MVFG vs. CAOS

Last updated Jun 4, 2026

MVFG (Monarch Volume Factor Global Unconstrained ETF) and CAOS (Alpha Architect Tail Risk ETF) are both exchange-traded funds - MVFG is a Global Equities fund tracking the Monarch Volume Factor Global Unconstrained Index, while CAOS is a Options Trading fund actively managed by Alpha Architect. MVFG is passively managed, while CAOS is actively managed. Over the past year, MVFG returned 28.24% vs 1.88% for CAOS. At a correlation of -0.17, they often move in opposite directions. MVFG charges 1.42%/yr vs 0.63%/yr for CAOS.

Performance

MVFG vs. CAOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Monarch Volume Factor Global Unconstrained ETF (MVFG) 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, MVFG achieves a 12.12% return, which is significantly higher than CAOS's 0.82% return.

MVFG

• 1D: -0.77%
• 1M: 3.29%
• YTD: 12.12%
• 6M: 13.45%
• 1Y: 28.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CAOS

• 1D: 0.12%
• 1M: -0.09%
• YTD: 0.82%
• 6M: 0.69%
• 1Y: 1.88%
• 3Y*: 4.26%
• 5Y*: —
• 10Y*: —

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

MVFG vs. CAOS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MVFG Monarch Volume Factor Global Unconstrained ETF	12.12%	20.98%	5.33%
CAOS Alpha Architect Tail Risk ETF	0.82%	2.55%	4.38%

Correlation

The correlation between MVFG and CAOS is -0.29, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.29
Correlation (All Time) Calculated using the full available price history since Mar 8, 2024	-0.17

The correlation between MVFG and CAOS shifts across timeframes, from -0.29 (1 year) to -0.17 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MVFG vs. CAOS — Risk / Return Rank

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

MVFG

MVFG Risk / Return Rank: 43
MVFG Sharpe Ratio Rank: 44
MVFG Sortino Ratio Rank: 42
MVFG Omega Ratio Rank: 46
MVFG Calmar Ratio Rank: 38
MVFG Martin Ratio Rank: 46

CAOS

CAOS Risk / Return Rank: 40
CAOS Sharpe Ratio Rank: 34
CAOS Sortino Ratio Rank: 37
CAOS Omega Ratio Rank: 39
CAOS Calmar Ratio Rank: 49
CAOS Martin Ratio Rank: 39

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.

MVFG vs. CAOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Monarch Volume Factor Global Unconstrained ETF (MVFG) 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.

	MVFG	CAOS	Difference
Sharpe ratio Return per unit of total volatility	1.51	1.24	+0.27
Sortino ratio Return per unit of downside risk	2.09	1.98	+0.12
Omega ratio Gain probability vs. loss probability	1.28	1.26	+0.03
Calmar ratio Return relative to maximum drawdown	1.85	2.49	-0.64
Martin ratio Return relative to average drawdown	7.37	6.22	+1.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MVFG vs. CAOS - Sharpe Ratio Comparison

The current MVFG Sharpe Ratio is 1.51, which is comparable to the CAOS Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of MVFG 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.

Sharpe Ratios by Period

	MVFG	CAOS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.51	1.24	+0.27
Sharpe Ratio (All Time) Calculated using the full available price history	1.13	1.21	-0.08

Drawdowns

MVFG vs. CAOS - Drawdown Comparison

The maximum MVFG drawdown since its inception was -15.34%, which is greater than CAOS's maximum drawdown of -3.60%. Use the drawdown chart below to compare losses from any high point for MVFG and CAOS.

Drawdown Indicators

	MVFG	CAOS	Difference
Max Drawdown Largest peak-to-trough decline	-15.34%	-3.60%	-11.74%
Max Drawdown (1Y) Largest decline over 1 year	-15.34%	-0.76%	-14.58%
Max Drawdown (3Y) Largest decline over 3 years	—	-3.60%	—
Current Drawdown Current decline from peak	-0.77%	-1.07%	+0.30%
Average Drawdown Average peak-to-trough decline	-2.57%	-0.90%	-1.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.84%	0.30%	+3.54%

Volatility

MVFG vs. CAOS - Volatility Comparison

Monarch Volume Factor Global Unconstrained ETF (MVFG) has a higher volatility of 3.74% compared to Alpha Architect Tail Risk ETF (CAOS) at 0.26%. This indicates that MVFG'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

	MVFG	CAOS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.74%	0.26%	+3.48%
Volatility (6M) Calculated over the trailing 6-month period	11.72%	1.03%	+10.69%
Volatility (1Y) Calculated over the trailing 1-year period	18.75%	1.52%	+17.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.39%	4.26%	+11.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.39%	4.26%	+11.13%

MVFG vs. CAOS - Expense Ratio Comparison

MVFG has a 1.42% expense ratio, which is higher than CAOS's 0.63% expense ratio.

Dividends

MVFG vs. CAOS - Dividend Comparison

MVFG's dividend yield for the trailing twelve months is around 1.92%, while CAOS has not paid dividends to shareholders.

Position	TTM	2025	2024
CAOS Alpha Architect Tail Risk ETF	0.00%	0.00%	0.00%
MVFG Monarch Volume Factor Global Unconstrained ETF	1.92%	1.90%	1.67%

Frequently Asked Questions

Can I hold both MVFG and CAOS in my portfolio?

MVFG and CAOS have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MVFG or CAOS?

MVFG has higher volatility (3.74%) compared to CAOS (0.26%). In terms of maximum drawdown, MVFG dropped -15.34% vs CAOS's -3.60%.

Which ETF is better, MVFG or CAOS?

On 1-year performance, MVFG leads with 28.24% vs 1.88% for CAOS. On fees, CAOS is cheaper at 0.63% per year. On volatility, CAOS has been the lower-risk option at 0.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MVFG or CAOS?

Over the 1-year period, MVFG has performed better with a 28.24% return vs 1.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MVFG or CAOS?

CAOS is cheaper with a 0.63% expense ratio, compared with 1.42% for MVFG.

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

MVFG has the higher dividend yield at 1.92%, compared with 0.00% for CAOS.

What is the main difference between MVFG and CAOS?

MVFG is categorized as Global Equities, while CAOS is Options Trading. They also come from different issuers: Monarch and Alpha Architect. Their fees differ too: 1.42% for MVFG and 0.63% for CAOS.

Which has better risk-adjusted returns?

MVFG currently has the higher Sharpe Ratio (1.51 vs 1.24), 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.