TAIL vs. DRSK
TAIL (Cambria Tail Risk ETF) and DRSK (Aptus Defined Risk ETF) are both exchange-traded funds - TAIL is a Equity Hedged fund actively managed by Cambria, while DRSK is a Diversified Portfolio fund actively managed by Aptus. Both are actively managed. Over the past 5 years, TAIL returned -9.07%/yr vs 2.33%/yr for DRSK. Their -0.13 correlation means they have often moved in opposite directions in the past. TAIL charges 0.59%/yr vs 0.79%/yr for DRSK.
Performance
TAIL vs. DRSK - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TAIL achieves a -8.13% return, which is significantly lower than DRSK's 1.59% return.
TAIL
- 1D
- -0.57%
- 1M
- -1.69%
- 6M
- -7.65%
- YTD
- -8.13%
- 1Y
- -11.00%
- 3Y*
- -4.90%
- 5Y*
- -9.07%
- 10Y*
- —
- ALL TIME*
- -7.28%
DRSK
- 1D
- 0.28%
- 1M
- -1.04%
- 6M
- 1.95%
- YTD
- 1.59%
- 1Y
- 3.00%
- 3Y*
- 7.99%
- 5Y*
- 2.33%
- 10Y*
- —
- ALL TIME*
- 5.25%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.84M | $3.85M | $3.25M | |
| $1.12M | $1.66M | $2.24M |
TAIL vs. DRSK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
TAIL Cambria Tail Risk ETF | -8.13% | 5.48% | -9.62% | -13.29% | -13.13% | -12.81% | 6.91% | -14.27% | 13.40% |
DRSK Aptus Defined Risk ETF | 1.59% | 7.67% | 12.50% | 2.08% | -9.57% | 0.88% | 13.80% | 12.64% | 2.36% |
Correlation
The correlation between TAIL and DRSK is -0.19, 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. | -0.19 |
Correlation (3Y) Balances recent behavior with more history. | -0.10 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.08 |
Correlation (All Time) Calculated using the full available price history since Aug 8, 2018 | -0.13 |
The correlation between TAIL and DRSK shifts across timeframes, from -0.19 (1 year) to -0.08 (5 years), 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
TAIL vs. DRSK — Risk / Return Rank
TAIL
DRSK
TAIL vs. DRSK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cambria Tail Risk ETF (TAIL) and Aptus Defined Risk ETF (DRSK). 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.
| TAIL | DRSK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.55 | ||
| Sortino ratioReturn per unit of downside risk | -2.30 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.08 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | 0.50 | -1.24 |
| Martin ratioReturn relative to average drawdown | -1.52 | 1.22 | -2.74 |
Loading charts...
Drawdowns
TAIL vs. DRSK - Drawdown Comparison
The maximum TAIL drawdown since its inception was -52.57%, which is greater than DRSK's maximum drawdown of -19.87%. Use the drawdown chart below to compare losses from any high point for TAIL and DRSK.
Loading charts...
Drawdown Indicators
| TAIL | DRSK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.57% | -19.87% | -32.70% |
Max Drawdown (1Y)Largest decline over 1 year | -12.68% | -7.20% | -5.48% |
Max Drawdown (3Y)Largest decline over 3 years | -22.20% | -8.81% | -13.39% |
Max Drawdown (5Y)Largest decline over 5 years | -38.03% | -19.87% | -18.16% |
Current DrawdownCurrent decline from peak | -52.57% | -3.30% | -49.27% |
Average DrawdownAverage peak-to-trough decline | -29.50% | -4.18% | -25.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.16% | 2.94% | +3.22% |
Volatility
TAIL vs. DRSK - Volatility Comparison
Cambria Tail Risk ETF (TAIL) and Aptus Defined Risk ETF (DRSK) have volatilities of 1.80% and 1.80%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TAIL | DRSK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.80% | 1.80% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 6.72% | 5.25% | +1.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.59% | 7.86% | +0.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.88% | 7.45% | +7.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.84% | 7.05% | +7.79% |
TAIL vs. DRSK - Expense Ratio Comparison
TAIL has a 0.59% expense ratio, which is lower than DRSK's 0.79% expense ratio.
Dividends
TAIL vs. DRSK - Dividend Comparison
TAIL's dividend yield for the trailing twelve months is around 2.99%, less than DRSK's 3.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DRSK Aptus Defined Risk ETF | 3.74% | 3.67% | 3.31% | 3.57% | 1.93% | 2.64% | 5.69% | 3.04% | 2.62% | 0.00% |
TAIL Cambria Tail Risk ETF | 2.99% | 2.88% | 3.48% | 3.74% | 1.50% | 0.49% | 0.36% | 1.58% | 1.52% | 0.91% |
Frequently Asked Questions
TAIL and DRSK have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DRSK has higher volatility (1.80%) compared to TAIL (1.80%). In terms of maximum drawdown, TAIL dropped -52.57% vs DRSK's -19.87%.
On 5-year performance, DRSK leads with 2.33% vs -9.07% for TAIL. On fees, TAIL is cheaper at 0.59% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DRSK has performed better with a 2.33% return vs -9.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TAIL is cheaper with a 0.59% expense ratio, compared with 0.79% for DRSK.
DRSK has the higher dividend yield at 3.74%, compared with 2.99% for TAIL.
TAIL is categorized as Equity Hedged, while DRSK is Diversified Portfolio. They also come from different issuers: Cambria and Aptus. Their fees differ too: 0.59% for TAIL and 0.79% for DRSK.
DRSK currently has the higher Sharpe Ratio (0.46 vs -1.09), 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 TAIL and DRSK
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