CAOS vs UMAY
Alpha Architect Tail Risk ETF vs Innovator U.S. Equity Ultra Buffer ETF - May
Which is better, CAOS or UMAY?
UMAY has been ahead.
CAOS has a lower expense ratio. UMAY 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 | CAOS | UMAY |
|---|---|---|
| Expense Ratio | 0.63%Best | 0.79% |
| AUM | $705M | $137M |
| Dividend Yield | 0.00% | 0.00% |
| Holdings | 12 | 24 |
| YTD Return | +1.68% | +6.64%Best |
| 1Y Return | +1.45% | +8.83%Best |
| 3Y Return (annualized) | +3.57% | +11.71%Best |
| 5Y Return (annualized) | - | +6.64% |
| Volatility (annualized) | 2.0%Best | 4.4% |
| Max Drawdown | -3.6%Best | -10.5% |
| $10,000 over 3.6 years | $11,847 | $14,626Best |
| Fund Family | Alpha Architect | Innovator ETFs Trust |
| Category | Alternative | Alternative |
| Style | Multi Alternative | Multi Alternative |
| Inception | Aug 14, 2013 | Apr 30, 2020 |
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).
CAOS vs UMAY 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.
CAOS vs UMAY Performance
Alpha Architect Tail Risk ETF (CAOS) is an ETF from Alpha Architect and Innovator U.S. Equity Ultra Buffer ETF - May (UMAY) is an ETF from Innovator ETFs Trust. Over the past year CAOS returned +1.45% while UMAY returned +8.83%. Year to date, CAOS is up 1.68% versus a gain of 6.64% for UMAY.
Over three years, CAOS compounded at +3.57% per year against +11.71% for UMAY. Across the full 4-year window we track, UMAY has the edge at +11.14% annualized vs +4.82%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
UMAY has been the more volatile fund, with annualized monthly volatility of 4.4% 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 -10.5% for UMAY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.38. They move together some of the time, and apart the rest.
Fees and Cost Over Time
CAOS charges 0.63% per year while UMAY charges 0.79%. On a $10,000 position that is $63 vs $79 annually, a gap of $16 per year that compounds over a long holding period. On income, CAOS currently yields 0.00% against 0.00% for UMAY.
Holdings Overlap
We hold position weights for 1 holding in CAOS and 1 in UMAY, totalling 0.1% and 101.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 1 positions we hold weights for in CAOS and 1 in UMAY, against full books of 12 and 24.
You are not choosing between two funds in isolation.
Whichever of CAOS and UMAY 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 UMAY?
CAOS has an expense ratio of 0.63% while UMAY charges 0.79%. CAOS is the cheaper option, by $16 a year on a $10,000 investment.
Which performed better, CAOS or UMAY?
Over the past year CAOS returned +1.45% vs +8.83% for UMAY, so UMAY leads on 1-year performance. Over the longest common window we track (4 years), CAOS annualized +4.82% vs +11.14% for UMAY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CAOS or UMAY?
UMAY has been the more volatile fund at 4.4% annualized versus 2.0% for CAOS. Worst drawdown: CAOS -3.6% vs UMAY -10.5%.
Should I hold both CAOS and UMAY?
CAOS and UMAY have a monthly-return correlation of 0.38, 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 UMAY?
CAOS yields 0.00% while UMAY yields 0.00%, so UMAY currently pays the higher dividend yield.
Is UMAY better than CAOS?
CAOS has a lower expense ratio. UMAY 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.