CAOS ETF — Alpha Architect Tail Risk ETF

Alpha Architect Tail Risk ETF (CAOS)

Updated October 16, 2026.

CAOS is an ETF. its expense ratio is 0.63%. Total return is 18.9% over the past 3.6 years, 78.9 points behind SPY at 97.8%.

Alpha Architect Tail Risk ETF is an actively managed ETF that invests in options contracts on large-cap equities to pursue a tail risk strategy. The fund does not currently distribute income to shareholders. With an expense ratio of 0.63%, the ETF may appeal to investors seeking downside protection or those with specific options-based strategies rather than traditional income investors.

CAOS performance versus SPY

Price and return data through 2026-10-16.

Total return is 18.9% over the past 3.6 years, 78.9 points behind SPY at 97.8%. Over the past year its total return — price change plus distributions reinvested — is 1.5%. Its deepest 1-year drawdown was 0.8%.

CAOS key facts

Issuer

ETF Architect

Asset type

ETF

Asset class

Equity

Inception date

08/14/2013

Expense ratio

0.63%

Distribution frequency

None

Last close

$91.51 (as of 2026-10-16)

AUM

$704,621,755

Average volume

27001.0

Beta

0.03

How Dividend Vision calculates yield and returns

Distribution rate (the posted rate) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: ETF Architect; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

CAOS risks and drawbacks

Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 0.8%.

Who may consider CAOS — and who may not

It is a weaker fit for investors who need monthly cash flow (CAOS does not currently distribute); investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on CAOS

• All tickers starting with C

Frequently asked questions

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