TRTY vs. TAX

Last updated Jun 24, 2026

TRTY (Cambria Trinity ETF) and TAX (Cambria Tax Aware ETF) are both exchange-traded funds - TRTY is a Tactical Allocation fund tracking the Cambria Trinity Index, while TAX is a Large Cap Value Equities fund actively managed by Cambria. TRTY is passively managed, while TAX is actively managed. Over the past year, TRTY returned 19.33% vs 21.00% for TAX. A 0.69 correlation means they provide meaningful diversification when combined. TRTY charges 0.44%/yr vs 0.49%/yr for TAX.

Performance

TRTY vs. TAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cambria Trinity ETF (TRTY) and Cambria Tax Aware ETF (TAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with TRTY having a 6.97% return and TAX slightly higher at 7.12%.

TRTY

• 1D: -1.75%
• 1M: -2.37%
• YTD: 6.97%
• 6M: 6.31%
• 1Y: 19.33%
• 3Y*: 10.40%
• 5Y*: 5.67%
• 10Y*: —

TAX

• 1D: -0.94%
• 1M: 1.70%
• YTD: 7.12%
• 6M: 5.17%
• 1Y: 21.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TRTY vs. TAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TRTY Cambria Trinity ETF	6.97%	16.35%	-1.85%
TAX Cambria Tax Aware ETF	7.12%	16.72%	-2.49%

Correlation

The correlation between TRTY and TAX is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (All Time) Calculated using the full available price history since Dec 18, 2024	0.69

The correlation between TRTY and TAX has been stable across timeframes, ranging from 0.68 to 0.69 - a consistent structural relationship.

Return for Risk

TRTY vs. TAX — Risk / Return Rank

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

TRTY

TRTY Risk / Return Rank: 67
TRTY Sharpe Ratio Rank: 62
TRTY Sortino Ratio Rank: 54
TRTY Omega Ratio Rank: 68
TRTY Calmar Ratio Rank: 74
TRTY Martin Ratio Rank: 77

TAX

TAX Risk / Return Rank: 41
TAX Sharpe Ratio Rank: 39
TAX Sortino Ratio Rank: 40
TAX Omega Ratio Rank: 37
TAX Calmar Ratio Rank: 41
TAX Martin Ratio Rank: 47

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.

TRTY vs. TAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cambria Trinity ETF (TRTY) and Cambria Tax Aware ETF (TAX). 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.

	TRTY	TAX	Difference
Sharpe ratio: Return per unit of total volatility	1.93	1.30	+0.63
Sortino ratio: Return per unit of downside risk	2.45	1.92	+0.53
Omega ratio: Gain probability vs. loss probability	1.38	1.23	+0.15
Calmar ratio: Return relative to maximum drawdown	3.54	1.93	+1.61
Martin ratio: Return relative to average drawdown	13.89	7.28	+6.61

TRTY vs. TAX - Sharpe Ratio Comparison

The current TRTY Sharpe Ratio is 1.93, which is higher than the TAX Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of TRTY and TAX, 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

TRTY vs. TAX - Drawdown Comparison

The maximum TRTY drawdown since its inception was -22.35%, which is greater than TAX's maximum drawdown of -18.85%. Use the drawdown chart below to compare losses from any high point for TRTY and TAX.

Drawdown Indicators

	TRTY	TAX	Difference
Max Drawdown Largest peak-to-trough decline	-22.35%	-18.85%	-3.50%
Max Drawdown (1Y) Largest decline over 1 year	-5.49%	-10.95%	+5.46%
Max Drawdown (3Y) Largest decline over 3 years	-9.25%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-13.72%	—	—
Current Drawdown Current decline from peak	-3.45%	-1.92%	-1.53%
Average Drawdown Average peak-to-trough decline	-4.15%	-2.99%	-1.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.39%	2.89%	-1.50%

Volatility

TRTY vs. TAX - Volatility Comparison

The current volatility for Cambria Trinity ETF (TRTY) is 3.43%, while Cambria Tax Aware ETF (TAX) has a volatility of 5.47%. This indicates that TRTY experiences smaller price fluctuations and is considered to be less risky than TAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRTY	TAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.43%	5.47%	-2.04%
Volatility (6M) Calculated over the trailing 6-month period	8.79%	12.76%	-3.97%
Volatility (1Y) Calculated over the trailing 1-year period	10.05%	16.29%	-6.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.61%	18.99%	-8.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.43%	18.99%	-8.56%

TRTY vs. TAX - Expense Ratio Comparison

TRTY has a 0.44% expense ratio, which is lower than TAX's 0.49% expense ratio.

Dividends

TRTY vs. TAX - Dividend Comparison

TRTY's dividend yield for the trailing twelve months is around 3.10%, more than TAX's 0.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
TAX Cambria Tax Aware ETF	0.32%	0.34%	0.23%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TRTY Cambria Trinity ETF	3.10%	2.86%	3.55%	3.24%	5.17%	4.52%	1.99%	2.64%	1.07%

Frequently Asked Questions

Can I hold both TRTY and TAX in my portfolio?

TRTY and TAX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TRTY or TAX?

TAX has higher volatility (5.47%) compared to TRTY (3.43%). In terms of maximum drawdown, TRTY dropped -22.35% vs TAX's -18.85%.

Which ETF is better, TRTY or TAX?

On 1-year performance, TAX leads with 21.00% vs 19.33% for TRTY. On fees, TRTY is cheaper at 0.44% per year. On volatility, TRTY has been the lower-risk option at 3.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TRTY or TAX?

Over the 1-year period, TAX has performed better with a 21.00% return vs 19.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TRTY or TAX?

TRTY is cheaper with a 0.44% expense ratio, compared with 0.49% for TAX.

Which ETF pays a higher dividend yield, TRTY or TAX?

TRTY has the higher dividend yield at 3.10%, compared with 0.32% for TAX.

What is the main difference between TRTY and TAX?

TRTY is categorized as Tactical Allocation, while TAX is Large Cap Value Equities. Their fees differ too: 0.44% for TRTY and 0.49% for TAX.

Which has better risk-adjusted returns?

TRTY currently has the higher Sharpe Ratio (1.93 vs 1.30), 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.