XLCI vs. CAOS

Last updated Jul 3, 2026

XLCI (State Street Communication Services Select Sector SPDR Premium Income ETF) and CAOS (Alpha Architect Tail Risk ETF) are both exchange-traded funds - XLCI is a Derivative Income fund actively managed by State Street, while CAOS is a Options Trading fund actively managed by Alpha Architect. Both are actively managed. At a correlation of -0.25, they often move in opposite directions. XLCI charges 0.35%/yr vs 0.63%/yr for CAOS.

Performance

XLCI vs. CAOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Communication Services Select Sector SPDR Premium Income ETF (XLCI) 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, XLCI achieves a -2.03% return, which is significantly lower than CAOS's 0.77% return.

XLCI

• 1D: -0.06%
• 1M: -2.40%
• 6M: -2.03%
• YTD: -2.03%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CAOS

• 1D: 0.21%
• 1M: 0.08%
• 6M: 0.77%
• YTD: 0.77%
• 1Y: 1.82%
• 3Y*: 3.80%
• 5Y*: —
• 10Y*: —

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

XLCI vs. CAOS - Yearly Performance Comparison

	2026 (YTD)	2025
XLCI State Street Communication Services Select Sector SPDR Premium Income ETF	-2.03%	6.73%
CAOS Alpha Architect Tail Risk ETF	0.77%	1.07%

Correlation

The correlation between XLCI and CAOS is -0.25, 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 Jul 30, 2025	-0.25

Return for Risk

XLCI vs. CAOS — Risk / Return Rank

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

XLCI

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

CAOS

CAOS Risk / Return Rank: 45
CAOS Sharpe Ratio Rank: 39
CAOS Sortino Ratio Rank: 43
CAOS Omega Ratio Rank: 44
CAOS Calmar Ratio Rank: 58
CAOS Martin Ratio Rank: 41

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.

XLCI vs. CAOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Communication Services Select Sector SPDR Premium Income ETF (XLCI) 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.

	XLCI	CAOS	Difference
Sharpe ratio: Return per unit of total volatility	—	1.20	—
Sortino ratio: Return per unit of downside risk	—	1.90	—
Omega ratio: Gain probability vs. loss probability	—	1.24	—
Calmar ratio: Return relative to maximum drawdown	—	2.42	—
Martin ratio: Return relative to average drawdown	—	5.63	—

Drawdowns

XLCI vs. CAOS - Drawdown Comparison

The maximum XLCI drawdown since its inception was -8.44%, which is greater than CAOS's maximum drawdown of -3.89%. Use the drawdown chart below to compare losses from any high point for XLCI and CAOS.

Drawdown Indicators

	XLCI	CAOS	Difference
Max Drawdown Largest peak-to-trough decline	-8.44%	-3.89%	-4.55%
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	-5.01%	-1.11%	-3.90%
Average Drawdown Average peak-to-trough decline	-1.84%	-0.92%	-0.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.32%	—

Volatility

Volatility by Period

	XLCI	CAOS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.43%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.10%	—
Volatility (1Y) Calculated over the trailing 1-year period	11.48%	1.53%	+9.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.48%	4.22%	+7.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.48%	4.22%	+7.26%

XLCI vs. CAOS - Expense Ratio Comparison

XLCI has a 0.35% expense ratio, which is lower than CAOS's 0.63% expense ratio.

Dividends

XLCI vs. CAOS - Dividend Comparison

XLCI's dividend yield for the trailing twelve months is around 11.66%, while CAOS has not paid dividends to shareholders.

Position	TTM	2025
CAOS Alpha Architect Tail Risk ETF	0.00%	0.00%
XLCI State Street Communication Services Select Sector SPDR Premium Income ETF	11.66%	5.23%

Frequently Asked Questions

Can I hold both XLCI and CAOS in my portfolio?

XLCI and CAOS have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XLCI or CAOS?

On fees, XLCI is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XLCI or CAOS?

XLCI is cheaper with a 0.35% expense ratio, compared with 0.63% for CAOS.

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

XLCI has the higher dividend yield at 11.66%, compared with 0.00% for CAOS.

What is the main difference between XLCI and CAOS?

XLCI is categorized as Derivative Income, while CAOS is Options Trading. They also come from different issuers: State Street and Alpha Architect. Their fees differ too: 0.35% for XLCI and 0.63% for CAOS.