CAOS vs HF
Alpha Architect Tail Risk ETF vs DGA Core Plus Absolute Return ETF
Which is better, CAOS or HF?
HF has been ahead.
CAOS has a lower expense ratio. HF led over 1Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | CAOS | HF |
|---|---|---|
| Expense Ratio | 0.63%Best | 1.70% |
| AUM | $705M | $21M |
| Dividend Yield | 0.00% | 0.89% |
| Holdings | 12 | 57 |
| Volatility (annualized) | 2.1%Best | 7.3% |
| Max Drawdown | -2.1%Best | -4.3% |
| $10,000 over 1.4 years | $10,720 | $11,548Best |
| Fund Family | Alpha Architect | Days Global Advisors |
| Category | Alternative | Alternative |
| Style | Multi Alternative | Multi Alternative |
| Inception | Aug 14, 2013 | Aug 2, 2023 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized), Top 10 Weight.
The two price series end 671 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. CAOS has data through Oct 14, 2026 and HF through Dec 12, 2024.
Volatility and max drawdown, and the $10,000 over 1.4 years row, are measured over the window both funds cover: Aug 3, 2023 to Dec 12, 2024 (1.4 years).
Risk: Volatility and Drawdowns
HF has been the more volatile fund, with annualized monthly volatility of 7.3% compared with 2.1% for CAOS. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -2.1% for CAOS and -4.3% for HF. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.70. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CAOS charges 0.63% per year while HF charges 1.70%. On a $10,000 position that is $63 vs $170 annually, a gap of $107 per year that compounds over a long holding period. On income, CAOS currently yields 0.00% against 0.89% for HF.
Holdings Overlap
At least 49.8% of HF's money is in holdings CAOS also owns.
Stated as a floor: for CAOS, our book for it covers 0.1% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
The two portfolios partly overlap.
1 positions in common, counted across the 1 positions we hold weights for in CAOS and 16 in HF, against full books of 12 and 57.
Top Shared Holdings
| Stock | Weight in CAOS | Weight in HF | Difference |
|---|---|---|---|
| FGXXXFirst American Government Obligations Fund | 0.10% | 49.75% | 49.65% |
49.8% of HF is already inside CAOS.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CAOS or HF?
CAOS has an expense ratio of 0.63% while HF charges 1.70%. CAOS is the cheaper option, by $107 a year on a $10,000 investment.
Which is riskier, CAOS or HF?
HF has been the more volatile fund at 7.3% annualized versus 2.1% for CAOS. Worst drawdown: CAOS -2.1% vs HF -4.3%.
Should I hold both CAOS and HF?
CAOS and HF have a monthly-return correlation of 0.70, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between CAOS and HF?
At least 49.8% of HF's money is in holdings CAOS also owns. Our book for CAOS is partial, so the real figure is this or higher. They hold 1 positions in common, counted across the 1 positions we hold weights for in CAOS and 16 in HF.
Which pays a higher dividend, CAOS or HF?
CAOS yields 0.00% while HF yields 0.89%, so HF currently pays the higher dividend yield.
Is HF better than CAOS?
CAOS has a lower expense ratio. HF led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.