TINY vs. CAOS

Last updated Aug 2, 2026

TINY (ProShares Nanotechnology ETF) and CAOS (Alpha Architect Tail Risk ETF) are both exchange-traded funds - TINY is a Technology Equities fund tracking the Solactive Nanotechnology Index, while CAOS is a Options Trading fund actively managed by Alpha Architect. TINY is passively managed, while CAOS is actively managed. Over the past 3 years, TINY returned 24.31%/yr vs 3.48%/yr for CAOS. Their -0.00 correlation means they have often moved in opposite directions in the past. TINY charges 0.58%/yr vs 0.63%/yr for CAOS.

Performance

TINY vs. CAOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Nanotechnology ETF (TINY) 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, TINY achieves a 43.61% return, which is significantly higher than CAOS's 0.76% return.

TINY

• 1D: 1.48%
• 1M: -11.41%
• 6M: 20.75%
• YTD: 43.61%
• 1Y: 79.06%
• 3Y*: 24.31%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.00%

CAOS

• 1D: -0.06%
• 1M: -0.01%
• 6M: 0.16%
• YTD: 0.76%
• 1Y: 1.73%
• 3Y*: 3.48%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.70%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CAOS Alpha Architect Tail Risk ETF	$6.81M	$5.39M	$5.09M
TINY ProShares Nanotechnology ETF	$683.29K	$1.59M	$1.37M

TINY vs. CAOS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TINY ProShares Nanotechnology ETF	43.61%	19.98%	6.63%	26.37%
CAOS Alpha Architect Tail Risk ETF	0.76%	2.55%	5.33%	7.43%

Correlation

The correlation between TINY and CAOS is -0.27, 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.	-0.27
Correlation (3Y) Balances recent behavior with more history.	-0.09
Correlation (All Time) Calculated using the full available price history since Mar 6, 2023	-0.00

Over the past year, the inverse relationship between TINY and CAOS has strengthened: their correlation has moved from -0.00 to -0.27, meaning they now move in opposite directions more often than their long-term average.

Return for Risk

TINY vs. CAOS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TINY

TINY Risk / Return Rank: 80
TINY Sharpe Ratio Rank: 85
TINY Sortino Ratio Rank: 78
TINY Omega Ratio Rank: 77
TINY Calmar Ratio Rank: 78
TINY Martin Ratio Rank: 83

CAOS

CAOS Risk / Return Rank: 56
CAOS Sharpe Ratio Rank: 49
CAOS Sortino Ratio Rank: 55
CAOS Omega Ratio Rank: 54
CAOS Calmar Ratio Rank: 72
CAOS Martin Ratio Rank: 48

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TINY vs. CAOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Nanotechnology ETF (TINY) 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.

	TINY	CAOS	Difference
Sharpe ratio: Return per unit of total volatility	1.98	1.19	+0.79
Sortino ratio: Return per unit of downside risk	2.50	1.89	+0.61
Omega ratio: Gain probability vs. loss probability	1.32	1.24	+0.08
Calmar ratio: Return relative to maximum drawdown	2.78	2.47	+0.31
Martin ratio: Return relative to average drawdown	11.41	5.45	+5.96

TINY vs. CAOS - Sharpe Ratio Comparison

The current TINY Sharpe Ratio is 1.98, which is higher than the CAOS Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of TINY 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.

Drawdowns

TINY vs. CAOS - Drawdown Comparison

The maximum TINY drawdown since its inception was -43.79%, which is greater than CAOS's maximum drawdown of -3.89%. Use the drawdown chart below to compare losses from any high point for TINY and CAOS.

Drawdown Indicators

	TINY	CAOS	Difference
Max Drawdown Largest peak-to-trough decline	-43.79%	-3.89%	-39.90%
Max Drawdown (1Y) Largest decline over 1 year	-27.86%	-0.76%	-27.10%
Max Drawdown (3Y) Largest decline over 3 years	-42.13%	-3.60%	-38.53%
Current Drawdown Current decline from peak	-21.24%	-1.13%	-20.11%
Average Drawdown Average peak-to-trough decline	-15.94%	-0.92%	-15.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.77%	0.34%	+6.43%

Volatility

TINY vs. CAOS - Volatility Comparison

ProShares Nanotechnology ETF (TINY) has a higher volatility of 17.53% compared to Alpha Architect Tail Risk ETF (CAOS) at 0.51%. This indicates that TINY'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

	TINY	CAOS	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.53%	0.51%	+17.02%
Volatility (6M) Calculated over the trailing 6-month period	33.68%	1.07%	+32.61%
Volatility (1Y) Calculated over the trailing 1-year period	39.15%	1.57%	+37.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.53%	4.18%	+29.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.53%	4.18%	+29.35%

TINY vs. CAOS - Expense Ratio Comparison

TINY has a 0.58% expense ratio, which is lower than CAOS's 0.63% expense ratio.

Dividends

TINY vs. CAOS - Dividend Comparison

TINY's dividend yield for the trailing twelve months is around 0.19%, while CAOS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
CAOS Alpha Architect Tail Risk ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TINY ProShares Nanotechnology ETF	0.19%	0.29%	0.01%	0.35%	0.42%	0.07%

Frequently Asked Questions

Can I hold both TINY and CAOS in my portfolio?

TINY and CAOS have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TINY or CAOS?

TINY has higher volatility (17.53%) compared to CAOS (0.51%). In terms of maximum drawdown, TINY dropped -43.79% vs CAOS's -3.89%.

Which ETF is better, TINY or CAOS?

On 3-year performance, TINY leads with 24.31% vs 3.48% for CAOS. On fees, TINY is cheaper at 0.58% per year. On volatility, CAOS has been the lower-risk option at 0.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TINY or CAOS?

Over the 3-year period, TINY has performed better with a 24.31% return vs 3.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TINY or CAOS?

TINY is cheaper with a 0.58% expense ratio, compared with 0.63% for CAOS.

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

TINY has the higher dividend yield at 0.19%, compared with 0.00% for CAOS.

What is the main difference between TINY and CAOS?

TINY is categorized as Technology Equities, while CAOS is Options Trading. They also come from different issuers: ProShares and Alpha Architect. Their fees differ too: 0.58% for TINY and 0.63% for CAOS.

Which has better risk-adjusted returns?

TINY currently has the higher Sharpe Ratio (1.98 vs 1.19), 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.