Cambria Global Asset Allocation ETF (GAA) Performance
GAA total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +10.4% since Dec 31, 2025
- 1 year
- +14.3% total return
- 5 years
- +6.5% a year
- 10 years
- +7.4% a year
- Since first price
- +6.6% a year since 2014
GAA trailing returns vs AGG, TLT, SPY
| Period | GAA total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | −0.8% | −0.8% | +0.9% | +1.5% | −1.0% |
| 3 months | +1.1% | +0.3% | −0.4% | −1.0% | +3.2% |
| 6 months | +2.1% | +0.7% | −1.5% | −3.8% | +7.8% |
| YTD | +10.4% | +7.8% | −1.0% | −3.4% | +12.3% |
| 1 year | +14.3% | +10.3% | −1.1% | −6.9% | +14.4% |
| 3 years | +53.3%+15.3%/yr | +36.7% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | +37.1%+6.5%/yr | +9.7% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| 10 years | +104.3%+7.4%/yr | +40.2% | +14.0%+1.3%/yr | −18.7%−2.0%/yr | +315.9%+15.3%/yr |
| Since inceptionDec 10, 2014 | +114.1%+6.6%/yr | +40.8% | — | — | — |
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: GAA vs AGG
From Dec 10, 2014: GAA grew to $21,408, AGG to $12,098.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
GAA returns by calendar year
8 of 11 full years positive. Best 2025 (+18.8%), worst 2022 (−8.5%). 2026 is year to date.
GAA annual returns table
| Year | GAA | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | +10.4% | −5.8% | −1.0% | −3.4% | +12.3% |
| 2025 | +18.8% | −7.2% | +7.2% | +4.3% | +17.7% |
| 2024 | +6.7% | −4.5% | +1.3% | −8.1% | +24.9% |
| 2023 | +7.7% | −8.7% | +5.7% | +2.8% | +26.2% |
| 2022 | −8.5% | −17.5% | −13.0% | −31.2% | −18.2% |
| 2021 | +11.2% | −5.9% | −1.8% | −4.6% | +28.7% |
| 2020 | +9.1% | −26.6% | +7.5% | +18.2% | +18.3% |
| 2019 | +15.1% | −3.2% | +8.5% | +14.1% | +31.2% |
| 2018 | −7.1% | −12.1% | +0.1% | −1.6% | −4.6% |
| 2017 | +15.1% | −2.4% | +3.6% | +9.2% | +21.7% |
| 2016 | +9.0% | −4.3% | +2.4% | +1.2% | +12.0% |
| 2015 | −4.1% | −9.6% | +0.5% | −1.8% | +1.2% |
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.
GAA largest drawdowns
Now 2.7% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 17, 2020 | −26.6% | Mar 19, 2020 | Nov 10, 2020 | 2 months | 10 months |
| Oct 20, 2021 | −18.5% | Sep 26, 2022 | Mar 21, 2024 | 11 months | 2.4 years |
| May 15, 2015 | −12.6% | Jan 20, 2016 | Jul 22, 2016 | 8 months | 1.2 years |
| Jan 26, 2018 | −12.1% | Dec 24, 2018 | Oct 24, 2019 | 11 months | 1.7 years |
| Apr 2, 2025 | −7.2% | Apr 8, 2025 | May 12, 2025 | 6 days | 40 days |
| Feb 27, 2026 | −5.8% | Mar 20, 2026 | Apr 17, 2026 | 21 days | 49 days |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
GAA risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2014 |
|---|---|---|---|---|
| Annualized return | +14.2% | +7.0% | +7.3% | +6.7% |
| Volatility (annualized) | 8.3% | 9.8% | 9.8% | 9.5% |
| Sharpe ratio | 1.12 | 0.38 | 0.53 | 0.53 |
| Sortino ratio | 2.01 | 0.56 | 0.78 | 0.77 |
| Best month | +4.8% | +5.8% | +7.3% | +7.3% |
| Worst month | −4.3% | −6.8% | −12.9% | −12.9% |
| Best 12 months | +26.9% | +26.9% | +39.7% | +39.7% |
| Worst 12 months | +4.9% | −14.0% | −14.0% | −14.0% |
| Positive months | 69% | 60% | 64% | 62% |
| Beta vs S&P 500 | 0.41 | 0.47 | 0.52 | — |
| Correlation with S&P 500 | 0.62 | 0.75 | 0.80 | — |
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.
GAA rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 131 | −14.0% | +7.5% | +39.7% | 76% |
| 3-year (a year) | 107 | −0.9% | +5.7% | +15.1% | 99% |
| 5-year (a year) | 83 | +0.9% | +6.2% | +9.9% | 100% |
| 10-year (a year) | 23 | +4.9% | +7.0% | +8.4% | 100% |
Every holding period starting at a month-end since 2014. Returns for 3 years and longer are annualized.
GAA performance overview
Cambria Global Asset Allocation ETF (GAA) returned +14.3% over the past year and +7.4% a year over ten years, with distributions reinvested. Since its first recorded price in 2014 it has returned +6.6% a year, turning $10,000 into about $21,408. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −26.6%, from Jan 17, 2020 to Mar 19, 2020, and it took 8 months to get back to the old high. GAA finished 8 of its 11 full calendar years with a gain; the best year was 2025 (+18.8%) and the worst 2022 (−8.5%). Volatility has been 9.5% a year.
Related: GAA chart, GAA holdings, GAA dividends, GAA bond profile. See the GAA overview for the latest quote and fund facts.
GAA performance FAQ
What is the GAA return over the past year?
GAA returned +14.3% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 10.3%.
What is the average annual return of GAA?
GAA has returned +6.5% a year over 5 years, +7.4% a year over 10 years, +6.6% a year since December 10, 2014 (total return, distributions reinvested).
How much would $10,000 invested in GAA be worth?
$10,000 invested in GAA at its first recorded close on December 10, 2014 would be worth about $21,408 on October 23, 2026 with distributions reinvested.
What was the worst year for GAA?
The worst calendar year was 2022, with a total return of −8.5%. The best was 2025 at +18.8%.
What is the biggest drawdown of GAA?
The largest peak-to-trough decline was −26.6% between January 17, 2020 and March 19, 2020. It recovered to the old high on November 10, 2020, 8 months after the bottom.
How volatile is GAA?
Over the past 3 years GAA had an annualized volatility of 8.3% and a Sharpe ratio of 1.12 (excess return over 1–3 month T-bills per unit of risk).