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ETFs

Alpha Architect Tail Risk ETF

CAOS
$—
Today’s Change
— (—)

Snapshot
*

Inception Date
Sep 3, 2013
Expense Ratio
0.63%
Type
US Equities
Fund Owner
Alpha Architect
Volume (1m avg. daily)
$113,894
AUM
$166,034,976
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
65.15%
—
CBOE S&P PUT OPT 12/23 7300
38.78%
—
MELI 10/27/2023 1346.17 P
16.95%
—
CBOE S&P PUT OPT 01/24 5000
11.96%
—
CBOE S&P CLL OPT 01/24 4000
8.41%
—
MELI 10/27/2023 1331.17 C
6.58%
—
CBOE S&P PUT OPT 09/23 4350
1.17%
—
CBOE S&P PUT OPT 12/23 5000
0.35%
—
CBOE S&P CLL OPT 12/23 4000
0.22%
—
Cash & Other
0.12%
Invest with CAOS
Trade CAOS Options

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.

1M
3M
6M
YTD
1Y
3Y
Max
www.composer.trade

CAOS
Performance Measures**

for the time period Mar 6, 2023 to Dec 4, 2025

Returns

1M Trailing Return: -0.2%

The percent change in the value over the most recent 1-month period.

3M Trailing Return: 0.5%

The percent change in the value over the most recent 3-month period.

Measures of Risk or Volatility

Max Drawdown: -3.6%

The greatest percent loss from peak to trough in value over the time period.

Standard Deviation: 4.5%

The typical amount that daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

Measures of Risk-Adjusted Performance

Sharpe Ratio: 1.26

The annualized arithmetic mean of the daily returns divided by the annualized standard deviation of the daily returns for the selected time period.

Calmar Ratio: 1.62

The annualized return divided by the max drawdown for the selected time period.

ETFs related toCAOS

ETFs correlated to CAOS include POCT, XDEC, DMAY

CAOS
EA Series Trust - Alpha Architect Tail Risk ETF
POCT
Innovator ETFs Trust - Innovator U.S. Equity Power Buffer ETF - October
XDEC
First Trust Exchange-Traded Fund VIII - FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December
DMAY
First Trust Exchange-Traded Fund VIII - FT Cboe Vest U.S. Equity Deep Buffer ETF - May
DOCT
First Trust Exchange-Traded Fund VIII - FT Cboe Vest U.S. Equity Deep Buffer ETF - October
XSEP
First Trust Exchange-Traded Fund VIII - FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September
FMAY
First Trust Exchange-Traded Fund VIII - FT Cboe Vest U.S. Equity Buffer ETF - May
DJUL
First Trust Exchange-Traded Fund VIII - FT Cboe Vest U.S. Equity Deep Buffer ETF - July
PJAN
Innovator ETFs Trust - Innovator U.S. Equity Power Buffer ETF - January
XBJL
Innovator ETFs Trust - Innovator U.S. Equity Accelerated 9 Buffer ETF - July

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.

Trading Strategies
Related toCAOS

beluga | Ether

Category

Multi-asset, risk-managed, leveraged equity, momentum, managed futures, market-neutral, gold

OOS Cumulative Return

17.49%

(A) Unlevered KMLM/IYT/CORP 100% Win Rate BIL (43/6 2023) 14 STD

Category

Tactical asset allocation, momentum (RSI) rotation, sector rotation, risk-on/risk-off, volatility hedge, managed-futures signal, daily rebalance

OOS Cumulative Return

9.82%

Create your own algorithmic trading strategy with CAOS using Composer

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 0.0018%. This is the percent change in the value of CAOS over the most recent 1-month period. The 3-month return on CAOS is 0.0123%. 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 XYLD.

ETFs correlated to CAOS include POCT, XDEC, and DMAY.

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

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.