GEW vs. TAIL

Last updated Jul 2, 2026

GEW (Cambria Global Equal Weight ETF) and TAIL (Cambria Tail Risk ETF) are both exchange-traded funds - GEW is a Global Equities fund actively managed by Cambria, while TAIL is a Volatility Hedged Equity fund actively managed by Cambria. Both are actively managed. At a correlation of -0.58, they often move in opposite directions. GEW charges 0.29%/yr vs 0.59%/yr for TAIL.

Performance

GEW vs. TAIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cambria Global Equal Weight ETF (GEW) 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, GEW achieves a 7.16% return, which is significantly higher than TAIL's -6.41% return.

GEW

• 1D: -0.23%
• 1M: -0.33%
• YTD: 7.16%
• 6M: 7.16%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TAIL

• 1D: 0.05%
• 1M: -0.26%
• YTD: -6.41%
• 6M: -6.41%
• 1Y: -8.69%
• 3Y*: -5.00%
• 5Y*: -8.42%
• 10Y*: —

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

GEW vs. TAIL - Yearly Performance Comparison

	2026 (YTD)	2025
GEW Cambria Global Equal Weight ETF	7.16%	3.68%
TAIL Cambria Tail Risk ETF	-6.41%	-2.21%

Correlation

The correlation between GEW and TAIL is -0.58, 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 (All Time) Calculated using the full available price history since Sep 24, 2025	-0.58

Return for Risk

GEW vs. TAIL — Risk / Return Rank

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

GEW

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

TAIL

TAIL Risk / Return Rank: 2
TAIL Sharpe Ratio Rank: 2
TAIL Sortino Ratio Rank: 2
TAIL Omega Ratio Rank: 2
TAIL Calmar Ratio Rank: 3
TAIL Martin Ratio Rank: 1

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.

GEW vs. TAIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cambria Global Equal Weight ETF (GEW) 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.

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.

	GEW	TAIL	Difference
Sharpe ratio: Return per unit of total volatility	—	-1.02	—
Sortino ratio: Return per unit of downside risk	—	-1.45	—
Omega ratio: Gain probability vs. loss probability	—	0.83	—
Calmar ratio: Return relative to maximum drawdown	—	-0.79	—
Martin ratio: Return relative to average drawdown	—	-1.69	—

Drawdowns

GEW vs. TAIL - Drawdown Comparison

The maximum GEW drawdown since its inception was -8.15%, smaller than the maximum TAIL drawdown of -52.36%. Use the drawdown chart below to compare losses from any high point for GEW and TAIL.

Drawdown Indicators

	GEW	TAIL	Difference
Max Drawdown Largest peak-to-trough decline	-8.15%	-52.36%	+44.21%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.10%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-20.78%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-38.44%	—
Current Drawdown Current decline from peak	-1.07%	-51.68%	+50.61%
Average Drawdown Average peak-to-trough decline	-1.33%	-29.29%	+27.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.15%	—

Volatility

Volatility by Period

	GEW	TAIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.37%	—
Volatility (6M) Calculated over the trailing 6-month period	—	6.71%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.50%	8.54%	+5.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.50%	14.91%	-0.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.50%	14.90%	-0.40%

GEW vs. TAIL - Expense Ratio Comparison

GEW has a 0.29% expense ratio, which is lower than TAIL's 0.59% expense ratio.

Dividends

GEW vs. TAIL - Dividend Comparison

GEW's dividend yield for the trailing twelve months is around 1.27%, less than TAIL's 2.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
GEW Cambria Global Equal Weight ETF	1.27%	0.43%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TAIL Cambria Tail Risk ETF	2.93%	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 GEW and TAIL in my portfolio?

GEW and TAIL have a correlation of -0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GEW or TAIL?

On fees, GEW is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GEW or TAIL?

GEW is cheaper with a 0.29% expense ratio, compared with 0.59% for TAIL.

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

TAIL has the higher dividend yield at 2.93%, compared with 1.27% for GEW.

What is the main difference between GEW and TAIL?

GEW is categorized as Global Equities, while TAIL is Volatility Hedged Equity. Their fees differ too: 0.29% for GEW and 0.59% for TAIL.