LYLD vs. GAA

Last updated Jun 4, 2026

LYLD (Cambria Large Cap Shareholder Yield ETF) and GAA (Cambria Global Asset Allocation ETF) are both exchange-traded funds - LYLD is a Large Cap Value Equities fund actively managed by Cambria, while GAA is a Diversified Portfolio fund actively managed by Cambria. Both are actively managed. Over the past year, LYLD returned 20.39% vs 22.62% for GAA. A 0.51 correlation means they provide meaningful diversification when combined. LYLD charges 0.59%/yr vs 0.41%/yr for GAA.

Performance

LYLD vs. GAA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cambria Large Cap Shareholder Yield ETF (LYLD) and Cambria Global Asset Allocation ETF (GAA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LYLD achieves a 8.49% return, which is significantly lower than GAA's 9.39% return.

LYLD

• 1D: -0.51%
• 1M: 0.90%
• YTD: 8.49%
• 6M: 9.53%
• 1Y: 20.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GAA

• 1D: -0.66%
• 1M: 1.35%
• YTD: 9.39%
• 6M: 11.23%
• 1Y: 22.62%
• 3Y*: 14.43%
• 5Y*: 6.37%
• 10Y*: 7.72%

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

LYLD vs. GAA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
LYLD Cambria Large Cap Shareholder Yield ETF	8.49%	12.90%	1.19%
GAA Cambria Global Asset Allocation ETF	9.39%	18.76%	0.22%

Correlation

The correlation between LYLD and GAA is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (All Time) Calculated using the full available price history since Jul 15, 2024	0.51

The correlation between LYLD and GAA has been stable across timeframes, ranging from 0.48 to 0.51 - a consistent structural relationship.

Return for Risk

LYLD vs. GAA — Risk / Return Rank

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

LYLD

LYLD Risk / Return Rank: 54
LYLD Sharpe Ratio Rank: 53
LYLD Sortino Ratio Rank: 56
LYLD Omega Ratio Rank: 51
LYLD Calmar Ratio Rank: 54
LYLD Martin Ratio Rank: 53

GAA

GAA Risk / Return Rank: 76
GAA Sharpe Ratio Rank: 75
GAA Sortino Ratio Rank: 77
GAA Omega Ratio Rank: 76
GAA Calmar Ratio Rank: 77
GAA Martin Ratio Rank: 77

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.

LYLD vs. GAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cambria Large Cap Shareholder Yield ETF (LYLD) and Cambria Global Asset Allocation ETF (GAA). 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.

	LYLD	GAA	Difference
Sharpe ratio: Return per unit of total volatility	1.79	2.48	-0.69
Sortino ratio: Return per unit of downside risk	2.64	3.50	-0.85
Omega ratio: Gain probability vs. loss probability	1.31	1.46	-0.14
Calmar ratio: Return relative to maximum drawdown	2.66	3.93	-1.27
Martin ratio: Return relative to average drawdown	8.90	15.04	-6.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LYLD vs. GAA - Sharpe Ratio Comparison

The current LYLD Sharpe Ratio is 1.79, which is comparable to the GAA Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of LYLD and GAA, 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

	LYLD	GAA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.79	2.48	-0.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.57	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.70	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	0.63	+0.14

Drawdowns

LYLD vs. GAA - Drawdown Comparison

The maximum LYLD drawdown since its inception was -18.64%, smaller than the maximum GAA drawdown of -26.57%. Use the drawdown chart below to compare losses from any high point for LYLD and GAA.

Drawdown Indicators

	LYLD	GAA	Difference
Max Drawdown Largest peak-to-trough decline	-18.64%	-26.57%	+7.93%
Max Drawdown (1Y) Largest decline over 1 year	-7.70%	-5.78%	-1.92%
Max Drawdown (3Y) Largest decline over 3 years	—	-7.18%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.47%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-26.57%	—
Current Drawdown Current decline from peak	-1.68%	-0.66%	-1.02%
Average Drawdown Average peak-to-trough decline	-3.67%	-3.85%	+0.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.30%	1.51%	+0.79%

Volatility

LYLD vs. GAA - Volatility Comparison

The current volatility for Cambria Large Cap Shareholder Yield ETF (LYLD) is 2.19%, while Cambria Global Asset Allocation ETF (GAA) has a volatility of 2.60%. This indicates that LYLD experiences smaller price fluctuations and is considered to be less risky than GAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LYLD	GAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.19%	2.60%	-0.41%
Volatility (6M) Calculated over the trailing 6-month period	7.72%	7.41%	+0.31%
Volatility (1Y) Calculated over the trailing 1-year period	11.45%	9.19%	+2.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.62%	11.28%	+4.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.62%	11.09%	+4.53%

LYLD vs. GAA - Expense Ratio Comparison

LYLD has a 0.59% expense ratio, which is higher than GAA's 0.41% expense ratio.

Dividends

LYLD vs. GAA - Dividend Comparison

LYLD's dividend yield for the trailing twelve months is around 2.64%, less than GAA's 3.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GAA Cambria Global Asset Allocation ETF	3.59%	4.24%	3.88%	3.73%	6.05%	4.21%	2.73%	3.32%	3.01%	2.36%	2.82%	2.49%
LYLD Cambria Large Cap Shareholder Yield ETF	2.64%	2.79%	0.72%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LYLD and GAA in my portfolio?

LYLD and GAA have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LYLD or GAA?

GAA has higher volatility (2.60%) compared to LYLD (2.19%). In terms of maximum drawdown, LYLD dropped -18.64% vs GAA's -26.57%.

Which ETF is better, LYLD or GAA?

On 1-year performance, GAA leads with 22.62% vs 20.39% for LYLD. On fees, GAA is cheaper at 0.41% per year. On volatility, LYLD has been the lower-risk option at 2.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LYLD or GAA?

Over the 1-year period, GAA has performed better with a 22.62% return vs 20.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LYLD or GAA?

GAA is cheaper with a 0.41% expense ratio, compared with 0.59% for LYLD.

Which ETF pays a higher dividend yield, LYLD or GAA?

GAA has the higher dividend yield at 3.59%, compared with 2.64% for LYLD.

What is the main difference between LYLD and GAA?

LYLD is categorized as Large Cap Value Equities, while GAA is Diversified Portfolio. Their fees differ too: 0.59% for LYLD and 0.41% for GAA.

Which has better risk-adjusted returns?

GAA currently has the higher Sharpe Ratio (2.48 vs 1.79), 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.