QQQP vs. CAOS

Last updated Aug 1, 2026

QQQP (Tradr 2X Long Triple Q Quarterly ETF) and CAOS (Alpha Architect Tail Risk ETF) are both exchange-traded funds - QQQP is a Leveraged Equities fund actively managed by Tradr, while CAOS is a Options Trading fund actively managed by Alpha Architect. Both are actively managed. Over the past year, QQQP returned 37.33% vs 1.73% for CAOS. Their -0.33 correlation means they have often moved in opposite directions in the past. QQQP charges 1.30%/yr vs 0.63%/yr for CAOS.

Performance

QQQP vs. CAOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Long Triple Q Quarterly ETF (QQQP) 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, QQQP achieves a 15.23% return, which is significantly higher than CAOS's 0.76% return.

QQQP

• 1D: 1.56%
• 1M: -7.63%
• 6M: 13.12%
• YTD: 15.23%
• 1Y: 37.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 31.06%

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
QQQP Tradr 2X Long Triple Q Quarterly ETF	$865.31K	$566.51K	$438.05K

QQQP vs. CAOS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QQQP Tradr 2X Long Triple Q Quarterly ETF	15.23%	30.21%	9.30%
CAOS Alpha Architect Tail Risk ETF	0.76%	2.55%	1.23%

Correlation

The correlation between QQQP and CAOS is -0.33, 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.	-0.33
Correlation (All Time) Calculated using the full available price history since Oct 1, 2024	-0.33

Return for Risk

QQQP vs. CAOS — Risk / Return Rank

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

QQQP

QQQP Risk / Return Rank: 36
QQQP Sharpe Ratio Rank: 34
QQQP Sortino Ratio Rank: 36
QQQP Omega Ratio Rank: 34
QQQP Calmar Ratio Rank: 37
QQQP Martin Ratio Rank: 38

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.

QQQP vs. CAOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long Triple Q Quarterly ETF (QQQP) 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.

	QQQP	CAOS	Difference
Sharpe ratio: Return per unit of total volatility	0.86	1.19	-0.34
Sortino ratio: Return per unit of downside risk	1.35	1.89	-0.54
Omega ratio: Gain probability vs. loss probability	1.16	1.24	-0.08
Calmar ratio: Return relative to maximum drawdown	1.27	2.47	-1.20
Martin ratio: Return relative to average drawdown	4.02	5.45	-1.42

QQQP vs. CAOS - Sharpe Ratio Comparison

The current QQQP Sharpe Ratio is 0.86, which is comparable to the CAOS Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of QQQP 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

QQQP vs. CAOS - Drawdown Comparison

The maximum QQQP drawdown since its inception was -42.50%, which is greater than CAOS's maximum drawdown of -3.89%. Use the drawdown chart below to compare losses from any high point for QQQP and CAOS.

Drawdown Indicators

	QQQP	CAOS	Difference
Max Drawdown Largest peak-to-trough decline	-42.50%	-3.89%	-38.61%
Max Drawdown (1Y) Largest decline over 1 year	-25.35%	-0.76%	-24.59%
Max Drawdown (3Y) Largest decline over 3 years	—	-3.60%	—
Current Drawdown Current decline from peak	-15.47%	-1.13%	-14.34%
Average Drawdown Average peak-to-trough decline	-7.46%	-0.92%	-6.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.01%	0.34%	+7.67%

Volatility

QQQP vs. CAOS - Volatility Comparison

Tradr 2X Long Triple Q Quarterly ETF (QQQP) has a higher volatility of 14.67% compared to Alpha Architect Tail Risk ETF (CAOS) at 0.51%. This indicates that QQQP'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

	QQQP	CAOS	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.67%	0.51%	+14.16%
Volatility (6M) Calculated over the trailing 6-month period	30.88%	1.07%	+29.81%
Volatility (1Y) Calculated over the trailing 1-year period	37.67%	1.57%	+36.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.67%	4.18%	+40.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.67%	4.18%	+40.49%

QQQP vs. CAOS - Expense Ratio Comparison

QQQP has a 1.30% expense ratio, which is higher than CAOS's 0.63% expense ratio.

Dividends

QQQP vs. CAOS - Dividend Comparison

Neither QQQP nor CAOS has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both QQQP and CAOS in my portfolio?

QQQP and CAOS have a correlation of -0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQQP or CAOS?

QQQP has higher volatility (14.67%) compared to CAOS (0.51%). In terms of maximum drawdown, QQQP dropped -42.50% vs CAOS's -3.89%.

Which ETF is better, QQQP or CAOS?

On 1-year performance, QQQP leads with 37.33% 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, QQQP or CAOS?

Over the 1-year period, QQQP has performed better with a 37.33% return vs 1.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQP or CAOS?

CAOS is cheaper with a 0.63% expense ratio, compared with 1.30% for QQQP.

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

QQQP and CAOS have nearly identical dividend yields, around 0.00%.

What is the main difference between QQQP and CAOS?

QQQP is categorized as Leveraged Equities, while CAOS is Options Trading. They also come from different issuers: Tradr and Alpha Architect. Their fees differ too: 1.30% for QQQP and 0.63% for CAOS.

Which has better risk-adjusted returns?

CAOS currently has the higher Sharpe Ratio (1.19 vs 0.86), 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.