OCIO vs. GAA
OCIO (ClearShares OCIO ETF) and GAA (Cambria Global Asset Allocation ETF) are both Diversified Portfolio funds. Both are actively managed. Over the past 5 years, OCIO returned 6.76%/yr vs 6.27%/yr for GAA. Their 0.57 correlation means they have sometimes moved together and sometimes differently. OCIO charges 0.61%/yr vs 0.41%/yr for GAA.
Performance
OCIO vs. GAA - Performance Comparison
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Returns By Period
In the year-to-date period, OCIO achieves a 6.90% return, which is significantly lower than GAA's 8.59% return.
OCIO
- 1D
- -0.06%
- 1M
- -1.14%
- 6M
- 4.87%
- YTD
- 6.90%
- 1Y
- 15.24%
- 3Y*
- 11.71%
- 5Y*
- 6.76%
- 10Y*
- —
- ALL TIME*
- 7.60%
GAA
- 1D
- -0.13%
- 1M
- 1.23%
- 6M
- 3.76%
- YTD
- 8.59%
- 1Y
- 18.83%
- 3Y*
- 12.44%
- 5Y*
- 6.27%
- 10Y*
- 7.35%
- ALL TIME*
- 6.60%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $220.71K | $181.13K | $218.77K | |
| $27.53K | $27.13K | $321.99K |
OCIO vs. GAA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OCIO ClearShares OCIO ETF | 6.90% | 12.68% | 12.76% | 12.03% | -12.49% | 13.20% | 11.54% | 18.56% | -10.35% | 8.91% |
GAA Cambria Global Asset Allocation ETF | 8.59% | 18.76% | 6.67% | 7.65% | -8.47% | 11.17% | 9.11% | 15.12% | -7.15% | 7.78% |
Correlation
The correlation between OCIO and GAA is 0.61, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.61 |
Correlation (3Y) Balances recent behavior with more history. | 0.57 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.58 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2017 | 0.57 |
The correlation between OCIO and GAA has been stable across timeframes, ranging from 0.57 to 0.61 - a consistent structural relationship.
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Return for Risk
OCIO vs. GAA — Risk / Return Rank
OCIO
GAA
OCIO vs. GAA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ClearShares OCIO ETF (OCIO) 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.
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.
| OCIO | GAA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.72 | ||
| Sortino ratioReturn per unit of downside risk | -0.96 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.37 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.06 | 3.23 | -1.17 |
| Martin ratioReturn relative to average drawdown | 8.07 | 11.51 | -3.44 |
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Drawdowns
OCIO vs. GAA - Drawdown Comparison
The maximum OCIO drawdown since its inception was -24.21%, smaller than the maximum GAA drawdown of -26.57%. Use the drawdown chart below to compare losses from any high point for OCIO and GAA.
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Drawdown Indicators
| OCIO | GAA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.21% | -26.57% | +2.36% |
Max Drawdown (1Y)Largest decline over 1 year | -6.98% | -5.78% | -1.20% |
Max Drawdown (3Y)Largest decline over 3 years | -13.32% | -7.18% | -6.14% |
Max Drawdown (5Y)Largest decline over 5 years | -18.75% | -18.47% | -0.28% |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.57% | — |
Current DrawdownCurrent decline from peak | -2.82% | -1.39% | -1.43% |
Average DrawdownAverage peak-to-trough decline | -4.39% | -3.82% | -0.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.78% | 1.62% | +0.16% |
Volatility
OCIO vs. GAA - Volatility Comparison
ClearShares OCIO ETF (OCIO) has a higher volatility of 3.89% compared to Cambria Global Asset Allocation ETF (GAA) at 1.83%. This indicates that OCIO's price experiences larger fluctuations and is considered to be riskier than GAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OCIO | GAA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.89% | 1.83% | +2.06% |
Volatility (6M)Calculated over the trailing 6-month period | 9.59% | 7.80% | +1.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.33% | 9.42% | +1.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.90% | 11.31% | -0.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.45% | 11.09% | +0.36% |
OCIO vs. GAA - Expense Ratio Comparison
OCIO has a 0.61% expense ratio, which is higher than GAA's 0.41% expense ratio.
Dividends
OCIO vs. GAA - Dividend Comparison
OCIO's dividend yield for the trailing twelve months is around 9.91%, more than GAA's 3.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GAA Cambria Global Asset Allocation ETF | 3.50% | 4.24% | 3.88% | 3.73% | 6.05% | 4.21% | 2.73% | 3.32% | 3.01% | 2.36% | 2.82% | 2.49% |
OCIO ClearShares OCIO ETF | 9.91% | 10.27% | 1.87% | 2.32% | 3.21% | 2.83% | 2.90% | 2.22% | 0.01% | 1.68% | 0.00% | 0.00% |
Frequently Asked Questions
OCIO and GAA have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OCIO has higher volatility (3.89%) compared to GAA (1.83%). In terms of maximum drawdown, OCIO dropped -24.21% vs GAA's -26.57%.
On 5-year performance, OCIO leads with 6.76% vs 6.27% for GAA. On fees, GAA is cheaper at 0.41% per year. On volatility, GAA has been the lower-risk option at 1.83%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, OCIO has performed better with a 6.76% return vs 6.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GAA is cheaper with a 0.41% expense ratio, compared with 0.61% for OCIO.
OCIO has the higher dividend yield at 9.91%, compared with 3.50% for GAA.
They also come from different issuers: ClearShares and Cambria. Their fees differ too: 0.61% for OCIO and 0.41% for GAA.
GAA currently has the higher Sharpe Ratio (1.99 vs 1.27), 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.
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