CAOS vs GIAX
Alpha Architect Tail Risk ETF vs Nicholas Global Equity and Income ETF
Which is better, CAOS or GIAX?
GIAX has been ahead.
CAOS has a lower expense ratio. GIAX 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 | GIAX |
|---|---|---|
| Expense Ratio | 0.63%Best | 1.03% |
| AUM | $705M | $115M |
| Dividend Yield | 0.00% | 24.34% |
| Holdings | 12 | 87 |
| YTD Return | +1.68% | +12.20%Best |
| 1Y Return | +1.45% | +12.86%Best |
| 3Y Return (annualized) | +3.57% | - |
| Volatility (annualized) | 1.1%Best | 20.7% |
| Max Drawdown | -3.6%Best | -20.4% |
| $10,000 over 2.2 years | $10,695 | $13,082Best |
| Fund Family | Alpha Architect | XFunds |
| Category | Alternative | Alternative |
| Style | Multi Alternative | Multi Alternative |
| Inception | Aug 14, 2013 | Jul 29, 2024 |
Not shown on this pair: 5Y Return (annualized), Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 2.2 years row, are measured over the window both funds cover: Jul 30, 2024 to Oct 14, 2026 (2.2 years).
CAOS vs GIAX 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 2.2 years both funds cover.
CAOS vs GIAX Performance
Alpha Architect Tail Risk ETF (CAOS) is an ETF from Alpha Architect and Nicholas Global Equity and Income ETF (GIAX) is an ETF from XFunds. Over the past year CAOS returned +1.45% while GIAX returned +12.86%. Year to date, CAOS is up 1.68% versus a gain of 12.20% for GIAX.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GIAX has been the more volatile fund, with annualized monthly volatility of 20.7% compared with 1.1% 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 -3.6% for CAOS and -20.4% for GIAX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at -0.26. They move largely independently of each other.
Fees and Cost Over Time
CAOS charges 0.63% per year while GIAX charges 1.03%. On a $10,000 position that is $63 vs $103 annually, a gap of $40 per year that compounds over a long holding period. On income, CAOS currently yields 0.00% against 24.34% for GIAX.
Holdings Overlap
At least 0.1% of GIAX'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.
We cannot see either book well enough to say how much of this pair is duplicated.
1 positions in common, counted across the 1 positions we hold weights for in CAOS and 27 in GIAX, against full books of 12 and 87.
Top Shared Holdings
| Stock | Weight in CAOS | Weight in GIAX | Difference |
|---|---|---|---|
| FGXXXFirst American Government Obligations Fund | 0.10% | 0.08% | 0.02% |
You are not choosing between two funds in isolation.
Whichever of CAOS and GIAX 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, CAOS or GIAX?
CAOS has an expense ratio of 0.63% while GIAX charges 1.03%. CAOS is the cheaper option, by $40 a year on a $10,000 investment.
Which performed better, CAOS or GIAX?
Over the past year CAOS returned +1.45% vs +12.86% for GIAX, so GIAX leads on 1-year performance. Over the longest common window we track (2 years), CAOS annualized +3.10% vs +12.99% for GIAX. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CAOS or GIAX?
GIAX has been the more volatile fund at 20.7% annualized versus 1.1% for CAOS. Worst drawdown: CAOS -3.6% vs GIAX -20.4%.
Should I hold both CAOS and GIAX?
CAOS and GIAX have a monthly-return correlation of -0.26, 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, CAOS or GIAX?
CAOS yields 0.00% while GIAX yields 24.34%, so GIAX currently pays the higher dividend yield.
Is GIAX better than CAOS?
CAOS has a lower expense ratio. GIAX 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.