BTAL vs QQQ
AGF US Market Neutral Anti-Beta Fund ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. BTAL offers more diversification with 402 holdings.
Side-by-Side Comparison
| Metric | BTAL | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 1.40% | 0.18% | |
| AUM | $294M | $496.3B | |
| Dividend Yield | 2.92% | 0.44% | |
| Holdings | 402 | 108 | |
| YTD Return | -15.59% | +19.52% | |
| 1Y Return | -26.22% | +26.68% | |
| 3Y Return (annualized) | -11.38% | +26.64% | |
| 5Y Return (annualized) | -4.75% | +15.36% | |
| Volatility (annualized) | 14.9% | 30.6% | |
| Max Drawdown | -52.7% | -83.0% | |
| Fund Family | AGFiQ | Invesco (US) | |
| Category | Alternative | Equity | |
| Inception | Sep 13, 2011 | Mar 10, 1999 |
BTAL vs QQQ Performance
AGF US Market Neutral Anti-Beta Fund ETF (BTAL) is a ETF from AGFiQ and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year BTAL returned -26.22% while QQQ returned +26.68%. Year to date, BTAL is down 15.59% versus a gain of 19.52% for QQQ.
Over three years, BTAL compounded at -11.38% per year against +26.64% for QQQ; over five years the annualized figures are -4.75% and +15.36% respectively. Across the full 15-year window we track, QQQ has the edge at +13.14% annualized vs -3.79%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 14.9% for BTAL. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -52.7% for BTAL and -83.0% for QQQ. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at -0.62. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
BTAL charges 1.40% per year while QQQ charges 0.18%. On a $10,000 position that is $140 vs $18 annually, a gap of $122 per year that compounds over a long holding period. On income, BTAL currently yields 2.92% against 0.44% for QQQ.
Holdings Overlap
BTAL and QQQ share 42 holdings out of 459 unique holdings combined, representing a 5.4% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, BTAL or QQQ?
BTAL has an expense ratio of 1.40% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $122 per year of difference.
Which performed better, BTAL or QQQ?
Over the past year BTAL returned -26.22% vs +26.68% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (15 years), BTAL annualized -3.79% vs +13.14% for QQQ. Past performance does not guarantee future results.
Which is riskier, BTAL or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 14.9% for BTAL. Worst drawdown: BTAL -52.7% vs QQQ -83.0%.
Should I hold both BTAL and QQQ?
BTAL and QQQ have a monthly-return correlation of -0.62, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BTAL and QQQ?
BTAL and QQQ share 42 common holdings with a 5.4% weight overlap. Combined, they hold 459 unique securities.
Which pays a higher dividend, BTAL or QQQ?
BTAL yields 2.92% while QQQ yields 0.44%, so BTAL currently pays the higher dividend yield.
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