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 Infrastructure 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 7.50%/yr vs -4.41%/yr for BTAL. Their -0.26 correlation means they have often moved in opposite directions in the past. 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 12.26% return, which is significantly higher than BTAL's -14.87% return. Over the past 10 years, TOLZ has outperformed BTAL with an annualized return of 7.50%, while BTAL has yielded a comparatively lower -4.41% annualized return.
TOLZ
- 1D
- -0.70%
- 1M
- 0.30%
- 6M
- 7.13%
- YTD
- 12.26%
- 1Y
- 15.76%
- 3Y*
- 14.11%
- 5Y*
- 8.83%
- 10Y*
- 7.50%
- ALL TIME*
- 6.71%
BTAL
- 1D
- -0.33%
- 1M
- 5.79%
- 6M
- -13.85%
- YTD
- -14.87%
- 1Y
- -25.47%
- 3Y*
- -8.33%
- 5Y*
- -4.14%
- 10Y*
- -4.41%
- ALL TIME*
- -3.78%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $10.19M | $8.38M | $8.16M | |
| $2.85M | $1.54M | $1.36M |
TOLZ vs. BTAL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TOLZ ProShares DJ Brookfield Global Infrastructure ETF | 12.26% | 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 | -14.87% | -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 historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.11 |
Correlation (3Y) Balances recent behavior with more history. | -0.10 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.22 |
Correlation (10Y) Provides a long-term view across more market conditions. | -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 | +2.55 | ||
| Sortino ratioReturn per unit of downside risk | +3.65 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 0.85 | +0.42 |
| Calmar ratioReturn relative to maximum drawdown | 3.20 | -0.69 | +3.89 |
| Martin ratioReturn relative to average drawdown | 8.87 | -1.25 | +10.11 |
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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% | -34.57% | +29.39% |
Max Drawdown (3Y)Largest decline over 3 years | -9.26% | -47.83% | +38.57% |
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 | -2.30% | -46.94% | +44.64% |
Average DrawdownAverage peak-to-trough decline | -6.57% | -22.25% | +15.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.86% | 19.09% | -17.23% |
Volatility
TOLZ vs. BTAL - Volatility Comparison
The current volatility for ProShares DJ Brookfield Global Infrastructure ETF (TOLZ) is 3.58%, while AGF U.S. Market Neutral Anti-Beta Fund (BTAL) has a volatility of 7.89%. 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 | 3.58% | 7.89% | -4.31% |
Volatility (6M)Calculated over the trailing 6-month period | 8.79% | 17.97% | -9.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.70% | 23.85% | -13.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.03% | 19.39% | -5.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.23% | 17.47% | -1.24% |
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 2.97%, more than BTAL's 2.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BTAL AGF U.S. Market Neutral Anti-Beta Fund | 2.92% | 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 | 2.97% | 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 (7.89%) compared to TOLZ (3.58%). In terms of maximum drawdown, TOLZ dropped -39.33% vs BTAL's -52.70%.
On 10-year performance, TOLZ leads with 7.50% vs -4.41% for BTAL. On fees, TOLZ is cheaper at 0.46% per year. On volatility, TOLZ has been the lower-risk option at 3.58%. 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 7.50% return vs -4.41%. 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 2.97%, compared with 2.92% for BTAL.
TOLZ is categorized as Infrastructure 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 (1.55 vs -1.00), 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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