TOLZ vs. BTAL
TOLZ (ProShares DJ Brookfield Global Infrastructure ETF) and BTAL (AGF U.S. Market Neutral Anti-Beta Fund) are both exchange-traded funds - TOLZ is a Industrials Equities fund tracking the Dow Jones Brookfield Global Infrastructure Composite Index, while BTAL is a Equity Market Neutral fund actively managed by AGF. TOLZ is passively managed, while BTAL is actively managed. Over the past 10 years, TOLZ returned 7.45%/yr vs -4.85%/yr for BTAL. At a correlation of -0.26, they often move in opposite directions. TOLZ charges 0.46%/yr vs 1.40%/yr for BTAL.
Performance
TOLZ vs. BTAL - Performance Comparison
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Returns By Period
In the year-to-date period, TOLZ achieves a 13.07% return, which is significantly higher than BTAL's -17.58% return. Over the past 10 years, TOLZ has outperformed BTAL with an annualized return of 7.45%, while BTAL has yielded a comparatively lower -4.85% annualized return.
TOLZ
- 1D
- 0.60%
- 1M
- -0.10%
- 6M
- 13.42%
- YTD
- 13.07%
- 1Y
- 17.79%
- 3Y*
- 13.99%
- 5Y*
- 8.93%
- 10Y*
- 7.45%
BTAL
- 1D
- 1.98%
- 1M
- 3.22%
- 6M
- -14.80%
- YTD
- -17.58%
- 1Y
- -28.86%
- 3Y*
- -9.69%
- 5Y*
- -4.64%
- 10Y*
- -4.85%
TOLZ vs. BTAL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TOLZ ProShares DJ Brookfield Global Infrastructure ETF | 13.07% | 14.76% | 11.67% | 6.18% | -4.25% | 20.47% | -9.46% | 26.84% | -7.90% | 13.28% |
BTAL AGF U.S. Market Neutral Anti-Beta Fund | -17.58% | -20.17% | 12.83% | -15.11% | 20.48% | -6.81% | -13.86% | 1.07% | 15.13% | -2.13% |
Correlation
The correlation between TOLZ and BTAL is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.25 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2014 | -0.26 |
The correlation between TOLZ and BTAL shifts across timeframes, from -0.26 (all time) to 0.11 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TOLZ vs. BTAL — Risk / Return Rank
TOLZ
BTAL
TOLZ vs. BTAL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares DJ Brookfield Global Infrastructure ETF (TOLZ) 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.
| TOLZ | BTAL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.93 | ||
| Sortino ratioReturn per unit of downside risk | +4.27 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 0.81 | +0.48 |
| Calmar ratioReturn relative to maximum drawdown | 3.45 | -0.84 | +4.29 |
| Martin ratioReturn relative to average drawdown | 9.72 | -1.61 | +11.33 |
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Drawdowns
TOLZ vs. BTAL - Drawdown Comparison
The maximum TOLZ drawdown since its inception was -39.33%, smaller than the maximum BTAL drawdown of -52.70%. Use the drawdown chart below to compare losses from any high point for TOLZ and BTAL.
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Drawdown Indicators
| TOLZ | BTAL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.33% | -52.70% | +13.37% |
Max Drawdown (1Y)Largest decline over 1 year | -5.18% | -34.61% | +29.43% |
Max Drawdown (3Y)Largest decline over 3 years | -11.94% | -47.83% | +35.89% |
Max Drawdown (5Y)Largest decline over 5 years | -21.85% | -47.83% | +25.98% |
Max Drawdown (10Y)Largest decline over 10 years | -39.33% | -52.70% | +13.37% |
Current DrawdownCurrent decline from peak | -1.59% | -48.63% | +47.04% |
Average DrawdownAverage peak-to-trough decline | -6.60% | -22.15% | +15.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.83% | 18.00% | -16.17% |
Volatility
TOLZ vs. BTAL - Volatility Comparison
The current volatility for ProShares DJ Brookfield Global Infrastructure ETF (TOLZ) is 3.68%, while AGF U.S. Market Neutral Anti-Beta Fund (BTAL) has a volatility of 8.77%. This indicates that TOLZ 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
| TOLZ | BTAL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.68% | 8.77% | -5.09% |
Volatility (6M)Calculated over the trailing 6-month period | 8.67% | 17.19% | -8.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.66% | 23.28% | -12.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.03% | 19.23% | -5.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.23% | 17.36% | -1.13% |
TOLZ vs. BTAL - Expense Ratio Comparison
TOLZ has a 0.46% expense ratio, which is lower than BTAL's 1.40% expense ratio.
Dividends
TOLZ vs. BTAL - Dividend Comparison
TOLZ's dividend yield for the trailing twelve months is around 2.95%, less than BTAL's 3.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BTAL AGF U.S. Market Neutral Anti-Beta Fund | 3.02% | 2.49% | 3.49% | 6.14% | 1.01% | 0.00% | 0.00% | 0.88% | 0.39% | 0.00% | 0.00% | 0.00% |
TOLZ ProShares DJ Brookfield Global Infrastructure ETF | 2.95% | 3.99% | 3.53% | 3.34% | 3.01% | 3.28% | 3.16% | 2.96% | 3.63% | 3.30% | 2.62% | 3.67% |
Frequently Asked Questions
TOLZ and BTAL have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTAL has higher volatility (8.77%) compared to TOLZ (3.68%). In terms of maximum drawdown, TOLZ dropped -39.33% vs BTAL's -52.70%.
On 10-year performance, TOLZ leads with 7.45% vs -4.85% for BTAL. On fees, TOLZ is cheaper at 0.46% per year. On volatility, TOLZ has been the lower-risk option at 3.68%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TOLZ has performed better with a 7.45% return vs -4.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TOLZ is cheaper with a 0.46% expense ratio, compared with 1.40% for BTAL.
BTAL has the higher dividend yield at 3.02%, compared with 2.95% for TOLZ.
TOLZ is categorized as Industrials Equities, while BTAL is Equity Market Neutral. They also come from different issuers: ProShares and AGF. Their fees differ too: 0.46% for TOLZ and 1.40% for BTAL.
TOLZ currently has the higher Sharpe Ratio (1.68 vs -1.25), 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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