BCPL vs. CAAA
BCPL (BNY Mellon Core Plus ETF) and CAAA (First Trust Commercial Mortgage Opportunities ETF) are both Intermediate Core-Plus Bond funds. Both are actively managed. A 0.71 correlation means they provide meaningful diversification when combined. BCPL charges 0.40%/yr vs 0.55%/yr for CAAA.
Performance
BCPL vs. CAAA - Performance Comparison
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Returns By Period
BCPL
- 1D
- -0.08%
- 1M
- 0.38%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CAAA
- 1D
- -0.34%
- 1M
- -0.12%
- YTD
- 0.56%
- 6M
- 0.55%
- 1Y
- 5.28%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BCPL vs. CAAA - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
BCPL BNY Mellon Core Plus ETF | 0.55% |
CAAA First Trust Commercial Mortgage Opportunities ETF | 0.03% |
Correlation
The correlation between BCPL and CAAA is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jan 13, 2026 | 0.71 |
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Return for Risk
BCPL vs. CAAA — Risk / Return Rank
BCPL
CAAA
BCPL vs. CAAA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Core Plus ETF (BCPL) 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| BCPL | CAAA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 1.73 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 1.83 | -1.48 |
Drawdowns
BCPL vs. CAAA - Drawdown Comparison
The maximum BCPL drawdown since its inception was -2.95%, which is greater than CAAA's maximum drawdown of -2.24%. Use the drawdown chart below to compare losses from any high point for BCPL and CAAA.
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Drawdown Indicators
| BCPL | CAAA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.95% | -2.24% | -0.71% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.08% | — |
Current DrawdownCurrent decline from peak | -1.12% | -1.04% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -1.05% | -0.56% | -0.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.67% | — |
Volatility
BCPL vs. CAAA - Volatility Comparison
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Volatility by Period
| BCPL | CAAA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.04% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.16% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.04% | 3.07% | +0.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.04% | 3.21% | +0.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.04% | 3.21% | +0.83% |
BCPL vs. CAAA - Expense Ratio Comparison
BCPL has a 0.40% expense ratio, which is lower than CAAA's 0.55% expense ratio.
Dividends
BCPL vs. CAAA - Dividend Comparison
BCPL's dividend yield for the trailing twelve months is around 1.57%, less than CAAA's 5.30% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BCPL BNY Mellon Core Plus ETF | 1.57% | 0.00% | 0.00% |
CAAA First Trust Commercial Mortgage Opportunities ETF | 5.30% | 6.09% | 4.01% |
Frequently Asked Questions
BCPL and CAAA have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BCPL is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BCPL is cheaper with a 0.40% expense ratio, compared with 0.55% for CAAA.
CAAA has the higher dividend yield at 5.30%, compared with 1.57% for BCPL.
They also come from different issuers: BNY Mellon and First Trust. Their fees differ too: 0.40% for BCPL and 0.55% for CAAA.
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