TDIV vs. CAOS
TDIV (First Trust NASDAQ Technology Dividend Index Fund) and CAOS (Alpha Architect Tail Risk ETF) are both exchange-traded funds - TDIV is a Technology Equities fund tracking the NASDAQ Technology Dividend Index, while CAOS is a Options Trading fund actively managed by Alpha Architect. TDIV is passively managed, while CAOS is actively managed. Over the past 3 years, TDIV returned 25.41%/yr vs 3.63%/yr for CAOS. At a 0.04 correlation, their price movements are largely independent. TDIV charges 0.50%/yr vs 0.63%/yr for CAOS.
Performance
TDIV vs. CAOS - Performance Comparison
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Returns By Period
In the year-to-date period, TDIV achieves a 14.50% return, which is significantly higher than CAOS's 0.84% return.
TDIV
- 1D
- -0.55%
- 1M
- -7.33%
- 6M
- 12.16%
- YTD
- 14.50%
- 1Y
- 22.09%
- 3Y*
- 25.41%
- 5Y*
- 16.33%
- 10Y*
- 17.17%
CAOS
- 1D
- 0.06%
- 1M
- 0.12%
- 6M
- 0.30%
- YTD
- 0.84%
- 1Y
- 2.02%
- 3Y*
- 3.63%
- 5Y*
- —
- 10Y*
- —
TDIV vs. CAOS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
TDIV First Trust NASDAQ Technology Dividend Index Fund | 14.50% | 25.27% | 24.43% | 27.28% |
CAOS Alpha Architect Tail Risk ETF | 0.84% | 2.55% | 5.33% | 7.43% |
Correlation
The correlation between TDIV and CAOS is -0.30, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (All Time) Calculated using the full available price history since Mar 6, 2023 | 0.04 |
The correlation between TDIV and CAOS shifts across timeframes, from -0.30 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TDIV vs. CAOS — Risk / Return Rank
TDIV
CAOS
TDIV vs. CAOS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust NASDAQ Technology Dividend Index Fund (TDIV) 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.
| TDIV | CAOS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.27 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.60 | 2.68 | -1.08 |
| Martin ratioReturn relative to average drawdown | 4.52 | 6.06 | -1.54 |
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Drawdowns
TDIV vs. CAOS - Drawdown Comparison
The maximum TDIV drawdown since its inception was -31.97%, which is greater than CAOS's maximum drawdown of -3.89%. Use the drawdown chart below to compare losses from any high point for TDIV and CAOS.
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Drawdown Indicators
| TDIV | CAOS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.97% | -3.89% | -28.08% |
Max Drawdown (1Y)Largest decline over 1 year | -13.89% | -0.76% | -13.13% |
Max Drawdown (3Y)Largest decline over 3 years | -23.00% | -3.60% | -19.40% |
Max Drawdown (5Y)Largest decline over 5 years | -31.97% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -31.97% | — | — |
Current DrawdownCurrent decline from peak | -13.89% | -1.04% | -12.85% |
Average DrawdownAverage peak-to-trough decline | -4.88% | -0.92% | -3.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.90% | 0.33% | +4.57% |
Volatility
TDIV vs. CAOS - Volatility Comparison
First Trust NASDAQ Technology Dividend Index Fund (TDIV) has a higher volatility of 6.58% compared to Alpha Architect Tail Risk ETF (CAOS) at 0.48%. This indicates that TDIV'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
| TDIV | CAOS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.58% | 0.48% | +6.10% |
Volatility (6M)Calculated over the trailing 6-month period | 16.15% | 1.09% | +15.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.33% | 1.56% | +18.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.07% | 4.20% | +16.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.96% | 4.20% | +16.76% |
TDIV vs. CAOS - Expense Ratio Comparison
TDIV has a 0.50% expense ratio, which is lower than CAOS's 0.63% expense ratio.
Dividends
TDIV vs. CAOS - Dividend Comparison
TDIV's dividend yield for the trailing twelve months is around 1.37%, while CAOS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CAOS Alpha Architect Tail Risk ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TDIV First Trust NASDAQ Technology Dividend Index Fund | 1.37% | 1.40% | 1.59% | 1.74% | 2.51% | 1.76% | 2.07% | 2.27% | 2.97% | 2.27% | 2.45% | 2.52% |
Frequently Asked Questions
TDIV and CAOS have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TDIV has higher volatility (6.58%) compared to CAOS (0.48%). In terms of maximum drawdown, TDIV dropped -31.97% vs CAOS's -3.89%.
On 3-year performance, TDIV leads with 25.41% vs 3.63% for CAOS. On fees, TDIV is cheaper at 0.50% per year. On volatility, CAOS has been the lower-risk option at 0.48%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, TDIV has performed better with a 25.41% return vs 3.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TDIV is cheaper with a 0.50% expense ratio, compared with 0.63% for CAOS.
TDIV has the higher dividend yield at 1.37%, compared with 0.00% for CAOS.
TDIV is categorized as Technology Equities, while CAOS is Options Trading. They also come from different issuers: First Trust and Alpha Architect. Their fees differ too: 0.50% for TDIV and 0.63% for CAOS.
CAOS currently has the higher Sharpe Ratio (1.31 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.
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