WTPI vs. CAOS
WTPI (WisdomTree Equity Premium Income Fund) and CAOS (Alpha Architect Tail Risk ETF) are both exchange-traded funds - WTPI is a Derivative Income fund tracking the Volos U.S. Large Cap Target 2.5% PutWrite Index, while CAOS is a Options Trading fund actively managed by Alpha Architect. WTPI is passively managed, while CAOS is actively managed. Over the past 3 years, WTPI returned 12.46%/yr vs 3.48%/yr for CAOS. Their 0.09 correlation means their historical movements had little consistent relationship. WTPI charges 0.44%/yr vs 0.63%/yr for CAOS.
Performance
WTPI vs. CAOS - Performance Comparison
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Returns By Period
In the year-to-date period, WTPI achieves a 5.32% return, which is significantly higher than CAOS's 0.76% return.
WTPI
- 1D
- 0.55%
- 1M
- 0.95%
- 6M
- 2.85%
- YTD
- 5.32%
- 1Y
- 16.02%
- 3Y*
- 12.46%
- 5Y*
- 9.43%
- 10Y*
- 8.14%
- ALL TIME*
- 8.55%
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 | |
| $3.48M | $3.05M | $2.95M |
WTPI vs. CAOS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
WTPI WisdomTree Equity Premium Income Fund | 5.32% | 14.45% | 17.18% | 10.43% |
CAOS Alpha Architect Tail Risk ETF | 0.76% | 2.55% | 5.33% | 7.43% |
Correlation
The correlation between WTPI and CAOS is -0.33, 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. | -0.33 |
Correlation (3Y) Balances recent behavior with more history. | -0.03 |
Correlation (All Time) Calculated using the full available price history since Mar 6, 2023 | 0.09 |
The correlation between WTPI and CAOS shifts across timeframes, from -0.33 (1 year) to 0.09 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
WTPI vs. CAOS — Risk / Return Rank
WTPI
CAOS
WTPI vs. CAOS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Equity Premium Income Fund (WTPI) 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.
| WTPI | CAOS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.35 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.24 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.06 | 2.47 | -0.41 |
| Martin ratioReturn relative to average drawdown | 9.57 | 5.45 | +4.12 |
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Drawdowns
WTPI vs. CAOS - Drawdown Comparison
The maximum WTPI drawdown since its inception was -28.40%, which is greater than CAOS's maximum drawdown of -3.89%. Use the drawdown chart below to compare losses from any high point for WTPI and CAOS.
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Drawdown Indicators
| WTPI | CAOS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.40% | -3.89% | -24.51% |
Max Drawdown (1Y)Largest decline over 1 year | -7.15% | -0.76% | -6.39% |
Max Drawdown (3Y)Largest decline over 3 years | -15.26% | -3.60% | -11.66% |
Max Drawdown (5Y)Largest decline over 5 years | -16.56% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -28.40% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.13% | +1.13% |
Average DrawdownAverage peak-to-trough decline | -3.40% | -0.92% | -2.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.54% | 0.34% | +1.20% |
Volatility
WTPI vs. CAOS - Volatility Comparison
WisdomTree Equity Premium Income Fund (WTPI) has a higher volatility of 2.46% compared to Alpha Architect Tail Risk ETF (CAOS) at 0.51%. This indicates that WTPI'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
| WTPI | CAOS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.46% | 0.51% | +1.95% |
Volatility (6M)Calculated over the trailing 6-month period | 7.47% | 1.07% | +6.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.54% | 1.57% | +7.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.22% | 4.18% | +8.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.25% | 4.18% | +9.07% |
WTPI vs. CAOS - Expense Ratio Comparison
WTPI has a 0.44% expense ratio, which is lower than CAOS's 0.63% expense ratio.
Dividends
WTPI vs. CAOS - Dividend Comparison
WTPI's dividend yield for the trailing twelve months is around 12.22%, while CAOS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
WTPI WisdomTree Equity Premium Income Fund | 12.22% | 13.18% | 11.99% | 8.94% | 3.27% | 0.00% | 1.43% | 1.47% | 6.46% | 3.52% | 2.27% |
Frequently Asked Questions
WTPI and CAOS have a correlation of -0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WTPI has higher volatility (2.46%) compared to CAOS (0.51%). In terms of maximum drawdown, WTPI dropped -28.40% vs CAOS's -3.89%.
On 3-year performance, WTPI leads with 12.46% vs 3.48% for CAOS. On fees, WTPI is cheaper at 0.44% 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, WTPI has performed better with a 12.46% return vs 3.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
WTPI is cheaper with a 0.44% expense ratio, compared with 0.63% for CAOS.
WTPI has the higher dividend yield at 12.22%, compared with 0.00% for CAOS.
WTPI is categorized as Derivative Income, while CAOS is Options Trading. They also come from different issuers: WisdomTree and Alpha Architect. Their fees differ too: 0.44% for WTPI and 0.63% for CAOS.
WTPI currently has the higher Sharpe Ratio (1.54 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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