LOWV vs. CAOS

Last updated Aug 2, 2026

LOWV (AB US Low Volatility Equity ETF) and CAOS (Alpha Architect Tail Risk ETF) are both exchange-traded funds - LOWV is a Low Volatility fund actively managed by AllianceBernstein, while CAOS is a Options Trading fund actively managed by Alpha Architect. Both are actively managed. Over the past 3 years, LOWV returned 14.74%/yr vs 3.48%/yr for CAOS. Their 0.07 correlation means their historical movements had little consistent relationship. LOWV charges 0.48%/yr vs 0.63%/yr for CAOS.

Performance

LOWV vs. CAOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AB US Low Volatility Equity ETF (LOWV) 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, LOWV achieves a 5.85% return, which is significantly higher than CAOS's 0.76% return.

LOWV

• 1D: 0.93%
• 1M: 2.67%
• 6M: 5.32%
• YTD: 5.85%
• 1Y: 11.55%
• 3Y*: 14.74%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 17.14%

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%

*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)
CAOS Alpha Architect Tail Risk ETF	$6.81M	$5.39M	$5.09M
LOWV AB US Low Volatility Equity ETF	$248.27K	$453.80K	$603.81K

LOWV vs. CAOS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
LOWV AB US Low Volatility Equity ETF	5.85%	12.26%	20.43%	18.90%
CAOS Alpha Architect Tail Risk ETF	0.76%	2.55%	5.33%	8.33%

Correlation

The correlation between LOWV and CAOS is -0.32, 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.	-0.32
Correlation (3Y) Balances recent behavior with more history.	-0.04
Correlation (All Time) Calculated using the full available price history since Mar 22, 2023	0.07

The correlation between LOWV and CAOS shifts across timeframes, from -0.32 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.

Return for Risk

LOWV vs. CAOS — Risk / Return Rank

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

LOWV

LOWV Risk / Return Rank: 37
LOWV Sharpe Ratio Rank: 39
LOWV Sortino Ratio Rank: 37
LOWV Omega Ratio Rank: 35
LOWV Calmar Ratio Rank: 32
LOWV Martin Ratio Rank: 40

CAOS

CAOS Risk / Return Rank: 56
CAOS Sharpe Ratio Rank: 49
CAOS Sortino Ratio Rank: 55
CAOS Omega Ratio Rank: 54
CAOS Calmar Ratio Rank: 72
CAOS Martin Ratio Rank: 48

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.

LOWV vs. CAOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AB US Low Volatility Equity ETF (LOWV) 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.

	LOWV	CAOS	Difference
Sharpe ratio: Return per unit of total volatility	0.97	1.19	-0.22
Sortino ratio: Return per unit of downside risk	1.39	1.89	-0.51
Omega ratio: Gain probability vs. loss probability	1.17	1.24	-0.07
Calmar ratio: Return relative to maximum drawdown	1.07	2.47	-1.40
Martin ratio: Return relative to average drawdown	4.25	5.45	-1.19

LOWV vs. CAOS - Sharpe Ratio Comparison

The current LOWV Sharpe Ratio is 0.97, which is comparable to the CAOS Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of LOWV 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

LOWV vs. CAOS - Drawdown Comparison

The maximum LOWV drawdown since its inception was -13.87%, which is greater than CAOS's maximum drawdown of -3.89%. Use the drawdown chart below to compare losses from any high point for LOWV and CAOS.

Drawdown Indicators

	LOWV	CAOS	Difference
Max Drawdown Largest peak-to-trough decline	-13.87%	-3.89%	-9.98%
Max Drawdown (1Y) Largest decline over 1 year	-9.59%	-0.76%	-8.83%
Max Drawdown (3Y) Largest decline over 3 years	-13.87%	-3.60%	-10.27%
Current Drawdown Current decline from peak	0.00%	-1.13%	+1.13%
Average Drawdown Average peak-to-trough decline	-1.49%	-0.92%	-0.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.41%	0.34%	+2.07%

Volatility

LOWV vs. CAOS - Volatility Comparison

AB US Low Volatility Equity ETF (LOWV) has a higher volatility of 2.56% compared to Alpha Architect Tail Risk ETF (CAOS) at 0.51%. This indicates that LOWV'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

	LOWV	CAOS	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.56%	0.51%	+2.05%
Volatility (6M) Calculated over the trailing 6-month period	7.89%	1.07%	+6.82%
Volatility (1Y) Calculated over the trailing 1-year period	10.58%	1.57%	+9.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.87%	4.18%	+7.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.87%	4.18%	+7.69%

LOWV vs. CAOS - Expense Ratio Comparison

LOWV has a 0.48% expense ratio, which is lower than CAOS's 0.63% expense ratio.

Dividends

LOWV vs. CAOS - Dividend Comparison

LOWV's dividend yield for the trailing twelve months is around 0.86%, while CAOS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
CAOS Alpha Architect Tail Risk ETF	0.00%	0.00%	0.00%	0.00%
LOWV AB US Low Volatility Equity ETF	0.86%	0.85%	0.92%	0.77%

Frequently Asked Questions

Can I hold both LOWV and CAOS in my portfolio?

LOWV and CAOS have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LOWV or CAOS?

LOWV has higher volatility (2.56%) compared to CAOS (0.51%). In terms of maximum drawdown, LOWV dropped -13.87% vs CAOS's -3.89%.

Which ETF is better, LOWV or CAOS?

On 3-year performance, LOWV leads with 14.74% vs 3.48% for CAOS. On fees, LOWV is cheaper at 0.48% 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.

Which ETF has performed better, LOWV or CAOS?

Over the 3-year period, LOWV has performed better with a 14.74% return vs 3.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LOWV or CAOS?

LOWV is cheaper with a 0.48% expense ratio, compared with 0.63% for CAOS.

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

LOWV has the higher dividend yield at 0.86%, compared with 0.00% for CAOS.

What is the main difference between LOWV and CAOS?

LOWV is categorized as Low Volatility, while CAOS is Options Trading. They also come from different issuers: AllianceBernstein and Alpha Architect. Their fees differ too: 0.48% for LOWV and 0.63% for CAOS.

Which has better risk-adjusted returns?

CAOS currently has the higher Sharpe Ratio (1.19 vs 0.97), 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.