BLDG vs. TAIL

Last updated Jun 5, 2026

BLDG (Cambria Global Real Estate ETF) and TAIL (Cambria Tail Risk ETF) are both exchange-traded funds - BLDG is a REIT fund actively managed by Cambria, while TAIL is a Volatility Hedged Equity fund actively managed by Cambria. Both are actively managed. Over the past 5 years, BLDG returned 2.40%/yr vs -8.42%/yr for TAIL. At a correlation of -0.35, they often move in opposite directions. Both charge a 0.59% expense ratio.

Performance

BLDG vs. TAIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cambria Global Real Estate ETF (BLDG) and Cambria Tail Risk ETF (TAIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BLDG achieves a 6.82% return, which is significantly higher than TAIL's -6.35% return.

BLDG

• 1D: 0.82%
• 1M: 0.01%
• YTD: 6.82%
• 6M: 6.29%
• 1Y: 11.06%
• 3Y*: 9.14%
• 5Y*: 2.40%
• 10Y*: —

TAIL

• 1D: -0.19%
• 1M: -2.20%
• YTD: -6.35%
• 6M: -7.45%
• 1Y: -9.35%
• 3Y*: -5.78%
• 5Y*: -8.42%
• 10Y*: —

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

BLDG vs. TAIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BLDG Cambria Global Real Estate ETF	6.82%	4.26%	8.18%	1.76%	-14.66%	22.47%	15.37%
TAIL Cambria Tail Risk ETF	-6.35%	5.48%	-9.62%	-13.29%	-13.13%	-12.81%	-5.88%

Correlation

The correlation between BLDG and TAIL is -0.11, 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	-0.11
Correlation (3Y) Calculated over the trailing 3-year period	-0.17
Correlation (5Y) Calculated over the trailing 5-year period	-0.34
Correlation (All Time) Calculated using the full available price history since Sep 25, 2020	-0.35

Over the past year, the inverse relationship between BLDG and TAIL has weakened: their correlation has moved from -0.35 to -0.11, meaning they move in opposite directions less often than they have historically.

BLDG vs. TAIL - Sectors Allocation Comparison

Sectors	BLDG	TAIL
Real Estate	98.6%	1.9%
Financial Services	1.4%	11.8%
Basic Materials	-	1.8%
Communication Services	-	11.2%
Consumer Cyclical	-	10.1%
Consumer Defensive	-	4.9%
Energy	-	3.5%
Healthcare	-	8.5%
Industrials	-	8.3%
Technology	-	35.6%
Utilities	-	2.4%

Return for Risk

BLDG vs. TAIL — Risk / Return Rank

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

BLDG

BLDG Risk / Return Rank: 27
BLDG Sharpe Ratio Rank: 28
BLDG Sortino Ratio Rank: 27
BLDG Omega Ratio Rank: 26
BLDG Calmar Ratio Rank: 24
BLDG Martin Ratio Rank: 28

TAIL

TAIL Risk / Return Rank: 1
TAIL Sharpe Ratio Rank: 1
TAIL Sortino Ratio Rank: 1
TAIL Omega Ratio Rank: 1
TAIL Calmar Ratio Rank: 2
TAIL Martin Ratio Rank: 0

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.

BLDG vs. TAIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cambria Global Real Estate ETF (BLDG) and Cambria Tail Risk ETF (TAIL). 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.

	BLDG	TAIL	Difference
Sharpe ratio: Return per unit of total volatility	1.00	-1.11	+2.11
Sortino ratio: Return per unit of downside risk	1.45	-1.58	+3.02
Omega ratio: Gain probability vs. loss probability	1.17	0.82	+0.35
Calmar ratio: Return relative to maximum drawdown	1.10	-0.85	+1.96
Martin ratio: Return relative to average drawdown	3.88	-2.13	+6.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BLDG vs. TAIL - Sharpe Ratio Comparison

The current BLDG Sharpe Ratio is 1.00, which is higher than the TAIL Sharpe Ratio of -1.11. The chart below compares the historical Sharpe Ratios of BLDG and TAIL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BLDG	TAIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.00	-1.11	+2.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.16	-0.57	+0.73
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	-0.48	+0.94

Drawdowns

BLDG vs. TAIL - Drawdown Comparison

The maximum BLDG drawdown since its inception was -27.25%, smaller than the maximum TAIL drawdown of -52.36%. Use the drawdown chart below to compare losses from any high point for BLDG and TAIL.

Drawdown Indicators

	BLDG	TAIL	Difference
Max Drawdown Largest peak-to-trough decline	-27.25%	-52.36%	+25.11%
Max Drawdown (1Y) Largest decline over 1 year	-10.08%	-10.99%	+0.91%
Max Drawdown (3Y) Largest decline over 3 years	-18.57%	-20.69%	+2.12%
Max Drawdown (5Y) Largest decline over 5 years	-27.25%	-38.44%	+11.19%
Current Drawdown Current decline from peak	-1.96%	-51.65%	+49.69%
Average Drawdown Average peak-to-trough decline	-9.22%	-29.13%	+19.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.86%	4.40%	-1.54%

Volatility

BLDG vs. TAIL - Volatility Comparison

Cambria Global Real Estate ETF (BLDG) has a higher volatility of 3.58% compared to Cambria Tail Risk ETF (TAIL) at 0.87%. This indicates that BLDG's price experiences larger fluctuations and is considered to be riskier than TAIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BLDG	TAIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.58%	0.87%	+2.71%
Volatility (6M) Calculated over the trailing 6-month period	8.26%	6.44%	+1.82%
Volatility (1Y) Calculated over the trailing 1-year period	11.09%	8.51%	+2.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.27%	14.90%	+0.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.54%	14.94%	+0.60%

BLDG vs. TAIL - Expense Ratio Comparison

Both BLDG and TAIL have an expense ratio of 0.59%.

Dividends

BLDG vs. TAIL - Dividend Comparison

BLDG's dividend yield for the trailing twelve months is around 5.68%, more than TAIL's 3.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BLDG Cambria Global Real Estate ETF	5.68%	7.46%	7.97%	4.99%	3.99%	10.40%	0.59%	0.00%	0.00%	0.00%
TAIL Cambria Tail Risk ETF	3.50%	2.88%	3.48%	3.74%	1.50%	0.49%	0.36%	1.58%	1.52%	0.91%

Frequently Asked Questions

Can I hold both BLDG and TAIL in my portfolio?

BLDG and TAIL have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BLDG or TAIL?

BLDG has higher volatility (3.58%) compared to TAIL (0.87%). In terms of maximum drawdown, BLDG dropped -27.25% vs TAIL's -52.36%.

Which ETF is better, BLDG or TAIL?

On 5-year performance, BLDG leads with 2.40% vs -8.42% for TAIL. Both ETFs have the same 0.59% expense ratio. On volatility, TAIL has been the lower-risk option at 0.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BLDG or TAIL?

Over the 5-year period, BLDG has performed better with a 2.40% return vs -8.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BLDG or TAIL?

BLDG and TAIL have the same expense ratio: 0.59% per year.

Which ETF pays a higher dividend yield, BLDG or TAIL?

BLDG has the higher dividend yield at 5.68%, compared with 3.50% for TAIL.

What is the main difference between BLDG and TAIL?

BLDG is categorized as REIT, while TAIL is Volatility Hedged Equity.

Which has better risk-adjusted returns?

BLDG currently has the higher Sharpe Ratio (1.00 vs -1.11), 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.