PSQ vs. BTAL
Compare and contrast key facts about ProShares Short QQQ (PSQ) and AGFiQ US Market Neutral Anti-Beta Fund (BTAL).
PSQ and BTAL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PSQ is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (-100%). It was launched on Jun 19, 2006. BTAL is a passively managed fund by AGF that tracks the performance of the Dow Jones U.S. Thematic Market Neutral Anti-Beta Total Return Index. It was launched on Sep 13, 2011. Both PSQ and BTAL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
PSQ vs. BTAL - Performance Comparison
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PSQ vs. BTAL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSQ ProShares Short QQQ | 7.10% | -15.51% | -15.68% | -32.01% | 36.40% | -24.84% | -41.23% | -27.49% | -2.34% | -24.77% |
BTAL AGFiQ US Market Neutral Anti-Beta Fund | -2.99% | -20.17% | 12.83% | -15.11% | 20.48% | -6.81% | -13.86% | 1.07% | 15.13% | -2.13% |
Returns By Period
In the year-to-date period, PSQ achieves a 7.10% return, which is significantly higher than BTAL's -2.99% return. Over the past 10 years, PSQ has underperformed BTAL with an annualized return of -17.21%, while BTAL has yielded a comparatively higher -3.16% annualized return.
PSQ
- 1D
- -3.36%
- 1M
- 5.19%
- YTD
- 7.10%
- 6M
- 5.61%
- 1Y
- -17.44%
- 3Y*
- -14.62%
- 5Y*
- -10.93%
- 10Y*
- -17.21%
BTAL
- 1D
- -2.72%
- 1M
- -0.85%
- YTD
- -2.99%
- 6M
- -10.10%
- 1Y
- -31.33%
- 3Y*
- -8.29%
- 5Y*
- -1.50%
- 10Y*
- -3.16%
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PSQ vs. BTAL - Expense Ratio Comparison
PSQ has a 0.95% expense ratio, which is lower than BTAL's 2.11% expense ratio.
Return for Risk
PSQ vs. BTAL — Risk / Return Rank
PSQ
BTAL
PSQ vs. BTAL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short QQQ (PSQ) 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.
| PSQ | BTAL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.78 | -1.40 | +0.62 |
Sortino ratioReturn per unit of downside risk | -0.98 | -2.13 | +1.15 |
Omega ratioGain probability vs. loss probability | 0.86 | 0.77 | +0.09 |
Calmar ratioReturn relative to maximum drawdown | -0.51 | -0.88 | +0.37 |
Martin ratioReturn relative to average drawdown | -0.64 | -1.20 | +0.56 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PSQ | BTAL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.78 | -1.40 | +0.62 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.49 | -0.08 | -0.41 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.78 | -0.19 | -0.59 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.72 | -0.17 | -0.55 |
Correlation
The correlation between PSQ and BTAL is 0.47, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
PSQ vs. BTAL - Dividend Comparison
PSQ's dividend yield for the trailing twelve months is around 4.08%, more than BTAL's 2.56% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSQ ProShares Short QQQ | 4.08% | 4.97% | 7.15% | 6.01% | 0.35% | 0.00% | 0.31% | 1.75% | 0.95% | 0.02% |
BTAL AGFiQ US Market Neutral Anti-Beta Fund | 2.56% | 2.49% | 3.49% | 6.14% | 1.01% | 0.00% | 0.00% | 0.88% | 0.39% | 0.00% |
Drawdowns
PSQ vs. BTAL - Drawdown Comparison
The maximum PSQ drawdown since its inception was -97.99%, which is greater than BTAL's maximum drawdown of -41.01%. Use the drawdown chart below to compare losses from any high point for PSQ and BTAL.
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Drawdown Indicators
| PSQ | BTAL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.99% | -41.01% | -56.98% |
Max Drawdown (1Y)Largest decline over 1 year | -33.97% | -34.94% | +0.97% |
Max Drawdown (5Y)Largest decline over 5 years | -54.95% | -34.94% | -20.01% |
Max Drawdown (10Y)Largest decline over 10 years | -87.30% | -41.01% | -46.29% |
Current DrawdownCurrent decline from peak | -97.76% | -39.53% | -58.23% |
Average DrawdownAverage peak-to-trough decline | -73.76% | -21.67% | -52.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.21% | 25.64% | +1.57% |
Volatility
PSQ vs. BTAL - Volatility Comparison
ProShares Short QQQ (PSQ) and AGFiQ US Market Neutral Anti-Beta Fund (BTAL) have volatilities of 6.57% and 6.87%, 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
| PSQ | BTAL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.57% | 6.87% | -0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 12.77% | 15.84% | -3.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.53% | 22.51% | +0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.45% | 18.36% | +4.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.21% | 17.04% | +5.17% |