAL?

BTAL has higher volatility (7.98%) compared to EVNT (1.15%). In terms of maximum drawdown, EVNT dropped -13.85% vs BTAL's -50.28%.

Which ETF is better, EVNT or BTAL?

On 3-year performance, EVNT leads with 9.96% vs -11.25% for BTAL. On fees, EVNT is cheaper at 1.30% per year. On volatility, EVNT has been the lower-risk option at 1.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EVNT or BTAL?

Over the 3-year period, EVNT has performed better with a 9.96% return vs -11.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EVNT or BTAL?

EVNT is cheaper with a 1.30% expense ratio, compared with 2.11% for BTAL.

Which ETF pays a higher dividend yield, EVNT or BTAL?

EVNT has the higher dividend yield at 4.63%, compared with 2.99% for BTAL.

What is the main difference between EVNT and BTAL?

EVNT is categorized as Event Driven, while BTAL is Long-Short. They also come from different issuers: AltShares and AGF. Their fees differ too: 1.30% for EVNT and 2.11% for BTAL.

Which has better risk-adjusted returns?

EVNT currently has the higher Sharpe Ratio (1.50 vs -1.59), 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.