# CAOS (Alpha Architect Tail Risk ETF)

Alpha Architect · Alternatives ETFs · data as of Sep 18, 2026

In the S&P 500’s down weeks over the year to Sep 18, 2026, CAOS rose 0.08% a week on average.

## Key facts

- CAOS, correlation with the S&P 500: −0.40, as of Sep 18, 2026.
- CAOS, beta to the S&P 500: −0.04, as of Sep 18, 2026.
- CAOS, down-week capture: −6.2%, as of Sep 18, 2026.
- CAOS, against T-bills, 52 weeks: −2.6 pts, as of Sep 18, 2026.
- CAOS, net assets: $705m (SEC N-PORT, whole fund, as filed for Jun 30, 2026).
- CAOS, expense ratio: 0.63% (485BPOS XBRL, Jan 28, 2026).

## CAOS over each window to Sep 18, 2026

| Window | The fund | S&P 500 | Difference, percentage points |
| --- | --- | --- | --- |
| 3 months | +0.1% | +2.3% | −2.1 pts |
| 6 months | −0.2% | +18.0% | −18.2 pts |
| 1 year | +1.1% | +16.6% | −15.5 pts |
| 3 years | +10.5% | +78.4% | −67.9 pts |
| Since it listed | +17.6% | +97.5% | −79.9 pts |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Issuer | Alpha Architect | ETFIQ |
| Strategy | Hedged equity | ETFIQ, from its prospectus |
| Expense ratio | 0.63% | 485BPOS XBRL, Jan 28, 2026 |
| Net assets | $705m | SEC N-PORT, whole fund, as filed for Jun 30, 2026 |
| Weeks measured | 52, from Sep 19, 2025 to Sep 18, 2026 | ETFIQ |
| Weeks the S&P 500 fell | 22 | ETFIQ |
| The S&P 500 in those weeks, on average | −1.24% | ETFIQ |
| CAOS in those weeks, on average | +0.08% | ETFIQ |
| CAOS total return over those weeks | +1.1% | ETFIQ |
| T-bills | +3.6% | ETFIQ |
| Listed since | Mar 6, 2023 | ETFIQ |
| Days traded | 90 | ETFIQ |
| Quoted | on an exchange, every trading day | ETFIQ |

## Questions

### Does CAOS move with the S&P 500?

Over the year to Sep 18, 2026, CAOS’s weekly returns had a correlation of −0.40 with the S&P 500’s, on a scale where 1 moves in step, 0 shows no pattern and −1 moves opposite. Its beta was −0.04, so for each 1% the index moved it moved about 0.04% the other way.

### What did CAOS do when stocks fell?

The S&P 500 fell in 22 of the 52 weeks to Sep 18, 2026, by 1.24% on average. In those weeks CAOS rose 0.08% on average, a down-week capture of −6.2%.

### Did CAOS earn more than cash?

Over the same 52 weeks CAOS returned +1.1% with distributions reinvested, and BIL, a fund of Treasury bills, returned +3.6%. CAOS finished 2.6 percentage points behind it.

### What does CAOS cost?

The prospectus expense ratio is 0.63% a year.

### Why is CAOS listed as hedged equity?

ETFIQ files each fund by what its own prospectus says it does, and CAOS’s, filed Jan 28, 2026, describes a hedged equity fund.


## Cite this page

ETFIQ, CAOS, data as of Sep 18, 2026. https://etfiq.com/funds/caos
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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