MKTN vs. BTAL
MKTN (Federated Hermes MDT Market Neutral ETF) and BTAL (AGF U.S. Market Neutral Anti-Beta Fund) are both Equity Market Neutral funds. Both are actively managed. Their 0.16 correlation means their historical movements had little consistent relationship. MKTN charges 1.94%/yr vs 1.40%/yr for BTAL.
Performance
MKTN vs. BTAL - Performance Comparison
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Returns By Period
In the year-to-date period, MKTN achieves a 5.83% return, which is significantly higher than BTAL's -16.19% return.
MKTN
- 1D
- -0.59%
- 1M
- 3.96%
- 6M
- 5.85%
- YTD
- 5.83%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
BTAL
- 1D
- -1.55%
- 1M
- 4.15%
- 6M
- -14.41%
- YTD
- -16.19%
- 1Y
- -26.63%
- 3Y*
- -9.91%
- 5Y*
- -4.51%
- 10Y*
- -4.34%
- ALL TIME*
- -3.88%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $11.44M | $8.83M | $8.21M | |
| $689.04K | $500.50K | $628.77K |
MKTN vs. BTAL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MKTN Federated Hermes MDT Market Neutral ETF | 5.83% | 3.22% |
BTAL AGF U.S. Market Neutral Anti-Beta Fund | -16.19% | -6.34% |
Correlation
The correlation between MKTN and BTAL is 0.16, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 25, 2025 | 0.16 |
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Return for Risk
MKTN vs. BTAL — Risk / Return Rank
MKTN
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BTAL
MKTN vs. BTAL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes MDT Market Neutral ETF (MKTN) 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.
| MKTN | BTAL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.83 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.77 | — |
| Martin ratioReturn relative to average drawdown | — | -1.39 | — |
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Drawdowns
MKTN vs. BTAL - Drawdown Comparison
The maximum MKTN drawdown since its inception was -4.13%, smaller than the maximum BTAL drawdown of -52.70%. Use the drawdown chart below to compare losses from any high point for MKTN and BTAL.
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Drawdown Indicators
| MKTN | BTAL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.13% | -52.70% | +48.57% |
Max Drawdown (1Y)Largest decline over 1 year | — | -34.57% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -47.83% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -47.83% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -52.70% | — |
Current DrawdownCurrent decline from peak | -0.59% | -47.76% | +47.17% |
Average DrawdownAverage peak-to-trough decline | -1.08% | -22.25% | +21.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 19.17% | — |
Volatility
MKTN vs. BTAL - Volatility Comparison
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Volatility by Period
| MKTN | BTAL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 7.90% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 17.92% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 6.67% | 23.82% | -17.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.67% | 19.41% | -12.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.67% | 17.48% | -10.81% |
MKTN vs. BTAL - Expense Ratio Comparison
MKTN has a 1.94% expense ratio, which is higher than BTAL's 1.40% expense ratio.
Dividends
MKTN vs. BTAL - Dividend Comparison
MKTN's dividend yield for the trailing twelve months is around 0.48%, less than BTAL's 2.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BTAL AGF U.S. Market Neutral Anti-Beta Fund | 2.97% | 2.49% | 3.49% | 6.14% | 1.01% | 0.00% | 0.00% | 0.88% | 0.39% |
MKTN Federated Hermes MDT Market Neutral ETF | 0.48% | 0.51% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MKTN and BTAL have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BTAL is cheaper at 1.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BTAL is cheaper with a 1.40% expense ratio, compared with 1.94% for MKTN.
BTAL has the higher dividend yield at 2.97%, compared with 0.48% for MKTN.
They also come from different issuers: Federated and AGF. Their fees differ too: 1.94% for MKTN and 1.40% for BTAL.
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