BTAL

AGFiQ U.S. Market Neutral Anti-Beta Fund
*Unless otherwise stated, data provided by FactSet.

BTAL Fund Description

BTAL is an actively managed fund that takes long positions in low beta US stocks, offset by short positions in high beta US stocks.

BTAL Factset Analytics Insight

BTAL actively manages its portfolio of stocks through a market neutral strategy. The fund targets the top 1,000 by market-cap, including REITs, in the Dow Jones U.S. Index. The fund’s market neutral approach aims to offset nominal long and short positions. BTAL ranks stocks in each sector by beta, and individual stocks get equal weight within their sectors. Overall, long low beta and short high beta might be expected to negatively correlate to equities despite the equal dollar offsetting exposure. While BTAL uses swaps at times, it typically takes direct short positions in stocks rather than relying solely on derivatives for short exposure. Therefore, the fund reports short interest costs in its expense ratio, something that purely swaps-based long-short funds don’t have to do, although short interest expense hits the bottom line in either case. Prior to Feb. 14, 2022, the fund tracked the Dow Jones U.S. Thematic Market Neutral Low Beta Index following the same strategies.

PERFORMANCE [as of 05/18/22] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
BTAL -- -- -- -- -- -- --
BTAL (NAV) 6.84% 11.42% 15.65% 21.30% -2.14% 0.42% -1.35%
No Underlying Index -- -- -- -- -- -- --
N/A -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

BTAL Summary Data

AGF
AGFiQ
09/13/11
Open-Ended Fund
2.53%
$153.80M
$3.76M
0.27%

BTAL Portfolio Data

Long/Short Equity
1.01%
N/A
403

BTAL Index Data

No Underlying Index
Proprietary
Proprietary
N/A

BTAL Portfolio Management

2.53%
--
--
--

BTAL Tax Exposures

20.00% / 39.60%
--
Ordinary income
No

BTAL Fund Structure

Open-Ended Fund
Yes
No
-- / --
N/A
N/A
Low
Daily

BTAL Factset Analytics Block Liquidity

As of 05/19/22
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of BTAL. BTAL is rated a 5 out of 5.

BTAL Tradability

196,797
$3.76M
117,842
$2.31M
0.27%
$0.05
-0.01%
1.53% / -0.65%
None
100.00%
50,000
2.36
0.17%
0.00%
0
$20.49
5

BTAL Asset Allocation

Short
Long
Net
--
--

0.00%

--
--

0.00%

--
--

0.00%

--
--

0.00%

BTAL Top 5 Holdings Long

88.66%
1.60%

BTAL Top 5 Holdings Short

-64.20%

BTAL Performance Statistics

21.30%
8.00%
-3.84%
0.08
0.13
0.00
0.34

BTAL Correlations (Daily Returns 12 Mo)

-0.71
0.00
-0.12