URAA vs. CAOS

Last updated Aug 2, 2026

URAA (Direxion Daily Uranium Industry Bull 2X Shares) and CAOS (Alpha Architect Tail Risk ETF) are both exchange-traded funds - URAA is a Uranium fund tracking the Solactive United States Uranium and Nuclear Energy ETF Select Index (200%), while CAOS is a Options Trading fund actively managed by Alpha Architect. URAA is passively managed, while CAOS is actively managed. Over the past year, URAA returned -17.19% vs 1.73% for CAOS. Their -0.20 correlation means they have often moved in opposite directions in the past. URAA charges 1.28%/yr vs 0.63%/yr for CAOS.

Performance

URAA vs. CAOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Uranium Industry Bull 2X Shares (URAA) 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, URAA achieves a -33.35% return, which is significantly lower than CAOS's 0.76% return.

URAA

• 1D: -2.37%
• 1M: -17.06%
• 6M: -57.33%
• YTD: -33.35%
• 1Y: -17.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -3.29%

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
URAA Direxion Daily Uranium Industry Bull 2X Shares	$1.05M	$1.23M	$2.40M

URAA vs. CAOS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
URAA Direxion Daily Uranium Industry Bull 2X Shares	-33.35%	88.33%	-25.73%
CAOS Alpha Architect Tail Risk ETF	0.76%	2.55%	3.12%

Correlation

The correlation between URAA and CAOS is -0.20, 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.	-0.20
Correlation (All Time) Calculated using the full available price history since Jun 26, 2024	-0.20

Return for Risk

URAA vs. CAOS — Risk / Return Rank

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

URAA

URAA Risk / Return Rank: 10
URAA Sharpe Ratio Rank: 8
URAA Sortino Ratio Rank: 14
URAA Omega Ratio Rank: 14
URAA Calmar Ratio Rank: 7
URAA Martin Ratio Rank: 7

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.

URAA vs. CAOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Uranium Industry Bull 2X Shares (URAA) 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.

	URAA	CAOS	Difference
Sharpe ratio: Return per unit of total volatility	-0.21	1.19	-1.40
Sortino ratio: Return per unit of downside risk	0.37	1.89	-1.52
Omega ratio: Gain probability vs. loss probability	1.04	1.24	-0.20
Calmar ratio: Return relative to maximum drawdown	-0.30	2.47	-2.77
Martin ratio: Return relative to average drawdown	-0.57	5.45	-6.02

URAA vs. CAOS - Sharpe Ratio Comparison

The current URAA Sharpe Ratio is -0.21, which is lower than the CAOS Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of URAA 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

URAA vs. CAOS - Drawdown Comparison

The maximum URAA drawdown since its inception was -69.08%, which is greater than CAOS's maximum drawdown of -3.89%. Use the drawdown chart below to compare losses from any high point for URAA and CAOS.

Drawdown Indicators

	URAA	CAOS	Difference
Max Drawdown Largest peak-to-trough decline	-69.08%	-3.89%	-65.19%
Max Drawdown (1Y) Largest decline over 1 year	-69.08%	-0.76%	-68.32%
Max Drawdown (3Y) Largest decline over 3 years	—	-3.60%	—
Current Drawdown Current decline from peak	-66.44%	-1.13%	-65.31%
Average Drawdown Average peak-to-trough decline	-29.67%	-0.92%	-28.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	35.84%	0.34%	+35.50%

Volatility

URAA vs. CAOS - Volatility Comparison

Direxion Daily Uranium Industry Bull 2X Shares (URAA) has a higher volatility of 26.55% compared to Alpha Architect Tail Risk ETF (CAOS) at 0.51%. This indicates that URAA'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

	URAA	CAOS	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.55%	0.51%	+26.04%
Volatility (6M) Calculated over the trailing 6-month period	72.01%	1.07%	+70.94%
Volatility (1Y) Calculated over the trailing 1-year period	97.72%	1.57%	+96.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	89.21%	4.18%	+85.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	89.21%	4.18%	+85.03%

URAA vs. CAOS - Expense Ratio Comparison

URAA has a 1.28% expense ratio, which is higher than CAOS's 0.63% expense ratio.

Dividends

URAA vs. CAOS - Dividend Comparison

URAA's dividend yield for the trailing twelve months is around 15.12%, while CAOS has not paid dividends to shareholders.

Position	TTM	2025	2024
CAOS Alpha Architect Tail Risk ETF	0.00%	0.00%	0.00%
URAA Direxion Daily Uranium Industry Bull 2X Shares	15.12%	9.14%	4.36%

Frequently Asked Questions

Can I hold both URAA and CAOS in my portfolio?

URAA and CAOS have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, URAA or CAOS?

URAA has higher volatility (26.55%) compared to CAOS (0.51%). In terms of maximum drawdown, URAA dropped -69.08% vs CAOS's -3.89%.

Which ETF is better, URAA or CAOS?

On 1-year performance, CAOS leads with 1.73% vs -17.19% for URAA. 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, URAA or CAOS?

Over the 1-year period, CAOS has performed better with a 1.73% return vs -17.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, URAA or CAOS?

CAOS is cheaper with a 0.63% expense ratio, compared with 1.28% for URAA.

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

URAA has the higher dividend yield at 15.12%, compared with 0.00% for CAOS.

What is the main difference between URAA and CAOS?

URAA is categorized as Uranium, while CAOS is Options Trading. They also come from different issuers: Direxion and Alpha Architect. Their fees differ too: 1.28% for URAA and 0.63% for CAOS.

Which has better risk-adjusted returns?

CAOS currently has the higher Sharpe Ratio (1.19 vs -0.21), 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.