NODE vs. CAOS

Last updated Aug 1, 2026

NODE (VanEck Onchain Economy ETF) and CAOS (Alpha Architect Tail Risk ETF) are both exchange-traded funds - NODE is a Blockchain fund actively managed by VanEck, while CAOS is a Options Trading fund actively managed by Alpha Architect. Both are actively managed. Over the past year, NODE returned 25.79% vs 1.73% for CAOS. Their -0.22 correlation means they have often moved in opposite directions in the past. NODE charges 0.69%/yr vs 0.63%/yr for CAOS.

Performance

NODE vs. CAOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Onchain Economy ETF (NODE) 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, NODE achieves a 7.73% return, which is significantly higher than CAOS's 0.76% return.

NODE

• 1D: -2.28%
• 1M: -7.11%
• 6M: -1.11%
• YTD: 7.73%
• 1Y: 25.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 33.91%

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
NODE VanEck Onchain Economy ETF	$281.15K	$306.49K	$518.92K

NODE vs. CAOS - Yearly Performance Comparison

	2026 (YTD)	2025
NODE VanEck Onchain Economy ETF	7.73%	32.27%
CAOS Alpha Architect Tail Risk ETF	0.76%	1.71%

Correlation

The correlation between NODE and CAOS is -0.26, 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.	-0.26
Correlation (All Time) Calculated using the full available price history since May 14, 2025	-0.22

Return for Risk

NODE vs. CAOS — Risk / Return Rank

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

NODE

NODE Risk / Return Rank: 22
NODE Sharpe Ratio Rank: 20
NODE Sortino Ratio Rank: 24
NODE Omega Ratio Rank: 23
NODE Calmar Ratio Rank: 21
NODE Martin Ratio Rank: 20

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.

NODE vs. CAOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Onchain Economy ETF (NODE) 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.

	NODE	CAOS	Difference
Sharpe ratio: Return per unit of total volatility	0.40	1.19	-0.79
Sortino ratio: Return per unit of downside risk	0.90	1.89	-1.00
Omega ratio: Gain probability vs. loss probability	1.10	1.24	-0.13
Calmar ratio: Return relative to maximum drawdown	0.57	2.47	-1.90
Martin ratio: Return relative to average drawdown	1.19	5.45	-4.26

NODE vs. CAOS - Sharpe Ratio Comparison

The current NODE Sharpe Ratio is 0.40, which is lower than the CAOS Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of NODE 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

NODE vs. CAOS - Drawdown Comparison

The maximum NODE drawdown since its inception was -35.35%, which is greater than CAOS's maximum drawdown of -3.89%. Use the drawdown chart below to compare losses from any high point for NODE and CAOS.

Drawdown Indicators

	NODE	CAOS	Difference
Max Drawdown Largest peak-to-trough decline	-35.35%	-3.89%	-31.46%
Max Drawdown (1Y) Largest decline over 1 year	-35.35%	-0.76%	-34.59%
Max Drawdown (3Y) Largest decline over 3 years	—	-3.60%	—
Current Drawdown Current decline from peak	-21.12%	-1.13%	-19.99%
Average Drawdown Average peak-to-trough decline	-11.37%	-0.92%	-10.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.88%	0.34%	+16.54%

Volatility

NODE vs. CAOS - Volatility Comparison

VanEck Onchain Economy ETF (NODE) has a higher volatility of 20.06% compared to Alpha Architect Tail Risk ETF (CAOS) at 0.51%. This indicates that NODE'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

	NODE	CAOS	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.06%	0.51%	+19.55%
Volatility (6M) Calculated over the trailing 6-month period	38.93%	1.07%	+37.86%
Volatility (1Y) Calculated over the trailing 1-year period	50.60%	1.57%	+49.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.18%	4.18%	+43.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.18%	4.18%	+43.00%

NODE vs. CAOS - Expense Ratio Comparison

NODE has a 0.69% expense ratio, which is higher than CAOS's 0.63% expense ratio.

Dividends

NODE vs. CAOS - Dividend Comparison

NODE's dividend yield for the trailing twelve months is around 1.04%, while CAOS has not paid dividends to shareholders.

Position	TTM	2025
CAOS Alpha Architect Tail Risk ETF	0.00%	0.00%
NODE VanEck Onchain Economy ETF	1.04%	1.12%

Frequently Asked Questions

Can I hold both NODE and CAOS in my portfolio?

NODE and CAOS have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NODE or CAOS?

NODE has higher volatility (20.06%) compared to CAOS (0.51%). In terms of maximum drawdown, NODE dropped -35.35% vs CAOS's -3.89%.

Which ETF is better, NODE or CAOS?

On 1-year performance, NODE leads with 25.79% vs 1.73% for CAOS. On fees, CAOS is cheaper at 0.63% 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, NODE or CAOS?

Over the 1-year period, NODE has performed better with a 25.79% return vs 1.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NODE or CAOS?

CAOS is cheaper with a 0.63% expense ratio, compared with 0.69% for NODE.

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

NODE has the higher dividend yield at 1.04%, compared with 0.00% for CAOS.

What is the main difference between NODE and CAOS?

NODE is categorized as Blockchain, while CAOS is Options Trading. They also come from different issuers: VanEck and Alpha Architect. Their fees differ too: 0.69% for NODE and 0.63% for CAOS.

Which has better risk-adjusted returns?

CAOS currently has the higher Sharpe Ratio (1.19 vs 0.40), 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.