KDRN vs. CAAA

Last updated Jun 4, 2026

KDRN (Kingsbarn Tactical Bond ETF) and CAAA (First Trust Commercial Mortgage Opportunities ETF) are both Intermediate Core-Plus Bond funds. Both are actively managed. Over the past year, KDRN returned 3.38% vs 5.28% for CAAA. A 0.70 correlation means they provide meaningful diversification when combined. KDRN charges 1.09%/yr vs 0.55%/yr for CAAA.

Performance

KDRN vs. CAAA - Performance Comparison

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

Returns By Period

In the year-to-date period, KDRN achieves a 1.11% return, which is significantly higher than CAAA's 0.56% return.

KDRN

• 1D: -0.13%
• 1M: 0.30%
• YTD: 1.11%
• 6M: 0.59%
• 1Y: 3.38%
• 3Y*: 3.47%
• 5Y*: —
• 10Y*: —

CAAA

• 1D: -0.34%
• 1M: -0.12%
• YTD: 0.56%
• 6M: 0.55%
• 1Y: 5.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KDRN vs. CAAA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
KDRN Kingsbarn Tactical Bond ETF	1.11%	4.65%	3.47%
CAAA First Trust Commercial Mortgage Opportunities ETF	0.56%	8.03%	4.65%

Correlation

The correlation between KDRN and CAAA is 0.63, 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	0.63
Correlation (All Time) Calculated using the full available price history since Feb 29, 2024	0.70

The correlation between KDRN and CAAA has been stable across timeframes, ranging from 0.63 to 0.70 - a consistent structural relationship.

Return for Risk

KDRN vs. CAAA — Risk / Return Rank

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

KDRN

KDRN Risk / Return Rank: 30
KDRN Sharpe Ratio Rank: 27
KDRN Sortino Ratio Rank: 27
KDRN Omega Ratio Rank: 28
KDRN Calmar Ratio Rank: 39
KDRN Martin Ratio Rank: 28

CAAA

CAAA Risk / Return Rank: 51
CAAA Sharpe Ratio Rank: 50
CAAA Sortino Ratio Rank: 55
CAAA Omega Ratio Rank: 51
CAAA Calmar Ratio Rank: 52
CAAA Martin Ratio Rank: 47

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.

KDRN vs. CAAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kingsbarn Tactical Bond ETF (KDRN) 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.

	KDRN	CAAA	Difference
Sharpe ratio: Return per unit of total volatility	0.96	1.73	-0.77
Sortino ratio: Return per unit of downside risk	1.40	2.62	-1.22
Omega ratio: Gain probability vs. loss probability	1.18	1.32	-0.14
Calmar ratio: Return relative to maximum drawdown	1.91	2.55	-0.63
Martin ratio: Return relative to average drawdown	3.77	7.88	-4.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KDRN vs. CAAA - Sharpe Ratio Comparison

The current KDRN Sharpe Ratio is 0.96, which is lower than the CAAA Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of KDRN and CAAA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	KDRN	CAAA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.96	1.73	-0.77
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	1.83	-1.70

Drawdowns

KDRN vs. CAAA - Drawdown Comparison

The maximum KDRN drawdown since its inception was -15.29%, which is greater than CAAA's maximum drawdown of -2.24%. Use the drawdown chart below to compare losses from any high point for KDRN and CAAA.

Drawdown Indicators

	KDRN	CAAA	Difference
Max Drawdown Largest peak-to-trough decline	-15.29%	-2.24%	-13.05%
Max Drawdown (1Y) Largest decline over 1 year	-1.77%	-2.08%	+0.31%
Max Drawdown (3Y) Largest decline over 3 years	-4.94%	—	—
Current Drawdown Current decline from peak	-0.92%	-1.04%	+0.12%
Average Drawdown Average peak-to-trough decline	-4.77%	-0.56%	-4.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.90%	0.67%	+0.23%

Volatility

KDRN vs. CAAA - Volatility Comparison

The current volatility for Kingsbarn Tactical Bond ETF (KDRN) is 0.73%, while First Trust Commercial Mortgage Opportunities ETF (CAAA) has a volatility of 1.04%. This indicates that KDRN experiences smaller price fluctuations and is considered to be less risky than CAAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KDRN	CAAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.73%	1.04%	-0.31%
Volatility (6M) Calculated over the trailing 6-month period	2.06%	2.16%	-0.10%
Volatility (1Y) Calculated over the trailing 1-year period	3.53%	3.07%	+0.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.61%	3.21%	+3.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.61%	3.21%	+3.40%

KDRN vs. CAAA - Expense Ratio Comparison

KDRN has a 1.09% expense ratio, which is higher than CAAA's 0.55% expense ratio.

Dividends

KDRN vs. CAAA - Dividend Comparison

KDRN's dividend yield for the trailing twelve months is around 3.11%, less than CAAA's 5.30% yield.

Position	TTM	2025	2024	2023	2022
CAAA First Trust Commercial Mortgage Opportunities ETF	5.30%	6.09%	4.01%	0.00%	0.00%
KDRN Kingsbarn Tactical Bond ETF	3.11%	2.54%	2.83%	2.84%	2.11%

Frequently Asked Questions

Can I hold both KDRN and CAAA in my portfolio?

KDRN and CAAA have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KDRN or CAAA?

CAAA has higher volatility (1.04%) compared to KDRN (0.73%). In terms of maximum drawdown, KDRN dropped -15.29% vs CAAA's -2.24%.

Which ETF is better, KDRN or CAAA?

On 1-year performance, CAAA leads with 5.28% vs 3.38% for KDRN. On fees, CAAA is cheaper at 0.55% per year. On volatility, KDRN has been the lower-risk option at 0.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KDRN or CAAA?

Over the 1-year period, CAAA has performed better with a 5.28% return vs 3.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KDRN or CAAA?

CAAA is cheaper with a 0.55% expense ratio, compared with 1.09% for KDRN.

Which ETF pays a higher dividend yield, KDRN or CAAA?

CAAA has the higher dividend yield at 5.30%, compared with 3.11% for KDRN.

What is the main difference between KDRN and CAAA?

They also come from different issuers: Kingsbarn and First Trust. Their fees differ too: 1.09% for KDRN and 0.55% for CAAA.

Which has better risk-adjusted returns?

CAAA currently has the higher Sharpe Ratio (1.73 vs 0.96), 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.