TAIL vs VTI
Cambria Tail Risk ETF vs Vanguard Morningstar Total Stock Market ETF
Quick Verdict
VTI has a lower expense ratio. VTI delivered stronger 1-year returns. VTI offers more diversification with 3,543 holdings.
Side-by-Side Comparison
| Metric | TAIL | VTI | Winner |
|---|---|---|---|
| Expense Ratio | 0.59% | 0.03% | |
| AUM | $145M | $666.9B | |
| Dividend Yield | 2.99% | 1.07% | |
| Holdings | 11 | 3,543 | |
| YTD Return | -10.76% | +13.12% | |
| 1Y Return | -12.43% | +21.07% | |
| 3Y Return (annualized) | -5.51% | +20.54% | |
| 5Y Return (annualized) | -9.35% | +11.71% | |
| Volatility (annualized) | 11.1% | 15.3% | |
| Max Drawdown | -54.0% | -56.6% | |
| Fund Family | Cambria Investment Management | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Apr 5, 2017 | May 24, 2001 |
TAIL vs VTI Performance
Cambria Tail Risk ETF (TAIL) is a ETF from Cambria Investment Management and Vanguard Morningstar Total Stock Market ETF (VTI) is a ETF from Vanguard (US). Over the past year TAIL returned -12.43% while VTI returned +21.07%. Year to date, TAIL is down 10.76% versus a gain of 13.12% for VTI.
Over three years, TAIL compounded at -5.51% per year against +20.54% for VTI; over five years the annualized figures are -9.35% and +11.71% respectively. Across the full 9-year window we track, VTI has the edge at +8.08% annualized vs -7.52%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VTI has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 11.1% for TAIL. 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 -54.0% for TAIL and -56.6% for VTI. 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 -0.70. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
TAIL charges 0.59% per year while VTI charges 0.03%. On a $10,000 position that is $59 vs $3 annually, a gap of $56 per year that compounds over a long holding period. On income, TAIL currently yields 2.99% against 1.07% for VTI.
Holdings Overlap
TAIL and VTI share 0 holdings out of 2789 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, TAIL or VTI?
TAIL has an expense ratio of 0.59% while VTI charges 0.03%. VTI is the cheaper option. On a $10,000 investment, that is $56 per year of difference.
Which performed better, TAIL or VTI?
Over the past year TAIL returned -12.43% vs +21.07% for VTI, so VTI leads on 1-year performance. Over the longest common window we track (9 years), TAIL annualized -7.52% vs +8.08% for VTI. Past performance does not guarantee future results.
Which is riskier, TAIL or VTI?
VTI has been the more volatile fund at 15.3% annualized versus 11.1% for TAIL. Worst drawdown: TAIL -54.0% vs VTI -56.6%.
Should I hold both TAIL and VTI?
TAIL and VTI have a monthly-return correlation of -0.70, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between TAIL and VTI?
TAIL and VTI share 0 common holdings with a 0.0% weight overlap. Combined, they hold 2789 unique securities.
Which pays a higher dividend, TAIL or VTI?
TAIL yields 2.99% while VTI yields 1.07%, so TAIL currently pays the higher dividend yield.
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