Barclays ETN+ Shiller Capet ETN (CAPE) Performance
CAPE total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +0.3% since Dec 31, 2025
- 1 year
- +0.3% total return
- 3 years
- +13.0% a year
- Since first price
- +6.8% a year since 2022
CAPE trailing returns vs SPY, QQQ, AGG
| Period | CAPE total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +2.4% | +1.8% | −1.0% | −5.0% | +0.9% |
| 3 months | +0.4% | −0.2% | +3.2% | +1.9% | −0.4% |
| 6 months | −0.5% | −1.4% | +7.8% | +8.4% | −1.5% |
| YTD | +0.3% | −0.8% | +12.3% | +15.1% | −1.0% |
| 1 year | +0.3% | −1.3% | +14.4% | +15.9% | −1.1% |
| 3 years | +44.1%+13.0%/yr | +38.1% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionApr 5, 2022 | +35.0%+6.8%/yr | +27.5% | — | — | — |
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: CAPE vs SPY
From Apr 5, 2022: CAPE grew to $13,503, SPY to $17,897.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
CAPE returns by calendar year
3 of 3 full years positive. Best 2023 (+27.6%), worst 2025 (+9.1%). 2026 is year to date.
CAPE annual returns table
| Year | CAPE | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +0.3% | −9.7% | +12.3% | +15.1% | −1.0% |
| 2025 | +9.1% | −13.6% | +17.7% | +20.8% | +7.2% |
| 2024 | +14.4% | −6.4% | +24.9% | +25.6% | +1.3% |
| 2023 | +27.6% | −10.4% | +26.2% | +54.9% | +5.7% |
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.
CAPE largest drawdowns
Now 4.4% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Apr 20, 2022 | −22.1% | Oct 12, 2022 | Jul 19, 2023 | 6 months | 1.2 years |
| Nov 29, 2024 | −14.3% | Apr 8, 2025 | Jul 1, 2025 | 4 months | 7 months |
| Jul 31, 2023 | −10.3% | Oct 27, 2023 | Dec 1, 2023 | 3 months | 4 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
CAPE risk statistics
| Statistic | 3 years | Since 2022 |
|---|---|---|
| Annualized return | +10.7% | +7.6% |
| Volatility (annualized) | 12.9% | 16.8% |
| Sharpe ratio | 0.52 | 0.28 |
| Sortino ratio | 0.79 | 0.41 |
| Best month | +8.8% | +12.0% |
| Worst month | −7.3% | −10.6% |
| Best 12 months | +28.8% | +28.8% |
| Worst 12 months | −3.8% | −3.8% |
| Positive months | 67% | 60% |
| Beta vs S&P 500 | 0.79 | — |
| Correlation with S&P 500 | 0.76 | — |
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.
CAPE rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 43 | −3.8% | +12.2% | +28.8% | 93% |
| 3-year (a year) | 19 | +9.7% | +14.0% | +19.0% | 100% |
Every holding period starting at a month-end since 2022. Returns for 3 years and longer are annualized.
CAPE performance overview
Barclays ETN+ Shiller Capet ETN (CAPE) returned +0.3% over the past year, with distributions reinvested. Since its first recorded price in 2022 it has returned +6.8% a year, turning $10,000 into about $13,503. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −22.1%, from Apr 20, 2022 to Oct 12, 2022, and it took 9 months to get back to the old high. CAPE finished 3 of its 3 full calendar years with a gain; the best year was 2023 (+27.6%) and the worst 2025 (+9.1%). Volatility has been 16.8% a year.
Related: CAPE chart, CAPE dividends. See the CAPE overview for the latest quote and fund facts.
CAPE performance FAQ
What is the CAPE return over the past year?
CAPE returned +0.3% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 1.3%.
How much would $10,000 invested in CAPE be worth?
$10,000 invested in CAPE at its first recorded close on April 5, 2022 would be worth about $13,503 on October 23, 2026 with distributions reinvested.
What was the worst year for CAPE?
The worst calendar year was 2025, with a total return of +9.1%. The best was 2023 at +27.6%.
What is the biggest drawdown of CAPE?
The largest peak-to-trough decline was −22.1% between April 20, 2022 and October 12, 2022. It recovered to the old high on July 19, 2023, 9 months after the bottom.
How volatile is CAPE?
Over the past 3 years CAPE had an annualized volatility of 12.9% and a Sharpe ratio of 0.52 (excess return over 1–3 month T-bills per unit of risk).