SMOT vs. CAOS
SMOT (VanEck Morningstar SMID Moat ETF) and CAOS (Alpha Architect Tail Risk ETF) are both exchange-traded funds - SMOT is a Mid Cap Blend Equities fund tracking the Morningstar US Small-Mid Cap Moat Focus, while CAOS is a Options Trading fund actively managed by Alpha Architect. SMOT is passively managed, while CAOS is actively managed. Over the past 3 years, SMOT returned 9.48%/yr vs 3.48%/yr for CAOS. Their 0.05 correlation means their historical movements had little consistent relationship. SMOT charges 0.49%/yr vs 0.63%/yr for CAOS.
Performance
SMOT vs. CAOS - Performance Comparison
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Returns By Period
In the year-to-date period, SMOT achieves a 9.23% return, which is significantly higher than CAOS's 0.76% return.
SMOT
- 1D
- -1.03%
- 1M
- 0.08%
- 6M
- 7.42%
- YTD
- 9.23%
- 1Y
- 14.58%
- 3Y*
- 9.48%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 12.51%
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 | |
| $1.19M | $994.04K | $961.22K |
SMOT vs. CAOS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SMOT VanEck Morningstar SMID Moat ETF | 9.23% | 6.46% | 10.71% | 6.30% |
CAOS Alpha Architect Tail Risk ETF | 0.76% | 2.55% | 5.33% | 7.43% |
Correlation
The correlation between SMOT and CAOS is -0.27, 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. | -0.27 |
Correlation (3Y) Balances recent behavior with more history. | -0.08 |
Correlation (All Time) Calculated using the full available price history since Mar 6, 2023 | 0.05 |
The correlation between SMOT and CAOS shifts across timeframes, from -0.27 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SMOT vs. CAOS — Risk / Return Rank
SMOT
CAOS
SMOT vs. CAOS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Morningstar SMID Moat ETF (SMOT) 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.
| SMOT | CAOS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.24 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.47 | 2.47 | -1.00 |
| Martin ratioReturn relative to average drawdown | 4.79 | 5.45 | -0.65 |
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Drawdowns
SMOT vs. CAOS - Drawdown Comparison
The maximum SMOT drawdown since its inception was -23.36%, which is greater than CAOS's maximum drawdown of -3.89%. Use the drawdown chart below to compare losses from any high point for SMOT and CAOS.
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Drawdown Indicators
| SMOT | CAOS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.36% | -3.89% | -19.47% |
Max Drawdown (1Y)Largest decline over 1 year | -8.91% | -0.76% | -8.15% |
Max Drawdown (3Y)Largest decline over 3 years | -23.36% | -3.60% | -19.76% |
Current DrawdownCurrent decline from peak | -2.32% | -1.13% | -1.19% |
Average DrawdownAverage peak-to-trough decline | -4.68% | -0.92% | -3.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.73% | 0.34% | +2.39% |
Volatility
SMOT vs. CAOS - Volatility Comparison
VanEck Morningstar SMID Moat ETF (SMOT) has a higher volatility of 4.08% compared to Alpha Architect Tail Risk ETF (CAOS) at 0.51%. This indicates that SMOT'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
| SMOT | CAOS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.08% | 0.51% | +3.57% |
Volatility (6M)Calculated over the trailing 6-month period | 10.21% | 1.07% | +9.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.27% | 1.57% | +12.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.31% | 4.18% | +14.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.31% | 4.18% | +14.13% |
SMOT vs. CAOS - Expense Ratio Comparison
SMOT has a 0.49% expense ratio, which is lower than CAOS's 0.63% expense ratio.
Dividends
SMOT vs. CAOS - Dividend Comparison
SMOT's dividend yield for the trailing twelve months is around 1.26%, while CAOS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CAOS Alpha Architect Tail Risk ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SMOT VanEck Morningstar SMID Moat ETF | 1.26% | 1.37% | 1.18% | 0.65% | 0.24% |
Frequently Asked Questions
SMOT and CAOS have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMOT has higher volatility (4.08%) compared to CAOS (0.51%). In terms of maximum drawdown, SMOT dropped -23.36% vs CAOS's -3.89%.
On 3-year performance, SMOT leads with 9.48% vs 3.48% for CAOS. On fees, SMOT 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.
Over the 3-year period, SMOT has performed better with a 9.48% return vs 3.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SMOT is cheaper with a 0.49% expense ratio, compared with 0.63% for CAOS.
SMOT has the higher dividend yield at 1.26%, compared with 0.00% for CAOS.
SMOT is categorized as Mid Cap Blend Equities, while CAOS is Options Trading. They also come from different issuers: VanEck and Alpha Architect. Their fees differ too: 0.49% for SMOT and 0.63% for CAOS.
CAOS currently has the higher Sharpe Ratio (1.19 vs 0.92), 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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