Key stats
About AGF U.S. Market Neutral Anti-Beta Fund
Expense ratio
1.43%
Home page
Inception date
Sep 13, 2011
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
Finance
Cash
Stocks85.84%
Finance10.86%
Technology Services6.70%
Electronic Technology3.70%
Consumer Services2.80%
Health Technology2.43%
Utilities2.36%
Process Industries2.30%
Consumer Non-Durables2.27%
Retail Trade2.00%
Health Services1.97%
Distribution Services1.54%
Producer Manufacturing1.41%
Industrial Services1.34%
Energy Minerals1.01%
Commercial Services0.89%
Communications0.72%
Transportation0.47%
Consumer Durables0.45%
Non-Energy Minerals0.44%
Bonds, Cash & Other14.16%
Cash102.19%
Miscellaneous−88.03%
Top 10 holdings
Dividends
Dividend payout history