{"url":"https://etfiq.com/compare/alternatives/caos-vs-toak","section":"compare","title":"CAOS vs TOAK: Correlation to the S&P 500 | ETFIQ","description":"CAOS and TOAK both run hedged equity strategies. Over the year to Oct 27, 2026, CAOS had a correlation of \u22120.22 with the S&P 500 and TOAK +0.17.","as_of":"Oct 27, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which moved less with the S&P 500, CAOS or TOAK?","acceptedAnswer":{"@type":"Answer","text":"Over the 52 weeks to Oct 27, 2026, CAOS\u2019s weekly returns had a correlation of \u22120.22 with the S&P 500 and TOAK\u2019s +0.17, so CAOS moved less with the index."}},{"@type":"Question","name":"Which did better when the S&P 500 fell, CAOS or TOAK?","acceptedAnswer":{"@type":"Answer","text":"In the 25 weeks the S&P 500 fell, by 1.10% a week on average, CAOS averaged +0.05% and TOAK \u22120.02%, so CAOS returned more in those weeks."}},{"@type":"Question","name":"Which earned more than cash, CAOS or TOAK?","acceptedAnswer":{"@type":"Answer","text":"Over the same weeks, CAOS finished 2.2 percentage points behind cash and TOAK finished 0.1 percentage points behind cash. Cash here is BIL, a fund of Treasury bills."}},{"@type":"Question","name":"Which is cheaper, CAOS or TOAK?","acceptedAnswer":{"@type":"Answer","text":"CAOS charges 0.63% a year and TOAK charges 0.26%, so TOAK is cheaper. Fees come from each fund's prospectus."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Alternatives ETFs","item":"https://etfiq.com/alternatives/"},{"@type":"ListItem","position":3,"name":"Compare ETFs","item":"https://etfiq.com/compare/"},{"@type":"ListItem","position":4,"name":"CAOS vs TOAK","item":"https://etfiq.com/compare/alternatives/caos-vs-toak"}]},{"@type":"WebPage","name":"CAOS vs TOAK: Correlation to the S&P 500","description":"CAOS and TOAK both run hedged equity strategies. Over the year to Oct 27, 2026, CAOS had a correlation of \u22120.22 with the S&P 500 and TOAK +0.17.","url":"https://etfiq.com/compare/alternatives/caos-vs-toak","dateModified":"2026-10-27","abstract":"Over the year to Oct 27, 2026, CAOS moved less with the S&P 500 than TOAK: correlation \u22120.22 against +0.17.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of CAOS and TOAK","description":"CAOS and TOAK both run hedged equity strategies. Over the year to Oct 27, 2026, CAOS had a correlation of \u22120.22 with the S&P 500 and TOAK +0.17.","dateModified":"2026-10-27","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/alternatives/caos-vs-toak","license":"https://etfiq.com/license/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/alternatives.json"}],"variableMeasured":["Correlation with the S&P 500","Beta to the S&P 500","Down-week capture","Average week when the S&P 500 fell","Return against T-bills","Total return","Strategy","Expense ratio"],"keywords":["exchange-traded funds","ETF","Alternatives ETFs","fund data","SEC filings"]}],"characters":6850,"truncated":true,"content":"ETFIQ / Alternatives ETFs / Compare ETFs / CAOS vs TOAK \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Oct 27, 2026 .\n\n CAOS vs TOAK: Correlation to the S&P 500\n\n Over the year to Oct 27, 2026, CAOS moved less with the S&P 500 than TOAK: correlation \u22120.22 against +0.17.\n Copy this for sharing \n \n TOAK costs 0.37 points a year less; their one-year returns differ by 2.1 points.\n CAOS and TOAK at a glance. As of Oct 27, 2026. Source: ETFIQ. CAOS TOAK \n Expense ratio 0.63% 0.26% \n Net assets, CAOS as of Oct 26, 2026 and TOAK as of May 31, 2026 $725m $90m \n Total return, 1 year +1.5% +3.6% ","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","license_text":"Data ETFIQ computes is free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, CAOS against TOAK, data as of Oct 27, 2026. https://etfiq.com/compare/alternatives/caos-vs-toak","a":{"ticker":"CAOS","name":"Alpha Architect Tail Risk ETF","issuer":"Alpha Architect","desk":"alternatives","as_of":"2026-10-27","verdict":"Over the year to Oct 27, 2026, CAOS returned 1.5%. When the S&P 500 fell, it rose 0.05% a week.","url":"https://etfiq.com/funds/caos","key_facts":[{"label":"Correlation with the S&P 500","value":"\u22120.22","as_of":"2026-10-27","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Beta to the S&P 500","value":"\u22120.02","as_of":"2026-10-27","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Down-week capture","value":"\u22124.3%","as_of":"2026-10-27","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Against T-bills, 52 weeks","value":"\u22122.2 pts","as_of":"2026-10-27","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Net assets","value":"$725m","as_of":"2026-10-26","source":"issuer page, as of Oct 26, 2026"},{"label":"Expense ratio","value":"0.63%","as_of":"2026-01-28","source":"485BPOS XBRL, Jan 28, 2026"}]},"b":{"ticker":"TOAK","name":"Manager Directed Portfolios Twin Oak Short Horizon Absolute Return ETF","issuer":"Manager Directed Portfolios","desk":"alternatives","as_of":"2026-10-27","verdict":"Over the year to Oct 27, 2026, TOAK returned 3.6%. When the S&P 500 fell, it fell 2% as much.","url":"https://etfiq.com/funds/toak","key_facts":[{"label":"Correlation with the S&P 500","value":"+0.17","as_of":"2026-10-27","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Beta to the S&P 500","value":"+0.04","as_of":"2026-10-27","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Down-week capture","value":"1.9%","as_of":"2026-10-27","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Against T-bills, 52 weeks","value":"\u22120.1 pts","as_of":"2026-10-27","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Net assets","value":"$90m","as_of":"2026-05-31","source":"SEC N-PORT, whole fund, as filed for May 31, 2026"},{"label":"Expense ratio","value":"0.26%","as_of":"2026-09-25","source":"485BPOS XBRL, Sep 25, 2026"}]},"overlap_pct":null,"overlap_note":"ETFIQ does not publish a holdings overlap for this pair. Either the funds are not compared on holdings, or one book is incomplete.","full_text_at":"https://etfiq.com/compare/alternatives/caos-vs-toak"}