VTV vs. CAOS

Last updated Jul 17, 2026

VTV (Vanguard Value ETF) and CAOS (Alpha Architect Tail Risk ETF) are both exchange-traded funds - VTV is a Large Cap Value Equities fund tracking the CRSP US Large Cap Value Index, while CAOS is a Options Trading fund actively managed by Alpha Architect. VTV is passively managed, while CAOS is actively managed. Over the past 3 years, VTV returned 17.95%/yr vs 3.60%/yr for CAOS. At a 0.06 correlation, their price movements are largely independent. VTV charges 0.04%/yr vs 0.63%/yr for CAOS.

Performance

VTV vs. CAOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Value ETF (VTV) 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, VTV achieves a 15.79% return, which is significantly higher than CAOS's 0.80% return.

VTV

• 1D: 0.63%
• 1M: 0.88%
• 6M: 11.46%
• YTD: 15.79%
• 1Y: 26.25%
• 3Y*: 17.95%
• 5Y*: 12.48%
• 10Y*: 12.39%

CAOS

• 1D: -0.04%
• 1M: 0.13%
• 6M: 0.30%
• YTD: 0.80%
• 1Y: 1.82%
• 3Y*: 3.60%
• 5Y*: —
• 10Y*: —

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

VTV vs. CAOS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
VTV Vanguard Value ETF	15.79%	15.27%	15.95%	8.17%
CAOS Alpha Architect Tail Risk ETF	0.80%	2.55%	5.33%	7.43%

Correlation

The correlation between VTV and CAOS is -0.24, 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	-0.24
Correlation (3Y) Calculated over the trailing 3-year period	-0.06
Correlation (All Time) Calculated using the full available price history since Mar 6, 2023	0.06

The correlation between VTV and CAOS shifts across timeframes, from -0.24 (1 year) to 0.06 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VTV vs. CAOS — Risk / Return Rank

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

VTV

VTV Risk / Return Rank: 91
VTV Sharpe Ratio Rank: 92
VTV Sortino Ratio Rank: 93
VTV Omega Ratio Rank: 90
VTV Calmar Ratio Rank: 89
VTV Martin Ratio Rank: 89

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: 60
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.

VTV vs. CAOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Value ETF (VTV) 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.

	VTV	CAOS	Difference
Sharpe ratio: Return per unit of total volatility	2.56	1.19	+1.38
Sortino ratio: Return per unit of downside risk	3.71	1.88	+1.82
Omega ratio: Gain probability vs. loss probability	1.46	1.24	+0.22
Calmar ratio: Return relative to maximum drawdown	4.15	2.41	+1.74
Martin ratio: Return relative to average drawdown	15.75	5.44	+10.31

VTV vs. CAOS - Sharpe Ratio Comparison

The current VTV Sharpe Ratio is 2.56, which is higher than the CAOS Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of VTV 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

VTV vs. CAOS - Drawdown Comparison

The maximum VTV drawdown since its inception was -59.27%, which is greater than CAOS's maximum drawdown of -3.89%. Use the drawdown chart below to compare losses from any high point for VTV and CAOS.

Drawdown Indicators

	VTV	CAOS	Difference
Max Drawdown Largest peak-to-trough decline	-59.27%	-3.89%	-55.38%
Max Drawdown (1Y) Largest decline over 1 year	-6.35%	-0.76%	-5.59%
Max Drawdown (3Y) Largest decline over 3 years	-14.52%	-3.60%	-10.92%
Max Drawdown (5Y) Largest decline over 5 years	-17.04%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-36.78%	—	—
Current Drawdown Current decline from peak	-0.32%	-1.08%	+0.76%
Average Drawdown Average peak-to-trough decline	-7.83%	-0.92%	-6.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.67%	0.34%	+1.33%

Volatility

VTV vs. CAOS - Volatility Comparison

Vanguard Value ETF (VTV) has a higher volatility of 2.67% compared to Alpha Architect Tail Risk ETF (CAOS) at 0.48%. This indicates that VTV'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

	VTV	CAOS	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.67%	0.48%	+2.19%
Volatility (6M) Calculated over the trailing 6-month period	7.77%	1.09%	+6.68%
Volatility (1Y) Calculated over the trailing 1-year period	10.30%	1.55%	+8.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.86%	4.20%	+9.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.60%	4.20%	+12.40%

VTV vs. CAOS - Expense Ratio Comparison

VTV has a 0.04% expense ratio, which is lower than CAOS's 0.63% expense ratio.

Dividends

VTV vs. CAOS - Dividend Comparison

VTV's dividend yield for the trailing twelve months is around 1.87%, 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%
VTV Vanguard Value ETF	1.87%	2.05%	2.31%	2.46%	2.52%	2.15%	2.56%	2.50%	2.73%	2.29%	2.44%	2.60%

Frequently Asked Questions

Can I hold both VTV and CAOS in my portfolio?

VTV and CAOS have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VTV or CAOS?

VTV has higher volatility (2.67%) compared to CAOS (0.48%). In terms of maximum drawdown, VTV dropped -59.27% vs CAOS's -3.89%.

Which ETF is better, VTV or CAOS?

On 3-year performance, VTV leads with 17.95% vs 3.60% for CAOS. On fees, VTV is cheaper at 0.04% per year. On volatility, CAOS has been the lower-risk option at 0.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VTV or CAOS?

Over the 3-year period, VTV has performed better with a 17.95% return vs 3.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VTV or CAOS?

VTV is cheaper with a 0.04% expense ratio, compared with 0.63% for CAOS.

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

VTV has the higher dividend yield at 1.87%, compared with 0.00% for CAOS.

What is the main difference between VTV and CAOS?

VTV is categorized as Large Cap Value Equities, while CAOS is Options Trading. They also come from different issuers: Vanguard and Alpha Architect. Their fees differ too: 0.04% for VTV and 0.63% for CAOS.

Which has better risk-adjusted returns?

VTV currently has the higher Sharpe Ratio (2.56 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.