VAMO vs. TAIL
VAMO (Cambria Value and Momentum ETF) and TAIL (Cambria Tail Risk ETF) are both exchange-traded funds - VAMO is a Momentum fund actively managed by Cambria, while TAIL is a Volatility Hedged Equity fund actively managed by Cambria. Both are actively managed. Over the past 5 years, VAMO returned 9.24%/yr vs -8.23%/yr for TAIL. At a correlation of -0.35, they often move in opposite directions. VAMO charges 0.65%/yr vs 0.59%/yr for TAIL.
Performance
VAMO vs. TAIL - Performance Comparison
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Returns By Period
In the year-to-date period, VAMO achieves a 4.39% return, which is significantly higher than TAIL's -5.49% return.
VAMO
- 1D
- -0.39%
- 1M
- 1.34%
- YTD
- 4.39%
- 6M
- 3.05%
- 1Y
- 19.78%
- 3Y*
- 13.95%
- 5Y*
- 9.24%
- 10Y*
- 5.87%
TAIL
- 1D
- 1.03%
- 1M
- 0.87%
- YTD
- -5.49%
- 6M
- -5.16%
- 1Y
- -8.67%
- 3Y*
- -5.25%
- 5Y*
- -8.23%
- 10Y*
- —
VAMO vs. TAIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VAMO Cambria Value and Momentum ETF | 4.39% | 16.51% | 6.11% | 5.58% | 8.55% | 32.16% | -4.92% | -4.63% | -11.43% | 6.62% |
TAIL Cambria Tail Risk ETF | -5.49% | 5.48% | -9.62% | -13.29% | -13.13% | -12.81% | 6.91% | -14.27% | 2.85% | -7.55% |
Correlation
The correlation between VAMO and TAIL is -0.29, 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 | -0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.29 |
Correlation (All Time) Calculated using the full available price history since Jun 13, 2017 | -0.35 |
The correlation between VAMO and TAIL shifts across timeframes, from -0.35 (all time) to -0.23 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VAMO vs. TAIL — Risk / Return Rank
VAMO
TAIL
VAMO vs. TAIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cambria Value and Momentum ETF (VAMO) and Cambria Tail Risk ETF (TAIL). 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.
| VAMO | TAIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.80 | ||
| Sortino ratioReturn per unit of downside risk | +4.06 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 0.83 | +0.47 |
| Calmar ratioReturn relative to maximum drawdown | 3.58 | -0.78 | +4.36 |
| Martin ratioReturn relative to average drawdown | 10.28 | -1.77 | +12.05 |
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Drawdowns
VAMO vs. TAIL - Drawdown Comparison
The maximum VAMO drawdown since its inception was -41.84%, smaller than the maximum TAIL drawdown of -52.36%. Use the drawdown chart below to compare losses from any high point for VAMO and TAIL.
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Drawdown Indicators
| VAMO | TAIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.84% | -52.36% | +10.52% |
Max Drawdown (1Y)Largest decline over 1 year | -5.55% | -11.10% | +5.55% |
Max Drawdown (3Y)Largest decline over 3 years | -11.61% | -20.78% | +9.17% |
Max Drawdown (5Y)Largest decline over 5 years | -17.25% | -38.44% | +21.19% |
Max Drawdown (10Y)Largest decline over 10 years | -41.84% | — | — |
Current DrawdownCurrent decline from peak | -1.59% | -51.20% | +49.61% |
Average DrawdownAverage peak-to-trough decline | -9.94% | -29.23% | +19.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.93% | 4.94% | -3.01% |
Volatility
VAMO vs. TAIL - Volatility Comparison
Cambria Value and Momentum ETF (VAMO) has a higher volatility of 2.70% compared to Cambria Tail Risk ETF (TAIL) at 1.90%. This indicates that VAMO's price experiences larger fluctuations and is considered to be riskier than TAIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VAMO | TAIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.70% | 1.90% | +0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 7.65% | 6.64% | +1.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.23% | 8.48% | +2.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.18% | 14.90% | +2.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.10% | 14.91% | +3.19% |
VAMO vs. TAIL - Expense Ratio Comparison
VAMO has a 0.65% expense ratio, which is higher than TAIL's 0.59% expense ratio.
Dividends
VAMO vs. TAIL - Dividend Comparison
VAMO's dividend yield for the trailing twelve months is around 0.62%, less than TAIL's 2.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TAIL Cambria Tail Risk ETF | 2.90% | 2.88% | 3.48% | 3.74% | 1.50% | 0.49% | 0.36% | 1.58% | 1.52% | 0.91% | 0.00% | 0.00% |
VAMO Cambria Value and Momentum ETF | 0.62% | 1.41% | 0.84% | 1.35% | 1.10% | 1.07% | 1.03% | 1.15% | 1.03% | 0.35% | 0.56% | 0.20% |
Frequently Asked Questions
VAMO and TAIL have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VAMO has higher volatility (2.70%) compared to TAIL (1.90%). In terms of maximum drawdown, VAMO dropped -41.84% vs TAIL's -52.36%.
On 5-year performance, VAMO leads with 9.24% vs -8.23% for TAIL. On fees, TAIL is cheaper at 0.59% per year. On volatility, TAIL has been the lower-risk option at 1.90%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, VAMO has performed better with a 9.24% return vs -8.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TAIL is cheaper with a 0.59% expense ratio, compared with 0.65% for VAMO.
TAIL has the higher dividend yield at 2.90%, compared with 0.62% for VAMO.
VAMO is categorized as Momentum, while TAIL is Volatility Hedged Equity. Their fees differ too: 0.65% for VAMO and 0.59% for TAIL.
VAMO currently has the higher Sharpe Ratio (1.77 vs -1.03), 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.
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