BTAL
AGFiQ U.S. Market Neutral Anti-Beta FundBTAL Fund Description
BTAL tracks an equal weighted index that takes long positions in low beta US stocks offset by short positions in high beta US stocks.
BTAL Factset Analytics Insight
BTAL works exclusively in the US equity space, going long low-beta stocks and short high-beta names. The fund’s market neutral approach explicitly aims for fully offsetting nominal long and short positions in contrast with some competing long/short ETFs that lean toward net long equity. The fund ranks stocks in each sector by beta and goes long bottom quintile and short top quintile. While individual stocks get equal weight, BTAL is sector-aware: sectors with greater long-only market cap get more long short exposure and vice versa. Overall, long low beta, short high beta might be expected to produce somewhat negative correlation to equities despite the equal dollar offsetting exposure.True market neutral exposure isn’t cheap, with borrowing costs and dividends working against the fund. While BTAL uses swaps at times, it typically takes direct short positions in stocks, rather than relying solely on derivatives for short exposure. The fund therefore 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.
BTAL Charts And Performance
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BTAL Summary Data
BTAL Portfolio Data
BTAL Index Data
BTAL Portfolio Management
BTAL Tax Exposures
BTAL Fund Structure
BTAL Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of BTAL. BTAL is rated a N/A out of 5.
BTAL Tradability
BTAL Asset Allocation
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BTAL Top 5 Holdings Short
BTAL Performance Statistics
BTAL Correlations (Daily Returns 12 Mo)
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