AAEQ vs. CAOS

Last updated Jun 4, 2026

AAEQ (Alpha Architect US Equity 2 ETF) and CAOS (Alpha Architect Tail Risk ETF) are both exchange-traded funds - AAEQ is a Large Cap Blend Equities fund actively managed by Alpha Architect, while CAOS is a Options Trading fund actively managed by Alpha Architect. Both are actively managed. At a correlation of -0.40, they often move in opposite directions. AAEQ charges 0.15%/yr vs 0.63%/yr for CAOS.

Performance

AAEQ vs. CAOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alpha Architect US Equity 2 ETF (AAEQ) and Alpha Architect Tail Risk ETF (CAOS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AAEQ achieves a 8.91% return, which is significantly higher than CAOS's 0.82% return.

AAEQ

• 1D: -0.75%
• 1M: 4.79%
• YTD: 8.91%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CAOS

• 1D: 0.12%
• 1M: -0.09%
• YTD: 0.82%
• 6M: 0.69%
• 1Y: 1.88%
• 3Y*: 4.26%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AAEQ vs. CAOS - Yearly Performance Comparison

	2026 (YTD)	2025
AAEQ Alpha Architect US Equity 2 ETF	8.91%	-1.99%
CAOS Alpha Architect Tail Risk ETF	0.82%	-0.05%

Correlation

The correlation between AAEQ and CAOS is -0.40, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 11, 2025	-0.40

AAEQ vs. CAOS - Sectors Allocation Comparison

Sectors	AAEQ	CAOS
Technology	35.9%	33.1%
Financial Services	11.8%	12.4%
Communication Services	11.7%	10.4%
Consumer Cyclical	10.3%	10.0%
Healthcare	8.6%	9.6%
Industrials	7.9%	8.5%
Consumer Defensive	4.4%	5.4%
Energy	3.8%	4.1%
Utilities	2.4%	2.6%
Basic Materials	1.7%	1.9%
Real Estate	1.5%	2.0%

Return for Risk

AAEQ vs. CAOS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CAOS

CAOS Risk / Return Rank: 40
CAOS Sharpe Ratio Rank: 34
CAOS Sortino Ratio Rank: 37
CAOS Omega Ratio Rank: 39
CAOS Calmar Ratio Rank: 49
CAOS Martin Ratio Rank: 39

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AAEQ vs. CAOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alpha Architect US Equity 2 ETF (AAEQ) and Alpha Architect Tail Risk ETF (CAOS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	AAEQ	CAOS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.24	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.09	1.21	-0.12

Drawdowns

AAEQ vs. CAOS - Drawdown Comparison

The maximum AAEQ drawdown since its inception was -10.26%, which is greater than CAOS's maximum drawdown of -3.60%. Use the drawdown chart below to compare losses from any high point for AAEQ and CAOS.

Drawdown Indicators

	AAEQ	CAOS	Difference
Max Drawdown Largest peak-to-trough decline	-10.26%	-3.60%	-6.66%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.76%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-3.60%	—
Current Drawdown Current decline from peak	-0.75%	-1.07%	+0.32%
Average Drawdown Average peak-to-trough decline	-2.46%	-0.90%	-1.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.30%	—

Volatility

Volatility by Period

	AAEQ	CAOS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.26%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.03%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.72%	1.52%	+12.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.72%	4.26%	+9.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.72%	4.26%	+9.46%

AAEQ vs. CAOS - Expense Ratio Comparison

AAEQ has a 0.15% expense ratio, which is lower than CAOS's 0.63% expense ratio.

Dividends

AAEQ vs. CAOS - Dividend Comparison

AAEQ's dividend yield for the trailing twelve months is around 0.09%, while CAOS has not paid dividends to shareholders.

Position	TTM	2025
AAEQ Alpha Architect US Equity 2 ETF	0.09%	0.10%
CAOS Alpha Architect Tail Risk ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both AAEQ and CAOS in my portfolio?

AAEQ and CAOS have a correlation of -0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AAEQ or CAOS?

On fees, AAEQ is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AAEQ or CAOS?

AAEQ is cheaper with a 0.15% expense ratio, compared with 0.63% for CAOS.

Which ETF pays a higher dividend yield, AAEQ or CAOS?

AAEQ has the higher dividend yield at 0.09%, compared with 0.00% for CAOS.

What is the main difference between AAEQ and CAOS?

AAEQ is categorized as Large Cap Blend Equities, while CAOS is Options Trading. Their fees differ too: 0.15% for AAEQ and 0.63% for CAOS.