MPAIX vs. BTAL
MPAIX (Morgan Stanley Institutional Fund, Inc. Advantage Portfolio) and BTAL (AGFiQ US Market Neutral Anti-Beta Fund) are both funds - MPAIX is a Large Cap Growth Equities fund managed by T. Rowe Price, while BTAL is a Long-Short fund tracking the Dow Jones U.S. Thematic Market Neutral Anti-Beta Total Return Index. Over the past 10 years, MPAIX returned 12.22%/yr vs -4.73%/yr for BTAL. At a correlation of -0.47, they often move in opposite directions. MPAIX charges 0.85%/yr vs 2.11%/yr for BTAL.
Performance
MPAIX vs. BTAL - Performance Comparison
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Returns By Period
In the year-to-date period, MPAIX achieves a -2.26% return, which is significantly higher than BTAL's -19.67% return. Over the past 10 years, MPAIX has outperformed BTAL with an annualized return of 12.22%, while BTAL has yielded a comparatively lower -4.73% annualized return.
MPAIX
- 1D
- -2.33%
- 1M
- 3.99%
- YTD
- -2.26%
- 6M
- -4.73%
- 1Y
- 0.98%
- 3Y*
- 21.21%
- 5Y*
- 0.66%
- 10Y*
- 12.22%
BTAL
- 1D
- 0.70%
- 1M
- -6.55%
- YTD
- -19.67%
- 6M
- -18.88%
- 1Y
- -37.06%
- 3Y*
- -12.64%
- 5Y*
- -4.56%
- 10Y*
- -4.73%
MPAIX vs. BTAL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MPAIX Morgan Stanley Institutional Fund, Inc. Advantage Portfolio | -2.26% | 18.96% | 36.20% | 46.28% | -54.25% | -4.91% | 74.81% | 29.09% | 2.07% | 32.08% |
BTAL AGFiQ US Market Neutral Anti-Beta Fund | -19.67% | -20.17% | 12.83% | -15.11% | 20.48% | -6.81% | -13.86% | 1.07% | 15.13% | -2.13% |
Correlation
The correlation between MPAIX and BTAL is -0.54, 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 | -0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.70 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.51 |
Correlation (All Time) Calculated using the full available price history since Sep 14, 2011 | -0.47 |
The correlation between MPAIX and BTAL shifts across timeframes, from -0.70 (5 years) to -0.47 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MPAIX vs. BTAL — Risk / Return Rank
MPAIX
BTAL
MPAIX vs. BTAL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Institutional Fund, Inc. Advantage Portfolio (MPAIX) 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.
| MPAIX | BTAL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.79 | ||
| Sortino ratioReturn per unit of downside risk | +2.96 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 0.72 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 0.07 | -0.99 | +1.06 |
| Martin ratioReturn relative to average drawdown | 0.14 | -1.72 | +1.87 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MPAIX | BTAL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.07 | -1.72 | +1.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | -0.24 | +0.26 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | -0.28 | +0.69 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | -0.24 | +0.68 |
Drawdowns
MPAIX vs. BTAL - Drawdown Comparison
The maximum MPAIX drawdown since its inception was -64.09%, which is greater than BTAL's maximum drawdown of -50.28%. Use the drawdown chart below to compare losses from any high point for MPAIX and BTAL.
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Drawdown Indicators
| MPAIX | BTAL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.09% | -50.28% | -13.81% |
Max Drawdown (1Y)Largest decline over 1 year | -24.41% | -37.50% | +13.09% |
Max Drawdown (3Y)Largest decline over 3 years | -27.15% | -45.16% | +18.01% |
Max Drawdown (5Y)Largest decline over 5 years | -64.09% | -45.16% | -18.93% |
Max Drawdown (10Y)Largest decline over 10 years | -64.09% | -50.28% | -13.81% |
Current DrawdownCurrent decline from peak | -12.31% | -49.93% | +37.62% |
Average DrawdownAverage peak-to-trough decline | -13.53% | -21.95% | +8.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.64% | 21.54% | -9.90% |
Volatility
MPAIX vs. BTAL - Volatility Comparison
Morgan Stanley Institutional Fund, Inc. Advantage Portfolio (MPAIX) and AGFiQ US Market Neutral Anti-Beta Fund (BTAL) have volatilities of 7.65% and 7.54%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MPAIX | BTAL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.65% | 7.54% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 19.32% | 15.38% | +3.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.54% | 21.59% | +2.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.55% | 18.75% | +16.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.54% | 17.23% | +12.31% |
MPAIX vs. BTAL - Expense Ratio Comparison
MPAIX has a 0.85% expense ratio, which is lower than BTAL's 2.11% expense ratio.
Dividends
MPAIX vs. BTAL - Dividend Comparison
MPAIX's dividend yield for the trailing twelve months is around 0.03%, less than BTAL's 3.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BTAL AGFiQ US Market Neutral Anti-Beta Fund | 3.10% | 2.49% | 3.49% | 6.14% | 1.01% | 0.00% | 0.00% | 0.88% | 0.39% | 0.00% | 0.00% | 0.00% |
MPAIX Morgan Stanley Institutional Fund, Inc. Advantage Portfolio | 0.03% | 0.03% | 1.50% | 0.00% | 28.33% | 23.18% | 5.16% | 3.77% | 4.54% | 7.43% | 2.17% | 8.89% |
Frequently Asked Questions
MPAIX and BTAL have a correlation of -0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MPAIX has higher volatility (7.65%) compared to BTAL (7.54%). In terms of maximum drawdown, MPAIX dropped -64.09% vs BTAL's -50.28%.
MPAIX currently has the higher Sharpe Ratio (0.07 vs -1.72), 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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