CAAA vs UBND
First Trust AAA CMBS ETF vs VictoryShares Core Plus Bond ETF
Which is better, CAAA or UBND?
CAAA has been ahead.
CAAA has a lower expense ratio. CAAA led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.94.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | CAAA | UBND |
|---|---|---|
| Expense Ratio | 0.30%Best | 0.40% |
| AUM | $35M | $2.0B |
| Dividend Yield | 4.78% | 5.04% |
| Holdings | 233 | 3,263 |
| YTD Return | +0.51%Best | -0.95% |
| 1Y Return | +0.67%Best | -0.66% |
| 3Y Return (annualized) | - | +5.23% |
| 5Y Return (annualized) | - | +0.67% |
| Volatility (annualized) | 3.3%Best | 4.6% |
| Max Drawdown | -2.3%Best | -4.6% |
| $10,000 over 2.7 years | $11,309Best | $11,100 |
| Fund Family | First Trust Portfolios (US) | Victory Capital Management Inc. |
| Category | Fixed Income | Fixed Income |
| Style | Long Term High Quality | Long Term High Quality |
| Inception | Feb 27, 2024 | Oct 4, 2021 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 2.7 years row, are measured over the window both funds cover: Feb 28, 2024 to Nov 11, 2026 (2.7 years).
CAAA vs UBND growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2.7 years both funds cover.
CAAA vs UBND Performance
First Trust AAA CMBS ETF (CAAA) is an ETF from First Trust Portfolios (US) and VictoryShares Core Plus Bond ETF (UBND) is an ETF from Victory Capital Management Inc.. Over the past year CAAA returned +0.67% while UBND returned -0.66%. Year to date, CAAA is up 0.51% versus a loss of 0.95% for UBND.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
UBND has been the more volatile fund, with annualized monthly volatility of 4.6% compared with 3.3% for CAAA. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -2.3% for CAAA and -4.6% for UBND. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.94. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
CAAA charges 0.30% per year while UBND charges 0.40%. On a $10,000 position that is $30 vs $40 annually, a gap of $10 per year that compounds over a long holding period. On income, CAAA currently yields 4.78% against 5.04% for UBND.
Holdings Overlap
We hold position weights for 50 holdings in CAAA and 731 in UBND, totalling 42.4% and 36.0% of the two funds. Neither is a share of a fund we can divide by, so no overlap percentage is shown here. Within what we can see, 8 positions appear in both.
8 positions in common, counted across the 50 positions we hold weights for in CAAA and 731 in UBND, against full books of 233 and 3,263.
Top Shared Holdings
| Stock | Weight in CAAA | Weight in UBND | Difference |
|---|---|---|---|
| BSTN 2025-1C ABstn Commercial Mortgage Trust 2025-1C, Series 2025-1C, Class A | 1.55% | 0.23% | 1.32% |
| HGMT 2025-HGLR AHouston Galleria Mall Trust, Series 2025-Hglr, Class A 02/05/2045 | 1.49% | 0.05% | 1.44% |
| NY 2025-299P ANy 25-299P A 144A Frn 02-10-35 5.66371 | 1.42% | 0.08% | 1.34% |
| BX 2020-VIV4 ABx Commercial Mortgage Trust 2018-Bioa 2.843% 2.843% 03/09/2044 2.843 2044-03-09 | 1.28% | 0.22% | 1.06% |
| SLG 2021-OVA ASlg Office Trust 2021-Ova Slg 2021-Ova A 2.585400% 07/15/2041 | 0.81% | 0.08% | 0.73% |
| BX 2025-GW ABx Trust Bx 2025 Gw A 144A | 0.76% | 0.01% | 0.75% |
| IRV 2025-200P AIrv Trust 2025-200P 5.29 03/14/2047 | 0.28% | 0.21% | 0.07% |
| AMMST 2020-MF1 ASAMMST 2020 VRN 05/15/53 | 0.40% | 0.08% | 0.32% |
You are not choosing between two funds in isolation.
Whichever of CAAA and UBND you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CAAA or UBND?
CAAA has an expense ratio of 0.30% while UBND charges 0.40%. CAAA is the cheaper option, by $10 a year on a $10,000 investment.
Which performed better, CAAA or UBND?
Over the past year CAAA returned +0.67% vs -0.66% for UBND, so CAAA leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CAAA or UBND?
UBND has been the more volatile fund at 4.6% annualized versus 3.3% for CAAA. Worst drawdown: CAAA -2.3% vs UBND -4.6%.
Should I hold both CAAA and UBND?
CAAA and UBND have a monthly-return correlation of 0.94, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, CAAA or UBND?
CAAA yields 4.78% while UBND yields 5.04%, so UBND currently pays the higher dividend yield.
Is UBND better than CAAA?
CAAA has a lower expense ratio. CAAA led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.94. Which one suits a particular account depends on what it is for. This is information, not a recommendation.