MURGY vs. BTAL
MURGY (Muenchener Rueckver Ges) is a stock, while BTAL (AGF U.S. Market Neutral Anti-Beta Fund) is Equity Market Neutral fund actively managed by AGF. Over the past 10 years, MURGY returned 18.87%/yr vs -4.60%/yr for BTAL. At a correlation of -0.25, they often move in opposite directions.
Performance
MURGY vs. BTAL - Performance Comparison
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Returns By Period
In the year-to-date period, MURGY achieves a -6.54% return, which is significantly higher than BTAL's -15.84% return. Over the past 10 years, MURGY has outperformed BTAL with an annualized return of 18.87%, while BTAL has yielded a comparatively lower -4.60% annualized return.
MURGY
- 1D
- -0.42%
- 1M
- 11.24%
- 6M
- 0.96%
- YTD
- -6.54%
- 1Y
- -7.52%
- 3Y*
- 20.20%
- 5Y*
- 21.53%
- 10Y*
- 18.87%
- ALL TIME*
- 15.07%
BTAL
- 1D
- 0.00%
- 1M
- 10.49%
- 6M
- -12.25%
- YTD
- -15.84%
- 1Y
- -25.57%
- 3Y*
- -9.44%
- 5Y*
- -4.30%
- 10Y*
- -4.60%
- ALL TIME*
- -3.86%
MURGY vs. BTAL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MURGY Muenchener Rueckver Ges | -6.54% | 36.01% | 23.53% | 34.32% | 14.50% | 2.58% | 4.34% | 38.79% | 4.17% | 28.67% |
BTAL AGF U.S. Market Neutral Anti-Beta Fund | -15.84% | -20.17% | 12.83% | -15.11% | 20.48% | -6.81% | -13.86% | 1.07% | 15.13% | -2.13% |
Correlation
The correlation between MURGY and BTAL is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.23 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2011 | -0.25 |
The correlation between MURGY and BTAL shifts across timeframes, from -0.25 (all time) to -0.07 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MURGY vs. BTAL — Risk / Return Rank
MURGY
BTAL
MURGY vs. BTAL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Muenchener Rueckver Ges (MURGY) 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.
| MURGY | BTAL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.76 | ||
| Sortino ratioReturn per unit of downside risk | +1.27 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 0.83 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.30 | -0.74 | +0.44 |
| Martin ratioReturn relative to average drawdown | -0.60 | -1.39 | +0.80 |
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Drawdowns
MURGY vs. BTAL - Drawdown Comparison
The maximum MURGY drawdown since its inception was -48.01%, smaller than the maximum BTAL drawdown of -52.70%. Use the drawdown chart below to compare losses from any high point for MURGY and BTAL.
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Drawdown Indicators
| MURGY | BTAL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.01% | -52.70% | +4.69% |
Max Drawdown (1Y)Largest decline over 1 year | -25.23% | -34.57% | +9.34% |
Max Drawdown (3Y)Largest decline over 3 years | -25.23% | -47.83% | +22.60% |
Max Drawdown (5Y)Largest decline over 5 years | -29.54% | -47.83% | +18.29% |
Max Drawdown (10Y)Largest decline over 10 years | -48.01% | -52.70% | +4.69% |
Current DrawdownCurrent decline from peak | -12.88% | -47.55% | +34.67% |
Average DrawdownAverage peak-to-trough decline | -8.75% | -22.19% | +13.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.66% | 18.40% | -5.74% |
Volatility
MURGY vs. BTAL - Volatility Comparison
The current volatility for Muenchener Rueckver Ges (MURGY) is 4.97%, while AGF U.S. Market Neutral Anti-Beta Fund (BTAL) has a volatility of 7.95%. This indicates that MURGY 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
| MURGY | BTAL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.97% | 7.95% | -2.98% |
Volatility (6M)Calculated over the trailing 6-month period | 16.78% | 17.50% | -0.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.48% | 23.51% | -1.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.32% | 19.27% | +5.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.63% | 17.40% | +8.23% |
Dividends
MURGY vs. BTAL - Dividend Comparison
MURGY's dividend yield for the trailing twelve months is around 4.71%, more than BTAL's 2.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BTAL AGF U.S. Market Neutral Anti-Beta Fund | 2.96% | 2.49% | 3.49% | 6.14% | 1.01% | 0.00% | 0.00% | 0.88% | 0.39% | 0.00% | 0.00% | 0.00% |
MURGY Muenchener Rueckver Ges | 4.71% | 3.31% | 3.21% | 2.98% | 3.73% | 2.68% | 2.50% | 2.44% | 3.39% | 10.17% | 9.45% | 4.25% |
Frequently Asked Questions
MURGY and BTAL have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTAL has higher volatility (7.95%) compared to MURGY (4.97%). In terms of maximum drawdown, MURGY dropped -48.01% vs BTAL's -52.70%.
MURGY currently has the higher Sharpe Ratio (-0.34 vs -1.09), 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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