UTEN vs BTAL

Comparison between F/M US TREASURY 10 YEAR NOTE ETF (UTEN, ETF) and AGF U.S. MARKET NEUTRAL ANTI-BETA FUND (BTAL, ETF).

UTEN vs BTAL - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	UTEN(ETF)	BTAL(ETF)
Net Assets	$284M	$283M
Expense Ratio	0.15%	1.40%
Max Drawdown	16.76%	58.79%
Sharpe Ratio	-0.16	-1.40
5Y Beta	0.00	-0.87

Net Assets

Winner

UTEN

$284M

BTAL

$283M

Expense Ratio

Winner

UTEN

0.15%

BTAL

1.40%

Max Drawdown

Winner

UTEN

16.76%

BTAL

58.79%

Sharpe Ratio

Winner

UTEN

-0.16

BTAL

-1.40

5Y Beta

UTEN

0.00

Winner

BTAL

-0.87

UTEN vs BTAL - Historical Returns

Returns include dividend reinvestment.

Period	UTEN	BTAL
1 month	-0.65%	+8.42%
3 months	-1.38%	-5.58%
6 months	-0.80%	-14.57%
1 year	+2.43%	-27.16%
5 years(CAGR)	N/A	-4.74%
10 years(CAGR)	N/A	-4.82%
Max(CAGR)	-0.10%	-3.82%

UTEN

-0.65%

Winner

BTAL

+8.42%

Winner

UTEN

-1.38%

BTAL

-5.58%

Winner

UTEN

-0.80%

BTAL

-14.57%

Winner

UTEN

+2.43%

BTAL

-27.16%

5Y(CAGR)

UTEN

N/A

BTAL

-4.74%

10Y(CAGR)

UTEN

N/A

BTAL

-4.82%

Max(CAGR)

Winner

UTEN

-0.10%

BTAL

-3.82%

UTEN vs BTAL - Annual Returns (2011 - 2026)

Returns include dividend reinvestment.

Year	UTEN	BTAL
2026	-1.12%	-15.73%
2025	+7.85%	-19.89%
2024	-1.27%	+10.73%
2023	+2.37%	-16.21%
2022	-7.80%	+21.71%
2021	N/A	-7.35%
2020	N/A	-13.74%
2019	N/A	+2.04%
2018	N/A	+16.45%
2017	N/A	-1.13%
2016	N/A	-5.06%
2015	N/A	+4.33%
2014	N/A	+8.06%
2013	N/A	-11.09%
2012	N/A	-7.04%
2011	N/A	-2.50%

UTEN vs BTAL Drawdown Comparison

The maximum drawdown for UTEN was -13.36%, occurring on Oct 19, 2023. Recovery took 770 trading sessions.

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

The current UTEN drawdown is -3.57%. The current BTAL drawdown is -48.74%.

Rank	UTEN	BTAL
#1	-13.36% Aug 10, 2022 - Sep 5, 2025	-52.72% Mar 12, 2020 - Jun 22, 2026
#2	-4.57% Feb 27, 2026 - May 19, 2026	-29.52% Oct 3, 2011 - Mar 9, 2020
#3	-1.76% Nov 26, 2025 - Feb 12, 2026	-2.13% Sep 26, 2011 - Sep 29, 2011
#4	-1.41% Oct 22, 2025 - Nov 25, 2025	-1.62% Sep 13, 2011 - Sep 21, 2011
#5	-1.12% Sep 11, 2025 - Oct 10, 2025	-1.46% Mar 9, 2020 - Mar 12, 2020
#6	-0.27% Sep 8, 2025 - Sep 10, 2025	N/A
#7	-0.25% Feb 13, 2026 - Feb 23, 2026	N/A
#8	-0.17% Oct 16, 2025 - Oct 21, 2025	N/A
#9	-0.11% Feb 23, 2026 - Feb 26, 2026	N/A
#10	-0.08% Oct 14, 2025 - Oct 16, 2025	N/A

Correlation

Correlation between UTEN and BTAL is -0.62 which considered as a moderate negative correlation - the stocks show some tendency to move in opposite directions.

-0.62

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