VT vs. TAIL

Last updated Jun 14, 2026

VT (Vanguard Total World Stock ETF) and TAIL (Cambria Tail Risk ETF) are both exchange-traded funds - VT is a Global Equities fund tracking the FTSE Global All Cap Index, while TAIL is a Volatility Hedged Equity fund actively managed by Cambria. VT is passively managed, while TAIL is actively managed. Over the past 5 years, VT returned 10.65%/yr vs -8.40%/yr for TAIL. At a correlation of -0.65, they often move in opposite directions. VT charges 0.06%/yr vs 0.59%/yr for TAIL.

Performance

VT vs. TAIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Total World Stock ETF (VT) and Cambria Tail Risk ETF (TAIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VT achieves a 11.06% return, which is significantly higher than TAIL's -5.78% return.

VT

• 1D: 0.44%
• 1M: 0.17%
• YTD: 11.06%
• 6M: 11.82%
• 1Y: 27.43%
• 3Y*: 19.71%
• 5Y*: 10.65%
• 10Y*: 12.93%

TAIL

• 1D: -0.60%
• 1M: -0.32%
• YTD: -5.78%
• 6M: -6.25%
• 1Y: -8.88%
• 3Y*: -4.93%
• 5Y*: -8.40%
• 10Y*: —

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

VT vs. TAIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VT Vanguard Total World Stock ETF	11.06%	22.43%	16.49%	22.02%	-18.00%	18.27%	16.59%	26.81%	-9.76%	11.35%
TAIL Cambria Tail Risk ETF	-5.78%	5.48%	-9.62%	-13.29%	-13.13%	-12.81%	6.91%	-14.27%	2.85%	-7.55%

Correlation

The correlation between VT and TAIL is -0.56, 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	-0.56
Correlation (3Y) Calculated over the trailing 3-year period	-0.50
Correlation (5Y) Calculated over the trailing 5-year period	-0.62
Correlation (All Time) Calculated using the full available price history since Jun 13, 2017	-0.65

The correlation between VT and TAIL shifts across timeframes, from -0.65 (all time) to -0.50 (3 years), reflecting how their relationship changes across market environments.

VT vs. TAIL - Sectors Allocation Comparison

Sectors	VT	TAIL
Technology	27.8%	39.0%
Financial Services	15.9%	11.1%
Industrials	12.0%	7.8%
Consumer Cyclical	9.5%	9.9%
Communication Services	8.3%	10.6%
Healthcare	8.1%	8.3%
Consumer Defensive	4.8%	4.5%
Energy	4.3%	3.1%
Basic Materials	4.2%	1.7%
Utilities	2.7%	2.1%
Real Estate	2.4%	1.8%

Return for Risk

VT vs. TAIL — Risk / Return Rank

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

VT

VT Risk / Return Rank: 68
VT Sharpe Ratio Rank: 69
VT Sortino Ratio Rank: 68
VT Omega Ratio Rank: 69
VT Calmar Ratio Rank: 62
VT Martin Ratio Rank: 72

TAIL

TAIL Risk / Return Rank: 2
TAIL Sharpe Ratio Rank: 2
TAIL Sortino Ratio Rank: 2
TAIL Omega Ratio Rank: 2
TAIL Calmar Ratio Rank: 3
TAIL Martin Ratio Rank: 0

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.

VT vs. TAIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total World Stock ETF (VT) 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.

	VT	TAIL	Difference
Sharpe ratio: Return per unit of total volatility	1.94	-1.00	+2.94
Sortino ratio: Return per unit of downside risk	2.67	-1.43	+4.10
Omega ratio: Gain probability vs. loss probability	1.35	0.84	+0.51
Calmar ratio: Return relative to maximum drawdown	2.68	-0.78	+3.46
Martin ratio: Return relative to average drawdown	11.67	-1.82	+13.49

VT vs. TAIL - Sharpe Ratio Comparison

The current VT Sharpe Ratio is 1.94, which is higher than the TAIL Sharpe Ratio of -1.00. The chart below compares the historical Sharpe Ratios of VT and TAIL, 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

VT vs. TAIL - Drawdown Comparison

The maximum VT drawdown since its inception was -50.27%, roughly equal to the maximum TAIL drawdown of -52.36%. Use the drawdown chart below to compare losses from any high point for VT and TAIL.

Drawdown Indicators

	VT	TAIL	Difference
Max Drawdown Largest peak-to-trough decline	-50.27%	-52.36%	+2.09%
Max Drawdown (1Y) Largest decline over 1 year	-9.67%	-10.99%	+1.32%
Max Drawdown (3Y) Largest decline over 3 years	-16.51%	-20.69%	+4.18%
Max Drawdown (5Y) Largest decline over 5 years	-26.38%	-38.44%	+12.06%
Max Drawdown (10Y) Largest decline over 10 years	-34.24%	—	—
Current Drawdown Current decline from peak	-1.92%	-51.35%	+49.43%
Average Drawdown Average peak-to-trough decline	-7.01%	-29.18%	+22.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.22%	4.68%	-2.46%

Volatility

VT vs. TAIL - Volatility Comparison

Vanguard Total World Stock ETF (VT) has a higher volatility of 5.26% compared to Cambria Tail Risk ETF (TAIL) at 1.51%. This indicates that VT'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.

Volatility by Period

	VT	TAIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.26%	1.51%	+3.75%
Volatility (6M) Calculated over the trailing 6-month period	11.01%	6.56%	+4.45%
Volatility (1Y) Calculated over the trailing 1-year period	13.38%	8.51%	+4.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.15%	14.91%	+1.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.27%	14.92%	+2.35%

VT vs. TAIL - Expense Ratio Comparison

VT has a 0.06% expense ratio, which is lower than TAIL's 0.59% expense ratio.

Dividends

VT vs. TAIL - Dividend Comparison

VT's dividend yield for the trailing twelve months is around 1.61%, less than TAIL's 3.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TAIL Cambria Tail Risk ETF	3.48%	2.88%	3.48%	3.74%	1.50%	0.49%	0.36%	1.58%	1.52%	0.91%	0.00%	0.00%
VT Vanguard Total World Stock ETF	1.61%	1.82%	1.95%	2.08%	2.20%	1.82%	1.66%	2.32%	2.53%	2.11%	2.39%	2.45%

Frequently Asked Questions

Can I hold both VT and TAIL in my portfolio?

VT and TAIL have a correlation of -0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VT or TAIL?

VT has higher volatility (5.26%) compared to TAIL (1.51%). In terms of maximum drawdown, VT dropped -50.27% vs TAIL's -52.36%.

Which ETF is better, VT or TAIL?

On 5-year performance, VT leads with 10.65% vs -8.40% for TAIL. On fees, VT is cheaper at 0.06% per year. On volatility, TAIL has been the lower-risk option at 1.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VT or TAIL?

Over the 5-year period, VT has performed better with a 10.65% return vs -8.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VT or TAIL?

VT is cheaper with a 0.06% expense ratio, compared with 0.59% for TAIL.

Which ETF pays a higher dividend yield, VT or TAIL?

TAIL has the higher dividend yield at 3.48%, compared with 1.61% for VT.

What is the main difference between VT and TAIL?

VT is categorized as Global Equities, while TAIL is Volatility Hedged Equity. They also come from different issuers: Vanguard and Cambria. Their fees differ too: 0.06% for VT and 0.59% for TAIL.

Which has better risk-adjusted returns?

VT currently has the higher Sharpe Ratio (1.94 vs -1.00), 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.