CAOS vs. CTIF

Last updated Aug 4, 2026

CAOS (Alpha Architect Tail Risk ETF) and CTIF (Castellan Targeted Income ETF) are both exchange-traded funds - CAOS is a Options Trading fund actively managed by Alpha Architect, while CTIF is a Derivative Income fund actively managed by Castellan. Both are actively managed. Over the past year, CAOS returned 1.71% vs 14.52% for CTIF. Their -0.27 correlation means they have often moved in opposite directions in the past. CAOS charges 0.63%/yr vs 0.45%/yr for CTIF.

Performance

CAOS vs. CTIF - Performance Comparison

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

Returns By Period

In the year-to-date period, CAOS achieves a 0.75% return, which is significantly lower than CTIF's 10.45% return.

CAOS

• 1D: -0.01%
• 1M: -0.02%
• 6M: 0.18%
• YTD: 0.75%
• 1Y: 1.71%
• 3Y*: 3.56%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.69%

CTIF

• 1D: 1.03%
• 1M: 5.15%
• 6M: 7.21%
• YTD: 10.45%
• 1Y: 14.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.22%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CAOS Alpha Architect Tail Risk ETF	$7.09M	$5.54M	$5.04M
CTIF Castellan Targeted Income ETF	$144.86K	$160.90K	$259.16K

CAOS vs. CTIF - Yearly Performance Comparison

	2026 (YTD)	2025
CAOS Alpha Architect Tail Risk ETF	0.75%	0.97%
CTIF Castellan Targeted Income ETF	10.45%	3.87%

Correlation

The correlation between CAOS and CTIF is -0.29, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.29
Correlation (All Time) Calculated using the full available price history since Jun 25, 2025	-0.27

Return for Risk

CAOS vs. CTIF — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CAOS

CAOS Risk / Return Rank: 49
CAOS Sharpe Ratio Rank: 43
CAOS Sortino Ratio Rank: 47
CAOS Omega Ratio Rank: 47
CAOS Calmar Ratio Rank: 63
CAOS Martin Ratio Rank: 44

CTIF

CTIF Risk / Return Rank: 42
CTIF Sharpe Ratio Rank: 42
CTIF Sortino Ratio Rank: 42
CTIF Omega Ratio Rank: 39
CTIF Calmar Ratio Rank: 40
CTIF Martin Ratio Rank: 46

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CAOS vs. CTIF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alpha Architect Tail Risk ETF (CAOS) and Castellan Targeted Income ETF (CTIF). 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.

	CAOS	CTIF	Difference
Sharpe ratio: Return per unit of total volatility	1.10	1.15	-0.05
Sortino ratio: Return per unit of downside risk	1.74	1.69	+0.05
Omega ratio: Gain probability vs. loss probability	1.22	1.20	+0.02
Calmar ratio: Return relative to maximum drawdown	2.27	1.55	+0.73
Martin ratio: Return relative to average drawdown	4.99	5.63	-0.64

CAOS vs. CTIF - Sharpe Ratio Comparison

The current CAOS Sharpe Ratio is 1.10, which is comparable to the CTIF Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of CAOS and CTIF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CAOS vs. CTIF - Drawdown Comparison

The maximum CAOS drawdown since its inception was -3.89%, smaller than the maximum CTIF drawdown of -9.43%. Use the drawdown chart below to compare losses from any high point for CAOS and CTIF.

Drawdown Indicators

	CAOS	CTIF	Difference
Max Drawdown Largest peak-to-trough decline	-3.89%	-9.43%	+5.54%
Max Drawdown (1Y) Largest decline over 1 year	-0.76%	-9.43%	+8.67%
Max Drawdown (3Y) Largest decline over 3 years	-3.60%	—	—
Current Drawdown Current decline from peak	-1.14%	0.00%	-1.14%
Average Drawdown Average peak-to-trough decline	-0.92%	-1.75%	+0.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.34%	2.59%	-2.25%

Volatility

CAOS vs. CTIF - Volatility Comparison

The current volatility for Alpha Architect Tail Risk ETF (CAOS) is 0.46%, while Castellan Targeted Income ETF (CTIF) has a volatility of 3.91%. This indicates that CAOS experiences smaller price fluctuations and is considered to be less risky than CTIF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CAOS	CTIF	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.46%	3.91%	-3.45%
Volatility (6M) Calculated over the trailing 6-month period	1.07%	9.80%	-8.73%
Volatility (1Y) Calculated over the trailing 1-year period	1.57%	12.71%	-11.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.17%	12.63%	-8.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.17%	12.63%	-8.46%

CAOS vs. CTIF - Expense Ratio Comparison

CAOS has a 0.63% expense ratio, which is higher than CTIF's 0.45% expense ratio.

Dividends

CAOS vs. CTIF - Dividend Comparison

CAOS has not paid dividends to shareholders, while CTIF's dividend yield for the trailing twelve months is around 4.70%.

Position	TTM	2025
CAOS Alpha Architect Tail Risk ETF	0.00%	0.00%
CTIF Castellan Targeted Income ETF	4.70%	2.55%

Frequently Asked Questions

Can I hold both CAOS and CTIF in my portfolio?

CAOS and CTIF have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CAOS or CTIF?

CTIF has higher volatility (3.91%) compared to CAOS (0.46%). In terms of maximum drawdown, CAOS dropped -3.89% vs CTIF's -9.43%.

Which ETF is better, CAOS or CTIF?

On 1-year performance, CTIF leads with 14.52% vs 1.71% for CAOS. On fees, CTIF is cheaper at 0.45% per year. On volatility, CAOS has been the lower-risk option at 0.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CAOS or CTIF?

Over the 1-year period, CTIF has performed better with a 14.52% return vs 1.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CAOS or CTIF?

CTIF is cheaper with a 0.45% expense ratio, compared with 0.63% for CAOS.

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

CTIF has the higher dividend yield at 4.70%, compared with 0.00% for CAOS.

What is the main difference between CAOS and CTIF?

CAOS is categorized as Options Trading, while CTIF is Derivative Income. They also come from different issuers: Alpha Architect and Castellan. Their fees differ too: 0.63% for CAOS and 0.45% for CTIF.

Which has better risk-adjusted returns?

CTIF currently has the higher Sharpe Ratio (1.15 vs 1.10), 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.