VNIE vs. CAOS

Last updated Jul 12, 2026

VNIE (Vontobel International Equity Active ETF) and CAOS (Alpha Architect Tail Risk ETF) are both exchange-traded funds - VNIE is a Foreign Large Cap Equities fund actively managed by Vontobel, while CAOS is a Options Trading fund actively managed by Alpha Architect. Both are actively managed. Over the past year, VNIE returned -0.05% vs 1.81% for CAOS. At a correlation of -0.26, they often move in opposite directions. VNIE charges 0.60%/yr vs 0.63%/yr for CAOS.

Performance

VNIE vs. CAOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vontobel International Equity Active ETF (VNIE) 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, VNIE achieves a 4.18% return, which is significantly higher than CAOS's 0.70% return.

VNIE

• 1D: 0.09%
• 1M: -0.56%
• 6M: 2.28%
• YTD: 4.18%
• 1Y: -0.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CAOS

• 1D: 0.01%
• 1M: -0.04%
• 6M: 0.23%
• YTD: 0.70%
• 1Y: 1.81%
• 3Y*: 3.68%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

VNIE vs. CAOS - Yearly Performance Comparison

	2026 (YTD)	2025
VNIE Vontobel International Equity Active ETF	4.18%	-1.01%
CAOS Alpha Architect Tail Risk ETF	0.70%	1.60%

Correlation

The correlation between VNIE and CAOS is -0.31, 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	-0.31
Correlation (All Time) Calculated using the full available price history since May 15, 2025	-0.26

Return for Risk

VNIE vs. CAOS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VNIE

VNIE Risk / Return Rank: 8
VNIE Sharpe Ratio Rank: 9
VNIE Sortino Ratio Rank: 8
VNIE Omega Ratio Rank: 8
VNIE Calmar Ratio Rank: 9
VNIE Martin Ratio Rank: 8

CAOS

CAOS Risk / Return Rank: 46
CAOS Sharpe Ratio Rank: 40
CAOS Sortino Ratio Rank: 45
CAOS Omega Ratio Rank: 45
CAOS Calmar Ratio Rank: 59
CAOS Martin Ratio Rank: 42

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VNIE vs. CAOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vontobel International Equity Active ETF (VNIE) 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.

	VNIE	CAOS	Difference
Sharpe ratio: Return per unit of total volatility	-0.05	1.15	-1.20
Sortino ratio: Return per unit of downside risk	0.05	1.83	-1.79
Omega ratio: Gain probability vs. loss probability	1.01	1.23	-0.23
Calmar ratio: Return relative to maximum drawdown	-0.06	2.37	-2.43
Martin ratio: Return relative to average drawdown	-0.18	5.39	-5.57

VNIE vs. CAOS - Sharpe Ratio Comparison

The current VNIE Sharpe Ratio is -0.05, which is lower than the CAOS Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of VNIE 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

VNIE vs. CAOS - Drawdown Comparison

The maximum VNIE drawdown since its inception was -13.11%, which is greater than CAOS's maximum drawdown of -3.89%. Use the drawdown chart below to compare losses from any high point for VNIE and CAOS.

Drawdown Indicators

	VNIE	CAOS	Difference
Max Drawdown Largest peak-to-trough decline	-13.11%	-3.89%	-9.22%
Max Drawdown (1Y) Largest decline over 1 year	-13.11%	-0.76%	-12.35%
Max Drawdown (3Y) Largest decline over 3 years	—	-3.60%	—
Current Drawdown Current decline from peak	-4.34%	-1.19%	-3.15%
Average Drawdown Average peak-to-trough decline	-4.19%	-0.92%	-3.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.10%	0.33%	+4.77%

Volatility

VNIE vs. CAOS - Volatility Comparison

Vontobel International Equity Active ETF (VNIE) has a higher volatility of 6.00% compared to Alpha Architect Tail Risk ETF (CAOS) at 0.49%. This indicates that VNIE'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

	VNIE	CAOS	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.00%	0.49%	+5.51%
Volatility (6M) Calculated over the trailing 6-month period	15.19%	1.12%	+14.07%
Volatility (1Y) Calculated over the trailing 1-year period	16.65%	1.56%	+15.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.88%	4.21%	+11.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.88%	4.21%	+11.67%

VNIE vs. CAOS - Expense Ratio Comparison

VNIE has a 0.60% expense ratio, which is lower than CAOS's 0.63% expense ratio.

Dividends

VNIE vs. CAOS - Dividend Comparison

VNIE's dividend yield for the trailing twelve months is around 0.31%, while CAOS has not paid dividends to shareholders.

Position	TTM	2025
CAOS Alpha Architect Tail Risk ETF	0.00%	0.00%
VNIE Vontobel International Equity Active ETF	0.31%	0.32%

Frequently Asked Questions

Can I hold both VNIE and CAOS in my portfolio?

VNIE 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.

Which is riskier, VNIE or CAOS?

VNIE has higher volatility (6.00%) compared to CAOS (0.49%). In terms of maximum drawdown, VNIE dropped -13.11% vs CAOS's -3.89%.

Which ETF is better, VNIE or CAOS?

On 1-year performance, CAOS leads with 1.81% vs -0.05% for VNIE. On fees, VNIE is cheaper at 0.60% per year. On volatility, CAOS has been the lower-risk option at 0.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VNIE or CAOS?

Over the 1-year period, CAOS has performed better with a 1.81% return vs -0.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VNIE or CAOS?

VNIE is cheaper with a 0.60% expense ratio, compared with 0.63% for CAOS.

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

VNIE has the higher dividend yield at 0.31%, compared with 0.00% for CAOS.

What is the main difference between VNIE and CAOS?

VNIE is categorized as Foreign Large Cap Equities, while CAOS is Options Trading. They also come from different issuers: Vontobel and Alpha Architect. Their fees differ too: 0.60% for VNIE and 0.63% for CAOS.

Which has better risk-adjusted returns?

CAOS currently has the higher Sharpe Ratio (1.15 vs -0.05), 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.