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AGF U.S. Market Neutral Anti-Beta Fund (BTAL) Holdings

For informational purposes only. Not financial advice.

Quick Answer

AGF U.S. Market Neutral Anti-Beta Fund (BTAL) has a last stored price of $11.91, as of the Oct 5, 2026 trading session. It has a 1.43% expense ratio and $364M in assets under management.

Holdings and weights below are as of Mar 15, 2026. In the stored portfolio snapshot, the largest listed holding is Lumentum Holdings Inc (LITE) at 0.98%, and the largest sector allocation is Technology at 17.2%.

Data Sources: Yahoo Finance · Financial Modeling Prep

AGF U.S. Market Neutral Anti-Beta Fund (BTAL) ETF — Price, Holdings & Analysis

ETF Overview

BTAL aims to deliver market-neutral returns by investing in U.S. equities with low beta characteristics while simultaneously shorting high beta equities within the same sectors. This strategy seeks to reduce overall market exposure and capitalize on the relative performance of low-volatility stocks versus high-volatility stocks. The fund constructs a dollar-neutral portfolio, primarily using securities from the Dow Jones U.S. Thematic Market Neutral Low Beta Index, which consists of the top 1,000 eligible U.S. securities by market capitalization, including REITs. The fund's top holdings include Lumentum Holdings Inc (0.98%), Moderna Inc (0.80%), and Micron Technology Inc (0.69%). Sector allocations are diverse, with significant exposure to Technology (17.2%), Financial Services (15.1%), and Industrials (14.8%). BTAL is designed for investors seeking to diversify their portfolios with an investment strategy that aims to provide returns uncorrelated to the broader market.

Risk Metrics

BTAL carries a few specific risks. Its expense ratio of 1.43% is significantly higher than the category average, which can create a substantial drag on performance over time. The fund's concentrated investment approach, focusing on low and high beta stocks within specific sectors, could lead to underperformance if those sectors experience adverse conditions. While the fund aims for market neutrality, its beta of -1.01 indicates an inverse correlation to the market, which can still result in losses if the market rises. Furthermore, the fund's country exposure is heavily weighted towards 'Other' at 69.6%, which may introduce additional risks depending on the specific countries included in that category. Past performance does not guarantee future results.
  • Beta: -1.01

Expense Ratio

1.43%

What does BTAL hold?

HoldingWeight
Lumentum Holdings Inc (LITE)0.98%
Moderna Inc (MRNA)0.80%
Micron Technology Inc (MU)0.69%
Pinnacle Financial Partners Inc (PNFP)0.69%
Ciena Corp (CIEN)0.68%
Western Digital Corp (WDC)0.67%
Texas Pacific Land Corp (TPL)0.66%
Coherent Corp (COHR)0.65%
Entegris Inc (ENTG)0.64%

This fund data is more than 45 days old; verify current holdings with the issuer.

How Is the Fund Allocated?

SectorWeight
Technology17.2%
Financial Services15.1%
Industrials14.8%
Consumer Cyclical13.7%
Healthcare10.9%
Real Estate6.1%
Consumer Defensive5.9%
Utilities5.0%
Basic Materials4.3%
Energy3.9%
Communication Services2.9%
CountryWeight
United States29.7%
Bermuda0.3%
Ireland0.5%
Other69.6%

Dividend Yield

0.00%

Questions & Answers

What is BTAL and what does it track?

BTAL, or the AGF U.S. Market Neutral Anti-Beta Fund, is an ETF that seeks to provide investment results that correspond generally to the price and yield performance of the Dow Jones U.S. Thematic Market Neutral Low Beta Index.

The fund invests primarily in long positions in low beta U.S. equities and short positions in high beta U.S.

What is the expense ratio for BTAL?

The expense ratio for BTAL is 1.43%. This means that for every $10,000 invested in the fund, $143 is deducted annually to cover the fund's operating expenses.

This expense ratio is significantly higher than the average expense ratio for alternative ETFs, which is around 0.44%.

What are the top holdings in BTAL?

As of 2026-03-15, the top holdings in BTAL are Lumentum Holdings Inc (0.98%), Moderna Inc (0.80%), and Micron Technology Inc (0.69%). Other significant holdings include Pinnacle Financial Partners Inc (0.69%) and Ciena Corp (0.68%).

These holdings reflect the fund's strategy of investing in a combination of long and short positions to achieve market neutrality.

Is BTAL a good long-term investment?

BTAL's suitability as a long-term investment depends on an investor's specific goals and risk tolerance. The fund's market-neutral strategy may provide diversification benefits and potentially reduce overall portfolio volatility.

However, the high expense ratio of 1.43% can detract from long-term returns. The fund's negative beta of -1.01 suggests it may perform inversely to the market.

How does BTAL compare to similar ETFs?

BTAL distinguishes itself from similar ETFs through its specific focus on market neutrality achieved by balancing long positions in low-beta stocks with short positions in high-beta stocks within the same sectors.

With an AUM of $0.36 billion, it's smaller than some of the larger alternative ETFs.

Does BTAL pay dividends?

According to the latest data, BTAL does not currently pay dividends. The fund's dividend yield is 0.00%. This is consistent with its investment strategy, which focuses on capital appreciation through market-neutral positioning rather than income generation.

Investors seeking dividend income may want to consider other ETFs that prioritize dividend payouts.

Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.

Data provided for informational purposes only.

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