GAA vs. POWA
GAA (Cambria Global Asset Allocation ETF) and POWA (Invesco Bloomberg Pricing Power ETF) are both exchange-traded funds - GAA is a Diversified Portfolio fund actively managed by Cambria, while POWA is a Large Cap Blend Equities fund tracking the Bloomberg Pricing Power Index. GAA is actively managed, while POWA is passively managed. Over the past 10 years, GAA returned 7.21%/yr vs 10.26%/yr for POWA. Their 0.55 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.40% expense ratio.
Performance
GAA vs. POWA - Performance Comparison
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Returns By Period
In the year-to-date period, GAA achieves a 8.56% return, which is significantly higher than POWA's 1.81% return. Over the past 10 years, GAA has underperformed POWA with an annualized return of 7.21%, while POWA has yielded a comparatively higher 10.26% annualized return.
GAA
- 1D
- -0.03%
- 1M
- 1.21%
- 6M
- 4.23%
- YTD
- 8.56%
- 1Y
- 18.80%
- 3Y*
- 12.76%
- 5Y*
- 6.43%
- 10Y*
- 7.21%
- ALL TIME*
- 6.59%
POWA
- 1D
- 0.81%
- 1M
- 2.31%
- 6M
- -1.06%
- YTD
- 1.81%
- 1Y
- 5.70%
- 3Y*
- 11.26%
- 5Y*
- 7.24%
- 10Y*
- 10.26%
- ALL TIME*
- 8.69%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $221.78K | $178.12K | $220.71K | |
| $275.81K | $326.17K | $415.64K |
GAA vs. POWA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GAA Cambria Global Asset Allocation ETF | 8.56% | 18.76% | 6.67% | 7.65% | -8.47% | 11.17% | 9.11% | 15.12% | -7.15% | 15.11% |
POWA Invesco Bloomberg Pricing Power ETF | 1.81% | 11.71% | 13.18% | 10.58% | -7.67% | 24.93% | 7.61% | 27.98% | -3.96% | 21.52% |
Correlation
The correlation between GAA and POWA is 0.44, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.44 |
Correlation (3Y) Balances recent behavior with more history. | 0.50 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.49 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.51 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2014 | 0.55 |
The correlation between GAA and POWA shifts across timeframes, from 0.44 (1 year) to 0.55 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GAA vs. POWA — Risk / Return Rank
GAA
POWA
GAA vs. POWA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cambria Global Asset Allocation ETF (GAA) and Invesco Bloomberg Pricing Power ETF (POWA). 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.
| GAA | POWA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.53 | ||
| Sortino ratioReturn per unit of downside risk | +2.02 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.09 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 3.27 | 0.59 | +2.68 |
| Martin ratioReturn relative to average drawdown | 11.60 | 1.35 | +10.25 |
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Drawdowns
GAA vs. POWA - Drawdown Comparison
The maximum GAA drawdown since its inception was -26.57%, smaller than the maximum POWA drawdown of -47.91%. Use the drawdown chart below to compare losses from any high point for GAA and POWA.
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Drawdown Indicators
| GAA | POWA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.57% | -47.91% | +21.34% |
Max Drawdown (1Y)Largest decline over 1 year | -5.78% | -9.76% | +3.98% |
Max Drawdown (3Y)Largest decline over 3 years | -7.18% | -15.00% | +7.82% |
Max Drawdown (5Y)Largest decline over 5 years | -18.47% | -17.75% | -0.72% |
Max Drawdown (10Y)Largest decline over 10 years | -26.57% | -36.53% | +9.96% |
Current DrawdownCurrent decline from peak | -1.42% | -2.51% | +1.09% |
Average DrawdownAverage peak-to-trough decline | -3.82% | -6.23% | +2.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.62% | 4.25% | -2.63% |
Volatility
GAA vs. POWA - Volatility Comparison
The current volatility for Cambria Global Asset Allocation ETF (GAA) is 1.83%, while Invesco Bloomberg Pricing Power ETF (POWA) has a volatility of 4.01%. This indicates that GAA experiences smaller price fluctuations and is considered to be less risky than POWA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GAA | POWA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.83% | 4.01% | -2.18% |
Volatility (6M)Calculated over the trailing 6-month period | 7.67% | 9.19% | -1.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.42% | 12.12% | -2.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.31% | 13.99% | -2.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.09% | 16.08% | -4.99% |
GAA vs. POWA - Expense Ratio Comparison
Both GAA and POWA have an expense ratio of 0.40%.
Dividends
GAA vs. POWA - Dividend Comparison
GAA's dividend yield for the trailing twelve months is around 3.50%, more than POWA's 0.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GAA Cambria Global Asset Allocation ETF | 3.50% | 4.24% | 3.88% | 3.73% | 6.05% | 4.21% | 2.73% | 3.32% | 3.01% | 2.36% | 2.82% | 2.49% |
POWA Invesco Bloomberg Pricing Power ETF | 0.92% | 0.94% | 0.79% | 1.60% | 1.48% | 1.06% | 1.34% | 1.16% | 1.39% | 1.63% | 2.18% | 3.31% |
Frequently Asked Questions
GAA and POWA have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
POWA has higher volatility (4.01%) compared to GAA (1.83%). In terms of maximum drawdown, GAA dropped -26.57% vs POWA's -47.91%.
On 10-year performance, POWA leads with 10.26% vs 7.21% for GAA. Both ETFs have the same 0.40% expense ratio. On volatility, GAA has been the lower-risk option at 1.83%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, POWA has performed better with a 10.26% return vs 7.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GAA and POWA have the same expense ratio: 0.40% per year.
GAA has the higher dividend yield at 3.50%, compared with 0.92% for POWA.
GAA is categorized as Diversified Portfolio, while POWA is Large Cap Blend Equities. They also come from different issuers: Cambria and Invesco.
GAA currently has the higher Sharpe Ratio (2.01 vs 0.47), 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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