BNDP vs. CAAA

Last updated Apr 2, 2026

Compare and contrast key facts about Vanguard Core-Plus Bond Index ETF (BNDP) and First Trust Commercial Mortgage Opportunities ETF (CAAA).

BNDP and CAAA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BNDP is a passively managed fund by Vanguard that tracks the performance of the Bloomberg U.S. Universal Float Adjusted Index. It was launched on Dec 2, 2025. CAAA is an actively managed fund by First Trust. It was launched on Feb 26, 2024.

Performance

BNDP vs. CAAA - Performance Comparison

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

BNDP vs. CAAA - Yearly Performance Comparison

	2026 (YTD)	2025
BNDP Vanguard Core-Plus Bond Index ETF	-0.18%	0.10%
CAAA First Trust Commercial Mortgage Opportunities ETF	0.24%	0.14%

Returns By Period

In the year-to-date period, BNDP achieves a -0.18% return, which is significantly lower than CAAA's 0.24% return.

BNDP

• 1D: 0.01%
• 1M: -1.44%
• YTD: -0.18%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CAAA

• 1D: 0.07%
• 1M: -0.95%
• YTD: 0.24%
• 6M: 1.43%
• 1Y: 5.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BNDP vs. CAAA - Expense Ratio Comparison

BNDP has a 0.05% expense ratio, which is lower than CAAA's 0.55% expense ratio.

CAAA

First Trust Commercial Mortgage Opportunities ETF

BNDP

Vanguard Core-Plus Bond Index ETF

Return for Risk

BNDP vs. CAAA — Risk / Return Rank

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

CAAA

CAAA Risk / Return Rank: 82
CAAA Sharpe Ratio Rank: 82
CAAA Sortino Ratio Rank: 86
CAAA Omega Ratio Rank: 77
CAAA Calmar Ratio Rank: 84
CAAA Martin Ratio Rank: 80

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.

BNDP vs. CAAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Core-Plus Bond Index ETF (BNDP) 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.

Sharpe Ratios by Period

	BNDP	CAAA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.65	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.08	1.92	-2.00

Correlation

The correlation between BNDP and CAAA is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

BNDP vs. CAAA - Dividend Comparison

BNDP's dividend yield for the trailing twelve months is around 1.32%, less than CAAA's 5.68% yield.

	TTM	2025	2024
BNDP Vanguard Core-Plus Bond Index ETF	1.32%	0.24%	0.00%
CAAA First Trust Commercial Mortgage Opportunities ETF	5.68%	6.09%	4.01%

Drawdowns

BNDP vs. CAAA - Drawdown Comparison

The maximum BNDP drawdown since its inception was -2.56%, which is greater than CAAA's maximum drawdown of -2.24%. Use the drawdown chart below to compare losses from any high point for BNDP and CAAA.

Drawdown Indicators

	BNDP	CAAA	Difference
Max Drawdown Largest peak-to-trough decline	-2.56%	-2.24%	-0.32%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.08%	—
Current Drawdown Current decline from peak	-1.82%	-1.35%	-0.47%
Average Drawdown Average peak-to-trough decline	-0.54%	-0.52%	-0.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.59%	—

Volatility

Volatility by Period

	BNDP	CAAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.20%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.18%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.63%	3.34%	+0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.63%	3.23%	+0.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.63%	3.23%	+0.40%