TAIL vs. EELV

Last updated Apr 2, 2026

Compare and contrast key facts about Cambria Tail Risk ETF (TAIL) and Invesco S&P Emerging Markets Low Volatility ETF (EELV).

TAIL and EELV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TAIL is an actively managed fund by Cambria. It was launched on Apr 5, 2017. EELV is a passively managed fund by Invesco that tracks the performance of the S&P BMI Emerging Markets Low Volatility Index. It was launched on Jan 13, 2012.

Performance

TAIL vs. EELV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cambria Tail Risk ETF (TAIL) and Invesco S&P Emerging Markets Low Volatility ETF (EELV). The values are adjusted to include any dividend payments, if applicable.

TAIL vs. EELV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
EELV Invesco S&P Emerging Markets Low Volatility ETF	3.75%	21.97%	1.90%	8.85%	-3.98%	16.15%	-3.89%	8.89%	-5.40%	7.72%

Returns By Period

In the year-to-date period, TAIL achieves a 1.76% return, which is significantly lower than EELV's 3.75% return.

TAIL

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

EELV

• 1D: 0.39%
• 1M: -1.97%
• YTD: 3.75%
• 6M: 7.21%
• 1Y: 20.71%
• 3Y*: 11.37%
• 5Y*: 8.04%
• 10Y*: 6.24%

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

TAIL vs. EELV - Expense Ratio Comparison

TAIL has a 0.59% expense ratio, which is higher than EELV's 0.30% expense ratio.

TAIL

Cambria Tail Risk ETF

EELV

Invesco S&P Emerging Markets Low Volatility ETF

Return for Risk

TAIL vs. EELV — Risk / Return Rank

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

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

EELV

EELV Risk / Return Rank: 83
EELV Sharpe Ratio Rank: 83
EELV Sortino Ratio Rank: 85
EELV Omega Ratio Rank: 83
EELV Calmar Ratio Rank: 83
EELV Martin Ratio Rank: 80

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.

TAIL vs. EELV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cambria Tail Risk ETF (TAIL) and Invesco S&P Emerging Markets Low Volatility ETF (EELV). 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.

	TAIL	EELV	Difference
Sharpe ratio Return per unit of total volatility	0.10	1.70	-1.60
Sortino ratio Return per unit of downside risk	0.30	2.36	-2.06
Omega ratio Gain probability vs. loss probability	1.05	1.34	-0.29
Calmar ratio Return relative to maximum drawdown	0.11	2.51	-2.40
Martin ratio Return relative to average drawdown	0.13	9.31	-9.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TAIL vs. EELV - Sharpe Ratio Comparison

The current TAIL Sharpe Ratio is 0.10, which is lower than the EELV Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of TAIL and EELV, 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

	TAIL	EELV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.10	1.70	-1.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.47	0.70	-1.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.46	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.43	0.30	-0.74

Correlation

The correlation between TAIL and EELV is -0.42. 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

TAIL vs. EELV - Dividend Comparison

TAIL's dividend yield for the trailing twelve months is around 3.22%, less than EELV's 3.61% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
EELV Invesco S&P Emerging Markets Low Volatility ETF	3.61%	3.75%	4.70%	4.00%	3.45%	4.35%	2.82%	3.14%	5.50%	2.92%	2.29%	2.53%

Drawdowns

TAIL vs. EELV - Drawdown Comparison

The maximum TAIL drawdown since its inception was -52.36%, which is greater than EELV's maximum drawdown of -36.35%. Use the drawdown chart below to compare losses from any high point for TAIL and EELV.

Drawdown Indicators

	TAIL	EELV	Difference
Max Drawdown Largest peak-to-trough decline	-52.36%	-36.35%	-16.01%
Max Drawdown (1Y) Largest decline over 1 year	-16.24%	-8.22%	-8.02%
Max Drawdown (5Y) Largest decline over 5 years	-38.44%	-19.04%	-19.40%
Max Drawdown (10Y) Largest decline over 10 years	—	-36.35%	—
Current Drawdown Current decline from peak	-47.46%	-4.91%	-42.55%
Average Drawdown Average peak-to-trough decline	-28.71%	-9.00%	-19.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.30%	2.22%	+11.08%

Volatility

TAIL vs. EELV - Volatility Comparison

The current volatility for Cambria Tail Risk ETF (TAIL) is 4.44%, while Invesco S&P Emerging Markets Low Volatility ETF (EELV) has a volatility of 5.65%. This indicates that TAIL experiences smaller price fluctuations and is considered to be less risky than EELV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TAIL	EELV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.44%	5.65%	-1.21%
Volatility (6M) Calculated over the trailing 6-month period	7.09%	8.40%	-1.31%
Volatility (1Y) Calculated over the trailing 1-year period	17.83%	12.26%	+5.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.90%	11.52%	+3.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.06%	13.70%	+1.36%