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CAOS vs RFIX

Alpha Architect Tail Risk ETF

CAOSBCboe

Simplify Bond Bull ETF

RFIXBNYSE Arca

Overlap

Expense ratio

RFIX −0.13pt a year

CAOS0.63%RFIX0.50%

Avg volume · 30D

RFIX 9.2×the volume

CAOS44.6KRFIX413K

CAOS vs RFIX Performance

Oct 31, 2025 – Oct 30, 2026

+1.7%CAOS−8.1%RFIX

Oct 31, 2025 to Oct 30, 2026. CAOS +1.7%. RFIX −8.1%. Use the arrow keys to read each point.−15%−5%5%Oct 2025Apr 2026Oct 2026
Expense ratio
CAOS 0.63%
RFIX 0.50%, better
Fund size
CAOS $728M
RFIX $41M
1Y total return
CAOS +1.7%, better
RFIX −8.1%
Yield (12M)
CAOS No data
RFIX 4.69%
Holdings
CAOS 10
RFIX 6
Avg volume (30D)
CAOS 44.6K sh
RFIX 413K sh, better
NAV per share
CAOS $91.41
RFIX $36.89
52W range

ETF.net Grade

CAOS: Cost 54, Risk 75, Mission not scored, Tradability 73, Holdings not scored, Durability 92. RFIX: Cost 90, Risk 37, Mission not scored, Tradability 50, Holdings 33, Durability 33.
Pillar letters and Scores for CAOS, RFIX, with each pillar’s weight
PillarCAOSRFIX
Cost30% weightC54A90Higher
Mission25% weightNot scoredNot scored
Risk15% weightA75HigherD37
Tradability15% weightA73HigherC50
Holdings10% weightNot scoredD33
Durability5% weightA92HigherD33

Rank among Portfolio Hedging funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. CAOS and RFIX are both graded against the same 10 Portfolio Hedging funds, so their Grades compare head to head.

Portfolio Hedging⁠

Category · 10 funds
See all 10 ›

CAOS ranks 2nd and RFIX 4th of 10 funds in the Portfolio Hedging Category.

  1. Rank 1BSPDSimplify US Equity PLUS Downside Convexity ETFScore 67
  2. Rank 2BCAOSAlpha Architect Tail Risk ETFScore 66
  3. Rank 3BPFIXSimplify Interest Rate Hedge ETFScore 65
  4. Rank 4BRFIXSimplify Bond Bull ETFScore 63
  5. Rank 5BATTRArin Tactical Tail Risk ETFScore 59

Our read on each fund

ETF.net Research

CAOSBAlpha Architect Tail Risk ETF

RFIXBSimplify Bond Bull ETF

In short

CAOS Most S&P 500 options funds sell calls to collect premium. CAOS runs the other way: it buys protective puts and put spreads on the index and parks collateral in box spreads. The hedge-first take in a room full of premium sellers, active since 2013.

RFIX No data

Stated mandate

CAOS The Fund seeks maximum total return through capital appreciation and current income. Its strategy combines S&P 500-linked options, protective puts and put spreads, with collateral investments that may include box spreads.

RFIX No data

Why people hold it

  • CAOS The contrarian in its cohort: it buys downside protection (protective puts and put spreads) on the S&P 500 rather than selling calls for income.alphaarchitect.com
  • Collateral can sit in box spreads, an options structure used to earn a cash-like return, so the money backing the hedge isn't dead weight.alphaarchitect.com
  • Running since 2013 as an actively managed 1940 Act ETF, and it sits in the upper half of its S&P 500 options peer group.

RFIX No data

Worth knowing

  • CAOS The 0.63% fee runs a touch above the middle of this peer group; IVVW and PBP charge less for their own S&P 500 options strategies.
  • Protection has a price. Buying puts is an ongoing cost in calm, grinding-higher markets, which is the flip side of owning a hedge.alphaarchitect.com
  • Actively managed, so results follow the manager's option choices rather than a published index formula you can look up in advance.alphaarchitect.com

RFIX No data

Full CAOS profile⁠

Full RFIX profile⁠

CAOS vs RFIX Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

CAOS vs RFIX Cost

Overpaying CAOS vs RFIX

$2,380

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • CAOS 0.63%

    $12,359

  • RFIX 0.50%

    $9,979

$10,000
30 years

Cost over time

  • CAOS 0.63%
  • RFIX 0.50%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530CAOS $12,359RFIX $9,979

Year by year

YearCAOSRFIXOverpaying
10$1,128$900$228
20$4,311$3,460$851
30$12,359$9,979$2,380

Expense ratio

  • 0.63%CAOS
  • 0.50%RFIX, cheaper
  • Middle half of Portfolio Hedging funds
  • Median 0.63%

RFIX cheapest of 10 funds

CAOS 5th cheapest of 10 funds

CAOS vs RFIX Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
CAOS No data
RFIX 4.69%
Payout (12M)
CAOS None
RFIX $1.73
Last payment
CAOS No data
RFIX $0.20
Ex-dividend
CAOS No data
RFIX Oct 27, 2026
Paid on
CAOS No data
RFIX Oct 30, 2026
Frequency
CAOS No data
RFIX Monthly

Distribution history

Per share, 2025 to 2026, same scale for both

CAOSAll CAOS payments⁠

No distribution history available.

RFIXMonthly · 21 paymentsAll RFIX payments⁠
One bar per payment. 21 payments from 2025 to 2026 YTD. Feb 25, 2025 $0.10; Mar 26, 2025 $0.15; Apr 25, 2025 $0.15; May 27, 2025 $0.15; Jun 25, 2025 $0.16; Jul 28, 2025 $0.20; Aug 26, 2025 $0.20; Sep 25, 2025 $0.10; Oct 28, 2025 $0.10; Nov 21, 2025 $0.10; Dec 23, 2025 $0.43; Jan 27, 2026 $0.10; Feb 24, 2026 $0.10; Mar 26, 2026 $0.10; Apr 27, 2026 $0.10; May 26, 2026 $0.10; Jun 25, 2026 $0.10; Jul 28, 2026 $0.10; Aug 26, 2026 $0.15; Sep 25, 2026 $0.15; Oct 27, 2026 $0.20. Use the arrow keys to read each point.$0$0.502026YTD

CAOS vs RFIX Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
CAOS 1.6%RFIX 21.0%since Jan 2025
Return per unit of riskSharpe ratio, 3 years
CAOS −0.43RFIX −0.83since Jan 2025
Worst fallMax drawdown, 5 years
CAOS −3.6%since Mar 2023RFIX −38.9%since Dec 2024
Market sensitivityBeta, 5 years
CAOS 0.04RFIX −0.20

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