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CAAA First Trust AAA CMBS ETF
ETFETF quote, holdings, sector allocation, technicals, and options analytics. Fibonacci levels
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.
CAAA
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Key stats
About
First Trust AAA CMBS ETF (CAAA) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2024-02-27
- Has Options
- No
Fund profile
holdings as of Oct 20, 2026issuer datathrough Jul 2026flows, SEC filings
- Expense ratio
- 0.46% prospectus, filed Nov 28, 2025
- Assets
- $35M issuer-reported, Oct 20, 2026
- Trailing yield
- 4.83% paid monthly
- Average daily volume
- $78K 30 sessions
- Holdings
- 116 top 10 are 15.7%
- Listed
- Feb 27, 2024 NYSE Arca
- Last fee change
- -10 bp filed Sep 2, 2025
- Net asset value
- $19.80 issuer, Oct 20, 2026
- 30-day SEC yield
- 4.47% issuer, Sep 30, 2026
Cost26
Liquidity0
Scale18
Diversification97
Moves with. Long Treasuries (21% of its variance, beta 0.13); High yield over Treasuries (7% of its variance, beta -0.17); US large-cap stocks (6% of its variance, beta 0.06); US dollar (3% of its variance, beta -0.06). These factors explain 38% of its daily moves over the last year.
Stated objective. "The First Trust AAA CMBS ETF (the ""Fund"") seeks to maximize long-term total return." (from the fund's prospectus)
All 116 holdingsFlow historyOverlap toolAll Mortgage & Securitized ETFs
Fund flows
through Jul 2026SEC filings- Jul 2026
- +$1.0M latest reported month
- Latest 3 months
- +$3.0M +8.6% of assets
- Latest 12 months
- +$17M +49.5% of assets
View as a table
| Month | Net flow |
|---|---|
| Jul 2026 | +$1.0M |
| Jun 2026 | +$2.0M |
| May 2026 | $0 |
| Apr 2026 | +$2.0M |
| Mar 2026 | −$1.0M |
| Feb 2026 | −$209 |
| Jan 2026 | +$4.1M |
| Dec 2025 | +$2.1M |
| Nov 2025 | $0 |
| Oct 2025 | $0 |
| Sep 2025 | +$3.1M |
| Aug 2025 | +$4.1M |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 30 months ago
Similar funds
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| MBBiShares MBS ETF | — | 0.04% | $35.2B | −5.7% | compare |
| VMBSVanguard Mortgage-Backed Securities ETF | — | 0.03% | $15.7B | −5.2% | compare |
| SPMBState Street SPDR Portfolio Mortgage Backed Bond ETF | — | 0.04% | $6.9B | −5.7% | compare |
| JMTGJPMorgan Mortgage-Backed Securities ETF | — | 0.24% | $6.7B | −5.4% | compare |
| SMBSSchwab Mortgage-Backed Securities ETF | — | 0.03% | $6.4B | −6.3% | compare |
The largest other funds in the Mortgage & Securitized category.
Under the hood
fiscal year to Jul 31, 2025SEC census- Authorized participants
- 6 active of 24 with agreements; top 3 did 77%
- Created · redeemed
- $8.1M · $5.1M over the fiscal year
- Redemptions in kind
- 0% creations 0% in kind
- Creation unit
- 50,000 shares
- Securities lending
- authorized, none lent
- Diversification status
- Non-diversified may concentrate in fewer issuers
From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.
ETF Profile
holdings as of 2026-10-20
Holdings
116
AUM
$34.5M
Provider
First Trust
Inception
2024-02-27
Exchange
ARCX
Data As Of
2026-10-20
Expense Ratio
0.46%
Dividend Yield
4.83%
Distribution
Monthly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-10-21 | 2026-10-30 | $0.0700 | CD |
| 2026-09-24 | 2026-09-30 | $0.0700 | CD |
| 2026-08-21 | 2026-08-31 | $0.0700 | CD |
| 2026-07-21 | 2026-07-31 | $0.0700 | CD |
| 2026-06-25 | 2026-06-30 | $0.0700 | CD |
| 2026-05-21 | 2026-05-29 | $0.0700 | CD |
Asset Allocation
Top Holdings
top 50 of 116 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| — | US Dollar | 3.27% | Cash/Money Market | — |
| — | BX Trust Series 2025-ARIA, Class A, Variable rate, due 12/13/2042 | 1.83% | MBS/ABS | — |
| — | BX Trust Series 2025-DELC, Class A, Variable rate, due 12/15/2030 | 1.74% | MBS/ABS | — |
| — | SWCH Commercial Mortgage Trust Series 2025-DATA, Class A, Variable rate, due 02/15/2042 | 1.59% | MBS/ABS | — |
| — | THE 2023-MIC Trust Series 2023-MIC, Class A, Variable rate, due 12/05/2038 | 1.59% | MBS/ABS | — |
| — | BSTN Commercial Mortgage Trust Series 2025-1C, Class A, Variable rate, due 06/15/2044 | 1.55% | MBS/ABS | — |
| — | CENT Trust Series 2025-CITY, Class A, Variable rate, due 07/10/2040 | 1.54% | MBS/ABS | — |
| — | HOUSTON GALLERIA MALL TRUST Series 2025-HGLR, Class A, Variable rate, due 02/05/2045 | 1.49% | MBS/ABS | — |
| — | CHI Commercial Mortgage Trust Series 2025-SFT, Class A, Variable rate, due 04/15/2042 | 1.48% | MBS/ABS | — |
| — | Barclays Commercial Mortgage Securities LLC Series 2018-TALL, Class A, Variable rate, due 03/15/2037 | 1.46% | MBS/ABS | — |
| — | JP Morgan Chase Commercial Mortgage Sec Trust Series 2025-PHNY, Class A, Variable rate, due 01/15/2041 | 1.45% | MBS/ABS | — |
| — | U.S. Treasury Bill, 0%, due 10/29/2026 | 1.45% | Treasury | US |
| — | Bank Series 2020-BN29, Class ASB, 1.805%, due 11/15/2053 | 1.44% | MBS/ABS | — |
| — | TEXAS Commercial Mortgage Trust Series 2025-TWR, Class A, Variable rate, due 04/15/2042 | 1.44% | MBS/ABS | — |
| — | Bank Series 2020-BN25, Class A5, 2.649%, due 01/15/2063 | 1.43% | MBS/ABS | — |
| — | NY Commercial Mortgage Trust Series 2025-299P, Class A, Variable rate, due 02/10/2035 | 1.42% | MBS/ABS | — |
| — | GGP Trust Series 2026-2PAK, Class A, Variable rate, due 04/10/2043 | 1.40% | MBS/ABS | — |
| — | INT Commercial Mortgage Trust Series 2025-PLAZA, Class A, Variable rate, due 11/05/2037 | 1.40% | MBS/ABS | — |
| — | Barclays Commercial Mortgage Securities LLC Series 2020-C8, Class A5, 2.04%, due 10/15/2053 | 1.39% | MBS/ABS | — |
| — | CONE Commercial Mortgage Trust Series 2026-DFW3, Class A, Variable rate, due 05/15/2043 | 1.38% | MBS/ABS | — |
| — | VRTX Trust Series 2025-HQ, Class A, Variable rate, due 08/05/2042 | 1.38% | MBS/ABS | — |
| — | BENCHMARK Mortgage Trust Series 2021-B25, Class A4, 2.268%, due 04/15/2054 | 1.29% | MBS/ABS | — |
| — | BX Trust Series 2020-VIV4, Class A, 2.843%, due 03/09/2044 | 1.28% | MBS/ABS | — |
| — | SKY1 2025-LINE A Series 2025-LINE, Class A, Variable rate, due 04/15/2030 | 1.28% | MBS/ABS | — |
| — | Citigroup Commercial Mortgage Trust Series 2020-420K, Class A, 2.456%, due 11/10/2042 | 1.27% | MBS/ABS | — |
| — | BENCHMARK Mortgage Trust Series 2023-B40, Class ASB, 6.2533%, due 12/15/2056 | 1.26% | MBS/ABS | — |
| — | Bank Series 2020-BN29, Class A4, 1.997%, due 11/15/2053 | 1.24% | MBS/ABS | — |
| — | BWAY Mortgage Trust Series 2025-1535, Class A, Variable rate, due 05/05/2030 | 1.19% | MBS/ABS | — |
| — | FS Trust Series 2026-ORL, Class A, Variable rate, due 02/15/2041 | 1.16% | MBS/ABS | — |
| — | Barclays Commercial Mortgage Securities LLC Series 2017-C1, Class A4, 3.674%, due 02/15/2050 | 1.15% | MBS/ABS | — |
| — | NYO Commercial Mortgage Trust Series 2021-1290, Class A, Variable rate, due 11/15/2038 | 1.09% | MBS/ABS | — |
| — | BX Trust Series 2026-VLT10, Class A, Variable rate, due 06/13/2058 | 1.06% | MBS/ABS | — |
| — | Wells Fargo Commercial Mortgage Trust Series 2018-C47, Class A4, 4.442%, due 09/15/2061 | 1.06% | MBS/ABS | — |
| — | Arbor Multifamily Mortgage Securities Trust Series 2020-MF1, Class A4, 2.4953%, due 05/15/2053 | 1.03% | MBS/ABS | — |
| — | Bank Series 2020-BN30, Class A4, 1.925%, due 12/15/2053 | 1.03% | MBS/ABS | — |
| — | BMO Mortgage Trust Series 2025-C12, Class ASB, 5.76198%, due 06/15/2058 | 1.02% | MBS/ABS | — |
| — | Cantor Commercial Real Estate Lending Series 2019-CF1, Class A2, 3.6234%, due 05/15/2052 | 1.01% | MBS/ABS | — |
| — | Wells Fargo Commercial Mortgage Trust Series 2025-B33RP, Class A, Variable rate, due 08/15/2042 | 1.01% | MBS/ABS | — |
| — | Bank Series 2019-BN18, Class ASB, 3.432%, due 05/15/2062 | 1.00% | MBS/ABS | — |
| — | Wells Fargo Commercial Mortgage Trust Series 2022-C62, Class A4, Variable rate, due 04/15/2055 | 1.00% | MBS/ABS | — |
| — | arbor multifamily mortgage securities trust Series 2021-MF2, Class A4, 2.2515%, due 06/15/2054 | 0.98% | MBS/ABS | — |
| — | Barclays Commercial Mortgage Securities LLC Series 2020-C6, Class ASB, 2.595%, due 02/15/2053 | 0.93% | MBS/ABS | — |
| — | SFO Commerical Mortgage Trust Series 2021-555, Class A, Variable rate, due 05/15/2038 | 0.92% | MBS/ABS | — |
| — | WHARF Commercial Mortgage Trust Series 2025-DC, Class A, Variable rate, due 07/15/2040 | 0.92% | MBS/ABS | US |
| — | ILPT Commercial Mortgage Trust Series 2019-SURF, Class A, 4.145%, due 02/11/2041 | 0.91% | MBS/ABS | — |
| — | MCR Mortgage Trust Seried 2024-TWA, Class A, 5.924%, due 06/12/2039 | 0.88% | MBS/ABS | — |
| — | Barclays Commercial Mortgage Securities LLC Series 2022-C18, Class A5, Variable rate, due 12/15/2055 | 0.87% | MBS/ABS | — |
| — | BMO Mortgage Trust Series 2024-C9, Class ASB, 5.7715%, due 07/15/2057 | 0.87% | MBS/ABS | — |
| — | Hilton USA Trust Series 2025-NVIL, Class A, Variable rate, due 07/15/2042 | 0.87% | MBS/ABS | — |
| — | KRE Commercial Mortgage Trust Series 2026-ICNA, Class A, Variable rate, due 05/15/2043 | 0.87% | MBS/ABS | — |
Non-Equity Breakdown
First Trust AAA CMBS ETF ·
NPORT-P period 2026-07-31
(filed 2026-09-22)
Net assets:
$35M
· 118 total positions
· equity 0.00%
· non-equity 99.55%
Non-equity holdings
— 118 positions,
99.55% of NAV
| Category | Weight | Value | Positions |
|---|---|---|---|
| ABS-O | 96.22% | $33.9M | 110 |
| Short-term investment | 2.01% | $707168 | 1 |
| Mortgage-backed (US Govt-Sponsored Entity) | 0.86% | $301108 | 1 |
| Mortgage-backed (US Govt Agency) | 0.71% | $250470 | 1 |
| Derivative (interest rate) | -0.25% | $-87320 | 5 |
Chart
Seasonality
| Month | '24 | '25 | '26 | Avg |
|---|---|---|---|---|
| Jan | -- | 0.12% | -0.12% | 0.00% |
| Feb | 0.16% | 0.62% | 0.83% | 0.54% |
| Mar | 0.72% | -0.32% | -1.38% | -0.33% |
| Apr | -1.73% | 0.02% | 0.03% | -0.56% |
| May | 0.39% | -0.65% | -0.47% | -0.24% |
| Jun | 0.22% | 0.94% | 0.32% | 0.49% |
| Jul | 1.37% | -0.51% | -0.96% | -0.03% |
| Aug | 0.61% | 0.55% | -0.14% | 0.34% |
| Sep | 0.63% | -0.09% | -2.09% | -0.52% |
| Oct | -2.20% | -0.32% | 0.03%* | -0.83% |
| Nov | 0.44% | 0.98% | -- | 0.71% |
| Dec | -0.91% | -0.34% | -- | -0.62% |
| Total | -0.36% | 0.99% | -3.91% | -1.10% |
* Only 3 year(s) of data available.
Technical Indicators
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
Trend Indicators
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
Volume & Volatility
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
SMA 20: $19.77
SMA 50: $19.97
SMA 200: $20.26
Current: $19.74
EMA 12: $19.80
EMA 26: $19.84
MACD: -0.0421 | Signal: 0.0144
BEARISH
ADX (14): 32.77
TREND
+DI: 19.19
−DI: 37.95
Momentum Oscillators
RSI (14): 37.63
NEUTRAL
Stoch %K: 60.36
Stoch %D: 75.55
Williams %R: -72.25
Volume & Volatility
BB Upper: $19.85
BB Lower: $19.70
NEUTRAL
OBV: -72,042
Vol SMA 20: 3,709
Vol ROC: 7.97%
ATR: $0.07
True Range: $0.09
HV 20: 3.4%
HV 30: 3.5%
HV 60: 3.1%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis
Click Frenzy-Pro™ for an AI analysis of this ticker.
Analysis includes technical indicators, news sentiment, risk assessment, and specific price levels to watch.
News
All CAAA news →
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CAAA Options Activity & IV Rank
Loading options activity...
Spread Scanner GPU
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score (GPU scanner)
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d
—
—
pts
EXTREME
ATM — / Wing —
30 DTE / 10d
—
—
pts
EXTREME
ATM — / Wing —
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Enter a ticker to render the implied volatility surface.
Volatility Smile
Enter a ticker to render the implied volatility smile.
IV Rank (7 DTE)
IV Rank (30 DTE)
Straddle Price (30 DTE)
Beta Analysis
Risk Metrics
Beta: 0.0723
Alpha: -5.33%
Correlation: 0.2721
R-Squared: 7.4%
Stock Volatility: 3.4%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
Low volatility - stock moves less than market
Low volatility - stock moves less than market
Beta & Alpha Over Time
CAAA Institutional Ownership (13F)
Latest filings — 2026-09-30Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
| # | Filer | Notional Value | % of Total | Period |
|---|
| # | Filer | Notional Value | % of Total | Period |
|---|
Constituent Performance
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Constituents
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|