BNOV vs CAOS
Innovator US Equity Buffer ETF - November vs Alpha Architect Tail Risk ETF
Which is better, BNOV or CAOS?
BNOV has been ahead.
CAOS has a lower expense ratio. BNOV led over 1Y, 3Y 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 | BNOV | CAOS |
|---|---|---|
| Expense Ratio | 0.79% | 0.63%Best |
| AUM | $201M | $705M |
| Dividend Yield | 0.00% | 0.00% |
| Holdings | 18 | 12 |
| YTD Return | +11.13%Best | +1.68% |
| 1Y Return | +13.58%Best | +1.45% |
| 3Y Return (annualized) | +13.95%Best | +3.57% |
| 5Y Return (annualized) | +8.95% | - |
| Volatility (annualized) | 8.7% | 2.0%Best |
| Max Drawdown | -13.7% | -3.6%Best |
| $10,000 over 3.6 years | $15,816Best | $11,847 |
| Fund Family | Innovator ETFs Trust | Alpha Architect |
| Category | Alternative | Alternative |
| Style | Multi Alternative | Multi Alternative |
| Inception | Nov 1, 2019 | Aug 14, 2013 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 3.6 years row, are measured over the window both funds cover: Mar 6, 2023 to Oct 14, 2026 (3.6 years).
BNOV vs CAOS growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 3.6 years both funds cover.
BNOV vs CAOS Performance
Innovator US Equity Buffer ETF - November (BNOV) is an ETF from Innovator ETFs Trust and Alpha Architect Tail Risk ETF (CAOS) is an ETF from Alpha Architect. Over the past year BNOV returned +13.58% while CAOS returned +1.45%. Year to date, BNOV is up 11.13% versus a gain of 1.68% for CAOS.
Over three years, BNOV compounded at +13.95% per year against +3.57% for CAOS. Across the full 4-year window we track, BNOV has the edge at +13.58% annualized vs +4.82%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
BNOV has been the more volatile fund, with annualized monthly volatility of 8.7% 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 -13.7% for BNOV and -3.6% for CAOS. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.31. They move together some of the time, and apart the rest.
Fees and Cost Over Time
BNOV charges 0.79% per year while CAOS charges 0.63%. On a $10,000 position that is $79 vs $63 annually, a gap of $16 per year that compounds over a long holding period. On income, BNOV currently yields 0.00% against 0.00% for CAOS.
You are not choosing between two funds in isolation.
Whichever of BNOV and CAOS you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, BNOV or CAOS?
BNOV has an expense ratio of 0.79% while CAOS charges 0.63%. CAOS is the cheaper option, by $16 a year on a $10,000 investment.
Which performed better, BNOV or CAOS?
Over the past year BNOV returned +13.58% vs +1.45% for CAOS, so BNOV leads on 1-year performance. Over the longest common window we track (4 years), BNOV annualized +13.58% vs +4.82% for CAOS. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BNOV or CAOS?
BNOV has been the more volatile fund at 8.7% annualized versus 2.0% for CAOS. Worst drawdown: BNOV -13.7% vs CAOS -3.6%.
Should I hold both BNOV and CAOS?
BNOV and CAOS have a monthly-return correlation of 0.31, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, BNOV or CAOS?
BNOV yields 0.00% while CAOS yields 0.00%, so CAOS currently pays the higher dividend yield.
Is CAOS better than BNOV?
CAOS has a lower expense ratio. BNOV led over 1Y, 3Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.