VGIT vs. CAOS
VGIT (Vanguard Intermediate-Term Treasury ETF) and CAOS (Alpha Architect Tail Risk ETF) are both exchange-traded funds - VGIT is a Government Bonds fund tracking the Bloomberg U.S. Treasury 3-10 Year Index, while CAOS is a Options Trading fund actively managed by Alpha Architect. VGIT is passively managed, while CAOS is actively managed. Over the past 3 years, VGIT returned 3.40%/yr vs 4.15%/yr for CAOS. At a 0.01 correlation, their price movements are largely independent. VGIT charges 0.03%/yr vs 0.63%/yr for CAOS.
Performance
VGIT vs. CAOS - Performance Comparison
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Returns By Period
In the year-to-date period, VGIT achieves a -0.78% return, which is significantly lower than CAOS's 0.81% return.
VGIT
- 1D
- -0.05%
- 1M
- -0.87%
- YTD
- -0.78%
- 6M
- -0.42%
- 1Y
- 3.55%
- 3Y*
- 3.40%
- 5Y*
- -0.07%
- 10Y*
- 1.16%
CAOS
- 1D
- -0.09%
- 1M
- -0.08%
- YTD
- 0.81%
- 6M
- 0.65%
- 1Y
- 1.88%
- 3Y*
- 4.15%
- 5Y*
- —
- 10Y*
- —
VGIT vs. CAOS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
VGIT Vanguard Intermediate-Term Treasury ETF | -0.78% | 7.34% | 1.39% | 4.88% |
CAOS Alpha Architect Tail Risk ETF | 0.81% | 2.55% | 5.33% | 7.97% |
Correlation
The correlation between VGIT and CAOS is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2023 | 0.01 |
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Return for Risk
VGIT vs. CAOS — Risk / Return Rank
VGIT
CAOS
VGIT vs. CAOS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Treasury ETF (VGIT) 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.
| VGIT | CAOS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.25 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.26 | 2.49 | -1.23 |
| Martin ratioReturn relative to average drawdown | 3.66 | 6.17 | -2.50 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VGIT | CAOS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.08 | 1.23 | -0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.01 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.26 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 1.21 | -0.72 |
Drawdowns
VGIT vs. CAOS - Drawdown Comparison
The maximum VGIT drawdown since its inception was -16.05%, which is greater than CAOS's maximum drawdown of -3.60%. Use the drawdown chart below to compare losses from any high point for VGIT and CAOS.
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Drawdown Indicators
| VGIT | CAOS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.05% | -3.60% | -12.45% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -0.76% | -2.07% |
Max Drawdown (3Y)Largest decline over 3 years | -4.34% | -3.60% | -0.74% |
Max Drawdown (5Y)Largest decline over 5 years | -15.02% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -16.05% | — | — |
Current DrawdownCurrent decline from peak | -2.71% | -1.08% | -1.63% |
Average DrawdownAverage peak-to-trough decline | -3.52% | -0.90% | -2.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.97% | 0.31% | +0.66% |
Volatility
VGIT vs. CAOS - Volatility Comparison
Vanguard Intermediate-Term Treasury ETF (VGIT) has a higher volatility of 1.05% compared to Alpha Architect Tail Risk ETF (CAOS) at 0.29%. This indicates that VGIT'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.
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Volatility by Period
| VGIT | CAOS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.05% | 0.29% | +0.76% |
Volatility (6M)Calculated over the trailing 6-month period | 2.36% | 1.04% | +1.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.32% | 1.53% | +1.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.38% | 4.25% | +1.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.50% | 4.25% | +0.25% |
VGIT vs. CAOS - Expense Ratio Comparison
VGIT has a 0.03% expense ratio, which is lower than CAOS's 0.63% expense ratio.
Dividends
VGIT vs. CAOS - Dividend Comparison
VGIT's dividend yield for the trailing twelve months is around 3.88%, while CAOS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CAOS Alpha Architect Tail Risk ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VGIT Vanguard Intermediate-Term Treasury ETF | 3.88% | 3.79% | 3.67% | 2.73% | 1.74% | 1.69% | 2.23% | 2.24% | 2.05% | 1.67% | 1.69% | 1.69% |
Frequently Asked Questions
VGIT and CAOS have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VGIT has higher volatility (1.05%) compared to CAOS (0.29%). In terms of maximum drawdown, VGIT dropped -16.05% vs CAOS's -3.60%.
On 3-year performance, CAOS leads with 4.15% vs 3.40% for VGIT. On fees, VGIT is cheaper at 0.03% per year. On volatility, CAOS has been the lower-risk option at 0.29%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, CAOS has performed better with a 4.15% return vs 3.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VGIT is cheaper with a 0.03% expense ratio, compared with 0.63% for CAOS.
VGIT has the higher dividend yield at 3.88%, compared with 0.00% for CAOS.
VGIT is categorized as Government Bonds, while CAOS is Options Trading. They also come from different issuers: Vanguard and Alpha Architect. Their fees differ too: 0.03% for VGIT and 0.63% for CAOS.
CAOS currently has the higher Sharpe Ratio (1.23 vs 1.08), 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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