TAIL
·CBOE
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Key Stats
Assets Under Management
145.95MUSD
Fund Flows (1Y)
81.84MUSD
Dividend Yield
3.79%
Discount/Premium to NAV
-0.04%
Shares Outstanding
12.60M
Expense Ratio
0.59%
About Cambria Tail Risk ETF
Issuer
Cambria
Brand
Cambria
Home Page
Inception Date
Apr 6, 2017
Structure
Open-Ended Fund
Index Tracked
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Management Style
Active
Dividend Treatment
Distributes
Distribution Tax Treatment
Ordinary income
Income Tax Type
Capital Gains
Max ST Capital Gains Rate
39.60%
Max LT Capital Gains Rate
20.00%
Primary Advisor
Cambria Investment Management LP
Distributor
ALPS Distributors, Inc.
TAIL holds a portfolio of primarily cash and US government bonds, but the primary strategy of the fund involves investing one percent of its holdings every month in out-of-the-money put options on the S&P 500 Index. The strategy involves buying more puts when volatility is low and fewer puts when volatility is high. The main purpose behind holding these options is hedging a portfolio against significant negative movement in the value of US equities, commonly referred to as tail risk. Cambria intends to target options that are 0 to 30% out of the money. Buying puts further out of the money reduces the price tag of this hedge, but also lessens the amount of downside protection provided.
Classification
Asset Class
Asset Allocation
Category
Asset Allocation
Focus
Target Outcome
Niche
Income & Capital Appreciation
Strategy
Active
Geography
U.S.
Weighting Scheme
Proprietary
Selection Criteria
Proprietary
Returns
1-Month | 3-Month | YTD | 1-Year | 3-Year | 5-Year | |
|---|---|---|---|---|---|---|
Price Performance | -4.16% | -2.87% | +2.97% | +1.59% | -27.41% | -44.24% |
NAV Total Return | -1.13% | -1.92% | +6.83% | +4.84% | -17.14% | -37.22% |
Ratings
No data is currently available
Ainvest’s AI-powered ETF Scoring Algorithm, built to help retail investors make smarter, data-driven decisions. Leveraging deep learning, reinforcement learning, and large language models, the algorithm scores ETFs across five key dimensions: Fund Flow, Momentum, Safety, Fundamentals, and Performance. Each factor is weighted by its correlation to future returns, resulting in a single, actionable score. Backtested over five years with consistently strong predictive accuracy. Ainvest brings institutional-grade artificial intelligence to everyday investors—transforming complexity into clarity with every score.
Holdings Analysis
Sector
Technology
35.29%
Financial Services
12.79%
Communication Services
10.98%
Consumer Cyclical
10.40%
Healthcare
9.77%
Industrials
7.34%
Consumer Defensive
4.85%
Energy
2.84%
Utilities
2.37%
Technology
35.29%
Financial Services
12.79%
Communication Services
10.98%
Consumer Cyclical
10.40%
Healthcare
9.77%
Industrials
7.34%
Consumer Defensive
4.85%
Energy
2.84%
Utilities
2.37%
Show more
Asset
Region
99.61%
0.39%
Category
Ratio
North America
99.61%
Europe
0.39%
Investment Style
No data is currently available
Top 10 Holdings
Symbol
Ratio
United States Treasury Note/Bond 4.25% 05/15/2035
88.47%
First American Treasury Obligations Fund 01/01/2040
5.47%
SPX US 12/18/26 P6200
1.74%
Cash & Other
1.29%
SPX US 09/18/26 P6000
1.07%
SPX US 12/18/26 P6100
0.63%
SPX US 09/18/26 P5800
0.33%
SPX US 09/18/26 P5600
0.27%
SPX US 06/18/26 P5500
0.25%
SPX US 06/18/26 P5000
0.17%
Top 10 Weight 99.69%
13 Total Holdings
Dividends
Dividend Payout History
Declaration Date | Record Date | Payment Date | Amount |
|---|---|---|---|
| 2025-12-18 | 2025-12-18 | 2025-12-19 | 0.139 |
| 2025-09-18 | 2025-09-18 | 2025-09-19 | 0.048 |
| 2025-06-18 | 2025-06-18 | 2025-06-20 | 0.110 |
| 2025-03-20 | 2025-03-20 | 2025-03-21 | 0.034 |
| 2024-12-20 | 2024-12-20 | 2024-12-30 | 0.105 |
| 2024-06-21 | 2024-06-21 | 2024-07-01 | 0.183 |
| 2024-03-21 | 2024-03-22 | 2024-04-01 | 0.101 |
Show more
Premium/Discount Chart
Premium/Discount to NAV
Price
1M
Assets Under Management
Assets Under Management
1M
Fund Flows
Inflows
Outflows
1M
