AGGS vs. CAAA

Last updated Jun 24, 2026

AGGS (Harbor Disciplined Bond ETF) and CAAA (First Trust Commercial Mortgage Opportunities ETF) are both Intermediate Core-Plus Bond funds. Both are actively managed. Over the past year, AGGS returned 4.93% vs 4.50% for CAAA. A 0.74 correlation means they provide meaningful diversification when combined. AGGS charges 0.35%/yr vs 0.55%/yr for CAAA.

Performance

AGGS vs. CAAA - Performance Comparison

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

Returns By Period

In the year-to-date period, AGGS achieves a 0.55% return, which is significantly lower than CAAA's 0.74% return.

AGGS

• 1D: 0.05%
• 1M: 0.83%
• YTD: 0.55%
• 6M: 0.75%
• 1Y: 4.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CAAA

• 1D: -0.22%
• 1M: 0.55%
• YTD: 0.74%
• 6M: 0.86%
• 1Y: 4.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AGGS vs. CAAA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AGGS Harbor Disciplined Bond ETF	0.55%	7.40%	4.56%
CAAA First Trust Commercial Mortgage Opportunities ETF	0.74%	8.03%	4.81%

Correlation

The correlation between AGGS and CAAA is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (All Time) Calculated using the full available price history since May 2, 2024	0.74

The correlation between AGGS and CAAA has been stable across timeframes, ranging from 0.68 to 0.74 - a consistent structural relationship.

Return for Risk

AGGS vs. CAAA — Risk / Return Rank

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

AGGS

AGGS Risk / Return Rank: 37
AGGS Sharpe Ratio Rank: 39
AGGS Sortino Ratio Rank: 39
AGGS Omega Ratio Rank: 37
AGGS Calmar Ratio Rank: 38
AGGS Martin Ratio Rank: 35

CAAA

CAAA Risk / Return Rank: 45
CAAA Sharpe Ratio Rank: 45
CAAA Sortino Ratio Rank: 47
CAAA Omega Ratio Rank: 44
CAAA Calmar Ratio Rank: 47
CAAA Martin Ratio Rank: 42

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.

AGGS vs. CAAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Disciplined Bond ETF (AGGS) 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.

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.

	AGGS	CAAA	Difference
Sharpe ratio: Return per unit of total volatility	1.27	1.47	-0.20
Sortino ratio: Return per unit of downside risk	1.87	2.20	-0.33
Omega ratio: Gain probability vs. loss probability	1.23	1.27	-0.04
Calmar ratio: Return relative to maximum drawdown	1.74	2.17	-0.43
Martin ratio: Return relative to average drawdown	4.92	6.45	-1.54

AGGS vs. CAAA - Sharpe Ratio Comparison

The current AGGS Sharpe Ratio is 1.27, which is comparable to the CAAA Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of AGGS and CAAA, 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

AGGS vs. CAAA - Drawdown Comparison

The maximum AGGS drawdown since its inception was -4.66%, which is greater than CAAA's maximum drawdown of -2.24%. Use the drawdown chart below to compare losses from any high point for AGGS and CAAA.

Drawdown Indicators

	AGGS	CAAA	Difference
Max Drawdown Largest peak-to-trough decline	-4.66%	-2.24%	-2.42%
Max Drawdown (1Y) Largest decline over 1 year	-2.84%	-2.08%	-0.76%
Current Drawdown Current decline from peak	-1.22%	-0.87%	-0.35%
Average Drawdown Average peak-to-trough decline	-1.18%	-0.56%	-0.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.00%	0.70%	+0.30%

Volatility

AGGS vs. CAAA - Volatility Comparison

The current volatility for Harbor Disciplined Bond ETF (AGGS) is 0.87%, while First Trust Commercial Mortgage Opportunities ETF (CAAA) has a volatility of 1.01%. This indicates that AGGS experiences smaller price fluctuations and is considered to be less risky than CAAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AGGS	CAAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.87%	1.01%	-0.14%
Volatility (6M) Calculated over the trailing 6-month period	2.72%	2.25%	+0.47%
Volatility (1Y) Calculated over the trailing 1-year period	3.91%	3.10%	+0.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.65%	3.21%	+1.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.65%	3.21%	+1.44%

AGGS vs. CAAA - Expense Ratio Comparison

AGGS has a 0.35% expense ratio, which is lower than CAAA's 0.55% expense ratio.

Dividends

AGGS vs. CAAA - Dividend Comparison

AGGS's dividend yield for the trailing twelve months is around 5.20%, less than CAAA's 5.29% yield.

Position	TTM	2025	2024
AGGS Harbor Disciplined Bond ETF	5.20%	5.43%	3.38%
CAAA First Trust Commercial Mortgage Opportunities ETF	5.29%	6.09%	4.01%

Frequently Asked Questions

Can I hold both AGGS and CAAA in my portfolio?

AGGS and CAAA have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AGGS or CAAA?

CAAA has higher volatility (1.01%) compared to AGGS (0.87%). In terms of maximum drawdown, AGGS dropped -4.66% vs CAAA's -2.24%.

Which ETF is better, AGGS or CAAA?

On 1-year performance, AGGS leads with 4.93% vs 4.50% for CAAA. On fees, AGGS is cheaper at 0.35% per year. On volatility, AGGS has been the lower-risk option at 0.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AGGS or CAAA?

Over the 1-year period, AGGS has performed better with a 4.93% return vs 4.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AGGS or CAAA?

AGGS is cheaper with a 0.35% expense ratio, compared with 0.55% for CAAA.

Which ETF pays a higher dividend yield, AGGS or CAAA?

CAAA has the higher dividend yield at 5.29%, compared with 5.20% for AGGS.

What is the main difference between AGGS and CAAA?

They also come from different issuers: Harbor and First Trust. Their fees differ too: 0.35% for AGGS and 0.55% for CAAA.

Which has better risk-adjusted returns?

CAAA currently has the higher Sharpe Ratio (1.47 vs 1.27), 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.