AAAA vs. MDIV

Last updated Jul 17, 2026

AAAA (Amplius Aggressive Asset Allocation ETF) and MDIV (First Trust Multi-Asset Diversified Income Index Fund) are both Diversified Portfolio funds. AAAA is actively managed, while MDIV is passively managed. Over the past year, AAAA returned 21.98% vs 13.71% for MDIV. At a 0.29 correlation, their price movements are largely independent. AAAA charges 0.49%/yr vs 0.73%/yr for MDIV.

Performance

AAAA vs. MDIV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplius Aggressive Asset Allocation ETF (AAAA) and First Trust Multi-Asset Diversified Income Index Fund (MDIV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AAAA achieves a 10.99% return, which is significantly lower than MDIV's 11.80% return.

AAAA

• 1D: -0.68%
• 1M: -0.71%
• 6M: 9.20%
• YTD: 10.99%
• 1Y: 21.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MDIV

• 1D: 1.01%
• 1M: 3.14%
• 6M: 9.06%
• YTD: 11.80%
• 1Y: 13.71%
• 3Y*: 11.66%
• 5Y*: 6.77%
• 10Y*: 4.84%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AAAA vs. MDIV - Yearly Performance Comparison

	2026 (YTD)	2025
AAAA Amplius Aggressive Asset Allocation ETF	10.99%	10.11%
MDIV First Trust Multi-Asset Diversified Income Index Fund	11.80%	1.98%

Correlation

The correlation between AAAA and MDIV is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (All Time) Calculated using the full available price history since Jul 16, 2025	0.29

Return for Risk

AAAA vs. MDIV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AAAA

AAAA Risk / Return Rank: 74
AAAA Sharpe Ratio Rank: 74
AAAA Sortino Ratio Rank: 73
AAAA Omega Ratio Rank: 73
AAAA Calmar Ratio Rank: 70
AAAA Martin Ratio Rank: 81

MDIV

MDIV Risk / Return Rank: 82
MDIV Sharpe Ratio Rank: 82
MDIV Sortino Ratio Rank: 85
MDIV Omega Ratio Rank: 79
MDIV Calmar Ratio Rank: 88
MDIV Martin Ratio Rank: 77

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AAAA vs. MDIV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplius Aggressive Asset Allocation ETF (AAAA) and First Trust Multi-Asset Diversified Income Index Fund (MDIV). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AAAA	MDIV	Difference
Sharpe ratio: Return per unit of total volatility	1.88	2.08	-0.20
Sortino ratio: Return per unit of downside risk	2.64	3.08	-0.44
Omega ratio: Gain probability vs. loss probability	1.34	1.37	-0.03
Calmar ratio: Return relative to maximum drawdown	2.82	4.06	-1.24
Martin ratio: Return relative to average drawdown	12.21	11.26	+0.94

AAAA vs. MDIV - Sharpe Ratio Comparison

The current AAAA Sharpe Ratio is 1.88, which is comparable to the MDIV Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of AAAA and MDIV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AAAA vs. MDIV - Drawdown Comparison

The maximum AAAA drawdown since its inception was -7.83%, smaller than the maximum MDIV drawdown of -48.50%. Use the drawdown chart below to compare losses from any high point for AAAA and MDIV.

Drawdown Indicators

	AAAA	MDIV	Difference
Max Drawdown Largest peak-to-trough decline	-7.83%	-48.50%	+40.67%
Max Drawdown (1Y) Largest decline over 1 year	-7.83%	-3.39%	-4.44%
Max Drawdown (3Y) Largest decline over 3 years	—	-9.62%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-13.02%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-48.50%	—
Current Drawdown Current decline from peak	-1.79%	0.00%	-1.79%
Average Drawdown Average peak-to-trough decline	-1.08%	-4.55%	+3.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.80%	1.22%	+0.58%

Volatility

AAAA vs. MDIV - Volatility Comparison

Amplius Aggressive Asset Allocation ETF (AAAA) has a higher volatility of 3.42% compared to First Trust Multi-Asset Diversified Income Index Fund (MDIV) at 1.93%. This indicates that AAAA's price experiences larger fluctuations and is considered to be riskier than MDIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AAAA	MDIV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.42%	1.93%	+1.49%
Volatility (6M) Calculated over the trailing 6-month period	9.75%	4.54%	+5.21%
Volatility (1Y) Calculated over the trailing 1-year period	11.73%	6.61%	+5.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.73%	10.92%	+0.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.73%	15.20%	-3.47%

AAAA vs. MDIV - Expense Ratio Comparison

AAAA has a 0.49% expense ratio, which is lower than MDIV's 0.73% expense ratio.

Dividends

AAAA vs. MDIV - Dividend Comparison

AAAA's dividend yield for the trailing twelve months is around 1.29%, less than MDIV's 6.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAAA Amplius Aggressive Asset Allocation ETF	1.29%	0.79%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MDIV First Trust Multi-Asset Diversified Income Index Fund	6.59%	6.51%	6.40%	6.08%	6.71%	5.30%	6.00%	5.90%	6.76%	6.04%	6.35%	7.38%

Frequently Asked Questions

Can I hold both AAAA and MDIV in my portfolio?

AAAA and MDIV have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AAAA or MDIV?

AAAA has higher volatility (3.42%) compared to MDIV (1.93%). In terms of maximum drawdown, AAAA dropped -7.83% vs MDIV's -48.50%.

Which ETF is better, AAAA or MDIV?

On 1-year performance, AAAA leads with 21.98% vs 13.71% for MDIV. On fees, AAAA is cheaper at 0.49% per year. On volatility, MDIV has been the lower-risk option at 1.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AAAA or MDIV?

Over the 1-year period, AAAA has performed better with a 21.98% return vs 13.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AAAA or MDIV?

AAAA is cheaper with a 0.49% expense ratio, compared with 0.73% for MDIV.

Which ETF pays a higher dividend yield, AAAA or MDIV?

MDIV has the higher dividend yield at 6.59%, compared with 1.29% for AAAA.

What is the main difference between AAAA and MDIV?

They also come from different issuers: Amplius and First Trust. Their fees differ too: 0.49% for AAAA and 0.73% for MDIV.

Which has better risk-adjusted returns?

MDIV currently has the higher Sharpe Ratio (2.08 vs 1.88), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.