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ETFs

Alpha Architect Tail Risk ETF

CAOS
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
Mar 03 2023
Expense Ratio
0.63%
Type
US Equities
Fund Owner
Alpha Architect
Volume (1m avg. daily)
$63,064
AUM
$154,389,835
Associated Index
None
Inverse/Leveraged
No
Passive/Active
Active
Fractionable on Composer
No
Prospectus
View

Top 10 Holdings

BOXX
EA Series Trust - Alpha Architect 1-3 Month Box ETF
63.78%
n/a
CBOE S&P PUT OPT 09/23 5000
18.62%
n/a
CBOE S&P CLL OPT 09/23 4000
9.90%
n/a
CBOE S&P PUT OPT 06/23 5000
4.09%
n/a
SPX 06/16/2023 5000.01 P
2.82%
n/a
CBOE S&P CLL OPT 06/23 4000
1.55%
n/a
SPX 06/16/2023 4000.01 C
1.07%
n/a
CBOE S&P PUT OPT 06/23 4150
0.25%
n/a
Cash & Other
0.10%
n/a
CBOE S&P PUT OPT 09/23 1900
0.08%
Invest with CAOS

What is CAOS?

The Fund is an actively managed exchange-traded fund. The Fund will invest, under normal circumstances, in a portfolio of options contracts on securities that are linked to the performance of an index whose value is based on companies with market capitalizations that qualify them as large cap companies. In order to gain Index exposure, the Fund will sell SPX Options or a combination of SPX Options that are expected to allow the Fund to realize gains if the Index remains above certain price levels expressed by the strike prices of the Fund's SPX Options contracts. Even if the Index price fails to appreciate in value, the Fund may realize gains from the option premiums paid to the Fund when such options expire worthless or when the value of such options decreases over time. These gains are attributable to the decrease in value of the SPX Options sold over time and is typically referred to as "theta". In cases where the Index falls below certain price levels, the Fund will experience gains and losses that are in line with the movement of the Index. The difference between the Index price and the strike prices of the Fund's SPX Options determines the extent of the Fund's market exposure to the Index. If the Index price remains above the strike price, the Fund will have modest Index exposure. If the Index price trades below the strike price, the Fund will have greater Index exposure. In cases where the Index price rises above certain levels, then the Fund will experience gains only up to the amount of option premium initially received. The Fund's investment exposure to the Index will generally vary between 100% exposure to the Index and -40% (i.e., short exposure to the Index), exclusive of the Protective Options as discussed below. The Fund's exposure to the Index will depend on the mix of call options and put options in the Fund's portfolio, and whether such options have been sold or purchased by the Fund.

ETFs related toCAOS

ETFs correlated to CAOS include USCA, POCT, BNOV

CAOS
EA Series Trust - Alpha Architect Tail Risk ETF
USCA
DBX ETF Trust - Xtrackers MSCI USA Climate Action Equity ETF
POCT
Innovator ETFs Trust - Innovator U.S. Equity Power Buffer ETF - October
BNOV
Innovator ETFs Trust - Innovator U.S. Equity Buffer ETF - November
USPX
Franklin Templeton ETF Trust - Franklin U.S. Equity Index ETF
DJUN
First Trust Exchange-Traded Fund VIII - FT Cboe Vest U.S. Equity Deep Buffer ETF - June
PTLC
Pacer Funds Trust - Pacer Trendpilot US Large Cap ETF
VOTE
Engine No. 1 ETF Trust - Engine No. 1 Transform 500 ETF
PBUS
Invesco Capital Management LLC - Invesco PureBeta SM MSCI USA ETF
GAPR
First Trust Exchange-Traded Fund VIII - FT Cboe Vest U.S. Equity Moderate Buffer ETF - April

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

FAQ

CAOS is a US Equities ETF. The Fund is an actively managed exchange-traded fund. The Fund will invest, under normal circumstances, in a portfolio of options contracts on securities that are linked to the performance of an index whose value is based on companies with market capitalizations that qualify them as large cap companies. In order to gain Index exposure, the Fund will sell SPX Options or a combination of SPX Options that are expected to allow the Fund to realize gains if the Index remains above certain price levels expressed by the strike prices of the Fund's SPX Options contracts. Even if the Index price fails to appreciate in value, the Fund may realize gains from the option premiums paid to the Fund when such options expire worthless or when the value of such options decreases over time. These gains are attributable to the decrease in value of the SPX Options sold over time and is typically referred to as "theta". In cases where the Index falls below certain price levels, the Fund will experience gains and losses that are in line with the movement of the Index. The difference between the Index price and the strike prices of the Fund's SPX Options determines the extent of the Fund's market exposure to the Index. If the Index price remains above the strike price, the Fund will have modest Index exposure. If the Index price trades below the strike price, the Fund will have greater Index exposure. In cases where the Index price rises above certain levels, then the Fund will experience gains only up to the amount of option premium initially received. The Fund's investment exposure to the Index will generally vary between 100% exposure to the Index and -40% (i.e., short exposure to the Index), exclusive of the Protective Options as discussed below. The Fund's exposure to the Index will depend on the mix of call options and put options in the Fund's portfolio, and whether such options have been sold or purchased by the Fund.

Yes, CAOS is actively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

No, CAOS is not passively managed. It is actively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on CAOS is 0.025%. This is the percent change in the value of CAOS over the most recent 1-month period. The 3-month return on CAOS is 0.0644%. This is the percent change in the value of CAOS over the most recent 3-month period.

ETFs similar to CAOS include PKW, VIXY, and MOAT.

ETFs correlated to CAOS include USCA, POCT, and BNOV.

ETFs that are inversely correlated to CAOS include SPXS, SDS, and SPXU.

Disclaimers

*

We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.