Key stats
About AGF U.S. Market Neutral Anti-Beta Fund
Home page
Inception date
Sep 13, 2011
Structure
Open-Ended Fund
Replication method
Physical
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
AGF Investments LLC
Distributor
Foreside Fund Services LLC
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.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Cash
Stocks67.58%
Finance8.95%
Technology Services6.80%
Consumer Non-Durables3.08%
Electronic Technology2.87%
Health Technology2.86%
Consumer Services2.52%
Process Industries2.52%
Utilities1.99%
Transportation1.86%
Industrial Services1.48%
Energy Minerals1.22%
Health Services1.00%
Distribution Services0.98%
Commercial Services0.94%
Communications0.94%
Retail Trade0.93%
Producer Manufacturing0.88%
Consumer Durables−0.01%
Non-Energy Minerals−0.74%
Bonds, Cash & Other32.42%
Cash95.83%
ETF−0.06%
Miscellaneous−63.35%
Top 10 holdings
Dividends
Dividend payout history
Assets under management (AUM)
Fund Flows
Frequently Asked Questions
BTAL last dividends amounted to 0.64 USD. The year before, the issuer paid 1.04 USD in dividends, which shows a 61.41% decrease.
BTAL assets under management is 303.12 M USD. It's fallen 22.11% over the last month.
BTAL fund flows account for 103.86 M USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
Yes, BTAL pays dividends to its holders with the dividend yield of 1.13%. The last dividend (Jan 2, 2025) amounted to 0.64 USD. The dividends are paid annually.
BTAL shares are issued by AGF Management Ltd. under the brand AGF. The ETF was launched on Sep 13, 2011, and its management style is Active.
BTAL expense ratio is 1.43% meaning you'd have to pay 1.43% of your investment to help manage the fund.
BTAL follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
BTAL invests in cash.
BTAL price has fallen by −6.26% over the last month, and its yearly performance shows a −2.98% decrease. See more dynamics on BTAL price chart.
NAV returns, another gauge of an ETF dynamics, have fallen by −5.91% over the last month, showed a −8.55% decrease in three-month performance and has increased by 0.50% in a year.
NAV returns, another gauge of an ETF dynamics, have fallen by −5.91% over the last month, showed a −8.55% decrease in three-month performance and has increased by 0.50% in a year.
BTAL trades at a premium (0.31%) meaning the ETF is trading at a higher price than the calculated NAV.