Is this considered a bad beat?

[kschellenger]

Result

http://twodimes.net/h/?z=1196157
pokenum -h ah 4h - ks qs -- th jh as
Holdem Hi: 990 enumerated boards containing As Jh Th
cards win %win lose %lose tie %tie EV
Ah 4h 388 39.19 598 60.40 4 0.40 0.394
Ks Qs 598 60.40 388 39.19 4 0.40 0.606

He's not that big of an underdog. It sucks, but not a bad beat.