SHY vs. CAOS
Compare and contrast key facts about iShares 1-3 Year Treasury Bond ETF (SHY) and Alpha Architect Tail Risk ETF (CAOS).
SHY and CAOS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SHY is a passively managed fund by iShares that tracks the performance of the Barclays Capital U.S. 1-3 Year Treasury Bond Index. It was launched on Jul 22, 2002. CAOS is an actively managed fund by Alpha Architect. It was launched on Aug 14, 2013.
Performance
SHY vs. CAOS - Performance Comparison
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SHY vs. CAOS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SHY iShares 1-3 Year Treasury Bond ETF | 0.27% | 4.95% | 3.92% | 4.34% |
CAOS Alpha Architect Tail Risk ETF | 1.10% | 2.55% | 5.33% | 7.97% |
Returns By Period
In the year-to-date period, SHY achieves a 0.27% return, which is significantly lower than CAOS's 1.10% return.
SHY
- 1D
- 0.08%
- 1M
- -0.47%
- YTD
- 0.27%
- 6M
- 1.34%
- 1Y
- 3.61%
- 3Y*
- 3.88%
- 5Y*
- 1.70%
- 10Y*
- 1.65%
CAOS
- 1D
- 0.07%
- 1M
- 0.43%
- YTD
- 1.10%
- 6M
- 1.37%
- 1Y
- 3.19%
- 3Y*
- 5.46%
- 5Y*
- —
- 10Y*
- —
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SHY vs. CAOS - Expense Ratio Comparison
SHY has a 0.15% expense ratio, which is lower than CAOS's 0.63% expense ratio.
Return for Risk
SHY vs. CAOS — Risk / Return Rank
SHY
CAOS
SHY vs. CAOS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 1-3 Year Treasury Bond ETF (SHY) 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.
| SHY | CAOS | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.50 | 0.69 | +1.82 |
Sortino ratioReturn per unit of downside risk | 4.12 | 0.97 | +3.15 |
Omega ratioGain probability vs. loss probability | 1.52 | 1.26 | +0.27 |
Calmar ratioReturn relative to maximum drawdown | 4.15 | 0.83 | +3.32 |
Martin ratioReturn relative to average drawdown | 16.03 | 1.38 | +14.65 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SHY | CAOS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.50 | 0.69 | +1.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.87 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.06 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.29 | 1.27 | +0.02 |
Correlation
The correlation between SHY and CAOS is 0.02, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
SHY vs. CAOS - Dividend Comparison
SHY's dividend yield for the trailing twelve months is around 3.75%, while CAOS has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHY iShares 1-3 Year Treasury Bond ETF | 3.75% | 3.81% | 3.92% | 2.99% | 1.30% | 0.26% | 0.94% | 2.12% | 1.72% | 0.98% | 0.71% | 0.54% |
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% |
Drawdowns
SHY vs. CAOS - Drawdown Comparison
The maximum SHY drawdown since its inception was -5.71%, which is greater than CAOS's maximum drawdown of -3.60%. Use the drawdown chart below to compare losses from any high point for SHY and CAOS.
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Drawdown Indicators
| SHY | CAOS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.71% | -3.60% | -2.11% |
Max Drawdown (1Y)Largest decline over 1 year | -0.89% | -3.60% | +2.71% |
Max Drawdown (5Y)Largest decline over 5 years | -5.71% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -5.71% | — | — |
Current DrawdownCurrent decline from peak | -0.47% | -0.80% | +0.33% |
Average DrawdownAverage peak-to-trough decline | -0.52% | -0.90% | +0.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.23% | 2.18% | -1.95% |
Volatility
SHY vs. CAOS - Volatility Comparison
The current volatility for iShares 1-3 Year Treasury Bond ETF (SHY) is 0.58%, while Alpha Architect Tail Risk ETF (CAOS) has a volatility of 0.74%. This indicates that SHY experiences smaller price fluctuations and is considered to be less risky 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
| SHY | CAOS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.58% | 0.74% | -0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 0.89% | 1.30% | -0.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.45% | 4.68% | -3.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.97% | 4.37% | -2.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.56% | 4.37% | -2.81% |