Alpha Architect Tail Risk ETF (CAOS) Performance
CAOS total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +1.9% since Dec 31, 2025
- 1 year
- +1.6% total return
- 3 years
- +3.9% a year
- Since first price
- +4.9% a year since 2023
CAOS trailing returns vs SPY, QQQ, AGG
| Period | CAOS total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +1.1% | +1.1% | −1.0% | −5.0% | +0.9% |
| 3 months | +1.0% | +1.0% | +3.2% | +1.9% | −0.4% |
| 6 months | +1.1% | +1.1% | +7.8% | +8.4% | −1.5% |
| YTD | +1.9% | +1.9% | +12.3% | +15.1% | −1.0% |
| 1 year | +1.6% | +1.6% | +14.4% | +15.9% | −1.1% |
| 3 years | +12.2%+3.9%/yr | +12.2% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionMar 6, 2023 | +18.9%+4.9%/yr | +18.9% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: CAOS vs SPY
From Mar 6, 2023: CAOS grew to $11,887, SPY to $19,699.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
CAOS returns by calendar year
2 of 2 full years positive. Best 2024 (+5.3%), worst 2025 (+2.6%). 2026 is year to date.
CAOS annual returns table
| Year | CAOS | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +1.9% | −0.6% | +12.3% | +15.1% | −1.0% |
| 2025 | +2.6% | −3.6% | +17.7% | +20.8% | +7.2% |
| 2024 | +5.3% | −2.1% | +24.9% | +25.6% | +1.3% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
CAOS risk statistics
| Statistic | 3 years | Since 2023 |
|---|---|---|
| Annualized return | +3.7% | +4.6% |
| Volatility (annualized) | 1.6% | 2.0% |
| Sharpe ratio | -0.50 | 0.03 |
| Sortino ratio | -0.62 | 0.06 |
| Best month | +1.4% | +2.4% |
| Worst month | −1.2% | −1.2% |
| Best 12 months | +6.6% | +8.9% |
| Worst 12 months | +1.0% | +1.0% |
| Positive months | 75% | 76% |
| Beta vs S&P 500 | 0.03 | — |
| Correlation with S&P 500 | 0.23 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
CAOS rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 32 | +1.0% | +4.3% | +8.9% | 100% |
| 3-year (a year) | 8 | +3.5% | +3.8% | +5.5% | 100% |
Every holding period starting at a month-end since 2023. Returns for 3 years and longer are annualized.
CAOS performance overview
Alpha Architect Tail Risk ETF (CAOS) returned +1.6% over the past year, with distributions reinvested. Since its first recorded price in 2023 it has returned +4.9% a year, turning $10,000 into about $11,887. Over the same year S&P 500 (SPY) returned +14.4%.
Related: CAOS chart. See the CAOS overview for the latest quote and fund facts.
CAOS performance FAQ
What is the CAOS return over the past year?
CAOS returned +1.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 1.6%.
How much would $10,000 invested in CAOS be worth?
$10,000 invested in CAOS at its first recorded close on March 6, 2023 would be worth about $11,887 on October 23, 2026 with distributions reinvested.
What was the worst year for CAOS?
The worst calendar year was 2025, with a total return of +2.6%. The best was 2024 at +5.3%.
How volatile is CAOS?
Over the past 3 years CAOS had an annualized volatility of 1.6% and a Sharpe ratio of -0.50 (excess return over 1–3 month T-bills per unit of risk).