MRSK vs. BTAL
MRSK (Agility Shares Managed Risk ETF) and BTAL (AGF U.S. Market Neutral Anti-Beta Fund) are both exchange-traded funds - MRSK is a Hedge Fund fund actively managed by Toews Corp., while BTAL is a Equity Market Neutral fund actively managed by AGF. Both are actively managed. Over the past 5 years, MRSK returned 7.72%/yr vs -5.21%/yr for BTAL. At a correlation of -0.49, they often move in opposite directions. MRSK charges 0.99%/yr vs 1.40%/yr for BTAL.
Performance
MRSK vs. BTAL - Performance Comparison
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Returns By Period
In the year-to-date period, MRSK achieves a 3.48% return, which is significantly higher than BTAL's -21.75% return.
MRSK
- 1D
- -0.92%
- 1M
- -0.16%
- YTD
- 3.48%
- 6M
- 2.84%
- 1Y
- 16.47%
- 3Y*
- 10.45%
- 5Y*
- 7.72%
- 10Y*
- —
BTAL
- 1D
- 3.11%
- 1M
- -7.70%
- YTD
- -21.75%
- 6M
- -20.50%
- 1Y
- -36.96%
- 3Y*
- -13.01%
- 5Y*
- -5.21%
- 10Y*
- -5.50%
MRSK vs. BTAL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
MRSK Agility Shares Managed Risk ETF | 3.48% | 11.93% | 14.62% | 13.29% | -11.86% | 20.74% | 15.57% |
BTAL AGF U.S. Market Neutral Anti-Beta Fund | -21.75% | -20.17% | 12.83% | -15.11% | 20.48% | -6.81% | -21.51% |
Correlation
The correlation between MRSK and BTAL is -0.64, 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 | -0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.57 |
Correlation (All Time) Calculated using the full available price history since Jun 25, 2020 | -0.49 |
The correlation between MRSK and BTAL shifts across timeframes, from -0.64 (1 year) to -0.49 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MRSK vs. BTAL — Risk / Return Rank
MRSK
BTAL
MRSK vs. BTAL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Agility Shares Managed Risk ETF (MRSK) 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.
| MRSK | BTAL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.15 | ||
| Sortino ratioReturn per unit of downside risk | +4.66 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 0.74 | +0.55 |
| Calmar ratioReturn relative to maximum drawdown | 2.11 | -0.98 | +3.10 |
| Martin ratioReturn relative to average drawdown | 8.36 | -1.85 | +10.20 |
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Drawdowns
MRSK vs. BTAL - Drawdown Comparison
The maximum MRSK drawdown since its inception was -14.70%, smaller than the maximum BTAL drawdown of -52.70%. Use the drawdown chart below to compare losses from any high point for MRSK and BTAL.
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Drawdown Indicators
| MRSK | BTAL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.70% | -52.70% | +38.00% |
Max Drawdown (1Y)Largest decline over 1 year | -7.82% | -37.81% | +29.99% |
Max Drawdown (3Y)Largest decline over 3 years | -12.22% | -47.83% | +35.61% |
Max Drawdown (5Y)Largest decline over 5 years | -14.70% | -47.83% | +33.13% |
Max Drawdown (10Y)Largest decline over 10 years | — | -52.70% | — |
Current DrawdownCurrent decline from peak | -1.89% | -51.23% | +49.34% |
Average DrawdownAverage peak-to-trough decline | -3.56% | -22.05% | +18.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.98% | 21.21% | -19.23% |
Volatility
MRSK vs. BTAL - Volatility Comparison
The current volatility for Agility Shares Managed Risk ETF (MRSK) is 3.37%, while AGF U.S. Market Neutral Anti-Beta Fund (BTAL) has a volatility of 9.28%. This indicates that MRSK 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
| MRSK | BTAL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.37% | 9.28% | -5.91% |
Volatility (6M)Calculated over the trailing 6-month period | 8.27% | 16.73% | -8.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.85% | 22.83% | -11.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.75% | 19.10% | -7.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.86% | 17.36% | -5.50% |
MRSK vs. BTAL - Expense Ratio Comparison
MRSK has a 0.99% expense ratio, which is lower than BTAL's 1.40% expense ratio.
Dividends
MRSK vs. BTAL - Dividend Comparison
MRSK's dividend yield for the trailing twelve months is around 0.36%, less than BTAL's 3.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BTAL AGF U.S. Market Neutral Anti-Beta Fund | 3.18% | 2.49% | 3.49% | 6.14% | 1.01% | 0.00% | 0.00% | 0.88% | 0.39% |
MRSK Agility Shares Managed Risk ETF | 0.36% | 0.37% | 0.44% | 0.60% | 1.11% | 14.20% | 4.29% | 0.00% | 0.00% |
Frequently Asked Questions
MRSK and BTAL have a correlation of -0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTAL has higher volatility (9.28%) compared to MRSK (3.37%). In terms of maximum drawdown, MRSK dropped -14.70% vs BTAL's -52.70%.
On 5-year performance, MRSK leads with 7.72% vs -5.21% for BTAL. On fees, MRSK is cheaper at 0.99% per year. On volatility, MRSK has been the lower-risk option at 3.37%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, MRSK has performed better with a 7.72% return vs -5.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MRSK is cheaper with a 0.99% expense ratio, compared with 1.40% for BTAL.
BTAL has the higher dividend yield at 3.18%, compared with 0.36% for MRSK.
MRSK is categorized as Hedge Fund, while BTAL is Equity Market Neutral. They also come from different issuers: Toews Corp. and AGF. Their fees differ too: 0.99% for MRSK and 1.40% for BTAL.
MRSK currently has the higher Sharpe Ratio (1.53 vs -1.62), 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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