# First Trust AAA CMBS ETF (CAAA): ETF Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/caaa for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: First Trust · Asset class: Core Investment Grade Bond - Strategy: Actively Managed · Inception: 2024-02-27 The First Trust AAA CMBS ETF aims to deliver the maximum possible long-term total return to its investors. Under normal market conditions, the Fund dedicates a significant portion—at least 80%—of its net assets (including any capital borrowed for investment purposes) to commercial mortgage-backed securities (CMBS). At the time of purchase, these CMBS must possess a 'AAA' credit rating or an equivalent high quality, as confirmed by at least one nationally recognized statistical rating organization (NRSRO). Alternatively, if a security is unrated, the Fund's Advisor will determine that it has... ## Key Facts | Metric | Value | |---|---| | Price | $19.77 | | Expense Ratio | 0.30% | | Assets Under Management | $34.7M | | NAV | $19.81 | | Holdings Count | 111 | | Distribution Yield (TTM) | 4.82% | | Annual Distribution (TTM) | $0.95 /share | | Distribution Frequency | Monthly | | 52-Week Range | $19.65 – $20.85 | | Beta | 0.12 | ## Latest Distribution - Amount: $0.0700 /share - Ex-date: 2026-10-21 - Pay date: 2026-10-30 ## Frequently Asked Questions ### What does CAAA invest in? The First Trust AAA CMBS ETF aims to deliver the maximum possible long-term total return to its investors. Under normal market conditions, the Fund dedicates a significant portion—at least 80%—of its net assets (including any capital borrowed for investment purposes) to commercial mortgage-backed securities (CMBS). At the time of purchase, these CMBS must possess a 'AAA' credit rating or an equivalent high quality, as confirmed by at least one nationally recognized statistical rating organization (NRSRO). Alternatively, if a security is unrated, the Fund's Advisor will determine that it has a comparable credit quality at the point of acquisition. ### What is the expense ratio of CAAA? First Trust AAA CMBS ETF (CAAA) charges an expense ratio of 0.30%. This is the annual fee deducted from fund assets to cover management and operations. ### What is CAAA's dividend yield? CAAA's trailing-twelve-month yield is 4.82%, calculated from the sum of dividends over the past year divided by the current price. ### What is the duration of CAAA? Effective duration measures CAAA's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. CAAA's current duration is published on the fund's factsheet on the issuer's website. ### What is the credit quality of CAAA? CAAA's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds. ### What is the yield to maturity of CAAA? Yield to maturity (YTM) is the total return you'd earn from CAAA if every bond in the portfolio is held to maturity at the current price. CAAA's YTM is published on the fund's factsheet on the issuer's website. It differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid. ### Does CAAA pay a dividend? Yes, First Trust AAA CMBS ETF (CAAA) distributes dividends to shareholders. The trailing-twelve-month yield is 4.82%. Full dividend history is on this page. ### How often does CAAA pay dividends? First Trust AAA CMBS ETF pays dividends Monthly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### When is CAAA's next ex-dividend date? The most recently announced ex-dividend date for CAAA was 2026-10-21. The next ex-date typically follows Monthly; once announced it appears at the top of the dividend history table on this page. ### How much will CAAA's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.30% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does CAAA charge its expense ratio? The expense ratio is deducted in tiny daily slices from CAAA's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does CAAA cost more than a fund like VOO? CAAA is actively managed (current expense ratio 0.30%). Active funds charge more than passive index trackers in exchange for the manager's discretion to over- or under-weight positions. The Cost Verdict card above tells you whether CAAA's fee is competitive for the active-management cohort. ### Are there cheaper alternatives to CAAA? The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as CAAA (0.30%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/caaa - Distribution history: https://www.dividenddata.com/funds/caaa/dividend - Holdings & diversification: https://www.dividenddata.com/funds/caaa/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/caaa/expenses - Peer comparison: https://www.dividenddata.com/funds/caaa/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.