CAOS vs. SJB
Compare and contrast key facts about Alpha Architect Tail Risk ETF (CAOS) and ProShares Short High Yield (SJB).
CAOS and SJB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CAOS is an actively managed fund by Alpha Architect. It was launched on Aug 14, 2013. SJB is a passively managed fund by ProShares that tracks the performance of the iBoxx $ Liquid High Yield Index (-100%). It was launched on Mar 21, 2011.
Performance
CAOS vs. SJB - Performance Comparison
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CAOS vs. SJB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CAOS Alpha Architect Tail Risk ETF | 1.10% | 2.55% | 5.33% | 7.97% |
SJB ProShares Short High Yield | 1.76% | -1.87% | -0.84% | -3.81% |
Returns By Period
In the year-to-date period, CAOS achieves a 1.10% return, which is significantly lower than SJB's 1.76% return.
CAOS
- 1D
- 0.07%
- 1M
- 0.43%
- YTD
- 1.10%
- 6M
- 1.37%
- 1Y
- 3.19%
- 3Y*
- 5.46%
- 5Y*
- —
- 10Y*
- —
SJB
- 1D
- -1.05%
- 1M
- 1.33%
- YTD
- 1.76%
- 6M
- 2.10%
- 1Y
- -0.56%
- 3Y*
- -1.29%
- 5Y*
- -0.64%
- 10Y*
- -4.13%
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CAOS vs. SJB - Expense Ratio Comparison
CAOS has a 0.63% expense ratio, which is lower than SJB's 0.95% expense ratio.
Return for Risk
CAOS vs. SJB — Risk / Return Rank
CAOS
SJB
CAOS vs. SJB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alpha Architect Tail Risk ETF (CAOS) and ProShares Short High Yield (SJB). 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.
| CAOS | SJB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.69 | -0.10 | +0.78 |
Sortino ratioReturn per unit of downside risk | 0.97 | -0.10 | +1.07 |
Omega ratioGain probability vs. loss probability | 1.26 | 0.99 | +0.27 |
Calmar ratioReturn relative to maximum drawdown | 0.83 | -0.09 | +0.92 |
Martin ratioReturn relative to average drawdown | 1.38 | -0.11 | +1.49 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CAOS | SJB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.69 | -0.10 | +0.78 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.09 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.48 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.27 | -0.60 | +1.87 |
Correlation
The correlation between CAOS and SJB is -0.07. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
CAOS vs. SJB - Dividend Comparison
CAOS has not paid dividends to shareholders, while SJB's dividend yield for the trailing twelve months is around 3.40%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
CAOS Alpha Architect Tail Risk ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SJB ProShares Short High Yield | 3.40% | 3.86% | 5.86% | 4.10% | 0.46% | 0.00% | 0.07% | 1.27% | 0.71% |
Drawdowns
CAOS vs. SJB - Drawdown Comparison
The maximum CAOS drawdown since its inception was -3.60%, smaller than the maximum SJB drawdown of -58.06%. Use the drawdown chart below to compare losses from any high point for CAOS and SJB.
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Drawdown Indicators
| CAOS | SJB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.60% | -58.06% | +54.46% |
Max Drawdown (1Y)Largest decline over 1 year | -3.60% | -6.35% | +2.75% |
Max Drawdown (5Y)Largest decline over 5 years | — | -13.30% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.52% | — |
Current DrawdownCurrent decline from peak | -0.80% | -56.97% | +56.17% |
Average DrawdownAverage peak-to-trough decline | -0.90% | -42.30% | +41.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.18% | 5.16% | -2.98% |
Volatility
CAOS vs. SJB - Volatility Comparison
The current volatility for Alpha Architect Tail Risk ETF (CAOS) is 0.74%, while ProShares Short High Yield (SJB) has a volatility of 2.25%. This indicates that CAOS experiences smaller price fluctuations and is considered to be less risky than SJB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CAOS | SJB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.74% | 2.25% | -1.51% |
Volatility (6M)Calculated over the trailing 6-month period | 1.30% | 2.90% | -1.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.68% | 5.69% | -1.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.37% | 7.50% | -3.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.37% | 8.55% | -4.18% |