WDAF vs. CAOS

Last updated Jun 24, 2026

WDAF (WisdomTree Asia Defense Fund) and CAOS (Alpha Architect Tail Risk ETF) are both exchange-traded funds - WDAF is a Aerospace & Defense fund tracking the WisdomTree Asia Defense Index, while CAOS is a Options Trading fund actively managed by Alpha Architect. WDAF is passively managed, while CAOS is actively managed. At a correlation of -0.14, they often move in opposite directions. WDAF charges 0.45%/yr vs 0.63%/yr for CAOS.

Performance

WDAF vs. CAOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Asia Defense Fund (WDAF) 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, WDAF achieves a 10.54% return, which is significantly higher than CAOS's 0.71% return.

WDAF

• 1D: -5.17%
• 1M: -7.02%
• YTD: 10.54%
• 6M: 9.61%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CAOS

• 1D: -0.04%
• 1M: -0.12%
• YTD: 0.71%
• 6M: 0.61%
• 1Y: 1.62%
• 3Y*: 3.94%
• 5Y*: —
• 10Y*: —

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

WDAF vs. CAOS - Yearly Performance Comparison

	2026 (YTD)	2025
WDAF WisdomTree Asia Defense Fund	10.54%	-7.71%
CAOS Alpha Architect Tail Risk ETF	0.71%	0.29%

Correlation

The correlation between WDAF and CAOS is -0.14, 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 (All Time) Calculated using the full available price history since Sep 12, 2025	-0.14

Return for Risk

WDAF vs. CAOS — Risk / Return Rank

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

WDAF

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

CAOS

CAOS Risk / Return Rank: 36
CAOS Sharpe Ratio Rank: 31
CAOS Sortino Ratio Rank: 34
CAOS Omega Ratio Rank: 34
CAOS Calmar Ratio Rank: 45
CAOS Martin Ratio Rank: 36

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.

WDAF vs. CAOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Asia Defense Fund (WDAF) 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.

	WDAF	CAOS	Difference
Sharpe ratio: Return per unit of total volatility	—	1.08	—
Sortino ratio: Return per unit of downside risk	—	1.72	—
Omega ratio: Gain probability vs. loss probability	—	1.22	—
Calmar ratio: Return relative to maximum drawdown	—	2.15	—
Martin ratio: Return relative to average drawdown	—	5.18	—

Drawdowns

WDAF vs. CAOS - Drawdown Comparison

The maximum WDAF drawdown since its inception was -20.11%, which is greater than CAOS's maximum drawdown of -3.89%. Use the drawdown chart below to compare losses from any high point for WDAF and CAOS.

Drawdown Indicators

	WDAF	CAOS	Difference
Max Drawdown Largest peak-to-trough decline	-20.11%	-3.89%	-16.22%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.76%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-3.60%	—
Current Drawdown Current decline from peak	-17.04%	-1.18%	-15.86%
Average Drawdown Average peak-to-trough decline	-6.70%	-0.92%	-5.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.32%	—

Volatility

Volatility by Period

	WDAF	CAOS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.32%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.05%	—
Volatility (1Y) Calculated over the trailing 1-year period	32.59%	1.50%	+31.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.59%	4.23%	+28.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.59%	4.23%	+28.36%

WDAF vs. CAOS - Expense Ratio Comparison

WDAF has a 0.45% expense ratio, which is lower than CAOS's 0.63% expense ratio.

Dividends

WDAF vs. CAOS - Dividend Comparison

WDAF's dividend yield for the trailing twelve months is around 0.12%, while CAOS has not paid dividends to shareholders.

Position	TTM	2025
CAOS Alpha Architect Tail Risk ETF	0.00%	0.00%
WDAF WisdomTree Asia Defense Fund	0.12%	0.13%

Frequently Asked Questions

Can I hold both WDAF and CAOS in my portfolio?

WDAF and CAOS have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, WDAF or CAOS?

On fees, WDAF is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, WDAF or CAOS?

WDAF is cheaper with a 0.45% expense ratio, compared with 0.63% for CAOS.

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

WDAF has the higher dividend yield at 0.12%, compared with 0.00% for CAOS.

What is the main difference between WDAF and CAOS?

WDAF is categorized as Aerospace & Defense, while CAOS is Options Trading. They also come from different issuers: WisdomTree and Alpha Architect. Their fees differ too: 0.45% for WDAF and 0.63% for CAOS.