- What are the top holdings of CAOS?
- A machine-readable holdings disclosure for Alpha Architect Tail Risk ETF (CAOS) is not available from our data sources — fund families sometimes register portfolio filings under a sibling share class or outside the SEC's structured datasets. Rather than estimate, we leave the section blank; the issuer's website carries the authoritative portfolio list.
- What sectors does CAOS invest in?
- Alpha Architect Tail Risk ETF (CAOS) allocates across the sectors shown above. The largest exposure tops the list; the rest follow in descending weight order.
- What sector is CAOS most exposed to?
- CAOS's full sector breakdown is on the Sectors tab. The largest sector weight is shown there along with the rest of the allocation.
- Is CAOS a US-only fund?
- The country allocation card on this page shows CAOS's geographic exposure. Funds with > 95% US weight are effectively US-only; international or global funds will show meaningful weights across multiple countries.
- What does CAOS invest in?
- 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 assets in long and/or short SPX Index options, depending on market status. Between 1-10% 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 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 BOXX ETF that uses box spreads to provide the exposure of 1-3 month T-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.
