ADFI vs. CAAA

Last updated Apr 1, 2026

Compare and contrast key facts about Anfield Dynamic Fixed Income ETF (ADFI) and First Trust Commercial Mortgage Opportunities ETF (CAAA).

ADFI and CAAA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ADFI is an actively managed fund by Anfield. It was launched on Aug 17, 2020. CAAA is an actively managed fund by First Trust. It was launched on Feb 26, 2024.

Performance

ADFI vs. CAAA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Anfield Dynamic Fixed Income ETF (ADFI) and First Trust Commercial Mortgage Opportunities ETF (CAAA). The values are adjusted to include any dividend payments, if applicable.

ADFI vs. CAAA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ADFI Anfield Dynamic Fixed Income ETF	-0.48%	5.61%	1.73%
CAAA First Trust Commercial Mortgage Opportunities ETF	0.17%	8.03%	4.65%

Returns By Period

In the year-to-date period, ADFI achieves a -0.48% return, which is significantly lower than CAAA's 0.17% return.

ADFI

• 1D: 0.41%
• 1M: -1.61%
• YTD: -0.48%
• 6M: 0.37%
• 1Y: 3.10%
• 3Y*: 3.03%
• 5Y*: -0.16%
• 10Y*: —

CAAA

• 1D: 0.22%
• 1M: -1.28%
• YTD: 0.17%
• 6M: 1.67%
• 1Y: 5.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ADFI vs. CAAA - Expense Ratio Comparison

ADFI has a 1.75% expense ratio, which is higher than CAAA's 0.55% expense ratio.

ADFI

Anfield Dynamic Fixed Income ETF

CAAA

First Trust Commercial Mortgage Opportunities ETF

Return for Risk

ADFI vs. CAAA — Risk / Return Rank

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

ADFI

ADFI Risk / Return Rank: 33
ADFI Sharpe Ratio Rank: 29
ADFI Sortino Ratio Rank: 27
ADFI Omega Ratio Rank: 25
ADFI Calmar Ratio Rank: 45
ADFI Martin Ratio Rank: 39

CAAA

CAAA Risk / Return Rank: 85
CAAA Sharpe Ratio Rank: 84
CAAA Sortino Ratio Rank: 88
CAAA Omega Ratio Rank: 80
CAAA Calmar Ratio Rank: 87
CAAA Martin Ratio Rank: 84

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.

ADFI vs. CAAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Anfield Dynamic Fixed Income ETF (ADFI) and First Trust Commercial Mortgage Opportunities ETF (CAAA). 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.

	ADFI	CAAA	Difference
Sharpe ratio Return per unit of total volatility	0.56	1.68	-1.12
Sortino ratio Return per unit of downside risk	0.81	2.43	-1.62
Omega ratio Gain probability vs. loss probability	1.10	1.31	-0.21
Calmar ratio Return relative to maximum drawdown	1.17	2.75	-1.58
Martin ratio Return relative to average drawdown	3.70	9.74	-6.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ADFI vs. CAAA - Sharpe Ratio Comparison

The current ADFI Sharpe Ratio is 0.56, which is lower than the CAAA Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of ADFI and CAAA, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ADFI	CAAA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.56	1.68	-1.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.03	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.11	1.91	-2.03

Correlation

The correlation between ADFI and CAAA is 0.50, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ADFI vs. CAAA - Dividend Comparison

ADFI's dividend yield for the trailing twelve months is around 3.25%, less than CAAA's 5.68% yield.

	TTM	2025	2024	2023	2022	2021	2020
ADFI Anfield Dynamic Fixed Income ETF	3.25%	3.30%	3.17%	2.90%	1.60%	0.80%	0.50%
CAAA First Trust Commercial Mortgage Opportunities ETF	5.68%	6.09%	4.01%	0.00%	0.00%	0.00%	0.00%

Drawdowns

ADFI vs. CAAA - Drawdown Comparison

The maximum ADFI drawdown since its inception was -17.62%, which is greater than CAAA's maximum drawdown of -2.24%. Use the drawdown chart below to compare losses from any high point for ADFI and CAAA.

Drawdown Indicators

	ADFI	CAAA	Difference
Max Drawdown Largest peak-to-trough decline	-17.62%	-2.24%	-15.38%
Max Drawdown (1Y) Largest decline over 1 year	-2.69%	-2.08%	-0.61%
Max Drawdown (5Y) Largest decline over 5 years	-16.11%	—	—
Current Drawdown Current decline from peak	-4.09%	-1.42%	-2.67%
Average Drawdown Average peak-to-trough decline	-7.73%	-0.52%	-7.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.85%	0.59%	+0.26%

Volatility

ADFI vs. CAAA - Volatility Comparison

Anfield Dynamic Fixed Income ETF (ADFI) has a higher volatility of 1.58% compared to First Trust Commercial Mortgage Opportunities ETF (CAAA) at 1.20%. This indicates that ADFI's price experiences larger fluctuations and is considered to be riskier than CAAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ADFI	CAAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.58%	1.20%	+0.38%
Volatility (6M) Calculated over the trailing 6-month period	2.96%	2.20%	+0.76%
Volatility (1Y) Calculated over the trailing 1-year period	5.60%	3.34%	+2.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.18%	3.23%	+2.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.94%	3.23%	+2.71%