SYLD vs. TAIL

Last updated Apr 2, 2026

Compare and contrast key facts about Cambria Shareholder Yield ETF (SYLD) and Cambria Tail Risk ETF (TAIL).

SYLD and TAIL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SYLD is an actively managed fund by Cambria. It was launched on May 14, 2013. TAIL is an actively managed fund by Cambria. It was launched on Apr 5, 2017.

Performance

SYLD vs. TAIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cambria Shareholder Yield ETF (SYLD) and Cambria Tail Risk ETF (TAIL). The values are adjusted to include any dividend payments, if applicable.

SYLD vs. TAIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SYLD Cambria Shareholder Yield ETF	8.84%	3.94%	3.37%	16.46%	-6.14%	48.59%	13.61%	26.98%	-13.51%	13.17%
TAIL Cambria Tail Risk ETF	1.76%	5.48%	-9.62%	-13.29%	-13.13%	-12.81%	6.91%	-14.27%	2.85%	-7.70%

Returns By Period

In the year-to-date period, SYLD achieves a 8.84% return, which is significantly higher than TAIL's 1.76% return.

SYLD

• 1D: -0.24%
• 1M: -0.99%
• YTD: 8.84%
• 6M: 10.16%
• 1Y: 19.64%
• 3Y*: 10.85%
• 5Y*: 6.81%
• 10Y*: 12.42%

TAIL

• 1D: -0.81%
• 1M: 0.32%
• YTD: 1.76%
• 6M: -0.24%
• 1Y: 1.75%
• 3Y*: -4.58%
• 5Y*: -6.94%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SYLD vs. TAIL - Expense Ratio Comparison

Both SYLD and TAIL have an expense ratio of 0.59%.

SYLD

Cambria Shareholder Yield ETF

TAIL

Cambria Tail Risk ETF

Return for Risk

SYLD vs. TAIL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SYLD

SYLD Risk / Return Rank: 50
SYLD Sharpe Ratio Rank: 48
SYLD Sortino Ratio Rank: 52
SYLD Omega Ratio Rank: 48
SYLD Calmar Ratio Rank: 51
SYLD Martin Ratio Rank: 52

TAIL

TAIL Risk / Return Rank: 14
TAIL Sharpe Ratio Rank: 14
TAIL Sortino Ratio Rank: 14
TAIL Omega Ratio Rank: 15
TAIL Calmar Ratio Rank: 14
TAIL Martin Ratio Rank: 13

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SYLD vs. TAIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cambria Shareholder Yield ETF (SYLD) and Cambria Tail Risk ETF (TAIL). 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.

	SYLD	TAIL	Difference
Sharpe ratio Return per unit of total volatility	0.92	0.10	+0.82
Sortino ratio Return per unit of downside risk	1.45	0.30	+1.14
Omega ratio Gain probability vs. loss probability	1.19	1.05	+0.14
Calmar ratio Return relative to maximum drawdown	1.37	0.11	+1.26
Martin ratio Return relative to average drawdown	5.33	0.13	+5.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SYLD vs. TAIL - Sharpe Ratio Comparison

The current SYLD Sharpe Ratio is 0.92, which is higher than the TAIL Sharpe Ratio of 0.10. The chart below compares the historical Sharpe Ratios of SYLD and TAIL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SYLD	TAIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.92	0.10	+0.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	-0.47	+0.80
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	-0.43	+0.99

Correlation

The correlation between SYLD and TAIL is -0.59. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

SYLD vs. TAIL - Dividend Comparison

SYLD's dividend yield for the trailing twelve months is around 1.95%, less than TAIL's 3.22% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SYLD Cambria Shareholder Yield ETF	1.95%	2.25%	2.04%	1.92%	2.20%	2.37%	1.99%	2.08%	2.52%	1.57%	1.92%	6.93%
TAIL Cambria Tail Risk ETF	3.22%	2.88%	3.48%	3.74%	1.50%	0.49%	0.36%	1.58%	1.52%	0.91%	0.00%	0.00%

Drawdowns

SYLD vs. TAIL - Drawdown Comparison

The maximum SYLD drawdown since its inception was -45.36%, smaller than the maximum TAIL drawdown of -52.36%. Use the drawdown chart below to compare losses from any high point for SYLD and TAIL.

Drawdown Indicators

	SYLD	TAIL	Difference
Max Drawdown Largest peak-to-trough decline	-45.36%	-52.36%	+7.00%
Max Drawdown (1Y) Largest decline over 1 year	-14.90%	-16.24%	+1.34%
Max Drawdown (5Y) Largest decline over 5 years	-26.62%	-38.44%	+11.82%
Max Drawdown (10Y) Largest decline over 10 years	-45.36%	—	—
Current Drawdown Current decline from peak	-3.40%	-47.46%	+44.06%
Average Drawdown Average peak-to-trough decline	-5.72%	-28.71%	+22.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.83%	13.30%	-9.47%

Volatility

SYLD vs. TAIL - Volatility Comparison

The current volatility for Cambria Shareholder Yield ETF (SYLD) is 4.03%, while Cambria Tail Risk ETF (TAIL) has a volatility of 4.44%. This indicates that SYLD experiences smaller price fluctuations and is considered to be less risky than TAIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SYLD	TAIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.03%	4.44%	-0.41%
Volatility (6M) Calculated over the trailing 6-month period	11.48%	7.09%	+4.39%
Volatility (1Y) Calculated over the trailing 1-year period	21.53%	17.83%	+3.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.91%	14.90%	+6.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.96%	15.06%	+7.90%