BTAL vs HEQT

Comparison between AGF U.S. MARKET NEUTRAL ANTI-BETA FUND (BTAL, ETF) and SIMPLIFY HEDGED EQUITY ETF (HEQT, ETF).

5-Year PerformanceHEQT has outperformed BTAL, delivering a return of +8.9% compared to -3.9%

BTAL vs HEQT - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	BTAL(ETF)	HEQT(ETF)
Net Assets	$321M	$321M
Expense Ratio	1.40%	0.43%
Max Drawdown	56.68%	13.07%
Sharpe Ratio	-1.98	1.47
5Y Beta	-0.83	0.47

Net Assets

BTAL

$321M

Winner

HEQT

$321M

Expense Ratio

BTAL

1.40%

Winner

HEQT

0.43%

Max Drawdown

BTAL

56.68%

Winner

HEQT

13.07%

Sharpe Ratio

BTAL

-1.98

Winner

HEQT

1.47

5Y Beta

Winner

BTAL

-0.83

HEQT

0.47

BTAL vs HEQT - Holdings Comparison

BTAL and HEQT have 0 common holdings. Overlap is 0.00%

BTAL's top 25 holdings weight is 124.02%. HEQT's top 25 holdings weight is 104.01%.

Rank	BTAL	HEQT
#1	CASH (n/a) - 110.07%	ISHARES CORE S&P 500 ETF (IVV) - 104.01%
#2	AKAMAI TECHNOLOGIES INC (AKAM) - 0.70%	N/A
#3	F5 INC (FFIV) - 0.67%	N/A
#4	CISCO SYSTEMS INC (CSCO) - 0.66%	N/A
#5	ENPHASE ENERGY INC (ENPH) - 0.64%	N/A
#6	ARROW ELECTRONICS INC (ARW) - 0.64%	N/A
#7	MURPHY USA INC (MUSA) - 0.63%	N/A
#8	VERISIGN INC (VRSN) - 0.62%	N/A
#9	VARONIS SYSTEMS INC (VRNS) - 0.59%	N/A
#10	CENTENE CORP (CNC) - 0.59%	N/A
#11	VIRTU FINANCIAL INC CLASS A (VIRT) - 0.58%	N/A
#12	EBAY INC (EBAY) - 0.58%	N/A
#13	OKTA INC CLASS A (OKTA) - 0.57%	N/A
#14	H&R BLOCK INC (HRB) - 0.57%	N/A
#15	UNITEDHEALTH GROUP INC (UNH) - 0.57%	N/A
#16	UL SOLUTIONS INC CLASS A COMMON STOCK (ULS) - 0.56%	N/A
#17	FIRSTCASH HOLDINGS INC (FCFS) - 0.55%	N/A
#18	CF INDUSTRIES HOLDINGS INC (CF) - 0.54%	N/A
#19	CBOE GLOBAL MARKETS INC (CBOE) - 0.54%	N/A
#20	n/a (MP) - 0.54%	N/A
#21	MOLINA HEALTHCARE INC (MOH) - 0.54%	N/A
#22	ROYALTY PHARMA PLC CLASS A (RPRX) - 0.54%	N/A
#23	ELEVANCE HEALTH INC (ELV) - 0.52%	N/A
#24	CROCS INC (CROX) - 0.51%	N/A
#25	OCCIDENTAL PETROLEUM CORP (OXY) - 0.50%	N/A
Total Holdings	404	1

BTAL vs HEQT - Historical Returns

Returns include dividend reinvestment.

Period	BTAL	HEQT
1 month	-1.97%	+0.42%
3 months	-15.76%	+3.66%
6 months	-15.74%	+4.47%
1 year	-34.85%	+13.84%
5 years(CAGR)	-3.90%	+8.92%
10 years(CAGR)	-4.25%	N/A
Max(CAGR)	-3.78%	+8.92%

BTAL

-1.97%

Winner

HEQT

+0.42%

BTAL

-15.76%

Winner

HEQT

+3.66%

BTAL

-15.74%

Winner

HEQT

+4.47%

BTAL

-34.85%

Winner

HEQT

+13.84%

5Y(CAGR)

BTAL

-3.90%

Winner

HEQT

+8.92%

10Y(CAGR)

BTAL

-4.25%

HEQT

N/A

Max(CAGR)

BTAL

-3.78%

Winner

HEQT

+8.92%

BTAL vs HEQT - Annual Returns (2011 - 2026)

Returns include dividend reinvestment.

Year	BTAL	HEQT
2026	-14.80%	+4.02%
2025	-19.89%	+10.19%
2024	+10.73%	+18.25%
2023	-16.21%	+16.76%
2022	+21.71%	-8.51%
2021	-7.35%	+2.16%
2020	-13.74%	N/A
2019	+2.04%	N/A
2018	+16.45%	N/A
2017	-1.13%	N/A
2016	-5.06%	N/A
2015	+4.33%	N/A
2014	+8.06%	N/A
2013	-11.09%	N/A
2012	-7.04%	N/A
2011	-2.50%	N/A

BTAL vs HEQT Drawdown Comparison

The maximum drawdown for BTAL was -50.29%, occurring on Jun 2, 2026. This drawdown has not yet recovered.

The maximum drawdown for HEQT was -11.51%, occurring on Jun 16, 2022. Recovery took 356 trading sessions.

The current BTAL drawdown is -48.17%. The current HEQT drawdown is -0.98%.

Rank	BTAL	HEQT
#1	-50.29% Mar 12, 2020 - Jun 2, 2026	-11.51% Jan 4, 2022 - Jun 6, 2023
#2	-29.52% Oct 3, 2011 - Mar 9, 2020	-10.56% Feb 19, 2025 - Jul 22, 2025
#3	-2.13% Sep 26, 2011 - Sep 29, 2011	-5.87% Aug 30, 2023 - Nov 20, 2023
#4	-1.62% Sep 13, 2011 - Sep 21, 2011	-5.09% Feb 25, 2026 - Apr 16, 2026
#5	-1.46% Mar 9, 2020 - Mar 12, 2020	-5.04% Jul 16, 2024 - Aug 19, 2024
#6	N/A	-2.99% Aug 30, 2024 - Sep 16, 2024
#7	N/A	-2.90% Dec 11, 2024 - Jan 22, 2025
#8	N/A	-2.68% Mar 28, 2024 - May 6, 2024
#9	N/A	-2.57% Nov 11, 2025 - Nov 28, 2025
#10	N/A	-2.26% Jul 31, 2023 - Aug 30, 2023
#11	N/A	-2.03% Nov 18, 2021 - Dec 8, 2021
#12	N/A	-1.51% Feb 2, 2026 - Feb 9, 2026
#13	N/A	-1.48% Dec 15, 2021 - Dec 23, 2021
#14	N/A	-1.47% Dec 11, 2025 - Dec 22, 2025
#15	N/A	-1.41% Oct 22, 2024 - Nov 6, 2024

Correlation

Correlation between BTAL and HEQT is -0.50 which considered as a weak negative correlation - the stocks show a slight tendency to move in opposite directions.

-0.50

-101