SYFI vs. CAOS

Last updated Aug 2, 2026

SYFI (AB Short Duration High Yield ETF) and CAOS (Alpha Architect Tail Risk ETF) are both exchange-traded funds - SYFI is a High Yield Bonds fund actively managed by AllianceBernstein, while CAOS is a Options Trading fund actively managed by Alpha Architect. Both are actively managed. Over the past year, SYFI returned 5.40% vs 1.73% for CAOS. Their -0.22 correlation means they have often moved in opposite directions in the past. SYFI charges 0.40%/yr vs 0.63%/yr for CAOS.

Performance

SYFI vs. CAOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AB Short Duration High Yield ETF (SYFI) 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, SYFI achieves a 2.22% return, which is significantly higher than CAOS's 0.76% return.

SYFI

• 1D: 0.00%
• 1M: 0.14%
• 6M: 1.77%
• YTD: 2.22%
• 1Y: 5.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.83%

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
SYFI AB Short Duration High Yield ETF	$3.60M	$3.33M	$4.18M

SYFI vs. CAOS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SYFI AB Short Duration High Yield ETF	2.22%	7.19%	5.12%
CAOS Alpha Architect Tail Risk ETF	0.76%	2.55%	3.39%

Correlation

The correlation between SYFI 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 Jun 10, 2024	-0.22

Return for Risk

SYFI vs. CAOS — Risk / Return Rank

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

SYFI

SYFI Risk / Return Rank: 76
SYFI Sharpe Ratio Rank: 71
SYFI Sortino Ratio Rank: 76
SYFI Omega Ratio Rank: 75
SYFI Calmar Ratio Rank: 75
SYFI Martin Ratio Rank: 85

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.

SYFI vs. CAOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AB Short Duration High Yield ETF (SYFI) 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.

	SYFI	CAOS	Difference
Sharpe ratio: Return per unit of total volatility	1.64	1.19	+0.45
Sortino ratio: Return per unit of downside risk	2.46	1.89	+0.57
Omega ratio: Gain probability vs. loss probability	1.32	1.24	+0.08
Calmar ratio: Return relative to maximum drawdown	2.66	2.47	+0.19
Martin ratio: Return relative to average drawdown	12.10	5.45	+6.65

SYFI vs. CAOS - Sharpe Ratio Comparison

The current SYFI Sharpe Ratio is 1.64, which is higher than the CAOS Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of SYFI 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

SYFI vs. CAOS - Drawdown Comparison

The maximum SYFI drawdown since its inception was -4.49%, which is greater than CAOS's maximum drawdown of -3.89%. Use the drawdown chart below to compare losses from any high point for SYFI and CAOS.

Drawdown Indicators

	SYFI	CAOS	Difference
Max Drawdown Largest peak-to-trough decline	-4.49%	-3.89%	-0.60%
Max Drawdown (1Y) Largest decline over 1 year	-1.94%	-0.76%	-1.18%
Max Drawdown (3Y) Largest decline over 3 years	—	-3.60%	—
Current Drawdown Current decline from peak	-0.03%	-1.13%	+1.10%
Average Drawdown Average peak-to-trough decline	-0.34%	-0.92%	+0.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.43%	0.34%	+0.09%

Volatility

SYFI vs. CAOS - Volatility Comparison

AB Short Duration High Yield ETF (SYFI) has a higher volatility of 0.60% compared to Alpha Architect Tail Risk ETF (CAOS) at 0.51%. This indicates that SYFI'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

	SYFI	CAOS	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.60%	0.51%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	2.53%	1.07%	+1.46%
Volatility (1Y) Calculated over the trailing 1-year period	3.16%	1.57%	+1.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.12%	4.18%	-0.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.12%	4.18%	-0.06%

SYFI vs. CAOS - Expense Ratio Comparison

SYFI has a 0.40% expense ratio, which is lower than CAOS's 0.63% expense ratio.

Dividends

SYFI vs. CAOS - Dividend Comparison

SYFI's dividend yield for the trailing twelve months is around 6.04%, while CAOS has not paid dividends to shareholders.

Position	TTM	2025	2024
CAOS Alpha Architect Tail Risk ETF	0.00%	0.00%	0.00%
SYFI AB Short Duration High Yield ETF	5.51%	6.20%	3.26%

Frequently Asked Questions

Can I hold both SYFI and CAOS in my portfolio?

SYFI 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, SYFI or CAOS?

SYFI has higher volatility (0.60%) compared to CAOS (0.51%). In terms of maximum drawdown, SYFI dropped -4.49% vs CAOS's -3.89%.

Which ETF is better, SYFI or CAOS?

On 1-year performance, SYFI leads with 5.40% vs 1.73% for CAOS. On fees, SYFI is cheaper at 0.40% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SYFI or CAOS?

Over the 1-year period, SYFI has performed better with a 5.40% return vs 1.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SYFI or CAOS?

SYFI is cheaper with a 0.40% expense ratio, compared with 0.63% for CAOS.

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

SYFI has the higher dividend yield at 5.51%, compared with 0.00% for CAOS.

What is the main difference between SYFI and CAOS?

SYFI is categorized as High Yield Bonds, while CAOS is Options Trading. They also come from different issuers: AllianceBernstein and Alpha Architect. Their fees differ too: 0.40% for SYFI and 0.63% for CAOS.

Which has better risk-adjusted returns?

SYFI currently has the higher Sharpe Ratio (1.64 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.