VEGA vs. CAPE
VEGA (AdvisorShares STAR Global Buy-Write ETF) and CAPE (iPath Shiller CAPE ETN) are both Global Equities funds. VEGA is actively managed, while CAPE is passively managed. Over the past 3 years, VEGA returned 13.69%/yr vs 11.38%/yr for CAPE. A 0.74 correlation means they provide meaningful diversification when combined. VEGA charges 2.02%/yr vs 0.45%/yr for CAPE.
Performance
VEGA vs. CAPE - Performance Comparison
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Returns By Period
In the year-to-date period, VEGA achieves a 6.92% return, which is significantly higher than CAPE's -1.42% return.
VEGA
- 1D
- -0.23%
- 1M
- 0.95%
- YTD
- 6.92%
- 6M
- 6.45%
- 1Y
- 19.11%
- 3Y*
- 13.69%
- 5Y*
- 7.10%
- 10Y*
- 8.06%
CAPE
- 1D
- -0.28%
- 1M
- -2.34%
- YTD
- -1.42%
- 6M
- -1.48%
- 1Y
- 4.08%
- 3Y*
- 11.38%
- 5Y*
- —
- 10Y*
- —
VEGA vs. CAPE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
VEGA AdvisorShares STAR Global Buy-Write ETF | 6.92% | 15.83% | 11.20% | 15.12% | -11.60% |
CAPE iPath Shiller CAPE ETN | -1.42% | 9.10% | 14.40% | 27.65% | -15.28% |
Correlation
The correlation between VEGA and CAPE is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Apr 4, 2022 | 0.74 |
The correlation between VEGA and CAPE shifts across timeframes, from 0.55 (1 year) to 0.74 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VEGA vs. CAPE — Risk / Return Rank
VEGA
CAPE
VEGA vs. CAPE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AdvisorShares STAR Global Buy-Write ETF (VEGA) and iPath Shiller CAPE ETN (CAPE). 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.
| VEGA | CAPE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.64 | ||
| Sortino ratioReturn per unit of downside risk | +2.21 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.07 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 2.80 | 0.42 | +2.38 |
| Martin ratioReturn relative to average drawdown | 12.27 | 1.50 | +10.77 |
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Drawdowns
VEGA vs. CAPE - Drawdown Comparison
The maximum VEGA drawdown since its inception was -28.37%, which is greater than CAPE's maximum drawdown of -22.07%. Use the drawdown chart below to compare losses from any high point for VEGA and CAPE.
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Drawdown Indicators
| VEGA | CAPE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.37% | -22.07% | -6.30% |
Max Drawdown (1Y)Largest decline over 1 year | -6.86% | -9.68% | +2.82% |
Max Drawdown (3Y)Largest decline over 3 years | -11.62% | -14.32% | +2.70% |
Max Drawdown (5Y)Largest decline over 5 years | -22.78% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -28.37% | — | — |
Current DrawdownCurrent decline from peak | -0.68% | -4.56% | +3.88% |
Average DrawdownAverage peak-to-trough decline | -3.78% | -4.90% | +1.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.56% | 2.72% | -1.16% |
Volatility
VEGA vs. CAPE - Volatility Comparison
AdvisorShares STAR Global Buy-Write ETF (VEGA) has a higher volatility of 3.65% compared to iPath Shiller CAPE ETN (CAPE) at 3.28%. This indicates that VEGA's price experiences larger fluctuations and is considered to be riskier than CAPE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VEGA | CAPE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.65% | 3.28% | +0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 8.02% | 8.49% | -0.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.55% | 11.08% | -1.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.35% | 16.88% | -4.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.74% | 16.88% | -4.14% |
VEGA vs. CAPE - Expense Ratio Comparison
VEGA has a 2.02% expense ratio, which is higher than CAPE's 0.45% expense ratio.
Dividends
VEGA vs. CAPE - Dividend Comparison
VEGA's dividend yield for the trailing twelve months is around 1.26%, less than CAPE's 1.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
CAPE iPath Shiller CAPE ETN | 1.40% | 1.39% | 1.23% | 1.01% | 0.80% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VEGA AdvisorShares STAR Global Buy-Write ETF | 1.26% | 1.34% | 1.05% | 1.12% | 1.89% | 0.55% | 0.28% | 0.44% | 0.45% | 0.00% | 0.81% |
Frequently Asked Questions
VEGA and CAPE have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VEGA has higher volatility (3.65%) compared to CAPE (3.28%). In terms of maximum drawdown, VEGA dropped -28.37% vs CAPE's -22.07%.
On 3-year performance, VEGA leads with 13.69% vs 11.38% for CAPE. On fees, CAPE is cheaper at 0.45% per year. On volatility, CAPE has been the lower-risk option at 3.28%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, VEGA has performed better with a 13.69% return vs 11.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CAPE is cheaper with a 0.45% expense ratio, compared with 2.02% for VEGA.
CAPE has the higher dividend yield at 1.40%, compared with 1.26% for VEGA.
They also come from different issuers: AdvisorShares and Barclays Capital. Their fees differ too: 2.02% for VEGA and 0.45% for CAPE.
VEGA currently has the higher Sharpe Ratio (2.01 vs 0.37), 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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