- ISIN
- US1320618622
- CUSIP
- 132061862
- Issuer
- Cambria
- Inception Date
- Apr 5, 2017
- Region
- North America (U.S.)
- Category
- Volatility Hedged Equity
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $148M
Share Price Chart
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Performance
TAIL Performance Chart
Cambria Tail Risk ETF (TAIL) is down 6.5% since the beginning of the year. TAIL is currently trading at $11 per share. Investors who bought $1,000 worth of TAIL shares 5 years ago would now be looking at an investment worth $643.
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Returns By Period
Cambria Tail Risk ETF (TAIL) has returned -6.46% so far this year and -9.61% over the past 12 months.
Cambria Tail Risk ETF
- 1D
- -0.28%
- 1M
- -0.16%
- YTD
- -6.46%
- 6M
- -6.38%
- 1Y
- -9.61%
- 3Y*
- -5.57%
- 5Y*
- -8.44%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
TAIL Monthly Returns History
Based on dividend-adjusted daily data since Jun 13, 2017, TAIL's average daily return is -0.03%, while the average monthly return is -0.56%.
Historically, 35% of months were positive and 65% were negative. The best month was Mar 2020 with a return of +11.4%, while the worst month was Jan 2019 at -8.9%. The longest winning streak lasted 4 consecutive months, and the longest losing streak was 8 months.
On a daily basis, TAIL closed higher 44% of trading days. The best single day was Apr 4, 2025 with a return of +9.0%, while the worst single day was Apr 9, 2025 at -8.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.52% | 2.49% | 0.62% | -6.43% | -2.25% | -0.30% | -6.46% | ||||||
| 2025 | -1.43% | 3.26% | 3.64% | 8.32% | -4.31% | -0.91% | -1.33% | 0.17% | 0.23% | 0.13% | 0.04% | -1.88% | 5.48% |
| 2024 | -0.94% | -3.39% | -0.31% | -2.81% | -0.68% | 0.61% | 2.07% | 0.59% | 1.26% | -2.82% | -2.73% | -0.75% | -9.62% |
| 2023 | -2.55% | -2.15% | 1.55% | -0.48% | -2.19% | -4.27% | -1.33% | -1.34% | -1.23% | -0.58% | -1.52% | 2.06% | -13.29% |
| 2022 | -0.78% | 1.07% | -6.86% | 1.92% | -1.00% | 4.94% | -4.66% | -1.91% | 2.95% | -8.24% | -1.75% | 1.19% | -13.13% |
| 2021 | -0.19% | -4.09% | -4.78% | 0.05% | -0.43% | 0.25% | 1.66% | -1.47% | 0.32% | -3.78% | 1.94% | -2.80% | -12.81% |
Benchmark Metrics
Cambria Tail Risk ETF has an annualized alpha of 2.53%, beta of -0.62, and R2 of 0.61 versus S&P 500 Index. Calculated based on daily prices since June 13, 2017.
- This ETF tended to rise when S&P 500 Index fell (downside capture of -59.93%), but participation in market rallies was also limited (-35.84%) - a profile typical of counter-cyclical assets.
- This ETF generated an annualized alpha of 2.53% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Beta of -0.62 indicates this ETF moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 2.53%
- Beta
- -0.62
- R²
- 0.61
- Upside Capture
- -35.84%
- Downside Capture
- -59.93%
Expense Ratio
TAIL has an expense ratio of 0.59%, placing it in the medium range.
Return for Risk
Risk / Return Rank
TAIL ranks 1 for risk / return — in the bottom 1% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Cambria Tail Risk ETF (TAIL) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| TAIL | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.18 | ||
| Sortino ratioReturn per unit of downside risk | -4.39 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.37 | -0.55 |
| Calmar ratioReturn relative to maximum drawdown | -0.87 | 2.78 | -3.65 |
| Martin ratioReturn relative to average drawdown | -1.96 | 12.44 | -14.40 |
Dividends
Dividend History
Cambria Tail Risk ETF provided a 2.93% dividend yield over the last twelve months, with an annual payout of $0.31 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.31 | $0.33 | $0.39 | $0.48 | $0.23 | $0.09 | $0.07 | $0.31 | $0.35 | $0.21 |
Dividend yield | 2.93% | 2.88% | 3.48% | 3.74% | 1.50% | 0.49% | 0.36% | 1.58% | 1.52% | 0.91% |
Monthly Dividends
The table displays the monthly dividend distributions for Cambria Tail Risk ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.05 | $0.13 | ||||||
| 2025 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.11 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.14 | $0.33 |
| 2024 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.11 | $0.39 |
| 2023 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.12 | $0.48 |
| 2022 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.07 | $0.23 |
| 2021 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.02 | $0.09 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Cambria Tail Risk ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Cambria Tail Risk ETF was 52.36%, occurring on Jan 23, 2025. The portfolio has not yet recovered.
The current Cambria Tail Risk ETF drawdown is 51.70%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 bear market2025 | -52.36%Jan 2025 | 4y 9mo | — | 6y 2moApr 2020 - now |
2020 bear market2020 | -20.52%Jan 2020 | 1y 22d | 1mo 25d | 1y 2moDec 2018 - Mar 2020 |
Rate-hike selloffLate 2018 | -18.51%Oct 2018 | 1y 3mo | 2mo 22d | 1y 6moJun 2017 - Dec 2018 |
COVID crash2020 | -6.17%Mar 2020 | 2d | 7d | 9dMar 2020 - Apr 2020 |
COVID crash2020 | -4.24%Mar 2020 | 0s | 3d | 3dMar 2020 - Mar 2020 |
Drawdown Indicators
| TAIL | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.36% | -56.78% | +4.42% |
Max Drawdown (1Y)Largest decline over 1 year | -11.10% | -9.10% | -2.00% |
Max Drawdown (3Y)Largest decline over 3 years | -20.78% | -18.90% | -1.88% |
Max Drawdown (5Y)Largest decline over 5 years | -38.44% | -25.43% | -13.01% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -51.70% | -1.80% | -49.90% |
Average DrawdownAverage peak-to-trough decline | -29.22% | -10.71% | -18.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.90% | 2.03% | +2.87% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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