MDIV vs. GAA
Compare and contrast key facts about First Trust Multi-Asset Diversified Income Index Fund (MDIV) and Cambria Global Asset Allocation ETF (GAA).
MDIV and GAA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MDIV is a passively managed fund by First Trust that tracks the performance of the NASDAQ US Multi-Asset Diversified Income Index. It was launched on Aug 14, 2012. GAA is an actively managed fund by Cambria. It was launched on Dec 9, 2014.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: MDIV or GAA.
Key characteristics
| MDIV | GAA | |
|---|---|---|
| YTD Return | 3.51% | 4.23% |
| 1Y Return | 18.24% | 11.50% |
| 3Y Return (Ann) | 4.56% | 1.63% |
| 5Y Return (Ann) | 2.92% | 6.00% |
| Sharpe Ratio | 2.01 | 1.14 |
| Daily Std Dev | 9.76% | 10.57% |
| Max Drawdown | -48.51% | -26.57% |
| Current Drawdown | -0.13% | -1.27% |
Correlation
The correlation between MDIV and GAA is 0.55, 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.
Performance
MDIV vs. GAA - Performance Comparison
In the year-to-date period, MDIV achieves a 3.51% return, which is significantly lower than GAA's 4.23% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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MDIV vs. GAA - Expense Ratio Comparison
MDIV has a 0.73% expense ratio, which is higher than GAA's 0.41% expense ratio.
Risk-Adjusted Performance
MDIV vs. GAA - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Multi-Asset Diversified Income Index Fund (MDIV) and Cambria Global Asset Allocation ETF (GAA). 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.
Dividends
MDIV vs. GAA - Dividend Comparison
MDIV's dividend yield for the trailing twelve months is around 6.64%, more than GAA's 3.64% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MDIV First Trust Multi-Asset Diversified Income Index Fund | 6.64% | 6.47% | 6.71% | 5.30% | 6.00% | 5.90% | 6.76% | 6.04% | 6.35% | 6.16% | 5.73% | 5.67% |
GAA Cambria Global Asset Allocation ETF | 3.64% | 3.73% | 6.05% | 4.21% | 2.73% | 3.32% | 3.01% | 2.36% | 2.82% | 2.49% | 0.57% | 0.00% |
Drawdowns
MDIV vs. GAA - Drawdown Comparison
The maximum MDIV drawdown since its inception was -48.51%, which is greater than GAA's maximum drawdown of -26.57%. Use the drawdown chart below to compare losses from any high point for MDIV and GAA. For additional features, visit the drawdowns tool.
Volatility
MDIV vs. GAA - Volatility Comparison
The current volatility for First Trust Multi-Asset Diversified Income Index Fund (MDIV) is 2.00%, while Cambria Global Asset Allocation ETF (GAA) has a volatility of 2.53%. This indicates that MDIV experiences smaller price fluctuations and is considered to be less risky than GAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.