THNR vs. CAOS

Last updated Jun 3, 2026

THNR (Amplify Weight Loss Drug & Treatment ETF) and CAOS (Alpha Architect Tail Risk ETF) are both exchange-traded funds - THNR is a Health & Biotech Equities fund tracking the VettaFi Weight Loss Drug & Treatment Index, while CAOS is a Options Trading fund actively managed by Alpha Architect. THNR is passively managed, while CAOS is actively managed. Over the past year, THNR returned 9.10% vs 1.79% for CAOS. At a correlation of -0.20, they often move in opposite directions. THNR charges 0.59%/yr vs 0.63%/yr for CAOS.

Performance

THNR vs. CAOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify Weight Loss Drug & Treatment ETF (THNR) 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, THNR achieves a -5.20% return, which is significantly lower than CAOS's 0.69% return.

THNR

• 1D: -1.47%
• 1M: -2.91%
• YTD: -5.20%
• 6M: -3.73%
• 1Y: 9.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CAOS

• 1D: 0.03%
• 1M: -0.21%
• YTD: 0.69%
• 6M: 0.56%
• 1Y: 1.79%
• 3Y*: 4.22%
• 5Y*: —
• 10Y*: —

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

THNR vs. CAOS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
THNR Amplify Weight Loss Drug & Treatment ETF	-5.20%	13.65%	-10.36%
CAOS Alpha Architect Tail Risk ETF	0.69%	2.55%	3.86%

Correlation

The correlation between THNR and CAOS is -0.23, 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	-0.23
Correlation (All Time) Calculated using the full available price history since May 22, 2024	-0.20

THNR vs. CAOS - Sectors Allocation Comparison

Sectors	THNR	CAOS
Healthcare	97.7%	9.6%
Financial Services	0.9%	12.4%
Basic Materials	-	1.9%
Communication Services	-	10.4%
Consumer Cyclical	-	10.0%
Consumer Defensive	-	5.4%
Energy	-	4.1%
Industrials	-	8.5%
Real Estate	-	2.0%
Technology	-	33.1%
Utilities	-	2.6%

Return for Risk

THNR vs. CAOS — Risk / Return Rank

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

THNR

THNR Risk / Return Rank: 16
THNR Sharpe Ratio Rank: 15
THNR Sortino Ratio Rank: 16
THNR Omega Ratio Rank: 15
THNR Calmar Ratio Rank: 18
THNR Martin Ratio Rank: 17

CAOS

CAOS Risk / Return Rank: 39
CAOS Sharpe Ratio Rank: 33
CAOS Sortino Ratio Rank: 36
CAOS Omega Ratio Rank: 37
CAOS Calmar Ratio Rank: 49
CAOS Martin Ratio Rank: 39

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.

THNR vs. CAOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify Weight Loss Drug & Treatment ETF (THNR) 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.

	THNR	CAOS	Difference
Sharpe ratio Return per unit of total volatility	0.48	1.18	-0.71
Sortino ratio Return per unit of downside risk	0.81	1.88	-1.07
Omega ratio Gain probability vs. loss probability	1.10	1.24	-0.15
Calmar ratio Return relative to maximum drawdown	0.76	2.44	-1.68
Martin ratio Return relative to average drawdown	1.75	6.13	-4.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

THNR vs. CAOS - Sharpe Ratio Comparison

The current THNR Sharpe Ratio is 0.48, which is lower than the CAOS Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of THNR 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.

Sharpe Ratios by Period

	THNR	CAOS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.48	1.18	-0.71
Sharpe Ratio (All Time) Calculated using the full available price history	-0.09	1.20	-1.29

Drawdowns

THNR vs. CAOS - Drawdown Comparison

The maximum THNR drawdown since its inception was -32.51%, which is greater than CAOS's maximum drawdown of -3.60%. Use the drawdown chart below to compare losses from any high point for THNR and CAOS.

Drawdown Indicators

	THNR	CAOS	Difference
Max Drawdown Largest peak-to-trough decline	-32.51%	-3.60%	-28.91%
Max Drawdown (1Y) Largest decline over 1 year	-12.06%	-0.76%	-11.30%
Max Drawdown (3Y) Largest decline over 3 years	—	-3.60%	—
Current Drawdown Current decline from peak	-13.00%	-1.19%	-11.81%
Average Drawdown Average peak-to-trough decline	-12.24%	-0.90%	-11.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.26%	0.30%	+4.96%

Volatility

THNR vs. CAOS - Volatility Comparison

Amplify Weight Loss Drug & Treatment ETF (THNR) has a higher volatility of 5.16% compared to Alpha Architect Tail Risk ETF (CAOS) at 0.22%. This indicates that THNR'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

	THNR	CAOS	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.16%	0.22%	+4.94%
Volatility (6M) Calculated over the trailing 6-month period	13.55%	1.02%	+12.53%
Volatility (1Y) Calculated over the trailing 1-year period	19.15%	1.52%	+17.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.37%	4.26%	+15.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.37%	4.26%	+15.11%

THNR vs. CAOS - Expense Ratio Comparison

THNR has a 0.59% expense ratio, which is lower than CAOS's 0.63% expense ratio.

Dividends

THNR vs. CAOS - Dividend Comparison

THNR's dividend yield for the trailing twelve months is around 1.73%, while CAOS has not paid dividends to shareholders.

Position	TTM	2025	2024
CAOS Alpha Architect Tail Risk ETF	0.00%	0.00%	0.00%
THNR Amplify Weight Loss Drug & Treatment ETF	1.73%	1.64%	0.98%

Frequently Asked Questions

Can I hold both THNR and CAOS in my portfolio?

THNR and CAOS have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, THNR or CAOS?

THNR has higher volatility (5.16%) compared to CAOS (0.22%). In terms of maximum drawdown, THNR dropped -32.51% vs CAOS's -3.60%.

Which ETF is better, THNR or CAOS?

On 1-year performance, THNR leads with 9.10% vs 1.79% for CAOS. On fees, THNR is cheaper at 0.59% per year. On volatility, CAOS has been the lower-risk option at 0.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, THNR or CAOS?

Over the 1-year period, THNR has performed better with a 9.10% return vs 1.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, THNR or CAOS?

THNR is cheaper with a 0.59% expense ratio, compared with 0.63% for CAOS.

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

THNR has the higher dividend yield at 1.73%, compared with 0.00% for CAOS.

What is the main difference between THNR and CAOS?

THNR is categorized as Health & Biotech Equities, while CAOS is Options Trading. They also come from different issuers: Amplify and Alpha Architect. Their fees differ too: 0.59% for THNR and 0.63% for CAOS.

Which has better risk-adjusted returns?

CAOS currently has the higher Sharpe Ratio (1.18 vs 0.48), 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.