NACP vs. CAOS
NACP (Impact Shares NAACP Minority Empowerment ETF) and CAOS (Alpha Architect Tail Risk ETF) are both exchange-traded funds - NACP is a Large Cap Growth Equities fund tracking the Morningstar Minority Empowerment Index, while CAOS is a Options Trading fund actively managed by Alpha Architect. NACP is passively managed, while CAOS is actively managed. Over the past 3 years, NACP returned 22.98%/yr vs 3.48%/yr for CAOS. Their 0.06 correlation means their historical movements had little consistent relationship. NACP charges 0.49%/yr vs 0.63%/yr for CAOS.
Performance
NACP vs. CAOS - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, NACP achieves a 18.92% return, which is significantly higher than CAOS's 0.76% return.
NACP
- 1D
- 1.38%
- 1M
- -1.59%
- 6M
- 13.41%
- YTD
- 18.92%
- 1Y
- 36.49%
- 3Y*
- 22.98%
- 5Y*
- 14.39%
- 10Y*
- —
- ALL TIME*
- 16.55%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $6.81M | $5.39M | $5.09M | |
| $77.04K | $84.53K | $140.92K |
NACP vs. CAOS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
NACP Impact Shares NAACP Minority Empowerment ETF | 18.92% | 21.38% | 23.93% | 20.79% |
CAOS Alpha Architect Tail Risk ETF | 0.76% | 2.55% | 5.33% | 7.43% |
Correlation
The correlation between NACP and CAOS is -0.36, 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. | -0.36 |
Correlation (3Y) Balances recent behavior with more history. | -0.07 |
Correlation (All Time) Calculated using the full available price history since Mar 6, 2023 | 0.06 |
The correlation between NACP and CAOS shifts across timeframes, from -0.36 (1 year) to 0.06 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
NACP vs. CAOS — Risk / Return Rank
NACP
CAOS
NACP vs. CAOS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Impact Shares NAACP Minority Empowerment ETF (NACP) 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.
| NACP | CAOS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.92 | ||
| Sortino ratioReturn per unit of downside risk | +0.95 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.24 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.57 | 2.47 | +1.10 |
| Martin ratioReturn relative to average drawdown | 13.75 | 5.45 | +8.31 |
Loading charts...
Drawdowns
NACP vs. CAOS - Drawdown Comparison
The maximum NACP drawdown since its inception was -30.96%, which is greater than CAOS's maximum drawdown of -3.89%. Use the drawdown chart below to compare losses from any high point for NACP and CAOS.
Loading charts...
Drawdown Indicators
| NACP | CAOS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.96% | -3.89% | -27.07% |
Max Drawdown (1Y)Largest decline over 1 year | -9.65% | -0.76% | -8.89% |
Max Drawdown (3Y)Largest decline over 3 years | -19.66% | -3.60% | -16.06% |
Max Drawdown (5Y)Largest decline over 5 years | -27.89% | — | — |
Current DrawdownCurrent decline from peak | -4.06% | -1.13% | -2.93% |
Average DrawdownAverage peak-to-trough decline | -5.68% | -0.92% | -4.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.50% | 0.34% | +2.16% |
Volatility
NACP vs. CAOS - Volatility Comparison
Impact Shares NAACP Minority Empowerment ETF (NACP) has a higher volatility of 5.62% compared to Alpha Architect Tail Risk ETF (CAOS) at 0.51%. This indicates that NACP'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.
Loading charts...
Volatility by Period
| NACP | CAOS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.62% | 0.51% | +5.11% |
Volatility (6M)Calculated over the trailing 6-month period | 13.46% | 1.07% | +12.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.28% | 1.57% | +14.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.84% | 4.18% | +13.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.78% | 4.18% | +14.60% |
NACP vs. CAOS - Expense Ratio Comparison
NACP has a 0.49% expense ratio, which is lower than CAOS's 0.63% expense ratio.
Dividends
NACP vs. CAOS - Dividend Comparison
NACP's dividend yield for the trailing twelve months is around 0.57%, while CAOS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CAOS Alpha Architect Tail Risk ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NACP Impact Shares NAACP Minority Empowerment ETF | 0.57% | 0.62% | 2.96% | 1.28% | 3.48% | 3.06% | 1.48% | 1.22% | 0.71% |
Frequently Asked Questions
NACP and CAOS have a correlation of -0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NACP has higher volatility (5.62%) compared to CAOS (0.51%). In terms of maximum drawdown, NACP dropped -30.96% vs CAOS's -3.89%.
On 3-year performance, NACP leads with 22.98% vs 3.48% for CAOS. On fees, NACP is cheaper at 0.49% 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.
Over the 3-year period, NACP has performed better with a 22.98% return vs 3.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NACP is cheaper with a 0.49% expense ratio, compared with 0.63% for CAOS.
NACP has the higher dividend yield at 0.57%, compared with 0.00% for CAOS.
NACP is categorized as Large Cap Growth Equities, while CAOS is Options Trading. They also come from different issuers: Impact Shares and Alpha Architect. Their fees differ too: 0.49% for NACP and 0.63% for CAOS.
NACP currently has the higher Sharpe Ratio (2.12 vs 1.19), 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.
Find the right allocation for NACP and CAOS
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer