SLYV vs. CAOS
SLYV (SPDR S&P 600 Small Cap Value ETF) and CAOS (Alpha Architect Tail Risk ETF) are both exchange-traded funds - SLYV is a Small Cap Value Equities fund tracking the S&P SmallCap 600 Value Index, while CAOS is a Options Trading fund actively managed by Alpha Architect. SLYV is passively managed, while CAOS is actively managed. Over the past 3 years, SLYV returned 12.50%/yr vs 3.48%/yr for CAOS. Their 0.01 correlation means their historical movements had little consistent relationship. SLYV charges 0.15%/yr vs 0.63%/yr for CAOS.
Performance
SLYV vs. CAOS - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SLYV achieves a 20.36% return, which is significantly higher than CAOS's 0.76% return.
SLYV
- 1D
- 0.14%
- 1M
- 0.37%
- 6M
- 12.96%
- YTD
- 20.36%
- 1Y
- 39.50%
- 3Y*
- 12.50%
- 5Y*
- 8.01%
- 10Y*
- 10.28%
- ALL TIME*
- 10.74%
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 | |
| $16.96M | $15.72M | $22.59M |
SLYV vs. CAOS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SLYV SPDR S&P 600 Small Cap Value ETF | 20.36% | 6.54% | 7.28% | 2.30% |
CAOS Alpha Architect Tail Risk ETF | 0.76% | 2.55% | 5.33% | 7.43% |
Correlation
The correlation between SLYV 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. | -0.12 |
Correlation (All Time) Calculated using the full available price history since Mar 6, 2023 | 0.01 |
The correlation between SLYV and CAOS shifts across timeframes, from -0.30 (1 year) to 0.01 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SLYV vs. CAOS — Risk / Return Rank
SLYV
CAOS
SLYV vs. CAOS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 600 Small Cap Value ETF (SLYV) 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.
| SLYV | CAOS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.91 | ||
| Sortino ratioReturn per unit of downside risk | +1.16 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.24 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 3.96 | 2.47 | +1.49 |
| Martin ratioReturn relative to average drawdown | 13.69 | 5.45 | +8.25 |
Loading charts...
Drawdowns
SLYV vs. CAOS - Drawdown Comparison
The maximum SLYV drawdown since its inception was -61.15%, which is greater than CAOS's maximum drawdown of -3.89%. Use the drawdown chart below to compare losses from any high point for SLYV and CAOS.
Loading charts...
Drawdown Indicators
| SLYV | CAOS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.15% | -3.89% | -57.26% |
Max Drawdown (1Y)Largest decline over 1 year | -9.36% | -0.76% | -8.60% |
Max Drawdown (3Y)Largest decline over 3 years | -28.68% | -3.60% | -25.08% |
Max Drawdown (5Y)Largest decline over 5 years | -28.68% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -47.73% | — | — |
Current DrawdownCurrent decline from peak | -1.54% | -1.13% | -0.41% |
Average DrawdownAverage peak-to-trough decline | -8.89% | -0.92% | -7.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.71% | 0.34% | +2.37% |
Volatility
SLYV vs. CAOS - Volatility Comparison
SPDR S&P 600 Small Cap Value ETF (SLYV) has a higher volatility of 3.53% compared to Alpha Architect Tail Risk ETF (CAOS) at 0.51%. This indicates that SLYV'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.
Loading charts...
Volatility by Period
| SLYV | CAOS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.53% | 0.51% | +3.02% |
Volatility (6M)Calculated over the trailing 6-month period | 11.08% | 1.07% | +10.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.69% | 1.57% | +16.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.69% | 4.18% | +17.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.89% | 4.18% | +19.71% |
SLYV vs. CAOS - Expense Ratio Comparison
SLYV has a 0.15% expense ratio, which is lower than CAOS's 0.63% expense ratio.
Dividends
SLYV vs. CAOS - Dividend Comparison
SLYV's dividend yield for the trailing twelve months is around 1.82%, while CAOS has not 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% |
SLYV SPDR S&P 600 Small Cap Value ETF | 1.82% | 2.02% | 2.30% | 2.11% | 1.47% | 1.94% | 1.40% | 1.67% | 2.14% | 5.53% | 2.18% | 6.55% |
Frequently Asked Questions
SLYV 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.
SLYV has higher volatility (3.53%) compared to CAOS (0.51%). In terms of maximum drawdown, SLYV dropped -61.15% vs CAOS's -3.89%.
On 3-year performance, SLYV leads with 12.50% vs 3.48% for CAOS. On fees, SLYV is cheaper at 0.15% 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, SLYV has performed better with a 12.50% return vs 3.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SLYV is cheaper with a 0.15% expense ratio, compared with 0.63% for CAOS.
SLYV has the higher dividend yield at 1.82%, compared with 0.00% for CAOS.
SLYV is categorized as Small Cap Value Equities, while CAOS is Options Trading. They also come from different issuers: State Street and Alpha Architect. Their fees differ too: 0.15% for SLYV and 0.63% for CAOS.
SLYV currently has the higher Sharpe Ratio (2.10 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.
Find the right allocation for SLYV and CAOS
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer