VIOV vs. CAOS
VIOV (Vanguard S&P Small-Cap 600 Value ETF) and CAOS (Alpha Architect Tail Risk ETF) are both exchange-traded funds - VIOV is a Small Cap Value Equities fund tracking the S&P SmallCap 600 Value Index, while CAOS is a Options Trading fund actively managed by Alpha Architect. VIOV is passively managed, while CAOS is actively managed. Over the past 3 years, VIOV returned 12.68%/yr vs 3.48%/yr for CAOS. Their 0.01 correlation means their historical movements had little consistent relationship. VIOV charges 0.10%/yr vs 0.63%/yr for CAOS.
Performance
VIOV vs. CAOS - Performance Comparison
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Returns By Period
In the year-to-date period, VIOV achieves a 20.41% return, which is significantly higher than CAOS's 0.76% return.
VIOV
- 1D
- 0.17%
- 1M
- 0.49%
- 6M
- 12.83%
- YTD
- 20.41%
- 1Y
- 39.50%
- 3Y*
- 12.68%
- 5Y*
- 8.14%
- 10Y*
- 10.33%
- ALL TIME*
- 11.84%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $6.81M | $5.39M | $5.09M | |
| $4.48M | $4.51M | $5.05M |
VIOV vs. CAOS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
VIOV Vanguard S&P Small-Cap 600 Value ETF | 20.41% | 6.63% | 7.44% | 2.43% |
CAOS Alpha Architect Tail Risk ETF | 0.76% | 2.55% | 5.33% | 7.43% |
Correlation
The correlation between VIOV and CAOS is -0.31, 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. | -0.31 |
Correlation (3Y) Balances recent behavior with more history. | -0.12 |
Correlation (All Time) Calculated using the full available price history since Mar 6, 2023 | 0.01 |
The correlation between VIOV and CAOS shifts across timeframes, from -0.31 (1 year) to 0.01 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VIOV vs. CAOS — Risk / Return Rank
VIOV
CAOS
VIOV vs. CAOS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Small-Cap 600 Value ETF (VIOV) 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.
| VIOV | CAOS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.91 | ||
| Sortino ratioReturn per unit of downside risk | +1.15 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.24 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 4.00 | 2.47 | +1.53 |
| Martin ratioReturn relative to average drawdown | 13.68 | 5.45 | +8.24 |
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Drawdowns
VIOV vs. CAOS - Drawdown Comparison
The maximum VIOV drawdown since its inception was -47.36%, which is greater than CAOS's maximum drawdown of -3.89%. Use the drawdown chart below to compare losses from any high point for VIOV and CAOS.
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Drawdown Indicators
| VIOV | CAOS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.36% | -3.89% | -43.47% |
Max Drawdown (1Y)Largest decline over 1 year | -9.33% | -0.76% | -8.57% |
Max Drawdown (3Y)Largest decline over 3 years | -28.44% | -3.60% | -24.84% |
Max Drawdown (5Y)Largest decline over 5 years | -28.44% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -47.36% | — | — |
Current DrawdownCurrent decline from peak | -1.44% | -1.13% | -0.31% |
Average DrawdownAverage peak-to-trough decline | -7.31% | -0.92% | -6.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.72% | 0.34% | +2.38% |
Volatility
VIOV vs. CAOS - Volatility Comparison
Vanguard S&P Small-Cap 600 Value ETF (VIOV) has a higher volatility of 3.57% compared to Alpha Architect Tail Risk ETF (CAOS) at 0.51%. This indicates that VIOV'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
| VIOV | CAOS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.57% | 0.51% | +3.06% |
Volatility (6M)Calculated over the trailing 6-month period | 11.07% | 1.07% | +10.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.78% | 1.57% | +16.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.67% | 4.18% | +17.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.82% | 4.18% | +19.64% |
VIOV vs. CAOS - Expense Ratio Comparison
VIOV has a 0.10% expense ratio, which is lower than CAOS's 0.63% expense ratio.
Dividends
VIOV vs. CAOS - Dividend Comparison
VIOV's dividend yield for the trailing twelve months is around 1.68%, 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% |
VIOV Vanguard S&P Small-Cap 600 Value ETF | 1.68% | 1.69% | 1.78% | 2.18% | 1.81% | 1.59% | 1.42% | 1.60% | 1.76% | 1.43% | 1.17% | 1.32% |
Frequently Asked Questions
VIOV and CAOS have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VIOV has higher volatility (3.57%) compared to CAOS (0.51%). In terms of maximum drawdown, VIOV dropped -47.36% vs CAOS's -3.89%.
On 3-year performance, VIOV leads with 12.68% vs 3.48% for CAOS. On fees, VIOV is cheaper at 0.10% 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.
Over the 3-year period, VIOV has performed better with a 12.68% return vs 3.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VIOV is cheaper with a 0.10% expense ratio, compared with 0.63% for CAOS.
VIOV has the higher dividend yield at 1.68%, compared with 0.00% for CAOS.
VIOV is categorized as Small Cap Value Equities, while CAOS is Options Trading. They also come from different issuers: Vanguard and Alpha Architect. Their fees differ too: 0.10% for VIOV and 0.63% for CAOS.
VIOV currently has the higher Sharpe Ratio (2.10 vs 1.19), 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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