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 7.84%/yr vs -5.79%/yr for BTAL. At a correlation of -0.27, 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 11.11% return, which is significantly higher than BTAL's -24.11% return. Over the past 10 years, TOLZ has outperformed BTAL with an annualized return of 7.84%, while BTAL has yielded a comparatively lower -5.79% annualized return.
TOLZ
- 1D
- 0.45%
- 1M
- -3.18%
- YTD
- 11.11%
- 6M
- 12.03%
- 1Y
- 16.22%
- 3Y*
- 14.79%
- 5Y*
- 8.61%
- 10Y*
- 7.84%
BTAL
- 1D
- -0.36%
- 1M
- -10.49%
- YTD
- -24.11%
- 6M
- -22.69%
- 1Y
- -38.86%
- 3Y*
- -13.90%
- 5Y*
- -5.99%
- 10Y*
- -5.79%
TOLZ vs. BTAL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TOLZ ProShares DJ Brookfield Global Infrastructure ETF | 11.11% | 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 | -24.11% | -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 0.06, 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 | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.26 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2014 | -0.27 |
The correlation between TOLZ and BTAL shifts across timeframes, from -0.27 (all time) to 0.06 (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 | +3.30 | ||
| Sortino ratioReturn per unit of downside risk | +4.98 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 0.72 | +0.55 |
| Calmar ratioReturn relative to maximum drawdown | 3.15 | -1.00 | +4.15 |
| Martin ratioReturn relative to average drawdown | 9.12 | -1.84 | +10.97 |
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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% | -38.86% | +33.68% |
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 | -3.30% | -52.70% | +49.40% |
Average DrawdownAverage peak-to-trough decline | -6.61% | -22.05% | +15.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.78% | 21.09% | -19.31% |
Volatility
TOLZ vs. BTAL - Volatility Comparison
The current volatility for ProShares DJ Brookfield Global Infrastructure ETF (TOLZ) is 3.17%, while AGF U.S. Market Neutral Anti-Beta Fund (BTAL) has a volatility of 8.55%. 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 | 3.17% | 8.55% | -5.38% |
Volatility (6M)Calculated over the trailing 6-month period | 8.28% | 16.47% | -8.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.40% | 22.63% | -12.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.98% | 19.05% | -5.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.26% | 17.38% | -1.12% |
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 3.67%, more than BTAL's 3.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BTAL AGF U.S. Market Neutral Anti-Beta Fund | 3.28% | 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 | 3.67% | 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 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTAL has higher volatility (8.55%) compared to TOLZ (3.17%). In terms of maximum drawdown, TOLZ dropped -39.33% vs BTAL's -52.70%.
On 10-year performance, TOLZ leads with 7.84% vs -5.79% for BTAL. On fees, TOLZ is cheaper at 0.46% per year. On volatility, TOLZ has been the lower-risk option at 3.17%. 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 7.84% return vs -5.79%. 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.
TOLZ has the higher dividend yield at 3.67%, compared with 3.28% for BTAL.
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 (1.57 vs -1.73), 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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