AIA vs. CAOS
AIA (iShares Asia 50 ETF) and CAOS (Alpha Architect Tail Risk ETF) are both exchange-traded funds - AIA is a Asia Pacific Equities fund tracking the S&P Asia 50 Index, while CAOS is a Options Trading fund actively managed by Alpha Architect. AIA is passively managed, while CAOS is actively managed. Over the past 3 years, AIA returned 32.07%/yr vs 3.60%/yr for CAOS. At a 0.00 correlation, their price movements are largely independent. AIA charges 0.50%/yr vs 0.63%/yr for CAOS.
Performance
AIA vs. CAOS - Performance Comparison
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Returns By Period
In the year-to-date period, AIA achieves a 36.49% return, which is significantly higher than CAOS's 0.80% return.
AIA
- 1D
- -2.81%
- 1M
- -6.64%
- 6M
- 25.90%
- YTD
- 36.49%
- 1Y
- 63.00%
- 3Y*
- 32.07%
- 5Y*
- 10.80%
- 10Y*
- 13.33%
CAOS
- 1D
- -0.04%
- 1M
- 0.13%
- 6M
- 0.30%
- YTD
- 0.80%
- 1Y
- 1.82%
- 3Y*
- 3.60%
- 5Y*
- —
- 10Y*
- —
AIA vs. CAOS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
AIA iShares Asia 50 ETF | 36.49% | 47.79% | 20.26% | -2.69% |
CAOS Alpha Architect Tail Risk ETF | 0.80% | 2.55% | 5.33% | 7.43% |
Correlation
The correlation between AIA and CAOS is -0.31, 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 (1Y) Calculated over the trailing 1-year period | -0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since Mar 6, 2023 | 0.00 |
The correlation between AIA and CAOS shifts across timeframes, from -0.31 (1 year) to 0.00 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
AIA vs. CAOS — Risk / Return Rank
AIA
CAOS
AIA vs. CAOS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Asia 50 ETF (AIA) 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.
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.
| AIA | CAOS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.88 | ||
| Sortino ratioReturn per unit of downside risk | +0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.24 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 4.48 | 2.41 | +2.06 |
| Martin ratioReturn relative to average drawdown | 13.55 | 5.44 | +8.12 |
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Drawdowns
AIA vs. CAOS - Drawdown Comparison
The maximum AIA drawdown since its inception was -60.89%, which is greater than CAOS's maximum drawdown of -3.89%. Use the drawdown chart below to compare losses from any high point for AIA and CAOS.
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Drawdown Indicators
| AIA | CAOS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.89% | -3.89% | -57.00% |
Max Drawdown (1Y)Largest decline over 1 year | -14.15% | -0.76% | -13.39% |
Max Drawdown (3Y)Largest decline over 3 years | -21.64% | -3.60% | -18.04% |
Max Drawdown (5Y)Largest decline over 5 years | -48.18% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -54.64% | — | — |
Current DrawdownCurrent decline from peak | -11.70% | -1.08% | -10.62% |
Average DrawdownAverage peak-to-trough decline | -16.62% | -0.92% | -15.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.66% | 0.34% | +4.32% |
Volatility
AIA vs. CAOS - Volatility Comparison
iShares Asia 50 ETF (AIA) has a higher volatility of 13.25% compared to Alpha Architect Tail Risk ETF (CAOS) at 0.48%. This indicates that AIA's price experiences larger fluctuations and is considered to be riskier than CAOS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AIA | CAOS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.25% | 0.48% | +12.77% |
Volatility (6M)Calculated over the trailing 6-month period | 27.44% | 1.09% | +26.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.65% | 1.55% | +29.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.58% | 4.20% | +22.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.05% | 4.20% | +19.85% |
AIA vs. CAOS - Expense Ratio Comparison
AIA has a 0.50% expense ratio, which is lower than CAOS's 0.63% expense ratio.
Dividends
AIA vs. CAOS - Dividend Comparison
AIA's dividend yield for the trailing twelve months is around 1.61%, while CAOS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AIA iShares Asia 50 ETF | 1.61% | 2.50% | 2.78% | 2.07% | 2.59% | 1.54% | 1.11% | 2.24% | 2.49% | 1.45% | 2.29% | 2.88% |
CAOS Alpha Architect Tail Risk ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AIA and CAOS have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AIA has higher volatility (13.25%) compared to CAOS (0.48%). In terms of maximum drawdown, AIA dropped -60.89% vs CAOS's -3.89%.
On 3-year performance, AIA leads with 32.07% vs 3.60% for CAOS. On fees, AIA is cheaper at 0.50% per year. On volatility, CAOS has been the lower-risk option at 0.48%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, AIA has performed better with a 32.07% return vs 3.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AIA is cheaper with a 0.50% expense ratio, compared with 0.63% for CAOS.
AIA has the higher dividend yield at 1.61%, compared with 0.00% for CAOS.
AIA is categorized as Asia Pacific Equities, while CAOS is Options Trading. They also come from different issuers: iShares and Alpha Architect. Their fees differ too: 0.50% for AIA and 0.63% for CAOS.
AIA currently has the higher Sharpe Ratio (2.07 vs 1.19), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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