JUNT vs. TAIL

Last updated Aug 5, 2026

JUNT (AllianzIM U.S. Large Cap Buffer10 Jun ETF) and TAIL (Cambria Tail Risk ETF) are both exchange-traded funds - JUNT is a Options Trading fund actively managed by Allianz, while TAIL is a Equity Hedged fund actively managed by Cambria. Both are actively managed. Over the past 3 years, JUNT returned 13.61%/yr vs -5.36%/yr for TAIL. Their -0.57 correlation means they have often moved in opposite directions in the past. JUNT charges 0.74%/yr vs 0.59%/yr for TAIL.

Performance

JUNT vs. TAIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Large Cap Buffer10 Jun ETF (JUNT) 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, JUNT achieves a 6.33% return, which is significantly higher than TAIL's -8.48% return.

JUNT

• 1D: 1.15%
• 1M: 2.43%
• 6M: 5.59%
• YTD: 6.33%
• 1Y: 11.90%
• 3Y*: 13.61%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.38%

TAIL

• 1D: 0.10%
• 1M: -2.07%
• 6M: -7.88%
• YTD: -8.48%
• 1Y: -10.52%
• 3Y*: -5.36%
• 5Y*: -9.08%
• 10Y*: —
• ALL TIME*: -7.31%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
JUNT AllianzIM U.S. Large Cap Buffer10 Jun ETF	$363.79K	$342.64K	$1.89M
TAIL Cambria Tail Risk ETF	$1.53M	$1.55M	$2.09M

JUNT vs. TAIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JUNT AllianzIM U.S. Large Cap Buffer10 Jun ETF	6.33%	12.42%	16.03%	10.45%
TAIL Cambria Tail Risk ETF	-8.48%	5.48%	-9.62%	-8.02%

Correlation

The correlation between JUNT and TAIL is -0.68, 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.	-0.68
Correlation (3Y) Balances recent behavior with more history.	-0.60
Correlation (All Time) Calculated using the full available price history since Jun 1, 2023	-0.57

The correlation between JUNT and TAIL shifts across timeframes, from -0.68 (1 year) to -0.57 (all time), reflecting how their relationship changes across market environments.

Return for Risk

JUNT vs. TAIL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

JUNT

JUNT Risk / Return Rank: 74
JUNT Sharpe Ratio Rank: 66
JUNT Sortino Ratio Rank: 69
JUNT Omega Ratio Rank: 77
JUNT Calmar Ratio Rank: 74
JUNT Martin Ratio Rank: 86

TAIL

TAIL Risk / Return Rank: 1
TAIL Sharpe Ratio Rank: 0
TAIL Sortino Ratio Rank: 1
TAIL Omega Ratio Rank: 1
TAIL Calmar Ratio Rank: 3
TAIL Martin Ratio Rank: 0

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

JUNT vs. TAIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Large Cap Buffer10 Jun ETF (JUNT) 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.

	JUNT	TAIL	Difference
Sharpe ratio: Return per unit of total volatility	1.74	-1.27	+3.01
Sortino ratio: Return per unit of downside risk	2.55	-1.78	+4.33
Omega ratio: Gain probability vs. loss probability	1.36	0.80	+0.57
Calmar ratio: Return relative to maximum drawdown	2.93	-0.81	+3.74
Martin ratio: Return relative to average drawdown	13.83	-1.69	+15.52

JUNT vs. TAIL - Sharpe Ratio Comparison

The current JUNT Sharpe Ratio is 1.74, which is higher than the TAIL Sharpe Ratio of -1.27. The chart below compares the historical Sharpe Ratios of JUNT 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.

Drawdowns

JUNT vs. TAIL - Drawdown Comparison

The maximum JUNT drawdown since its inception was -12.78%, smaller than the maximum TAIL drawdown of -52.79%. Use the drawdown chart below to compare losses from any high point for JUNT and TAIL.

Drawdown Indicators

	JUNT	TAIL	Difference
Max Drawdown Largest peak-to-trough decline	-12.78%	-52.79%	+40.01%
Max Drawdown (1Y) Largest decline over 1 year	-4.08%	-13.10%	+9.02%
Max Drawdown (3Y) Largest decline over 3 years	-12.78%	-22.57%	+9.79%
Max Drawdown (5Y) Largest decline over 5 years	—	-38.16%	—
Current Drawdown Current decline from peak	0.00%	-52.75%	+52.75%
Average Drawdown Average peak-to-trough decline	-0.98%	-29.52%	+28.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.86%	6.25%	-5.39%

Volatility

JUNT vs. TAIL - Volatility Comparison

AllianzIM U.S. Large Cap Buffer10 Jun ETF (JUNT) has a higher volatility of 2.92% compared to Cambria Tail Risk ETF (TAIL) at 1.85%. This indicates that JUNT'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

	JUNT	TAIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.92%	1.85%	+1.07%
Volatility (6M) Calculated over the trailing 6-month period	5.97%	6.71%	-0.74%
Volatility (1Y) Calculated over the trailing 1-year period	6.90%	8.38%	-1.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.31%	14.88%	-5.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.31%	14.83%	-5.52%

JUNT vs. TAIL - Expense Ratio Comparison

JUNT has a 0.74% expense ratio, which is higher than TAIL's 0.59% expense ratio.

Dividends

JUNT vs. TAIL - Dividend Comparison

JUNT has not paid dividends to shareholders, while TAIL's dividend yield for the trailing twelve months is around 3.00%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
JUNT AllianzIM U.S. Large Cap Buffer10 Jun ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TAIL Cambria Tail Risk ETF	3.00%	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 JUNT and TAIL in my portfolio?

JUNT and TAIL have a correlation of -0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JUNT or TAIL?

JUNT has higher volatility (2.92%) compared to TAIL (1.85%). In terms of maximum drawdown, JUNT dropped -12.78% vs TAIL's -52.79%.

Which ETF is better, JUNT or TAIL?

On 3-year performance, JUNT leads with 13.61% vs -5.36% for TAIL. On fees, TAIL is cheaper at 0.59% per year. On volatility, TAIL has been the lower-risk option at 1.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JUNT or TAIL?

Over the 3-year period, JUNT has performed better with a 13.61% return vs -5.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JUNT or TAIL?

TAIL is cheaper with a 0.59% expense ratio, compared with 0.74% for JUNT.

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

TAIL has the higher dividend yield at 3.00%, compared with 0.00% for JUNT.

What is the main difference between JUNT and TAIL?

JUNT is categorized as Options Trading, while TAIL is Equity Hedged. They also come from different issuers: Allianz and Cambria. Their fees differ too: 0.74% for JUNT and 0.59% for TAIL.

Which has better risk-adjusted returns?

JUNT currently has the higher Sharpe Ratio (1.74 vs -1.27), 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.