SATO vs. CAOS
SATO (Invesco Alerian Galaxy Crypto Economy ETF) and CAOS (Alpha Architect Tail Risk ETF) are both exchange-traded funds - SATO is a Cryptocurrency fund tracking the Alerian Galaxy Global Cryptocurrency-Focused Blockchain Equity, Trusts and ETPs Index, while CAOS is a Options Trading fund actively managed by Alpha Architect. SATO is passively managed, while CAOS is actively managed. Over the past 3 years, SATO returned 21.83%/yr vs 3.48%/yr for CAOS. Their -0.03 correlation means they have often moved in opposite directions in the past. SATO charges 0.60%/yr vs 0.63%/yr for CAOS.
Performance
SATO vs. CAOS - Performance Comparison
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Returns By Period
In the year-to-date period, SATO achieves a -13.37% return, which is significantly lower than CAOS's 0.76% return.
SATO
- 1D
- -3.22%
- 1M
- -4.42%
- 6M
- -16.14%
- YTD
- -13.37%
- 1Y
- -18.39%
- 3Y*
- 21.83%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -3.90%
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 | |
| $33.71K | $38.05K | $74.17K |
SATO vs. CAOS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SATO Invesco Alerian Galaxy Crypto Economy ETF | -13.37% | 2.26% | 55.25% | 158.97% |
CAOS Alpha Architect Tail Risk ETF | 0.76% | 2.55% | 5.33% | 7.43% |
Correlation
The correlation between SATO and CAOS is -0.26, 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. | -0.26 |
Correlation (3Y) Balances recent behavior with more history. | -0.11 |
Correlation (All Time) Calculated using the full available price history since Mar 6, 2023 | -0.03 |
Over the past year, the inverse relationship between SATO and CAOS has strengthened: their correlation has moved from -0.03 to -0.26, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
SATO vs. CAOS — Risk / Return Rank
SATO
CAOS
SATO vs. CAOS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Alerian Galaxy Crypto Economy ETF (SATO) 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.
| SATO | CAOS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.62 | ||
| Sortino ratioReturn per unit of downside risk | -2.20 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.24 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.42 | 2.47 | -2.89 |
| Martin ratioReturn relative to average drawdown | -0.67 | 5.45 | -6.12 |
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Drawdowns
SATO vs. CAOS - Drawdown Comparison
The maximum SATO drawdown since its inception was -88.00%, which is greater than CAOS's maximum drawdown of -3.89%. Use the drawdown chart below to compare losses from any high point for SATO and CAOS.
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Drawdown Indicators
| SATO | CAOS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.00% | -3.89% | -84.11% |
Max Drawdown (1Y)Largest decline over 1 year | -53.49% | -0.76% | -52.73% |
Max Drawdown (3Y)Largest decline over 3 years | -53.49% | -3.60% | -49.89% |
Current DrawdownCurrent decline from peak | -46.92% | -1.13% | -45.79% |
Average DrawdownAverage peak-to-trough decline | -50.68% | -0.92% | -49.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.62% | 0.34% | +33.28% |
Volatility
SATO vs. CAOS - Volatility Comparison
Invesco Alerian Galaxy Crypto Economy ETF (SATO) has a higher volatility of 16.55% compared to Alpha Architect Tail Risk ETF (CAOS) at 0.51%. This indicates that SATO'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
| SATO | CAOS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.55% | 0.51% | +16.04% |
Volatility (6M)Calculated over the trailing 6-month period | 39.43% | 1.07% | +38.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 53.26% | 1.57% | +51.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 62.98% | 4.18% | +58.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.98% | 4.18% | +58.80% |
SATO vs. CAOS - Expense Ratio Comparison
SATO has a 0.60% expense ratio, which is lower than CAOS's 0.63% expense ratio.
Dividends
SATO vs. CAOS - Dividend Comparison
SATO's dividend yield for the trailing twelve months is around 7.74%, while CAOS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
CAOS Alpha Architect Tail Risk ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SATO Invesco Alerian Galaxy Crypto Economy ETF | 7.74% | 9.50% | 15.03% | 2.21% | 8.97% | 0.73% |
Frequently Asked Questions
SATO and CAOS have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SATO has higher volatility (16.55%) compared to CAOS (0.51%). In terms of maximum drawdown, SATO dropped -88.00% vs CAOS's -3.89%.
On 3-year performance, SATO leads with 21.83% vs 3.48% for CAOS. On fees, SATO is cheaper at 0.60% 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, SATO has performed better with a 21.83% return vs 3.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SATO is cheaper with a 0.60% expense ratio, compared with 0.63% for CAOS.
SATO has the higher dividend yield at 7.74%, compared with 0.00% for CAOS.
SATO is categorized as Cryptocurrency, while CAOS is Options Trading. They also come from different issuers: Invesco and Alpha Architect. Their fees differ too: 0.60% for SATO and 0.63% for CAOS.
CAOS currently has the higher Sharpe Ratio (1.19 vs -0.42), 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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