CAAA vs. MAMB

Last updated Apr 1, 2026

Compare and contrast key facts about First Trust Commercial Mortgage Opportunities ETF (CAAA) and Monarch Ambassador Income ETF (MAMB).

CAAA and MAMB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CAAA is an actively managed fund by First Trust. It was launched on Feb 26, 2024. MAMB is a passively managed fund by Monarch that tracks the performance of the Monarch Ambassador Income Index. It was launched on Mar 23, 2021.

Performance

CAAA vs. MAMB - Performance Comparison

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

CAAA vs. MAMB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CAAA First Trust Commercial Mortgage Opportunities ETF	0.17%	8.03%	4.65%
MAMB Monarch Ambassador Income ETF	1.19%	10.69%	3.37%

Returns By Period

In the year-to-date period, CAAA achieves a 0.17% return, which is significantly lower than MAMB's 1.19% return.

CAAA

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

MAMB

• 1D: 0.75%
• 1M: -2.44%
• YTD: 1.19%
• 6M: 3.06%
• 1Y: 8.39%
• 3Y*: 4.79%
• 5Y*: 0.88%
• 10Y*: —

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

CAAA vs. MAMB - Expense Ratio Comparison

CAAA has a 0.55% expense ratio, which is lower than MAMB's 1.49% expense ratio.

MAMB

Monarch Ambassador Income ETF

CAAA

First Trust Commercial Mortgage Opportunities ETF

Return for Risk

CAAA vs. MAMB — Risk / Return Rank

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

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

MAMB

MAMB Risk / Return Rank: 75
MAMB Sharpe Ratio Rank: 75
MAMB Sortino Ratio Rank: 75
MAMB Omega Ratio Rank: 67
MAMB Calmar Ratio Rank: 83
MAMB Martin Ratio Rank: 73

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.

CAAA vs. MAMB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Commercial Mortgage Opportunities ETF (CAAA) and Monarch Ambassador Income ETF (MAMB). 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.

	CAAA	MAMB	Difference
Sharpe ratio Return per unit of total volatility	1.68	1.38	+0.29
Sortino ratio Return per unit of downside risk	2.43	1.95	+0.48
Omega ratio Gain probability vs. loss probability	1.31	1.25	+0.06
Calmar ratio Return relative to maximum drawdown	2.75	2.43	+0.33
Martin ratio Return relative to average drawdown	9.74	7.82	+1.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CAAA vs. MAMB - Sharpe Ratio Comparison

The current CAAA Sharpe Ratio is 1.68, which is comparable to the MAMB Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of CAAA and MAMB, 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

	CAAA	MAMB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.68	1.38	+0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.13	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.91	0.14	+1.77

Correlation

The correlation between CAAA and MAMB is 0.68, 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

CAAA vs. MAMB - Dividend Comparison

CAAA's dividend yield for the trailing twelve months is around 5.68%, more than MAMB's 2.46% yield.

	TTM	2025	2024	2023	2022	2021
CAAA First Trust Commercial Mortgage Opportunities ETF	5.68%	6.09%	4.01%	0.00%	0.00%	0.00%
MAMB Monarch Ambassador Income ETF	2.46%	2.47%	2.11%	1.73%	0.92%	0.56%

Drawdowns

CAAA vs. MAMB - Drawdown Comparison

The maximum CAAA drawdown since its inception was -2.24%, smaller than the maximum MAMB drawdown of -19.33%. Use the drawdown chart below to compare losses from any high point for CAAA and MAMB.

Drawdown Indicators

	CAAA	MAMB	Difference
Max Drawdown Largest peak-to-trough decline	-2.24%	-19.33%	+17.09%
Max Drawdown (1Y) Largest decline over 1 year	-2.08%	-3.55%	+1.47%
Max Drawdown (5Y) Largest decline over 5 years	—	-19.33%	—
Current Drawdown Current decline from peak	-1.42%	-2.44%	+1.02%
Average Drawdown Average peak-to-trough decline	-0.52%	-7.70%	+7.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.59%	1.10%	-0.51%

Volatility

CAAA vs. MAMB - Volatility Comparison

The current volatility for First Trust Commercial Mortgage Opportunities ETF (CAAA) is 1.20%, while Monarch Ambassador Income ETF (MAMB) has a volatility of 2.34%. This indicates that CAAA experiences smaller price fluctuations and is considered to be less risky than MAMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CAAA	MAMB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.20%	2.34%	-1.14%
Volatility (6M) Calculated over the trailing 6-month period	2.20%	4.29%	-2.09%
Volatility (1Y) Calculated over the trailing 1-year period	3.34%	6.09%	-2.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.23%	6.97%	-3.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.23%	6.96%	-3.73%