CAOS vs. DALI ETF Comparison
Comparison of Alpha Architect Tail Risk ETF (CAOS) to First Trust DorseyWright DALI 1 ETF (DALI)
CAOS
Alpha Architect Tail Risk ETF
CAOS Description
CAOS seeks to actively earn positive returns during periods of significant US equity drawdowns while minimizing the return drag of collateral. The fund allocates up to 20% of portfolio assets in long and/or short SPX Index options, depending on market status. Between 1%-10% of the portfolio is allocated to protective options positioned to appreciate in value when the index declines by more than 25%, which is considered to be a tail risk event. If a tail risk event does not occur, the cost of the protective positions will reduce returns. The remaining 70%-80% of the funds portfolio is collateral consisting of US T-bills, box spreads, and money market instruments. Up to 100% of the collateral may be placed with the Alpha Architect 1-3 Month Box ETF (ticker: BOXX). An ETF that uses box spreads to provide the exposure of 1-3 month treasury bills. The strategy involves frequent trading which increases costs and turnover rate, both having negative impacts on the fund. CAOS operated as a mutual fund until its conversion into an ETF, starting with $126 million in net assets.
Grade (RS Rating)
Last Trade
$84.89
Average Daily Volume
4,975
1
DALI
First Trust DorseyWright DALI 1 ETF
DALI Description
The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an index called the Nasdaq Dorsey Wright DALI 1 Index. Under normal conditions, the fund will invest at least 90% of its net assets (including investment borrowings) in the equity securities that comprise the index. The index has been designed based upon the principle that the asset class exhibiting the highest levels of "relative strength," based on current prices, will be the asset class with the best performance over the near term. It is non-diversified.Grade (RS Rating)
Last Trade
$23.97
Average Daily Volume
17,277
4
Performance
| Period | CAOS | DALI |
|---|---|---|
| 30 Days | 0.56% | 0.04% |
| 60 Days | 1.76% | 4.08% |
| 90 Days | 0.78% | -0.33% |
| 12 Months | 5.52% | -4.73% |
0 Overlapping Holdings
| Symbol | Grade | Weight in CAOS | Weight in DALI | Overlap |
|---|
CAOS Overweight 1 Positions Relative to DALI
| Symbol | Grade | Weight | |
|---|---|---|---|
| BOXX | A | 64.72% |
CAOS: Top Represented Industries & Keywords
DALI: Top Represented Industries & Keywords
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