HIDE vs. CAOS

Last updated Jun 23, 2026

HIDE (Alpha Architect High Inflation And Deflation ETF) and CAOS (Alpha Architect Tail Risk ETF) are both exchange-traded funds - HIDE is a Diversified Portfolio fund actively managed by Alpha Architect, while CAOS is a Options Trading fund actively managed by Alpha Architect. Both are actively managed. Over the past 3 years, HIDE returned 3.84%/yr vs 3.95%/yr for CAOS. At a correlation of -0.04, they often move in opposite directions. HIDE charges 0.29%/yr vs 0.63%/yr for CAOS.

Performance

HIDE vs. CAOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alpha Architect High Inflation And Deflation ETF (HIDE) and Alpha Architect Tail Risk ETF (CAOS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HIDE achieves a 5.21% return, which is significantly higher than CAOS's 0.75% return.

HIDE

• 1D: -0.00%
• 1M: -2.27%
• YTD: 5.21%
• 6M: 5.33%
• 1Y: 8.79%
• 3Y*: 3.84%
• 5Y*: —
• 10Y*: —

CAOS

• 1D: 0.11%
• 1M: -0.08%
• YTD: 0.75%
• 6M: 0.67%
• 1Y: 1.64%
• 3Y*: 3.95%
• 5Y*: —
• 10Y*: —

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

HIDE vs. CAOS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HIDE Alpha Architect High Inflation And Deflation ETF	5.21%	5.32%	-0.85%	2.61%
CAOS Alpha Architect Tail Risk ETF	0.75%	2.55%	5.33%	7.43%

Correlation

The correlation between HIDE and CAOS is 0.08, 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 (1Y) Calculated over the trailing 1-year period	0.08
Correlation (3Y) Calculated over the trailing 3-year period	-0.03
Correlation (All Time) Calculated using the full available price history since Mar 6, 2023	-0.04

The correlation between HIDE and CAOS shifts across timeframes, from -0.04 (all time) to 0.08 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

HIDE vs. CAOS — Risk / Return Rank

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

HIDE

HIDE Risk / Return Rank: 60
HIDE Sharpe Ratio Rank: 59
HIDE Sortino Ratio Rank: 57
HIDE Omega Ratio Rank: 65
HIDE Calmar Ratio Rank: 56
HIDE Martin Ratio Rank: 65

CAOS

CAOS Risk / Return Rank: 36
CAOS Sharpe Ratio Rank: 31
CAOS Sortino Ratio Rank: 34
CAOS Omega Ratio Rank: 35
CAOS Calmar Ratio Rank: 45
CAOS Martin Ratio Rank: 36

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.

HIDE vs. CAOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alpha Architect High Inflation And Deflation ETF (HIDE) and Alpha Architect Tail Risk ETF (CAOS). 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.

	HIDE	CAOS	Difference
Sharpe ratio: Return per unit of total volatility	1.91	1.10	+0.81
Sortino ratio: Return per unit of downside risk	2.62	1.75	+0.87
Omega ratio: Gain probability vs. loss probability	1.38	1.23	+0.15
Calmar ratio: Return relative to maximum drawdown	2.71	2.17	+0.54
Martin ratio: Return relative to average drawdown	11.49	5.23	+6.25

HIDE vs. CAOS - Sharpe Ratio Comparison

The current HIDE Sharpe Ratio is 1.91, which is higher than the CAOS Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of HIDE and CAOS, 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

HIDE vs. CAOS - Drawdown Comparison

The maximum HIDE drawdown since its inception was -5.15%, which is greater than CAOS's maximum drawdown of -3.89%. Use the drawdown chart below to compare losses from any high point for HIDE and CAOS.

Drawdown Indicators

	HIDE	CAOS	Difference
Max Drawdown Largest peak-to-trough decline	-5.15%	-3.89%	-1.26%
Max Drawdown (1Y) Largest decline over 1 year	-3.25%	-0.76%	-2.49%
Max Drawdown (3Y) Largest decline over 3 years	-5.15%	-3.60%	-1.55%
Current Drawdown Current decline from peak	-3.18%	-1.14%	-2.04%
Average Drawdown Average peak-to-trough decline	-0.96%	-0.92%	-0.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.77%	0.32%	+0.45%

Volatility

HIDE vs. CAOS - Volatility Comparison

Alpha Architect High Inflation And Deflation ETF (HIDE) has a higher volatility of 1.49% compared to Alpha Architect Tail Risk ETF (CAOS) at 0.32%. This indicates that HIDE's price experiences larger fluctuations and is considered to be riskier than CAOS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HIDE	CAOS	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.49%	0.32%	+1.17%
Volatility (6M) Calculated over the trailing 6-month period	4.08%	1.05%	+3.03%
Volatility (1Y) Calculated over the trailing 1-year period	4.63%	1.50%	+3.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.29%	4.23%	+0.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.29%	4.23%	+0.06%

HIDE vs. CAOS - Expense Ratio Comparison

HIDE has a 0.29% expense ratio, which is lower than CAOS's 0.63% expense ratio.

Dividends

HIDE vs. CAOS - Dividend Comparison

HIDE's dividend yield for the trailing twelve months is around 3.01%, while CAOS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
CAOS Alpha Architect Tail Risk ETF	0.00%	0.00%	0.00%	0.00%	0.00%
HIDE Alpha Architect High Inflation And Deflation ETF	3.01%	3.16%	2.86%	3.90%	6.25%

Frequently Asked Questions

Can I hold both HIDE and CAOS in my portfolio?

HIDE and CAOS have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HIDE or CAOS?

HIDE has higher volatility (1.49%) compared to CAOS (0.32%). In terms of maximum drawdown, HIDE dropped -5.15% vs CAOS's -3.89%.

Which ETF is better, HIDE or CAOS?

On 3-year performance, CAOS leads with 3.95% vs 3.84% for HIDE. On fees, HIDE is cheaper at 0.29% per year. On volatility, CAOS has been the lower-risk option at 0.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HIDE or CAOS?

Over the 3-year period, CAOS has performed better with a 3.95% return vs 3.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HIDE or CAOS?

HIDE is cheaper with a 0.29% expense ratio, compared with 0.63% for CAOS.

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

HIDE has the higher dividend yield at 3.01%, compared with 0.00% for CAOS.

What is the main difference between HIDE and CAOS?

HIDE is categorized as Diversified Portfolio, while CAOS is Options Trading. Their fees differ too: 0.29% for HIDE and 0.63% for CAOS.

Which has better risk-adjusted returns?

HIDE currently has the higher Sharpe Ratio (1.91 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.