BTAL
AGF U.S. Market Neutral Anti-Beta Fund
7월 28일 3:59 PM ET (한국 7/29 04:59)
$12.18
+0.00 +0.00%
🌙 7월 28일 4:04 PM ET (한국 7/29 05:04)
$12.38
+0.01 ▲ +0.08%
BTAL ETF is analyzed across 10 metrics including expense ratio, holdings, sector allocation, dividends, RSI, and MACD.
Total Expense Ratio
1.4%
Annual operating cost
Net Assets (AUM)
$302M
약 4131억원
Holdings
402 items
Dividend Yield
2.94%
Management Style
Active
| Category | US Equities - Factor & Thematic | Asset Type | Equities (Stocks) | Return% 1Y | -24.87% | Total Holdings | 402 | Perf Week | 0.58% |
| ETF Type | US Equities | Active/Passive | Active | Return% 3Y | -8.36% | AUM | $302M | Perf Month | 9.43% |
| Expense | 1.4% | NAV | $12.16 | Return% 5Y | -4.45% | 52W High | -29.84% | Perf Quarter | -1.38% |
| Dividend TTM | $0.36 (2.94%) | Div Gr. 3/5Y | 18.9% - | Return% 10Y | -4.6% | 52W Low | 12.15% | Perf Half Y | -13.37% |
| Flows% 1M | -0.64% | Flows% YTD | 27.2% | Return% SI | -3.63% | Volatility(W/M) | 1.72% 1.86% | Perf YTD | -15.36% |
| SMA20 | 3.74% | SMA50 | 4.14% | SMA200 | -9.98% | RSI (14) | 60.09 | Beta | -0.64 |
| IPO | 2011/9/13 | Prev Close | $12.18 | Perf Year | -26.36% | Avg Volume | 0.66M | Price | $12.18 |
AGF U.S. Market Neutral Anti-Beta Fund (BTAL) Investment Analysis
ETF Overview
AGF U.S. Market Neutral Anti-Beta Fund · US Equities - Factor & Thematic
액티브 운용 — 펀드매니저가 종목을 선별해 초과수익 추구
2011년 상장, 15년 운영 중.
The AGF U.S. Market Neutral Anti-Beta Fund seeks to provide ongoing negative beta exposure to the U.S. equity market. The ETF takes long positions primarily in low-beta U.S. stocks and short positions primarily in high-beta U.S. stocks, following a dollar-neutral approach within each sector. The portfolio is constructed with weights closely mirroring those of the constituents of the Dow Jones U.S. Thematic Market Neutral Low Beta Index. The index universe is composed of the top 1,000 eligible stocks by market capitalization, including REITs.
📘 BTAL ETF 자세히 알아보기 →U.S.equityREITslong-short
- 규모
- $302M 약 4131억원
- 운용사
- -
- 운용 방식
- 액티브 (운용사 재량)
- 상장일
- 2011년
Cost Efficiency
Annual Expense Ratio · Category Rank · Long-Term Cost Impact
High-cost ETF — 1.4% annually
Costs are notably higher than the category average. Long-term holdings can erode returns.
Effective Annual Expense Ratio (Net Expense Ratio)
하위 5%1.4%
My positionBottom 5%
Low range Average High range
Actual Cost Simulation by Investment Amount
$100.0M
Annual Expense Ratio
$1.4M
Pay $1.0M more per year vs. category average
Category Median Annual Cost
$400K
Based on expense ratio of 0.40%
10-Year Cumulative Expense Ratio (Long-term simulation assuming 7% annual market growth)
$24.3M
25.1% of returns you could have earned goes to the fund manager due to fees
Because the expense ratio takes a slice of your assets every year, costs compound over 10 years and result in far greater losses than a simple sum (annual fee × 10). The 7% annual return assumption is based on the S&P 500's long-term average.
Defaults shown against $100K baseline portfolio. Adjust the slider to update the amount in real time.
Cheaper alternatives in the same category
VOTE
TCW Transform 500 ETF
0.05%
-1.35%p annually
USCA
Xtrackers MSCI USA Climate Action Equity ETF
0.07%
-1.33%p annually
LRGF
iShares U.S. Equity Factor ETF
0.08%
-1.32%p annually
* A lower fee does not necessarily mean a better ETF. Consider the tracked index, liquidity, and tax treatment as well.
Long-Term Performance
1-year · 3-year · 5-year · 10-year returns · vs. benchmark · drawdown defense
Lower-tier returns in its category
Long-term returns trail the category average by a wide margin.-42.7%p vs. benchmark (SPY) over 1Y.
ℹ️ The "1Y·3Y·5Y·10Y" periods below represent annualized returns (CAGR) measured backward from today. Example: "3Y +12%" means the investment grew at a compounded 12% per year over the past three years.
If you had invested 10 year(s) ago
$100.0M
Today's value
$62.4M
→
Total loss
$-37,557,002
Annualized -4.6%
1 Year
2025.07 ~ 2026.07
Annualized -24.87%
하위 5%Trailed the benchmark by 42.7%p annually
My positionBottom 5%
Low range Average High range
3 Years
2023.07 ~ 2026.07
Annualized -8.36% Cumulative -23.0%
하위 5%Trailed the benchmark by 27.4%p annually
My positionBottom 5%
Low range Average High range
5 Years
2021.07 ~ 2026.07
Annualized -4.45% Cumulative -20.4%
하위 5%Trailed the benchmark by 17.3%p annually
My positionBottom 5%
Low range Average High range
10Y
2016.07 ~ 2026.07
Annualized -4.60% Cumulative -37.6%
하위 5%Trailed the benchmark by 19.5%p annually
My positionBottom 5%
Low range Average High range
10Y Cumulative Total Return Curve
2016-07-28 start, based on a 100M KRW base — read the curve values directly as units of 100M KRW (e.g., 308 → 3.08억 / 308M KRW). Both this ETF and the benchmark are rebased to 100 on the same start date for comparison.
BTAL · Price Only BTAL · Price + Cumulative Dividends BTAL · Dividend Reinvested S&P 500 (SPY)
50
150
250
350
450
ℹ️ Price Only: Excludes dividends and tracks pure stock price only. Covered-call and high-dividend ETFs often show a flat or declining line on this view, which is meaningful from a "principal preservation" standpoint. Price + Cumulative Dividend: Share count stays the same and received dividends are accumulated as cash. Closely matches your actual account total assets. Reinvested: Dividends are immediately used to buy additional shares (adjClose-based, the industry standard for total return). The wider the gap between the three lines, the easier it is to gauge the effectiveness of the dividend strategy.
Annual Return Comparison
ETF returns vs S&P 500 (SPY) by calendar year
BTAL S&P 500 (SPY)
+40%
0%
−40%
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026 YTD
ℹ️ Returns from January 1 to December 31 of each year. The current year (2026) column is dimmed to indicate YTD (incomplete). If blue is higher than gray, the ETF outperformed the benchmark in that year.
Win rate vs S&P 500 (SPY)
2 / 9Y
Lags behind benchmark (22%)
+ 2026 YTD: Behind (-13.3% vs 8.5%)
2017 ✗
2018 ✓
2019 ✗
2020 ✗
2021 ✗
2022 ✓
2023 ✗
2024 ✗
2025 ✗
2026 ✗ YTD
ℹ️ Number of winning years versus S&P 500 (SPY) within a completed calendar year (1/1–12/31). The current year (YTD) is reported separately.
Downside Capture
-112%
Falls less than the benchmark in drawdowns — strong downside protection
<85% (Defend) 85~110% (Track) >110% (Lag)
ℹ️ Average % drop of this ETF when S&P 500 (SPY) is −1%. Based on daily returns over the past 3 years (only days where the benchmark is negative).
Risk Profile
Volatility · Beta · Max Drawdown · Sharpe · Drawdown Recovery History
Overall Risk Grade
Moderate Risk
Volatility is around market average. Be prepared for losses of roughly -30% to -40% in major downturns.
Beta (market sensitivity)
상위 5%-0.64
If the market rises +10% -6.4%
If the market falls -10% +6.4%
My positionTop 5%
Low range Average High range
ℹ️ A beta of 1.0 moves in line with the market. Above 1 means it moves more than the market; below 1 means less.
Average daily range (last 1 month)
하위 25%±1.86%
S&P 500 typically ±1.0~1.3% · Bond funds ±0.3% · Leveraged ETFs ±3% or more
Annual volatility trend (past 10 years)
ℹ️ This ETF's average daily price swing. 1% means "on average, moves about ±1% per day." The rolling curve below shows the annualized volatility (long-term standard measure) over time.
Max Drawdown · Past 10 years
-52.7%
2015-07-31 Worst -51% 2026-07-01
ℹ️ Maximum drawdown is the largest peak-to-trough decline in the past. It represents the worst-case loss a long-term investor must psychologically endure.
Sharpe Ratio (Risk-Adjusted Return)
-0.36
Poor — Underperforms the risk-free rate
ℹ️ Annualized return minus the risk-free rate (3% annualized), divided by annualized volatility. A value above 1.0 is generally considered good risk-adjusted performance.
Estimated Monthly Maximum Loss (VaR 95%)
-7.9%
Historically, monthly losses exceeding this figure occurred only5%of the time.
ℹ️ A statistical estimate meaning "with 95% probability, monthly losses will not exceed this amount." The remaining 5% corresponds to crisis-level events such as financial crises or pandemics.
Dividend Analysis
Yield · Dividend history · After-tax income calculator
Dividend-paying ETF — 2.94% annually
An ETF that provides consistent dividend income.
배당수익률
2.94%
주당 배당
$0.36
연간 기준
5년 성장률
-
지급 주기
연배당
12월
연도별 배당 총액 추이
주당 배당금을 연 단위로 합산한 금액입니다. 막대가 우상향이면 매년 배당이 늘어나고 있다는 뜻입니다.
$0.43
2011
$0.00 -99.8%
2012
$0.09 +8500.0%
2018
$0.20 +127.9%
2019
$0.21 +8.7%
2022
$1.04 +388.7%
2023
$0.65 -38.0%
2024
$0.36 -44.5%
2025
$X.XX 그 해 총 배당금 +X% 전년 대비 증가 -X% 감소
최근 배당 이력 총 8건
아래로 스크롤하면 과거 배당 이력을 볼 수 있습니다.
배당락일
주당 금액
지급일
당시 수익률
2025-12-30
$0.358
—
6.99%
2024-12-30
$0.645
—
3.48%
2023-12-27
$1.04
—
7.50%
2022-12-28
$0.213
—
0.99%
2019-12-27
$0.196
—
1.28%
2018-12-27
$0.086
—
0.39%
2012-09-14
$0.001
—
1.98%
2011-12-20
$0.427
—
1.78%
* "배당락일"은 배당받으려면 이 날 이전에 주식을 보유해야 하는 기준일입니다. 지급일·당시 수익률은 일부 종목에서 데이터가 없을 수 있습니다.
💰 내가 $100K 투자한다면
연간 배당금 (세후) $3K
5년 누적 (세후) $13K
* 환율 1 가정, 배당소득세 15% 반영. 5년 누적은 배당 성장률 연 0% 가정.
* Qualified dividend middle-bracket approximation. Actual rate varies by total income.
Overall investment appeal
What this ETF fits best — strengths, weaknesses, and target investor profile
Warrants a closer look Several metrics show warning signs. Compare it with similar ETFs before deciding.
🎯 목적별 적합도
내가 이 ETF를 어떤 목적으로 활용할 수 있는지 확인하세요.
낮음
낮음
낮음
낮음
이런 분에게 어울려요
Investors who believe in active strategies
✅ 강점
뚜렷한 강점이 드러나지 않아요.
⚠️ 약점·주의사항
- 💸Very high expense ratio — 1.4% annually
- 📈Long-term returns are well below peers
- ⚠️Volatility is above average
- 🎯Trails benchmark by -17.3%p annually
Portfolio Composition
What's actually inside — sector weights and top holdings
403개 종목에 넓게 분산
개별 종목 리스크가 분산되어 있어요.
ℹ️ 왜 구성을 봐야 하나요?
ETF의 실제 성과는 담고 있는 종목과 섹터에서 나와요. 이름이 "S&P 500"이라도 기술주 비중이 유난히 높을 수 있고, "배당주 ETF"라도 몇몇 대형주에 쏠려 있을 수 있어요. 라벨보다 실제 구성을 확인하는 게 중요해요.
🔬 집중도 한눈에 보기
총 보유종목
403개
상위 10개 비중
5.0%
최대 단일 종목
0.87%
집중도(HHI)
27
낮음 (분산)
🥧 섹터 비중
Technology 3.3%
Consumer Cyclical 0.5%
Utilities 0.1%
Consumer Defensive 0.1%
Basic Materials -0.0%
Healthcare -0.4%
Industrials -0.6%
Communication Services -0.6%
Financial -0.8%
Real Estate -0.8%
Energy -0.9%
📋 상위 보유 종목 Top 10 Top 10이 전체의 5.0% 차지
티커 옆의 점 색상 = 섹터 구분 (섹터 차트와 동일 색상)
#1 - N/A 0.87%
Category Peers
Category: US Equities - Factor & Thematic
같은 카테고리 6종 중 AUM 6/6위 · 보수율 6/6위
카테고리: US Equities - Factor & Thematic
ℹ️ 왜 비교해야 하나요?
같은 카테고리 ETF끼리는 보수율·규모(AUM)·배당률을 비교해 볼 가치가 있어요. 보수율은 낮을수록 장기 수익에 유리하고, AUM이 크면 운용 안정성이 높아요. ▲ 표시는 BTAL보다 유리, ▼ 표시는 BTAL보다 불리를 뜻해요.
| 티커 | ETF명 | 보수율 | AUM | 보유종목 | 배당률 | YTD | 1년 |
|---|---|---|---|---|---|---|---|
| BTAL | AGF U.S. Market Neutral Anti-Beta Fund | 1.4% | $302M | 402 | 2.94% | -15.36% | -26.36% |
| iShares U.S. Equity Factor Rotation Active ETF | 0.26% ▲ | $38.3B ▲ | 229 | 0.80% ▼ | - | +19.40% ▲ | |
| iShares U.S. Thematic Rotation Active ETF | 0.57% ▲ | $6.4B ▲ | 245 | 0.26% ▼ | - | +15.91% ▲ | |
| ARK Innovation ETF | 0.75% ▲ | $5.6B ▲ | 48 | - | - | -5.55% ▲ | |
| JPMorgan Small & Mid Cap Enhanced Equity ETF | 0.24% ▲ | $2.9B ▲ | 658 | 0.94% ▼ | - | +25.13% ▲ | |
| Dimensional US Sustainability Core 1 ETF | 0.15% ▲ | $2.2B ▲ | 1940 | 0.83% ▼ | - | +15.63% ▲ |
AUM 내림차순 정렬 · ▲ BTAL보다 유리 · ▼ BTAL보다 불리
Leveraged & Covered Call ETFs on the Same Theme
ETFs that approach the same theme with a different strategy
3 ETFs tracking the same theme as BTAL using leveraged or covered call strategies (Leverage 2 · Covered Call 1)
Not direct derivatives of BTAL, but ETFs that cover the same theme via a different strategy.
ℹ️ Which ETFs are included?
Among ETFs whose theme (category or sector) overlaps with BTAL, some use special strategies. Leveraged ETFs aim for 2–3× the daily move, Inverse ETFs seek opposite-direction returns, and Covered Call ETFs generate monthly income from option premiums.
⚠️ Caution: Long-Term Holding
Leveraged and inverse ETFs track only the daily return. With high volatility, holding them for longer periods causes cumulative volatility decay—returns diverge further from the underlying index. They are meant for short-term trading.
Leverage 2 ETFs that amplify the same theme by 2-3x (high volatility)
Covered Call & Options 1 ETFs that add a monthly dividend via covered calls on the same theme
FAQ
What kind of ETF is BTAL?
BTAL is an ETF in the US Equities - Factor & Thematic category.
How many holdings does BTAL have?
BTAL holds a total of 402 securities, with an AUM of approximately $302M.
Does BTAL pay dividends (distributions)?
BTAL's distribution yield is approximately 2.94%.
What is the 52-week high and low for BTAL?
BTAL has recorded a 52-week high of $17.36 and a low of $10.86.
면책조항: 본 콘텐츠는 참고 자료이며 투자 권유가 아닙니다. 모든 투자의 책임은 투자자 본인에게 있습니다.