PSCT vs. CAOS
PSCT (Invesco S&P SmallCap Information Technology ETF) and CAOS (Alpha Architect Tail Risk ETF) are both exchange-traded funds - PSCT is a Technology Equities fund tracking the S&P SmallCap 600 Information Technology Index, while CAOS is a Options Trading fund actively managed by Alpha Architect. PSCT is passively managed, while CAOS is actively managed. Over the past 3 years, PSCT returned 17.73%/yr vs 3.48%/yr for CAOS. Their -0.00 correlation means they have often moved in opposite directions in the past. PSCT charges 0.29%/yr vs 0.63%/yr for CAOS.
Performance
PSCT vs. CAOS - Performance Comparison
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Returns By Period
In the year-to-date period, PSCT achieves a 40.66% return, which is significantly higher than CAOS's 0.76% return.
PSCT
- 1D
- 0.86%
- 1M
- -5.33%
- 6M
- 33.00%
- YTD
- 40.66%
- 1Y
- 79.83%
- 3Y*
- 17.73%
- 5Y*
- 11.24%
- 10Y*
- 15.18%
- ALL TIME*
- 14.91%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $6.81M | $5.39M | $5.09M | |
| $3.60M | $3.70M | $3.45M |
PSCT vs. CAOS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PSCT Invesco S&P SmallCap Information Technology ETF | 40.66% | 18.63% | -1.06% | 8.79% |
CAOS Alpha Architect Tail Risk ETF | 0.76% | 2.55% | 5.33% | 7.43% |
Correlation
The correlation between PSCT and CAOS is -0.30, 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. | -0.30 |
Correlation (3Y) Balances recent behavior with more history. | -0.10 |
Correlation (All Time) Calculated using the full available price history since Mar 6, 2023 | -0.00 |
Over the past year, the inverse relationship between PSCT and CAOS has strengthened: their correlation has moved from -0.00 to -0.30, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
PSCT vs. CAOS — Risk / Return Rank
PSCT
CAOS
PSCT vs. CAOS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Information Technology ETF (PSCT) 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.
| PSCT | CAOS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.85 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.24 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 4.12 | 2.47 | +1.65 |
| Martin ratioReturn relative to average drawdown | 14.83 | 5.45 | +9.38 |
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Drawdowns
PSCT vs. CAOS - Drawdown Comparison
The maximum PSCT drawdown since its inception was -40.44%, which is greater than CAOS's maximum drawdown of -3.89%. Use the drawdown chart below to compare losses from any high point for PSCT and CAOS.
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Drawdown Indicators
| PSCT | CAOS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.44% | -3.89% | -36.55% |
Max Drawdown (1Y)Largest decline over 1 year | -18.36% | -0.76% | -17.60% |
Max Drawdown (3Y)Largest decline over 3 years | -33.96% | -3.60% | -30.36% |
Max Drawdown (5Y)Largest decline over 5 years | -34.80% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -40.44% | — | — |
Current DrawdownCurrent decline from peak | -13.84% | -1.13% | -12.71% |
Average DrawdownAverage peak-to-trough decline | -7.91% | -0.92% | -6.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.10% | 0.34% | +4.76% |
Volatility
PSCT vs. CAOS - Volatility Comparison
Invesco S&P SmallCap Information Technology ETF (PSCT) has a higher volatility of 12.05% compared to Alpha Architect Tail Risk ETF (CAOS) at 0.51%. This indicates that PSCT'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.
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Volatility by Period
| PSCT | CAOS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.05% | 0.51% | +11.54% |
Volatility (6M)Calculated over the trailing 6-month period | 26.46% | 1.07% | +25.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.06% | 1.57% | +32.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.61% | 4.18% | +24.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.13% | 4.18% | +22.95% |
PSCT vs. CAOS - Expense Ratio Comparison
PSCT has a 0.29% expense ratio, which is lower than CAOS's 0.63% expense ratio.
Dividends
PSCT vs. CAOS - Dividend Comparison
Neither PSCT nor CAOS has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CAOS Alpha Architect Tail Risk ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PSCT Invesco S&P SmallCap Information Technology ETF | 0.00% | 0.02% | 0.01% | 0.02% | 0.00% | 0.01% | 0.08% | 0.22% | 0.47% | 0.19% | 0.25% | 0.15% |
Frequently Asked Questions
PSCT and CAOS have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PSCT has higher volatility (12.05%) compared to CAOS (0.51%). In terms of maximum drawdown, PSCT dropped -40.44% vs CAOS's -3.89%.
On 3-year performance, PSCT leads with 17.73% vs 3.48% for CAOS. On fees, PSCT is cheaper at 0.29% 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, PSCT has performed better with a 17.73% return vs 3.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PSCT is cheaper with a 0.29% expense ratio, compared with 0.63% for CAOS.
PSCT and CAOS have nearly identical dividend yields, around 0.00%.
PSCT is categorized as Technology Equities, while CAOS is Options Trading. They also come from different issuers: Invesco and Alpha Architect. Their fees differ too: 0.29% for PSCT and 0.63% for CAOS.
PSCT currently has the higher Sharpe Ratio (2.23 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.
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