JPUS vs. CAOS
JPUS (JPMorgan Diversified Return US Equity ETF) and CAOS (Alpha Architect Tail Risk ETF) are both exchange-traded funds - JPUS is a Large Cap Blend Equities fund tracking the JPMorgan Diversified Factor US Equity Index, while CAOS is a Options Trading fund actively managed by Alpha Architect. JPUS is passively managed, while CAOS is actively managed. Over the past 3 years, JPUS returned 14.71%/yr vs 3.48%/yr for CAOS. Their 0.07 correlation means their historical movements had little consistent relationship. JPUS charges 0.18%/yr vs 0.63%/yr for CAOS.
Performance
JPUS vs. CAOS - Performance Comparison
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Returns By Period
In the year-to-date period, JPUS achieves a 15.59% return, which is significantly higher than CAOS's 0.76% return.
JPUS
- 1D
- -0.24%
- 1M
- 0.77%
- 6M
- 10.78%
- YTD
- 15.59%
- 1Y
- 23.27%
- 3Y*
- 14.71%
- 5Y*
- 10.05%
- 10Y*
- 11.51%
- ALL TIME*
- 12.14%
CAOS
- 1D
- -0.06%
- 1M
- -0.01%
- 6M
- 0.16%
- YTD
- 0.76%
- 1Y
- 1.73%
- 3Y*
- 3.48%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.70%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $6.81M | $5.39M | $5.09M | |
| $761.65K | $1.09M | $1.10M |
JPUS vs. CAOS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
JPUS JPMorgan Diversified Return US Equity ETF | 15.59% | 11.18% | 13.48% | 7.50% |
CAOS Alpha Architect Tail Risk ETF | 0.76% | 2.55% | 5.33% | 7.43% |
Correlation
The correlation between JPUS and CAOS is -0.25, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.25 |
Correlation (3Y) Balances recent behavior with more history. | -0.07 |
Correlation (All Time) Calculated using the full available price history since Mar 6, 2023 | 0.07 |
The correlation between JPUS and CAOS shifts across timeframes, from -0.25 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
JPUS vs. CAOS — Risk / Return Rank
JPUS
CAOS
JPUS vs. CAOS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Diversified Return US Equity ETF (JPUS) 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.
| JPUS | CAOS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.01 | ||
| Sortino ratioReturn per unit of downside risk | +1.32 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.24 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 3.29 | 2.47 | +0.82 |
| Martin ratioReturn relative to average drawdown | 13.52 | 5.45 | +8.07 |
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Drawdowns
JPUS vs. CAOS - Drawdown Comparison
The maximum JPUS drawdown since its inception was -38.69%, which is greater than CAOS's maximum drawdown of -3.89%. Use the drawdown chart below to compare losses from any high point for JPUS and CAOS.
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Drawdown Indicators
| JPUS | CAOS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.69% | -3.89% | -34.80% |
Max Drawdown (1Y)Largest decline over 1 year | -6.90% | -0.76% | -6.14% |
Max Drawdown (3Y)Largest decline over 3 years | -15.96% | -3.60% | -12.36% |
Max Drawdown (5Y)Largest decline over 5 years | -19.04% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -38.69% | — | — |
Current DrawdownCurrent decline from peak | -1.14% | -1.13% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -3.77% | -0.92% | -2.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.67% | 0.34% | +1.33% |
Volatility
JPUS vs. CAOS - Volatility Comparison
JPMorgan Diversified Return US Equity ETF (JPUS) has a higher volatility of 2.52% compared to Alpha Architect Tail Risk ETF (CAOS) at 0.51%. This indicates that JPUS'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.
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Volatility by Period
| JPUS | CAOS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.52% | 0.51% | +2.01% |
Volatility (6M)Calculated over the trailing 6-month period | 7.65% | 1.07% | +6.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.33% | 1.57% | +8.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.45% | 4.18% | +10.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.71% | 4.18% | +12.53% |
JPUS vs. CAOS - Expense Ratio Comparison
JPUS has a 0.18% expense ratio, which is lower than CAOS's 0.63% expense ratio.
Dividends
JPUS vs. CAOS - Dividend Comparison
JPUS's dividend yield for the trailing twelve months is around 1.97%, while CAOS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CAOS Alpha Architect Tail Risk ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
JPUS JPMorgan Diversified Return US Equity ETF | 1.97% | 2.27% | 2.12% | 2.26% | 2.35% | 1.67% | 1.94% | 2.09% | 2.16% | 1.25% | 0.77% | 0.48% |
Frequently Asked Questions
JPUS and CAOS have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JPUS has higher volatility (2.52%) compared to CAOS (0.51%). In terms of maximum drawdown, JPUS dropped -38.69% vs CAOS's -3.89%.
On 3-year performance, JPUS leads with 14.71% vs 3.48% for CAOS. On fees, JPUS is cheaper at 0.18% per year. On volatility, CAOS has been the lower-risk option at 0.51%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, JPUS has performed better with a 14.71% return vs 3.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JPUS is cheaper with a 0.18% expense ratio, compared with 0.63% for CAOS.
JPUS has the higher dividend yield at 1.97%, compared with 0.00% for CAOS.
JPUS is categorized as Large Cap Blend Equities, while CAOS is Options Trading. They also come from different issuers: JPMorgan and Alpha Architect. Their fees differ too: 0.18% for JPUS and 0.63% for CAOS.
JPUS currently has the higher Sharpe Ratio (2.20 vs 1.19), 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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