IDLV vs. TAIL

Last updated Jun 4, 2026

IDLV (Invesco S&P International Developed Low Volatility ETF) and TAIL (Cambria Tail Risk ETF) are both Volatility Hedged Equity funds. IDLV is passively managed, while TAIL is actively managed. Over the past 5 years, IDLV returned 5.88%/yr vs -8.38%/yr for TAIL. At a correlation of -0.41, they often move in opposite directions. IDLV charges 0.25%/yr vs 0.59%/yr for TAIL.

Performance

IDLV vs. TAIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P International Developed Low Volatility ETF (IDLV) 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, IDLV achieves a 2.35% return, which is significantly higher than TAIL's -6.17% return.

IDLV

• 1D: -0.26%
• 1M: -1.99%
• YTD: 2.35%
• 6M: 4.22%
• 1Y: 9.36%
• 3Y*: 11.74%
• 5Y*: 5.88%
• 10Y*: 5.12%

TAIL

• 1D: -0.05%
• 1M: -2.15%
• YTD: -6.17%
• 6M: -7.55%
• 1Y: -8.73%
• 3Y*: -5.76%
• 5Y*: -8.38%
• 10Y*: —

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

IDLV vs. TAIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IDLV Invesco S&P International Developed Low Volatility ETF	2.35%	27.77%	2.15%	9.18%	-12.21%	9.76%	-9.78%	20.09%	-8.02%	6.30%
TAIL Cambria Tail Risk ETF	-6.17%	5.48%	-9.62%	-13.29%	-13.13%	-12.81%	6.91%	-14.27%	2.85%	-7.70%

Correlation

The correlation between IDLV and TAIL is -0.22, 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 (1Y) Calculated over the trailing 1-year period	-0.22
Correlation (3Y) Calculated over the trailing 3-year period	-0.14
Correlation (5Y) Calculated over the trailing 5-year period	-0.32
Correlation (All Time) Calculated using the full available price history since Jun 14, 2017	-0.41

The correlation between IDLV and TAIL shifts across timeframes, from -0.41 (all time) to -0.14 (3 years), reflecting how their relationship changes across market environments.

IDLV vs. TAIL - Sectors Allocation Comparison

Sectors	IDLV	TAIL
Financial Services	22.9%	11.8%
Industrials	16.4%	8.3%
Real Estate	15.4%	1.9%
Consumer Defensive	13.8%	4.9%
Utilities	11.4%	2.4%
Communication Services	8.6%	11.2%
Consumer Cyclical	3.8%	10.1%
Energy	3.6%	3.5%
Basic Materials	2.3%	1.8%
Healthcare	1.7%	8.5%
Technology	0.7%	35.6%

Return for Risk

IDLV vs. TAIL — Risk / Return Rank

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

IDLV

IDLV Risk / Return Rank: 26
IDLV Sharpe Ratio Rank: 26
IDLV Sortino Ratio Rank: 25
IDLV Omega Ratio Rank: 26
IDLV Calmar Ratio Rank: 26
IDLV Martin Ratio Rank: 26

TAIL

TAIL Risk / Return Rank: 1
TAIL Sharpe Ratio Rank: 1
TAIL Sortino Ratio Rank: 2
TAIL Omega Ratio Rank: 2
TAIL Calmar Ratio Rank: 2
TAIL Martin Ratio Rank: 0

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.

IDLV vs. TAIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P International Developed Low Volatility ETF (IDLV) 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.

	IDLV	TAIL	Difference
Sharpe ratio Return per unit of total volatility	0.96	-1.03	+1.99
Sortino ratio Return per unit of downside risk	1.41	-1.46	+2.87
Omega ratio Gain probability vs. loss probability	1.18	0.83	+0.34
Calmar ratio Return relative to maximum drawdown	1.25	-0.80	+2.05
Martin ratio Return relative to average drawdown	3.69	-2.01	+5.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IDLV vs. TAIL - Sharpe Ratio Comparison

The current IDLV Sharpe Ratio is 0.96, which is higher than the TAIL Sharpe Ratio of -1.03. The chart below compares the historical Sharpe Ratios of IDLV and TAIL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IDLV	TAIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.96	-1.03	+1.99
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	-0.57	+1.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.38	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	-0.48	+0.93

Drawdowns

IDLV vs. TAIL - Drawdown Comparison

The maximum IDLV drawdown since its inception was -34.65%, smaller than the maximum TAIL drawdown of -52.36%. Use the drawdown chart below to compare losses from any high point for IDLV and TAIL.

Drawdown Indicators

	IDLV	TAIL	Difference
Max Drawdown Largest peak-to-trough decline	-34.65%	-52.36%	+17.71%
Max Drawdown (1Y) Largest decline over 1 year	-7.54%	-10.95%	+3.41%
Max Drawdown (3Y) Largest decline over 3 years	-9.97%	-20.65%	+10.68%
Max Drawdown (5Y) Largest decline over 5 years	-22.52%	-38.44%	+15.92%
Max Drawdown (10Y) Largest decline over 10 years	-34.65%	—	—
Current Drawdown Current decline from peak	-5.95%	-51.56%	+45.61%
Average Drawdown Average peak-to-trough decline	-5.95%	-29.12%	+23.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.54%	4.35%	-1.81%

Volatility

IDLV vs. TAIL - Volatility Comparison

Invesco S&P International Developed Low Volatility ETF (IDLV) has a higher volatility of 2.69% compared to Cambria Tail Risk ETF (TAIL) at 0.86%. This indicates that IDLV's price experiences larger fluctuations and is considered to be riskier than TAIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IDLV	TAIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.69%	0.86%	+1.83%
Volatility (6M) Calculated over the trailing 6-month period	7.65%	6.45%	+1.20%
Volatility (1Y) Calculated over the trailing 1-year period	9.79%	8.51%	+1.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.80%	14.90%	-3.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.40%	14.94%	-1.54%

IDLV vs. TAIL - Expense Ratio Comparison

IDLV has a 0.25% expense ratio, which is lower than TAIL's 0.59% expense ratio.

Dividends

IDLV vs. TAIL - Dividend Comparison

IDLV's dividend yield for the trailing twelve months is around 4.71%, more than TAIL's 3.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IDLV Invesco S&P International Developed Low Volatility ETF	4.71%	4.63%	3.41%	3.59%	4.69%	2.99%	2.30%	4.92%	3.94%	3.05%	3.92%	3.93%
TAIL Cambria Tail Risk ETF	3.49%	2.88%	3.48%	3.74%	1.50%	0.49%	0.36%	1.58%	1.52%	0.91%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IDLV and TAIL in my portfolio?

IDLV and TAIL have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IDLV or TAIL?

IDLV has higher volatility (2.69%) compared to TAIL (0.86%). In terms of maximum drawdown, IDLV dropped -34.65% vs TAIL's -52.36%.

Which ETF is better, IDLV or TAIL?

On 5-year performance, IDLV leads with 5.88% vs -8.38% for TAIL. On fees, IDLV is cheaper at 0.25% per year. On volatility, TAIL has been the lower-risk option at 0.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IDLV or TAIL?

Over the 5-year period, IDLV has performed better with a 5.88% return vs -8.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IDLV or TAIL?

IDLV is cheaper with a 0.25% expense ratio, compared with 0.59% for TAIL.

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

IDLV has the higher dividend yield at 4.71%, compared with 3.49% for TAIL.

What is the main difference between IDLV and TAIL?

They also come from different issuers: Invesco and Cambria. Their fees differ too: 0.25% for IDLV and 0.59% for TAIL.

Which has better risk-adjusted returns?

IDLV currently has the higher Sharpe Ratio (0.96 vs -1.03), 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.