CAOS vs. XLRI

Last updated Jun 24, 2026

CAOS (Alpha Architect Tail Risk ETF) and XLRI (State Street Real Estate Select Sector SPDR Premium Income ETF) are both exchange-traded funds - CAOS is a Options Trading fund actively managed by Alpha Architect, while XLRI is a Derivative Income fund actively managed by State Street. Both are actively managed. At a correlation of -0.09, they often move in opposite directions. CAOS charges 0.63%/yr vs 0.35%/yr for XLRI.

Performance

CAOS vs. XLRI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alpha Architect Tail Risk ETF (CAOS) and State Street Real Estate Select Sector SPDR Premium Income ETF (XLRI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CAOS achieves a 0.71% return, which is significantly lower than XLRI's 6.71% return.

CAOS

• 1D: -0.04%
• 1M: -0.12%
• YTD: 0.71%
• 6M: 0.61%
• 1Y: 1.62%
• 3Y*: 3.94%
• 5Y*: —
• 10Y*: —

XLRI

• 1D: 1.31%
• 1M: 1.23%
• YTD: 6.71%
• 6M: 7.39%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CAOS vs. XLRI - Yearly Performance Comparison

	2026 (YTD)	2025
CAOS Alpha Architect Tail Risk ETF	0.71%	1.07%
XLRI State Street Real Estate Select Sector SPDR Premium Income ETF	6.71%	-0.57%

Correlation

The correlation between CAOS and XLRI is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 30, 2025	-0.09

Return for Risk

CAOS vs. XLRI — Risk / Return Rank

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

CAOS

CAOS Risk / Return Rank: 36
CAOS Sharpe Ratio Rank: 31
CAOS Sortino Ratio Rank: 34
CAOS Omega Ratio Rank: 34
CAOS Calmar Ratio Rank: 45
CAOS Martin Ratio Rank: 36

XLRI

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

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.

CAOS vs. XLRI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alpha Architect Tail Risk ETF (CAOS) and State Street Real Estate Select Sector SPDR Premium Income ETF (XLRI). 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	XLRI	Difference
Sharpe ratio: Return per unit of total volatility	1.08	—	—
Sortino ratio: Return per unit of downside risk	1.72	—	—
Omega ratio: Gain probability vs. loss probability	1.22	—	—
Calmar ratio: Return relative to maximum drawdown	2.15	—	—
Martin ratio: Return relative to average drawdown	5.18	—	—

Drawdowns

CAOS vs. XLRI - Drawdown Comparison

The maximum CAOS drawdown since its inception was -3.89%, smaller than the maximum XLRI drawdown of -7.12%. Use the drawdown chart below to compare losses from any high point for CAOS and XLRI.

Drawdown Indicators

	CAOS	XLRI	Difference
Max Drawdown Largest peak-to-trough decline	-3.89%	-7.12%	+3.23%
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	-1.18%	-0.54%	-0.64%
Average Drawdown Average peak-to-trough decline	-0.92%	-1.65%	+0.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.32%	—	—

Volatility

Volatility by Period

	CAOS	XLRI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.32%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.05%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.50%	10.99%	-9.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.23%	10.99%	-6.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.23%	10.99%	-6.76%

CAOS vs. XLRI - Expense Ratio Comparison

CAOS has a 0.63% expense ratio, which is higher than XLRI's 0.35% expense ratio.

Dividends

CAOS vs. XLRI - Dividend Comparison

CAOS has not paid dividends to shareholders, while XLRI's dividend yield for the trailing twelve months is around 12.24%.

Position	TTM	2025
CAOS Alpha Architect Tail Risk ETF	0.00%	0.00%
XLRI State Street Real Estate Select Sector SPDR Premium Income ETF	12.24%	6.85%

Frequently Asked Questions

Can I hold both CAOS and XLRI in my portfolio?

CAOS and XLRI have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CAOS or XLRI?

On fees, XLRI is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CAOS or XLRI?

XLRI is cheaper with a 0.35% expense ratio, compared with 0.63% for CAOS.

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

XLRI has the higher dividend yield at 12.24%, compared with 0.00% for CAOS.

What is the main difference between CAOS and XLRI?

CAOS is categorized as Options Trading, while XLRI is Derivative Income. They also come from different issuers: Alpha Architect and State Street. Their fees differ too: 0.63% for CAOS and 0.35% for XLRI.