OASC vs. CAOS

Last updated Jun 4, 2026

OASC (OneAscent Enhanced Small and Mid Cap ETF) and CAOS (Alpha Architect Tail Risk ETF) are both exchange-traded funds - OASC is a Small Cap Blend Equities fund actively managed by Oneascent, while CAOS is a Options Trading fund actively managed by Alpha Architect. Both are actively managed. Over the past year, OASC returned 36.18% vs 1.88% for CAOS. At a correlation of -0.33, they often move in opposite directions. OASC charges 0.69%/yr vs 0.63%/yr for CAOS.

Performance

OASC vs. CAOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in OneAscent Enhanced Small and Mid Cap ETF (OASC) 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, OASC achieves a 16.43% return, which is significantly higher than CAOS's 0.82% return.

OASC

• 1D: -0.70%
• 1M: 3.98%
• YTD: 16.43%
• 6M: 17.89%
• 1Y: 36.18%
• 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)

OASC vs. CAOS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
OASC OneAscent Enhanced Small and Mid Cap ETF	16.43%	8.91%	10.35%
CAOS Alpha Architect Tail Risk ETF	0.82%	2.55%	3.35%

Correlation

The correlation between OASC and CAOS is -0.32, 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	-0.32
Correlation (All Time) Calculated using the full available price history since Jun 14, 2024	-0.33

OASC vs. CAOS - Sectors Allocation Comparison

Sectors	OASC	CAOS
Technology	25.1%	33.1%
Financial Services	23.4%	12.4%
Healthcare	12.6%	9.6%
Consumer Cyclical	11.5%	10.0%
Industrials	11.3%	8.5%
Basic Materials	5.3%	1.9%
Energy	3.6%	4.1%
Utilities	2.2%	2.6%
Real Estate	2.1%	2.0%
Consumer Defensive	1.6%	5.4%
Communication Services	1.3%	10.4%

Return for Risk

OASC vs. CAOS — Risk / Return Rank

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

OASC

OASC Risk / Return Rank: 70
OASC Sharpe Ratio Rank: 61
OASC Sortino Ratio Rank: 63
OASC Omega Ratio Rank: 57
OASC Calmar Ratio Rank: 86
OASC Martin Ratio Rank: 81

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.

OASC vs. CAOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for OneAscent Enhanced Small and Mid Cap ETF (OASC) 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.

	OASC	CAOS	Difference
Sharpe ratio: Return per unit of total volatility	2.02	1.24	+0.78
Sortino ratio: Return per unit of downside risk	2.91	1.98	+0.93
Omega ratio: Gain probability vs. loss probability	1.34	1.26	+0.09
Calmar ratio: Return relative to maximum drawdown	4.74	2.49	+2.25
Martin ratio: Return relative to average drawdown	15.82	6.22	+9.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OASC vs. CAOS - Sharpe Ratio Comparison

The current OASC Sharpe Ratio is 2.02, which is higher than the CAOS Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of OASC 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

	OASC	CAOS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.02	1.24	+0.78
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	1.21	-0.31

Drawdowns

OASC vs. CAOS - Drawdown Comparison

The maximum OASC drawdown since its inception was -27.00%, which is greater than CAOS's maximum drawdown of -3.60%. Use the drawdown chart below to compare losses from any high point for OASC and CAOS.

Drawdown Indicators

	OASC	CAOS	Difference
Max Drawdown Largest peak-to-trough decline	-27.00%	-3.60%	-23.40%
Max Drawdown (1Y) Largest decline over 1 year	-7.67%	-0.76%	-6.91%
Max Drawdown (3Y) Largest decline over 3 years	—	-3.60%	—
Current Drawdown Current decline from peak	-0.70%	-1.07%	+0.37%
Average Drawdown Average peak-to-trough decline	-6.06%	-0.90%	-5.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.29%	0.30%	+1.99%

Volatility

OASC vs. CAOS - Volatility Comparison

OneAscent Enhanced Small and Mid Cap ETF (OASC) has a higher volatility of 5.13% compared to Alpha Architect Tail Risk ETF (CAOS) at 0.26%. This indicates that OASC'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

	OASC	CAOS	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.13%	0.26%	+4.87%
Volatility (6M) Calculated over the trailing 6-month period	12.22%	1.03%	+11.19%
Volatility (1Y) Calculated over the trailing 1-year period	18.04%	1.52%	+16.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.95%	4.26%	+16.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.95%	4.26%	+16.69%

OASC vs. CAOS - Expense Ratio Comparison

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

Dividends

OASC vs. CAOS - Dividend Comparison

OASC's dividend yield for the trailing twelve months is around 0.46%, while CAOS has not paid dividends to shareholders.

Position	TTM	2025	2024
CAOS Alpha Architect Tail Risk ETF	0.00%	0.00%	0.00%
OASC OneAscent Enhanced Small and Mid Cap ETF	0.46%	0.53%	0.46%

Frequently Asked Questions

Can I hold both OASC and CAOS in my portfolio?

OASC 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, OASC or CAOS?

OASC has higher volatility (5.13%) compared to CAOS (0.26%). In terms of maximum drawdown, OASC dropped -27.00% vs CAOS's -3.60%.

Which ETF is better, OASC or CAOS?

On 1-year performance, OASC leads with 36.18% 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, OASC or CAOS?

Over the 1-year period, OASC has performed better with a 36.18% return vs 1.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OASC or CAOS?

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

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

OASC has the higher dividend yield at 0.46%, compared with 0.00% for CAOS.

What is the main difference between OASC and CAOS?

OASC is categorized as Small Cap Blend Equities, while CAOS is Options Trading. They also come from different issuers: Oneascent and Alpha Architect. Their fees differ too: 0.69% for OASC and 0.63% for CAOS.

Which has better risk-adjusted returns?

OASC currently has the higher Sharpe Ratio (2.02 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.