FIBR vs. CAAA
FIBR (iShares U.S. Fixed Income Balanced Risk Systematic ETF) and CAAA (First Trust Commercial Mortgage Opportunities ETF) are both Intermediate Core-Plus Bond funds. FIBR is passively managed, while CAAA is actively managed. Over the past year, FIBR returned 5.34% vs 5.28% for CAAA. A 0.62 correlation means they provide meaningful diversification when combined. FIBR charges 0.25%/yr vs 0.55%/yr for CAAA.
Performance
FIBR vs. CAAA - Performance Comparison
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Returns By Period
In the year-to-date period, FIBR achieves a 0.06% return, which is significantly lower than CAAA's 0.56% return.
FIBR
- 1D
- -0.27%
- 1M
- 0.22%
- YTD
- 0.06%
- 6M
- -0.05%
- 1Y
- 5.34%
- 3Y*
- 6.70%
- 5Y*
- 1.54%
- 10Y*
- 2.28%
CAAA
- 1D
- -0.34%
- 1M
- -0.12%
- YTD
- 0.56%
- 6M
- 0.55%
- 1Y
- 5.28%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FIBR vs. CAAA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FIBR iShares U.S. Fixed Income Balanced Risk Systematic ETF | 0.06% | 8.32% | 6.49% |
CAAA First Trust Commercial Mortgage Opportunities ETF | 0.56% | 8.03% | 4.65% |
Correlation
The correlation between FIBR and CAAA is 0.64, 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 | 0.64 |
Correlation (All Time) Calculated using the full available price history since Feb 29, 2024 | 0.62 |
The correlation between FIBR and CAAA has been stable across timeframes, ranging from 0.62 to 0.64 - a consistent structural relationship.
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Return for Risk
FIBR vs. CAAA — Risk / Return Rank
FIBR
CAAA
FIBR vs. CAAA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Fixed Income Balanced Risk Systematic ETF (FIBR) 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.
| FIBR | CAAA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.32 | ||
| Sortino ratioReturn per unit of downside risk | -0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.32 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.79 | 2.55 | -0.75 |
| Martin ratioReturn relative to average drawdown | 5.50 | 7.88 | -2.39 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FIBR | CAAA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.41 | 1.73 | -0.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.27 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.46 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 1.83 | -1.33 |
Drawdowns
FIBR vs. CAAA - Drawdown Comparison
The maximum FIBR drawdown since its inception was -18.47%, which is greater than CAAA's maximum drawdown of -2.24%. Use the drawdown chart below to compare losses from any high point for FIBR and CAAA.
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Drawdown Indicators
| FIBR | CAAA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.47% | -2.24% | -16.23% |
Max Drawdown (1Y)Largest decline over 1 year | -2.99% | -2.08% | -0.91% |
Max Drawdown (3Y)Largest decline over 3 years | -3.08% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -18.47% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -18.47% | — | — |
Current DrawdownCurrent decline from peak | -1.79% | -1.04% | -0.75% |
Average DrawdownAverage peak-to-trough decline | -3.27% | -0.56% | -2.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.97% | 0.67% | +0.30% |
Volatility
FIBR vs. CAAA - Volatility Comparison
iShares U.S. Fixed Income Balanced Risk Systematic ETF (FIBR) has a higher volatility of 1.40% compared to First Trust Commercial Mortgage Opportunities ETF (CAAA) at 1.04%. This indicates that FIBR's price experiences larger fluctuations and is considered to be riskier than CAAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FIBR | CAAA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.40% | 1.04% | +0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 3.10% | 2.16% | +0.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.80% | 3.07% | +0.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.63% | 3.21% | +2.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.95% | 3.21% | +1.74% |
FIBR vs. CAAA - Expense Ratio Comparison
FIBR has a 0.25% expense ratio, which is lower than CAAA's 0.55% expense ratio.
Dividends
FIBR vs. CAAA - Dividend Comparison
FIBR's dividend yield for the trailing twelve months is around 4.62%, less than CAAA's 5.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CAAA First Trust Commercial Mortgage Opportunities ETF | 5.30% | 6.09% | 4.01% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FIBR iShares U.S. Fixed Income Balanced Risk Systematic ETF | 4.62% | 4.78% | 5.04% | 4.44% | 3.27% | 1.92% | 2.57% | 3.27% | 3.61% | 2.74% | 2.92% | 2.26% |
Frequently Asked Questions
FIBR and CAAA have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FIBR has higher volatility (1.40%) compared to CAAA (1.04%). In terms of maximum drawdown, FIBR dropped -18.47% vs CAAA's -2.24%.
On 1-year performance, FIBR leads with 5.34% vs 5.28% for CAAA. On fees, FIBR is cheaper at 0.25% per year. On volatility, CAAA has been the lower-risk option at 1.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FIBR has performed better with a 5.34% return vs 5.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FIBR is cheaper with a 0.25% expense ratio, compared with 0.55% for CAAA.
CAAA has the higher dividend yield at 5.30%, compared with 4.62% for FIBR.
They also come from different issuers: iShares and First Trust. Their fees differ too: 0.25% for FIBR and 0.55% for CAAA.
CAAA currently has the higher Sharpe Ratio (1.73 vs 1.41), 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.
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