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Name

As of 06/01/2026

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

First Trust AAA CMBS ETF

CAAA | Active ETF

$20.25

$32.5 M

4.15%

$0.84

0.46%

Vitals

YTD Return

0.6%

1 yr return

5.2%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$32.5 M

Holdings in Top 10

19.7%

52 WEEK LOW AND HIGH

$20.3
$20.17
$20.79

Expenses

OPERATING FEES

Expense Ratio 0.46%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 06/01/2026

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

First Trust AAA CMBS ETF

CAAA | Active ETF

$20.25

$32.5 M

4.15%

$0.84

0.46%

CAAA - Profile

Distributions

  • YTD Total Return 0.6%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 4.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    First Trust AAA CMBS ETF
  • Fund Family Name
    First Trust Advisors L.P.
  • Inception Date
    Feb 28, 2024
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US

Fund Description

Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in commercial mortgage-backed securities (“CMBS”with a‘AAA’rating(or equivalent) at the time of purchase, as determined by at least one nationally recognized statistical rating organization “NRSRO”) or, if unrated, as determined by the Advisor to be of comparable credit quality at the time of purchase. The Fund generally expects to invest at least 90% of its net assets in CMBS with a ‘AAA’ rating (or equivalent) at the time of purchase, as determined by at least one NRSRO or,if unrated,asdeterminedby the Advisor to be of comparable credit quality at the time of purchase. The Fund will not invest in CMBS with a rating below "A-" (or equivalent) at the time of purchase. However, after purchase, a CMBS may have its rating reduced below the minimum rating required by the Fund for purchase. In such cases, the Fund will consider whether to continue to hold the CMBS. In the case of a split rating on a security between one or more of the NRSROs, the Fund will consider the highest rating. The Fund seeks to achieve its objective by investing in a portfolio of CMBS. CMBS typically represent an interest in a pool of commercial mortgage loans in the form of fixed and floating rate securities. The Fund will invest primarily in non-agency CMBS. The Fund may also invest in restricted CMBS and interest or principal only CMBS. The investment advisor determines which investments to buy and sell by employing a relative value approach, pursuant to which it judges each security's risk-versus-reward characteristics against other securities. At the core of its investment process, the investment advisor utilizes quantitative and qualitative methods to assess risks and opportunities in seeking to deliver superior risk-adjusted returns. Under normal market conditions, the Fund seeks to construct a portfolio that has a weighted average duration of +/- two years of the weighted average duration of the Bloomberg Non-Agency Investment Grade CMBS: US Aggregate Eligible Aaa Index. As of October 31, 2025, the weighted average duration of the Bloomberg Non-Agency Investment Grade CMBS: US Aggregate Eligible Aaa Index was 3.52 years. Duration is a mathematical calculation of the average life of a debt security (or portfolio of debt securities) that serves as a measure of its price risk. In general, each year of duration represents an expected 1% change in the value of a security for every 1% immediate change in interest rates. For example, if a portfolio of mortgage loans has an average duration of three years, its value can be expected to fall about 3% if interest rates rise by 1%. Conversely, the portfolio’s value can be expected to rise about 3% if interest rates fall by 1%. As a result, prices of instruments with shorter durations tend to be less sensitive to interest rate changes than instruments with longer durations. As the value of a security changes over time, so will its duration. The Fund’s investment advisor will calculate the duration of the portfolio by modeling the cash flows of all the individual holdings, including the impact of prepayment variability and coupon adjustments where applicable, to determine the duration of each holding and then aggregating based on the size of the position. In performing this duration calculation, the Fund’s advisor will utilize third-party models. The Fund may invest in exchange-listed or over-the-counter (“OTC”) traded derivatives instruments, including futures, forwards, options and swaps. The Fund’s use of derivatives will be used to manage risks, serve as a substitute for a position in the underlying asset, reduce transaction costs, maintain full market exposure, to manage cash flows and/or to preserve capital. Additionally, the Fund may take short positions in U.S. treasury futures contracts in order to manage the Fund’s duration. Derivatives with comparable economic characteristics to CMBS may be used to satisfy the Fund's stated policy to invest at least 80% of its net assets (plus any borrowings for investment purposes) in CMBS with a ‘AAA’ rating (or equivalent) at the time of purchase. The Fund may use certain credit derivatives to obtain exposure to the CMBS market, such as CMBX. The Fund may use CMBX exposure in two ways: when the Fund is a buyer of CMBX credit protection, it seeks to manage its risk exposure to the CMBS market; when the Fund is a seller of CMBX credit protection, it seeks to gain exposure to the CMBS market, similar to investing directly in a basket of CMBS. When the Fund obtains exposure to the CMBS market using CMBX, it will be considered an investment in a derivative with comparable economic characteristics to CMBS for purposes of the Fund's stated policy to invest at least 80% of its net assets (plus any borrowings for investment purposes) in CMBS with‘AAA’ rating (or equivalent) at the time of purchase. The Fund’s investments will be concentrated (i.e., 25% or more of the Fund’s total assets) in the industries constituting the mortgage-related securities sector. The Fund is classified as “non-diversified” under the Investment Company Act of 1940, as amended (the “1940 Act”).
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CAAA - Performance

Return Ranking - Trailing

Period CAAA Return Category Return Low Category Return High Rank in Category (%)
YTD 0.6% N/A N/A N/A
1 Yr 5.2% N/A N/A N/A
3 Yr N/A* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Return Ranking - Calendar

Period CAAA Return Category Return Low Category Return High Rank in Category (%)
2025 1.6% N/A N/A N/A
2024 N/A N/A N/A N/A
2023 N/A N/A N/A N/A
2022 N/A N/A N/A N/A
2021 N/A N/A N/A N/A

Total Return Ranking - Trailing

Period CAAA Return Category Return Low Category Return High Rank in Category (%)
YTD 0.6% N/A N/A N/A
1 Yr 5.2% N/A N/A N/A
3 Yr N/A* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Total Return Ranking - Calendar

Period CAAA Return Category Return Low Category Return High Rank in Category (%)
2025 8.0% N/A N/A N/A
2024 N/A N/A N/A N/A
2023 N/A N/A N/A N/A
2022 N/A N/A N/A N/A
2021 N/A N/A N/A N/A

CAAA - Holdings

Concentration Analysis

CAAA Category Low Category High CAAA % Rank
Net Assets 32.5 M N/A N/A N/A
Number of Holdings 108 N/A N/A N/A
Net Assets in Top 10 6.24 M N/A N/A N/A
Weighting of Top 10 19.65% N/A N/A N/A

Top 10 Holdings

  1. MSILF Treasury Portfolio 3.74%
  2. CSMC Series 2019-UVIL 1.94%
  3. BX Trust 2025-DELC 1.90%
  4. 2023-MIC Trust/THE 1.81%
  5. BSTN Commercial Mortgage Trust 2025-1C 1.78%
  6. CENT 2025-CITY 1.76%
  7. SWCH Commercial Mortgage Trust 2025-DATA 1.74%
  8. CHI Commercial Mortgage Trust 2025-SFT 1.68%
  9. NY Commercial Mortgage Trust 2025-299P 1.66%
  10. BBCMS 2018-TALL Mortgage Trust 1.64%

Asset Allocation

Weighting Return Low Return High CAAA % Rank
Bonds 		98.21% N/A N/A N/A
Cash 		3.74% N/A N/A N/A
Stocks 		0.00% N/A N/A N/A
Preferred Stocks 		0.00% N/A N/A N/A
Convertible Bonds 		0.00% N/A N/A N/A
Other 		-0.09% N/A N/A N/A

Bond Sector Breakdown

Weighting Return Low Return High CAAA % Rank
Cash & Equivalents 		3.74% N/A N/A N/A
Securitized 		0.00% N/A N/A N/A
Corporate 		0.00% N/A N/A N/A
Municipal 		0.00% N/A N/A N/A
Government 		0.00% N/A N/A N/A
Derivative 		-0.09% N/A N/A N/A

Bond Geographic Breakdown

Weighting Return Low Return High CAAA % Rank
US 		98.21% N/A N/A N/A
Non US 		0.00% N/A N/A N/A

CAAA - Expenses

Operational Fees

CAAA Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.46% N/A N/A N/A
Management Fee 0.45% N/A N/A N/A
12b-1 Fee N/A N/A N/A N/A
Administrative Fee N/A N/A N/A N/A

Sales Fees

CAAA Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A N/A N/A N/A
Deferred Load N/A N/A N/A N/A

Trading Fees

CAAA Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

CAAA Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A N/A N/A N/A

CAAA - Distributions

Dividend Yield Analysis

CAAA Category Low Category High CAAA % Rank
Dividend Yield 4.15% N/A N/A N/A

Dividend Distribution Analysis

CAAA Category Low Category High Category Mod
Dividend Distribution Frequency Monthly

Net Income Ratio Analysis

CAAA Category Low Category High CAAA % Rank
Net Income Ratio N/A N/A N/A N/A

Capital Gain Distribution Analysis

CAAA Category Low Category High Capital Mode
Capital Gain Distribution Frequency

Distributions History

View More +

CAAA - Fund Manager Analysis

Tenure Analysis

Category Low Category High Category Average Category Mode
N/A N/A N/A N/A

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