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BTAL vs SPY

Comparison between AGF U.S. MARKET NEUTRAL ANTI-BETA FUND (BTAL, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed BTAL, delivering a return of +13.0% compared to -4.7%

BTAL vs SPY - Performance Comparison

Key Characteristics

Financial metrics and valuation ratios

Net Assets
BTAL
$283M
Winner
SPY
$781B
Expense Ratio
BTAL
1.40%
Winner
SPY
0.09%
Max Drawdown
BTAL
58.79%
Winner
SPY
56.47%
Sharpe Ratio
BTAL
-1.40
Winner
SPY
1.25
5Y Beta
Winner
BTAL
-0.87
SPY
1.00
P/E Ratio
BTAL
N/A
SPY
28.78
Forward P/E
BTAL
N/A
SPY
21.23
5Y Dividends CAGR
BTAL
N/A
SPY
6.00%
5Y EPS CAGR
BTAL
N/A
SPY
25.62%
Debt to Equity
BTAL
N/A
SPY
31.92%
P/S Ratio
BTAL
N/A
SPY
3.76
P/B Ratio
BTAL
N/A
SPY
5.64

BTAL vs SPY - Holdings Comparison

BTAL and SPY have 181 common holdings. Overlap is -24.37%

BTAL's top 25 holdings weight is 107.08%. SPY's top 25 holdings weight is 51.74%.

RankBTALSPY
#1
CASH (n/a) - 95.63%
NVIDIA CORP (NVDA) - 7.89%
#2
OKTA INC CLASS A (OKTA) - 0.69%
APPLE INC (AAPL) - 7.37%
#3
MOLINA HEALTHCARE INC (MOH) - 0.54%
MICROSOFT CORP (MSFT) - 4.50%
#4
CCC INTELLIGENT SOLUTIONS HOLDINGS INC (CCC) - 0.53%
AMAZON.COM INC (AMZN) - 3.82%
#5
CLOUDFLARE INC (NET) - 0.53%
ALPHABET INC CLASS A (GOOGL) - 3.33%
#6
RIVIAN AUTOMOTIVE INC CLASS A (RIVN) - 0.50%
BROADCOM INC (AVGO) - 2.86%
#7
SAMSARA INC ORDINARY SHARES CLASS A (IOT) - 0.49%
ALPHABET INC CLASS C (GOOG) - 2.68%
#8
DAVITA INC (DVA) - 0.48%
META PLATFORMS INC CLASS A (META) - 2.29%
#9
PROGRESSIVE CORP (PGR) - 0.47%
TESLA INC (TSLA) - 1.70%
#10
BROWN & BROWN INC (BRO) - 0.47%
MICRON TECHNOLOGY INC (MU) - 1.56%
#11
ALLSTATE CORP (ALL) - 0.47%
JPMORGAN CHASE & CO (JPM) - 1.42%
#12
CENCORA INC (COR) - 0.47%
ELI LILLY AND CO (LLY) - 1.40%
#13
CARDINAL HEALTH INC (CAH) - 0.47%
BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.37%
#14
AUTOMATIC DATA PROCESSING INC (ADP) - 0.47%
ADVANCED MICRO DEVICES INC (AMD) - 1.32%
#15
PAYCHEX INC (PAYX) - 0.47%
EXXONMOBIL HOLDINGS CORP (XOM) - 0.92%
#16
VERISK ANALYTICS INC (VRSK) - 0.46%
JOHNSON & JOHNSON (JNJ) - 0.91%
#17
ABBVIE INC (ABBV) - 0.46%
VISA INC CLASS A (V) - 0.90%
#18
THE TRAVELERS COMPANIES INC (TRV) - 0.46%
WALMART INC (WMT) - 0.76%
#19
DYNATRACE INC ORDINARY SHARES (DT) - 0.46%
INTEL CORP (INTC) - 0.75%
#20
n/a (EXPD) - 0.46%
APPLIED MATERIALS INC (AMAT) - 0.70%
#21
OLD REPUBLIC INTERNATIONAL CORP (ORI) - 0.42%
CISCO SYSTEMS INC (CSCO) - 0.68%
#22
AGREE REALTY CORP (ADC) - 0.42%
MASTERCARD INC CLASS A (MA) - 0.66%
#23
ARCH CAPITAL GROUP LTD (ACGL) - 0.42%
ABBVIE INC (ABBV) - 0.66%
#24
BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 0.42%
CATERPILLAR INC (CAT) - 0.65%
#25
AFLAC INC (AFL) - 0.42%
LAM RESEARCH CORP (LRCX) - 0.64%
Total Holdings365505

BTAL vs SPY - Historical Returns

Returns include dividend reinvestment.

1M
Winner
BTAL
+8.42%
SPY
+0.52%
3M
BTAL
-5.58%
Winner
SPY
+6.55%
6M
BTAL
-14.57%
Winner
SPY
+9.76%
1Y
BTAL
-27.16%
Winner
SPY
+20.32%
5Y(CAGR)
BTAL
-4.74%
Winner
SPY
+13.01%
10Y(CAGR)
BTAL
-4.82%
Winner
SPY
+15.06%
Max(CAGR)
BTAL
-3.82%
Winner
SPY
+8.50%

BTAL vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

YearBTALSPY
2026-15.73%+10.11%
2025-19.89%+18.00%
2024+10.73%+25.59%
2023-16.21%+26.72%
2022+21.71%-18.64%
2021-7.35%+30.52%
2020-13.74%+17.28%
2019+2.04%+31.09%
2018+16.45%-5.24%
2017-1.13%+20.78%
2016-5.06%+13.59%
2015+4.33%+1.31%
2014+8.06%+14.56%
2013-11.09%+29.00%
2012-7.04%+14.17%
2011-2.50%+0.85%
2010N/A+13.14%
2009N/A+22.67%
2008N/A-36.25%
2007N/A+5.32%
2006N/A+13.85%
2005N/A+5.32%
2004N/A+10.75%
2003N/A+24.18%
2002N/A-22.42%
2001N/A-10.13%
2000N/A-8.84%
1999N/A+8.61%

BTAL vs SPY Drawdown Comparison

The maximum drawdown for BTAL was -52.72%, occurring on Jun 22, 2026. This drawdown has not yet recovered.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current BTAL drawdown is -48.74%. The current SPY drawdown is -1.24%.

RankBTALSPY
#1-52.72%
Mar 12, 2020 - Jun 22, 2026		-55.20%
Oct 9, 2007 - Aug 16, 2012
#2-29.52%
Oct 3, 2011 - Mar 9, 2020		-47.50%
Mar 24, 2000 - Oct 26, 2006
#3-2.13%
Sep 26, 2011 - Sep 29, 2011		-33.70%
Feb 19, 2020 - Aug 10, 2020
#4-1.62%
Sep 13, 2011 - Sep 21, 2011		-24.50%
Jan 3, 2022 - Dec 13, 2023
#5-1.46%
Mar 9, 2020 - Mar 12, 2020		-19.34%
Sep 20, 2018 - Apr 12, 2019
#6N/A-18.76%
Feb 19, 2025 - Jun 26, 2025
#7N/A-13.02%
Jul 20, 2015 - Apr 18, 2016
#8N/A-10.10%
Jan 26, 2018 - Aug 6, 2018
#9N/A-9.44%
Sep 2, 2020 - Nov 11, 2020
#10N/A-9.30%
Jan 19, 2000 - Mar 17, 2000
#11N/A-9.05%
Jul 19, 2007 - Oct 5, 2007
#12N/A-8.88%
Jan 27, 2026 - Apr 14, 2026
#13N/A-8.41%
Jul 16, 2024 - Sep 19, 2024
#14N/A-7.35%
Sep 14, 2012 - Jan 2, 2013
#15N/A-7.27%
Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between BTAL and SPY is -0.48 which considered as a weak negative correlation - the stocks show a slight tendency to move in opposite directions.

-0.48
-101

Dividend Comparison (1999 - 2026)

BTAL vs SPY dividend yield comparison.

YearBTALSPY
20260.00%0.49%
20252.49%1.07%
20243.49%1.21%
20236.14%1.40%
20221.01%1.65%
20210.00%1.20%
20200.00%1.52%
20190.88%1.75%
20180.39%2.04%
20170.00%1.80%
20160.00%2.03%
20150.00%2.06%
20140.00%1.87%
20130.00%1.81%
20120.00%2.18%
20111.80%2.05%
20100.00%1.80%
20090.00%1.95%
20080.00%3.02%
20070.00%1.85%
20060.00%1.73%
20050.00%1.73%
20040.00%1.82%
20030.00%1.47%
20020.00%1.70%
20010.00%1.25%
20000.00%1.15%
19990.00%0.24%

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