TFLO vs. BTAL
TFLO (iShares Treasury Floating Rate Bond ETF) and BTAL (AGFiQ US Market Neutral Anti-Beta Fund) are both exchange-traded funds - TFLO is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Index, while BTAL is a Long-Short fund tracking the Dow Jones U.S. Thematic Market Neutral Anti-Beta Total Return Index. Both are passively managed. Over the past 10 years, TFLO returned 2.37%/yr vs -4.76%/yr for BTAL. At a 0.01 correlation, their price movements are largely independent. TFLO charges 0.15%/yr vs 2.11%/yr for BTAL.
Performance
TFLO vs. BTAL - Performance Comparison
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Returns By Period
In the year-to-date period, TFLO achieves a 1.65% return, which is significantly higher than BTAL's -18.69% return. Over the past 10 years, TFLO has outperformed BTAL with an annualized return of 2.37%, while BTAL has yielded a comparatively lower -4.76% annualized return.
TFLO
- 1D
- 0.04%
- 1M
- 0.29%
- YTD
- 1.65%
- 6M
- 1.92%
- 1Y
- 4.01%
- 3Y*
- 4.72%
- 5Y*
- 3.65%
- 10Y*
- 2.37%
BTAL
- 1D
- -2.26%
- 1M
- -2.66%
- YTD
- -18.69%
- 6M
- -16.94%
- 1Y
- -35.41%
- 3Y*
- -12.18%
- 5Y*
- -4.53%
- 10Y*
- -4.76%
TFLO vs. BTAL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TFLO iShares Treasury Floating Rate Bond ETF | 1.65% | 4.22% | 5.34% | 5.12% | 1.99% | -0.02% | 0.43% | 2.04% | 1.76% | 1.01% |
BTAL AGFiQ US Market Neutral Anti-Beta Fund | -18.69% | -20.17% | 12.83% | -15.11% | 20.48% | -6.81% | -13.86% | 1.07% | 15.13% | -2.13% |
Correlation
The correlation between TFLO and BTAL is -0.01, 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 | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2014 | 0.01 |
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Return for Risk
TFLO vs. BTAL — Risk / Return Rank
TFLO
BTAL
TFLO vs. BTAL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Treasury Floating Rate Bond ETF (TFLO) 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.
| TFLO | BTAL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +15.82 | ||
| Sortino ratioReturn per unit of downside risk | +53.90 | ||
| Omega ratioGain probability vs. loss probability | 14.07 | 0.74 | +13.33 |
| Calmar ratioReturn relative to maximum drawdown | 203.31 | -0.95 | +204.26 |
| Martin ratioReturn relative to average drawdown | 831.80 | -1.62 | +833.42 |
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
| TFLO | BTAL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 14.21 | -1.61 | +15.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 10.35 | -0.24 | +10.59 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 5.23 | -0.28 | +5.50 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.99 | -0.24 | +1.22 |
Drawdowns
TFLO vs. BTAL - Drawdown Comparison
The maximum TFLO drawdown since its inception was -5.01%, smaller than the maximum BTAL drawdown of -50.28%. Use the drawdown chart below to compare losses from any high point for TFLO and BTAL.
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Drawdown Indicators
| TFLO | BTAL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.01% | -50.28% | +45.27% |
Max Drawdown (1Y)Largest decline over 1 year | -0.02% | -37.50% | +37.48% |
Max Drawdown (3Y)Largest decline over 3 years | -0.04% | -45.16% | +45.12% |
Max Drawdown (5Y)Largest decline over 5 years | -0.13% | -45.16% | +45.03% |
Max Drawdown (10Y)Largest decline over 10 years | -0.16% | -50.28% | +50.12% |
Current DrawdownCurrent decline from peak | 0.00% | -49.32% | +49.32% |
Average DrawdownAverage peak-to-trough decline | -0.10% | -21.98% | +21.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 21.90% | -21.90% |
Volatility
TFLO vs. BTAL - Volatility Comparison
The current volatility for iShares Treasury Floating Rate Bond ETF (TFLO) is 0.07%, while AGFiQ US Market Neutral Anti-Beta Fund (BTAL) has a volatility of 7.68%. This indicates that TFLO 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
| TFLO | BTAL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.07% | 7.68% | -7.61% |
Volatility (6M)Calculated over the trailing 6-month period | 0.20% | 15.98% | -15.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.28% | 22.07% | -21.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.35% | 18.86% | -18.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.46% | 17.29% | -16.83% |
TFLO vs. BTAL - Expense Ratio Comparison
TFLO has a 0.15% expense ratio, which is lower than BTAL's 2.11% expense ratio.
Dividends
TFLO vs. BTAL - Dividend Comparison
TFLO's dividend yield for the trailing twelve months is around 3.90%, more than BTAL's 3.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BTAL AGFiQ US Market Neutral Anti-Beta Fund | 3.06% | 2.49% | 3.49% | 6.14% | 1.01% | 0.00% | 0.00% | 0.88% | 0.39% | 0.00% | 0.00% | 0.00% |
TFLO iShares Treasury Floating Rate Bond ETF | 3.90% | 4.16% | 5.21% | 4.88% | 1.68% | 0.00% | 0.36% | 2.08% | 1.65% | 0.86% | 0.31% | 0.15% |
Frequently Asked Questions
TFLO and BTAL have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTAL has higher volatility (7.68%) compared to TFLO (0.07%). In terms of maximum drawdown, TFLO dropped -5.01% vs BTAL's -50.28%.
On 10-year performance, TFLO leads with 2.37% vs -4.76% for BTAL. On fees, TFLO is cheaper at 0.15% per year. On volatility, TFLO has been the lower-risk option at 0.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TFLO has performed better with a 2.37% return vs -4.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TFLO is cheaper with a 0.15% expense ratio, compared with 2.11% for BTAL.
TFLO has the higher dividend yield at 3.90%, compared with 3.06% for BTAL.
TFLO is categorized as Government Bonds, while BTAL is Long-Short. TFLO tracks Bloomberg U.S. Treasury Floating Rate Index, while BTAL tracks Dow Jones U.S. Thematic Market Neutral Anti-Beta Total Return Index. They also come from different issuers: iShares and AGF. Their fees differ too: 0.15% for TFLO and 2.11% for BTAL.
TFLO currently has the higher Sharpe Ratio (14.21 vs -1.61), 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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