CAAA vs. BNDP
CAAA (First Trust Commercial Mortgage Opportunities ETF) and BNDP (Vanguard Core-Plus Bond Index ETF) are both Intermediate Core-Plus Bond funds. CAAA is actively managed, while BNDP is passively managed. Their 0.70 correlation means they have sometimes moved together and sometimes differently. CAAA charges 0.55%/yr vs 0.05%/yr for BNDP.
Performance
CAAA vs. BNDP - Performance Comparison
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Returns By Period
In the year-to-date period, CAAA achieves a 0.86% return, which is significantly higher than BNDP's -0.22% return.
CAAA
- 1D
- 0.12%
- 1M
- -0.37%
- 6M
- 0.61%
- YTD
- 0.86%
- 1Y
- 3.76%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.55%
BNDP
- 1D
- 0.24%
- 1M
- -0.84%
- 6M
- -0.30%
- YTD
- -0.22%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $492.04K | $485.17K | $755.58K | |
| $95.62K | $87.19K | $147.71K |
CAAA vs. BNDP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CAAA First Trust Commercial Mortgage Opportunities ETF | 0.86% | -0.02% |
BNDP Vanguard Core-Plus Bond Index ETF | -0.22% | 0.08% |
Correlation
The correlation between CAAA and BNDP is 0.70, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 4, 2025 | 0.70 |
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Return for Risk
CAAA vs. BNDP — Risk / Return Rank
CAAA
BNDP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CAAA vs. BNDP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Commercial Mortgage Opportunities ETF (CAAA) and Vanguard Core-Plus Bond Index ETF (BNDP). 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.
| CAAA | BNDP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.22 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | — | — |
| Martin ratioReturn relative to average drawdown | 5.24 | — | — |
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Drawdowns
CAAA vs. BNDP - Drawdown Comparison
The maximum CAAA drawdown since its inception was -2.24%, smaller than the maximum BNDP drawdown of -2.60%. Use the drawdown chart below to compare losses from any high point for CAAA and BNDP.
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Drawdown Indicators
| CAAA | BNDP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.24% | -2.60% | +0.36% |
Max Drawdown (1Y)Largest decline over 1 year | -2.08% | — | — |
Current DrawdownCurrent decline from peak | -0.74% | -1.86% | +1.12% |
Average DrawdownAverage peak-to-trough decline | -0.57% | -0.98% | +0.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.72% | — | — |
Volatility
CAAA vs. BNDP - Volatility Comparison
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Volatility by Period
| CAAA | BNDP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.76% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.32% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.07% | 3.65% | -0.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.19% | 3.65% | -0.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.19% | 3.65% | -0.46% |
CAAA vs. BNDP - Expense Ratio Comparison
CAAA has a 0.55% expense ratio, which is higher than BNDP's 0.05% expense ratio.
Dividends
CAAA vs. BNDP - Dividend Comparison
CAAA's dividend yield for the trailing twelve months is around 5.02%, more than BNDP's 2.87% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BNDP Vanguard Core-Plus Bond Index ETF | 2.87% | 0.24% | 0.00% |
CAAA First Trust Commercial Mortgage Opportunities ETF | 5.02% | 6.09% | 4.01% |
Frequently Asked Questions
CAAA and BNDP have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BNDP is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BNDP is cheaper with a 0.05% expense ratio, compared with 0.55% for CAAA.
CAAA has the higher dividend yield at 5.02%, compared with 2.87% for BNDP.
They also come from different issuers: First Trust and Vanguard. Their fees differ too: 0.55% for CAAA and 0.05% for BNDP.
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