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About Cambria Tail Risk ETF
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Inception date
Apr 6, 2017
Structure
Open-Ended Fund
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
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Government
Mutual fund
Bonds, Cash & Other100.00%
Government77.95%
Mutual fund13.48%
Rights & Warrants6.11%
Cash2.47%
Top 10 holdings
Dividends
Dividend payout history
Assets under management (AUM)
Fund Flows
Frequently Asked Questions
TAIL last dividends amounted to 0.03 USD. The quarter before, the issuer paid 0.11 USD in dividends, which shows a 208.54% decrease.
TAIL assets under management is 118.71 M USD. It's fallen 5.78% over the last month.
TAIL fund flows account for 41.66 M USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
Yes, TAIL pays dividends to its holders with the dividend yield of 2.65%. The last dividend (Mar 21, 2025) amounted to 0.03 USD. The dividends are paid quarterly.
TAIL shares are issued by Cambria Investment Management LP under the brand Cambria. The ETF was launched on Apr 6, 2017, and its management style is Active.
TAIL expense ratio is 0.59% meaning you'd have to pay 0.59% of your investment to help manage the fund.
TAIL follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
TAIL invests in bonds.
TAIL price has fallen by −7.22% over the last month, and its yearly performance shows a 4.26% increase. See more dynamics on TAIL price chart.
NAV returns, another gauge of an ETF dynamics, have risen by −7.18% over the last month, have fallen by −7.18% over the last month, showed a 10.73% increase in three-month performance and has increased by 5.91% in a year.
NAV returns, another gauge of an ETF dynamics, have risen by −7.18% over the last month, have fallen by −7.18% over the last month, showed a 10.73% increase in three-month performance and has increased by 5.91% in a year.
TAIL trades at a premium (0.02%) meaning the ETF is trading at a higher price than the calculated NAV.