JULW vs. CAOS

Last updated Apr 2, 2026

Compare and contrast key facts about AllianzIM U.S. Large Cap Buffer20 Jul ETF (JULW) and Alpha Architect Tail Risk ETF (CAOS).

JULW and CAOS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. JULW is an actively managed fund by Allianz. It was launched on Jun 30, 2020. CAOS is an actively managed fund by Alpha Architect. It was launched on Aug 14, 2013.

Performance

JULW vs. CAOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Large Cap Buffer20 Jul ETF (JULW) and Alpha Architect Tail Risk ETF (CAOS). The values are adjusted to include any dividend payments, if applicable.

JULW vs. CAOS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JULW AllianzIM U.S. Large Cap Buffer20 Jul ETF	-0.44%	11.57%	12.39%	12.25%
CAOS Alpha Architect Tail Risk ETF	0.96%	2.55%	5.33%	7.97%

Returns By Period

In the year-to-date period, JULW achieves a -0.44% return, which is significantly lower than CAOS's 0.96% return.

JULW

• 1D: 0.36%
• 1M: -1.13%
• YTD: -0.44%
• 6M: 1.29%
• 1Y: 12.72%
• 3Y*: 11.46%
• 5Y*: 8.13%
• 10Y*: —

CAOS

• 1D: -0.13%
• 1M: 0.12%
• YTD: 0.96%
• 6M: 1.23%
• 1Y: 2.95%
• 3Y*: 5.41%
• 5Y*: —
• 10Y*: —

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

JULW vs. CAOS - Expense Ratio Comparison

JULW has a 0.74% expense ratio, which is higher than CAOS's 0.63% expense ratio.

JULW

AllianzIM U.S. Large Cap Buffer20 Jul ETF

CAOS

Alpha Architect Tail Risk ETF

Return for Risk

JULW vs. CAOS — Risk / Return Rank

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

JULW

JULW Risk / Return Rank: 81
JULW Sharpe Ratio Rank: 76
JULW Sortino Ratio Rank: 82
JULW Omega Ratio Rank: 88
JULW Calmar Ratio Rank: 70
JULW Martin Ratio Rank: 87

CAOS

CAOS Risk / Return Rank: 35
CAOS Sharpe Ratio Rank: 32
CAOS Sortino Ratio Rank: 29
CAOS Omega Ratio Rank: 61
CAOS Calmar Ratio Rank: 33
CAOS Martin Ratio Rank: 21

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.

JULW vs. CAOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Large Cap Buffer20 Jul ETF (JULW) 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.

	JULW	CAOS	Difference
Sharpe ratio Return per unit of total volatility	1.47	0.63	+0.84
Sortino ratio Return per unit of downside risk	2.26	0.90	+1.35
Omega ratio Gain probability vs. loss probability	1.38	1.23	+0.14
Calmar ratio Return relative to maximum drawdown	2.01	0.85	+1.16
Martin ratio Return relative to average drawdown	11.75	1.40	+10.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JULW vs. CAOS - Sharpe Ratio Comparison

The current JULW Sharpe Ratio is 1.47, which is higher than the CAOS Sharpe Ratio of 0.63. The chart below compares the historical Sharpe Ratios of JULW and CAOS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	JULW	CAOS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.47	0.63	+0.84
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.19	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.30	1.26	+0.04

Correlation

The correlation between JULW and CAOS is 0.11, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

JULW vs. CAOS - Dividend Comparison

Neither JULW nor CAOS has paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020
JULW AllianzIM U.S. Large Cap Buffer20 Jul ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.04%
CAOS Alpha Architect Tail Risk ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

JULW vs. CAOS - Drawdown Comparison

The maximum JULW drawdown since its inception was -9.49%, which is greater than CAOS's maximum drawdown of -3.60%. Use the drawdown chart below to compare losses from any high point for JULW and CAOS.

Drawdown Indicators

	JULW	CAOS	Difference
Max Drawdown Largest peak-to-trough decline	-9.49%	-3.60%	-5.89%
Max Drawdown (1Y) Largest decline over 1 year	-6.47%	-3.60%	-2.87%
Max Drawdown (5Y) Largest decline over 5 years	-9.49%	—	—
Current Drawdown Current decline from peak	-1.37%	-0.93%	-0.44%
Average Drawdown Average peak-to-trough decline	-0.94%	-0.90%	-0.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.11%	2.18%	-1.07%

Volatility

JULW vs. CAOS - Volatility Comparison

AllianzIM U.S. Large Cap Buffer20 Jul ETF (JULW) has a higher volatility of 2.41% compared to Alpha Architect Tail Risk ETF (CAOS) at 0.74%. This indicates that JULW'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

	JULW	CAOS	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.41%	0.74%	+1.67%
Volatility (6M) Calculated over the trailing 6-month period	3.45%	1.31%	+2.14%
Volatility (1Y) Calculated over the trailing 1-year period	8.67%	4.68%	+3.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.86%	4.37%	+2.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.61%	4.37%	+2.24%