CAOS Alpha Architect Tail Risk ETF
Quote as of Oct 09, 2026 19:59 UTC · Market data delayed approximately 15–20 minutes unless otherwise indicated.
| Previous Close | 90.76 | Day Range | 90.84 – 91.19 |
| 52-Week Range | 89.71 – 91.26 | Volume | 51.49K |
| Avg Volume | 45.69K | AUM | $700.0M (Oct 10, 2026) |
| Expense Ratio | 0.63% | Yield (TTM) | — |
| NAV | 90.98 | Premium/Discount | +0.18% indicative |
| Inception | Aug 14, 2013 | Holdings | — |
| Issuer | Alpha Architect | Exchange | CBOE |
| Category | International | Index Tracked | Not stated in source data |
| CUSIP | 02072L516 | ISIN | US02072L5167 |
| Structure | Inverse | ||
| Management | Not stated in source data | ||
About this ETF
CAOS seeks to actively earn positive returns during periods of significant US equity drawdowns while minimizing the return drag of collateral. The fund allocates up to 20% of assets in long and/or short SPX Index options, depending on market status. Between 1-10% is allocated to protective options positioned to appreciate in value when the index declines by more than 25%, which is considered to be a tail risk event. If a tail risk event does not occur, the cost of the protective positions will reduce returns. The remaining 70-80% of the portfolio is collateral consisting of US T-bills, box spreads, and money market instruments. Up to 100% of the collateral may be placed with the BOXX ETF that uses box spreads to provide the exposure of 1-3 month T-bills. The strategy involves frequent trading which increases costs and turnover rate, both having negative impacts on the fund. CAOS operated as a mutual fund until its conversion into an ETF, starting with $126 million in net assets.
Description from the fund data provider · profile as of Oct 10, 2026.
Price Chart
Daily closing prices (price return, not total return). Comparison lines are normalized to percent change from the range start. Source: Financial Modeling Prep.
Performance
| 1M | 3M | 6M | YTD | 1Y | 3Y* | 5Y* | 10Y* | Incep.* | |
|---|---|---|---|---|---|---|---|---|---|
| Price return | +0.65% | +0.81% | +0.55% | +1.51% | +1.71% | +3.64% | — | — | +4.81% |
| Total return | +0.65% | +0.81% | +0.55% | +1.51% | +1.71% | +3.64% | — | — | +4.81% |
* Annualized. Total return uses the dividend-adjusted price series (distributions reinvested); price return uses unadjusted closes. Performance through Oct 09, 2026. Past performance does not guarantee future results.
Fees
| Net expense ratio | 0.63% | Annual cost of a $10,000 investment | $63.00 |
Illustrative calculation only: expense ratio × $10,000. It excludes trading costs, bid/ask spreads, taxes and changes in investment value. Gross vs. net expense details and any fee waivers are in the prospectus.
Holdings
Holdings as of Oct 10, 2026 · portfolio reporting date from the data provider; holdings are not live positions. 17 rows in database.
| # | Holding | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|---|
| 1 | SPY 12/18/2026 10010.01 P | — | 88.81% | 684 | $626.0M |
| 2 | SPX US 12/18/26 P13400 | — | 19.88% | 255 | $140.1M |
| 3 | SPY 12/18/2026 10.01 C | — | 7.43% | 684 | $52.4M |
| 4 | SPX US 02/19/27 P3200 | — | 0.17% | 4.59K | $1.2M |
| 5 | SPX US 01/15/27 P3200 | — | 0.15% | 7.79K | $1.1M |
| 6 | First American Government Obligations Fund… | — | 0.12% | 825.64K | $830.0K |
| 7 | SPX US 12/18/26 P2900 | — | 0.04% | 8.24K | $290.0K |
| 8 | SPX US 12/18/26 C8000 | — | 0.03% | 22 | $240.0K |
| 9 | SPX US 11/20/26 P2800 | — | 0.01% | 8.38K | $100.0K |
| 10 | SPX US 12/18/26 P7000 | — | 0.01% | 22 | $80.0K |
| 11 | SPX US 10/16/26 P2600 | — | 0.00% | 8.20K | $20.0K |
| 12 | SPY 12/18/2026 10.01 P | — | 0.00% | -684 | -$10.0K |
| 13 | SPY 12/18/2026 10010.01 C | — | 0.00% | -684 | -$10.0K |
| 14 | Cash & Other | — | -0.02% | -138.99K | -$140.0K |
| 15 | SPX US 12/18/26 P8000 | — | -0.08% | -22 | -$540.0K |
| 16 | SPX US 12/18/26 C7000 | — | -0.28% | -22 | -$1.9M |
| 17 | SPX US 12/18/26 P12400 | — | -16.29% | -255 | -$114.8M |
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Sector Exposure
Geographic Exposure
Country weights as reported by the data provider. Developed/emerging/frontier labels follow the classification on the Methodology page. Currency hedged: No hedging indicated in the fund name.
Distributions
| Yield (TTM) | — | Paid (last 12 months) | — |
| Frequency | — | SEC yield | Not provided by our data source; see the issuer page |
| Last ex-date | — | Last payment | — |
| Growth 1Y | — | Growth 3Y / 5Y (ann.) | — / — |
No distributions in our database for this fund; it may not pay them, or history has not loaded yet.
Risk Statistics
| Volatility 1Y / 3Y | 1.66% / 3.45% | Sharpe 1Y / 3Y | -1.62 / -0.104 |
| Max drawdown 1Y / 3Y | -0.75% / -3.60% | Sortino 1Y | -2.58 |
| Beta vs S&P 500 (3Y) | -0.101 | Correlation vs S&P 500 (1Y) | -0.35 |
| Downside deviation 1Y | 1.04% | Risk-free rate used | 4.05% (3M T-bill, FRED) |
Computed by ETF Explorer from daily dividend-adjusted closes; volatility and drawdown are annualized/period figures; S&P 500 exposure proxied by SPY. As of Oct 11, 2026. Formulas →
Liquidity
| Volume today | 51.49K | Average volume | 45.69K |
| AUM | $700.0M | Premium/Discount | +0.18% |
| Bid/Ask spread | Not provided by our data source. Check your broker's quote screen; spreads are widest at the open and close. | ||
Premium/discount compares the delayed market price with the last reported NAV: an indicative figure, not the official closing premium/discount. How ETF liquidity works →
Fund Flows (estimated)
| Period | Est. net flow | % of starting AUM | AUM start → end |
|---|---|---|---|
| 1 Day | $0.00 | 0.00% | $700.0M → $700.0M |
| 1 Month | $18.0M | +2.66% | $677.3M → $700.0M |
| 1 Week | $1.7M | +0.25% | $694.5M → $700.0M |
ETF Explorer estimate: change in reported AUM minus the market-move effect, from our own daily snapshots. Not official issuer creation/redemption data.
Official Fund Resources
External links open the issuer's site or SEC EDGAR in a new tab. The prospectus and official documents are always the authoritative source; review them before investing.
Latest News for CAOS
No articles mention this fund directly in the last 7 days; showing general ETF coverage.
Guided help: AUM is fund size. The expense ratio is the yearly cost baked into returns. NAV is the value of what the fund owns per share; the market price can sit slightly above (premium) or below (discount) it. Total return assumes distributions were reinvested. Every dataset shows its own as-of date because holdings, assets and quotes update on different schedules.