TSYY vs. CAOS

Last updated Aug 2, 2026

TSYY (GraniteShares YieldBOOST TSLA ETF) and CAOS (Alpha Architect Tail Risk ETF) are both exchange-traded funds - TSYY is a Derivative Income fund actively managed by GraniteShares, while CAOS is a Options Trading fund actively managed by Alpha Architect. Both are actively managed. Over the past year, TSYY returned -9.90% vs 1.73% for CAOS. Their -0.20 correlation means they have often moved in opposite directions in the past. TSYY charges 1.15%/yr vs 0.63%/yr for CAOS.

Performance

TSYY vs. CAOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares YieldBOOST TSLA ETF (TSYY) 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, TSYY achieves a -23.02% return, which is significantly lower than CAOS's 0.76% return.

TSYY

• 1D: 0.67%
• 1M: -6.99%
• 6M: -22.45%
• YTD: -23.02%
• 1Y: -9.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -25.20%

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
TSYY GraniteShares YieldBOOST TSLA ETF	$760.06K	$828.41K	$1.81M

TSYY vs. CAOS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TSYY GraniteShares YieldBOOST TSLA ETF	-23.02%	-15.96%	-3.30%
CAOS Alpha Architect Tail Risk ETF	0.76%	2.55%	0.41%

Correlation

The correlation between TSYY and CAOS is -0.22, 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.	-0.22
Correlation (All Time) Calculated using the full available price history since Dec 18, 2024	-0.20

Return for Risk

TSYY vs. CAOS — Risk / Return Rank

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

TSYY

TSYY Risk / Return Rank: 6
TSYY Sharpe Ratio Rank: 6
TSYY Sortino Ratio Rank: 6
TSYY Omega Ratio Rank: 6
TSYY Calmar Ratio Rank: 6
TSYY Martin Ratio Rank: 6

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.

TSYY vs. CAOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares YieldBOOST TSLA ETF (TSYY) 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.

	TSYY	CAOS	Difference
Sharpe ratio: Return per unit of total volatility	-0.43	1.19	-1.62
Sortino ratio: Return per unit of downside risk	-0.40	1.89	-2.29
Omega ratio: Gain probability vs. loss probability	0.95	1.24	-0.29
Calmar ratio: Return relative to maximum drawdown	-0.38	2.47	-2.85
Martin ratio: Return relative to average drawdown	-0.70	5.45	-6.15

TSYY vs. CAOS - Sharpe Ratio Comparison

The current TSYY Sharpe Ratio is -0.43, which is lower than the CAOS Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of TSYY 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

TSYY vs. CAOS - Drawdown Comparison

The maximum TSYY drawdown since its inception was -42.66%, which is greater than CAOS's maximum drawdown of -3.89%. Use the drawdown chart below to compare losses from any high point for TSYY and CAOS.

Drawdown Indicators

	TSYY	CAOS	Difference
Max Drawdown Largest peak-to-trough decline	-42.66%	-3.89%	-38.77%
Max Drawdown (1Y) Largest decline over 1 year	-33.02%	-0.76%	-32.26%
Max Drawdown (3Y) Largest decline over 3 years	—	-3.60%	—
Current Drawdown Current decline from peak	-41.57%	-1.13%	-40.44%
Average Drawdown Average peak-to-trough decline	-27.05%	-0.92%	-26.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.04%	0.34%	+17.70%

Volatility

TSYY vs. CAOS - Volatility Comparison

GraniteShares YieldBOOST TSLA ETF (TSYY) has a higher volatility of 6.96% compared to Alpha Architect Tail Risk ETF (CAOS) at 0.51%. This indicates that TSYY'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

	TSYY	CAOS	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.96%	0.51%	+6.45%
Volatility (6M) Calculated over the trailing 6-month period	17.02%	1.07%	+15.95%
Volatility (1Y) Calculated over the trailing 1-year period	29.54%	1.57%	+27.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.41%	4.18%	+32.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.41%	4.18%	+32.23%

TSYY vs. CAOS - Expense Ratio Comparison

TSYY has a 1.15% expense ratio, which is higher than CAOS's 0.63% expense ratio.

Dividends

TSYY vs. CAOS - Dividend Comparison

TSYY's dividend yield for the trailing twelve months is around 256.16%, while CAOS has not paid dividends to shareholders.

Position	TTM	2025	2024
CAOS Alpha Architect Tail Risk ETF	0.00%	0.00%	0.00%
TSYY GraniteShares YieldBOOST TSLA ETF	246.79%	256.64%	0.19%

Frequently Asked Questions

Can I hold both TSYY and CAOS in my portfolio?

TSYY and CAOS have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSYY or CAOS?

TSYY has higher volatility (6.96%) compared to CAOS (0.51%). In terms of maximum drawdown, TSYY dropped -42.66% vs CAOS's -3.89%.

Which ETF is better, TSYY or CAOS?

On 1-year performance, CAOS leads with 1.73% vs -9.90% for TSYY. On fees, CAOS is cheaper at 0.63% 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, TSYY or CAOS?

Over the 1-year period, CAOS has performed better with a 1.73% return vs -9.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSYY or CAOS?

CAOS is cheaper with a 0.63% expense ratio, compared with 1.15% for TSYY.

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

TSYY has the higher dividend yield at 246.79%, compared with 0.00% for CAOS.

What is the main difference between TSYY and CAOS?

TSYY is categorized as Derivative Income, while CAOS is Options Trading. They also come from different issuers: GraniteShares and Alpha Architect. Their fees differ too: 1.15% for TSYY and 0.63% for CAOS.

Which has better risk-adjusted returns?

CAOS currently has the higher Sharpe Ratio (1.19 vs -0.43), 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.