CAOS vs IVV
Alpha Architect Tail Risk ETF vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | CAOS | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.63% | 0.03% | |
| AUM | $719M | $865.2B | |
| Dividend Yield | 0.00% | 1.09% | |
| Holdings | 17 | 508 | |
| YTD Return | +0.73% | +13.43% | |
| 1Y Return | +1.36% | +22.61% | |
| 3Y Return (annualized) | +3.41% | +21.47% | |
| 5Y Return (annualized) | - | +13.26% | |
| Volatility (annualized) | 2.0% | 15.1% | |
| Max Drawdown | -3.6% | -56.5% | |
| Fund Family | Alpha Architect | iShares by BlackRock (US) | |
| Category | Alternative | Equity | |
| Inception | Mar 6, 2023 | May 15, 2000 |
CAOS vs IVV Performance
Alpha Architect Tail Risk ETF (CAOS) is a ETF from Alpha Architect and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year CAOS returned +1.36% while IVV returned +22.61%. Year to date, CAOS is up 0.73% versus a gain of 13.43% for IVV.
Over three years, CAOS compounded at +3.41% per year against +21.47% for IVV. Across the full 3-year window we track, IVV has the edge at +7.03% annualized vs +4.79%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 2.0% 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 -3.6% for CAOS and -56.5% for IVV. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.34. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CAOS charges 0.63% per year while IVV charges 0.03%. On a $10,000 position that is $63 vs $3 annually, a gap of $60 per year that compounds over a long holding period. On income, CAOS currently yields 0.00% against 1.09% for IVV.
Frequently Asked Questions
Which is cheaper, CAOS or IVV?
CAOS has an expense ratio of 0.63% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $60 per year of difference.
Which performed better, CAOS or IVV?
Over the past year CAOS returned +1.36% vs +22.61% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (3 years), CAOS annualized +4.79% vs +7.03% for IVV. Past performance does not guarantee future results.
Which is riskier, CAOS or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 2.0% for CAOS. Worst drawdown: CAOS -3.6% vs IVV -56.5%.
Should I hold both CAOS and IVV?
CAOS and IVV have a monthly-return correlation of 0.34, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, CAOS or IVV?
CAOS yields 0.00% while IVV yields 1.09%, so IVV currently pays the higher dividend yield.
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