QQWZ vs. CAOS

Last updated Aug 1, 2026

QQWZ (Pacer Cash COWZ 100-Nasdaq 100 Rotator ETF) and CAOS (Alpha Architect Tail Risk ETF) are both exchange-traded funds - QQWZ is a Nasdaq-100 fund actively managed by Pacer, while CAOS is a Options Trading fund actively managed by Alpha Architect. Both are actively managed. Over the past year, QQWZ returned 21.15% vs 1.73% for CAOS. Their -0.24 correlation means they have often moved in opposite directions in the past. QQWZ charges 0.49%/yr vs 0.63%/yr for CAOS.

Performance

QQWZ vs. CAOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Cash COWZ 100-Nasdaq 100 Rotator ETF (QQWZ) 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, QQWZ achieves a 10.12% return, which is significantly higher than CAOS's 0.76% return.

QQWZ

• 1D: 0.73%
• 1M: -3.49%
• 6M: 5.62%
• YTD: 10.12%
• 1Y: 21.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 30.65%

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
QQWZ Pacer Cash COWZ 100-Nasdaq 100 Rotator ETF	$172.82K	$316.10K	$312.95K

QQWZ vs. CAOS - Yearly Performance Comparison

	2026 (YTD)	2025
QQWZ Pacer Cash COWZ 100-Nasdaq 100 Rotator ETF	10.12%	26.23%
CAOS Alpha Architect Tail Risk ETF	0.76%	1.33%

Correlation

The correlation between QQWZ and CAOS is -0.25, 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.	-0.25
Correlation (All Time) Calculated using the full available price history since May 7, 2025	-0.24

Return for Risk

QQWZ vs. CAOS — Risk / Return Rank

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

QQWZ

QQWZ Risk / Return Rank: 47
QQWZ Sharpe Ratio Rank: 45
QQWZ Sortino Ratio Rank: 43
QQWZ Omega Ratio Rank: 44
QQWZ Calmar Ratio Rank: 47
QQWZ Martin Ratio Rank: 55

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.

QQWZ vs. CAOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Cash COWZ 100-Nasdaq 100 Rotator ETF (QQWZ) 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.

	QQWZ	CAOS	Difference
Sharpe ratio: Return per unit of total volatility	1.11	1.19	-0.09
Sortino ratio: Return per unit of downside risk	1.58	1.89	-0.31
Omega ratio: Gain probability vs. loss probability	1.20	1.24	-0.04
Calmar ratio: Return relative to maximum drawdown	1.68	2.47	-0.79
Martin ratio: Return relative to average drawdown	6.42	5.45	+0.97

QQWZ vs. CAOS - Sharpe Ratio Comparison

The current QQWZ Sharpe Ratio is 1.11, which is comparable to the CAOS Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of QQWZ 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

QQWZ vs. CAOS - Drawdown Comparison

The maximum QQWZ drawdown since its inception was -11.30%, which is greater than CAOS's maximum drawdown of -3.89%. Use the drawdown chart below to compare losses from any high point for QQWZ and CAOS.

Drawdown Indicators

	QQWZ	CAOS	Difference
Max Drawdown Largest peak-to-trough decline	-11.30%	-3.89%	-7.41%
Max Drawdown (1Y) Largest decline over 1 year	-11.30%	-0.76%	-10.54%
Max Drawdown (3Y) Largest decline over 3 years	—	-3.60%	—
Current Drawdown Current decline from peak	-7.62%	-1.13%	-6.49%
Average Drawdown Average peak-to-trough decline	-1.78%	-0.92%	-0.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.96%	0.34%	+2.62%

Volatility

QQWZ vs. CAOS - Volatility Comparison

Pacer Cash COWZ 100-Nasdaq 100 Rotator ETF (QQWZ) has a higher volatility of 6.85% compared to Alpha Architect Tail Risk ETF (CAOS) at 0.51%. This indicates that QQWZ'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

	QQWZ	CAOS	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.85%	0.51%	+6.34%
Volatility (6M) Calculated over the trailing 6-month period	13.26%	1.07%	+12.19%
Volatility (1Y) Calculated over the trailing 1-year period	17.20%	1.57%	+15.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.63%	4.18%	+12.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.63%	4.18%	+12.45%

QQWZ vs. CAOS - Expense Ratio Comparison

QQWZ has a 0.49% expense ratio, which is lower than CAOS's 0.63% expense ratio.

Dividends

QQWZ vs. CAOS - Dividend Comparison

QQWZ's dividend yield for the trailing twelve months is around 0.59%, while CAOS has not paid dividends to shareholders.

Position	TTM	2025
CAOS Alpha Architect Tail Risk ETF	0.00%	0.00%
QQWZ Pacer Cash COWZ 100-Nasdaq 100 Rotator ETF	0.59%	0.11%

Frequently Asked Questions

Can I hold both QQWZ and CAOS in my portfolio?

QQWZ and CAOS have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQWZ or CAOS?

QQWZ has higher volatility (6.85%) compared to CAOS (0.51%). In terms of maximum drawdown, QQWZ dropped -11.30% vs CAOS's -3.89%.

Which ETF is better, QQWZ or CAOS?

On 1-year performance, QQWZ leads with 21.15% vs 1.73% for CAOS. On fees, QQWZ is cheaper at 0.49% 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, QQWZ or CAOS?

Over the 1-year period, QQWZ has performed better with a 21.15% return vs 1.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQWZ or CAOS?

QQWZ is cheaper with a 0.49% expense ratio, compared with 0.63% for CAOS.

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

QQWZ has the higher dividend yield at 0.59%, compared with 0.00% for CAOS.

What is the main difference between QQWZ and CAOS?

QQWZ is categorized as Nasdaq-100, while CAOS is Options Trading. They also come from different issuers: Pacer and Alpha Architect. Their fees differ too: 0.49% for QQWZ and 0.63% for CAOS.

Which has better risk-adjusted returns?

CAOS currently has the higher Sharpe Ratio (1.19 vs 1.11), 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.