First Trust AAA CMBS ETF
CAAA
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- 120 East Liberty Drive, Suite 400 Wheaton IL United States of America 60187
- IPO Date
- Feb 27, 2024
- CIK
- 0001517936
- Website
- ftportfolios.com
- Similar Companies
- Business
- First Trust AAA CMBS ETF (CAAA) is an actively managed exchange-traded fund that seeks to maximize long-term total return by investing at least 80% of its net assets in commercial mortgage-backed securities (CMBS) rated AAA or equivalent at the time of purchase, with an expectation to allocate at least 90% to such high-quality securities; these include fixed- and floating-rate bonds collateralized by mortgages on commercial and multi-family properties across sub-sectors such as conduit CMBS, single asset single borrower (SASB) CMBS, and commercial real estate collateralized loan obligations (CRE CLOs). The fund employs quantitative and qualitative methods for active duration and credit management, targeting a weighted average duration within plus or minus two years of the Bloomberg Non-Agency Investment Grade CMBS: US Aggregate Eligible Aaa Index benchmark, while providing dedicated exposure to the $1.8 trillion CMBS market as of June 30, 2025. It primarily serves investors seeking high-quality income and diversification within fixed income portfolios, focusing on senior tranches insulated by subordination and diversification across property types, geographies, and underwriting metrics. Launched on February 27, 2024, and listed on NYSE Arca, the ETF is advised by First Trust Advisors L.P., an affiliate of distributor First Trust Portfolios L.P., with headquarters in Wheaton, Illinois; the portfolio management team, part of the First Trust Government & Securitized Products Group formed in 2005 and joined First Trust in 2013, brings over 100 years of combined experience in real estate and mortgage-related assets. The fund marked First Trust's expansion of its taxable fixed income ETF lineup to 235 funds and 18 in the actively managed fixed income category upon inception, alongside the launch of the SCIO ETF targeting structured credit opportunities. No major acquisitions, partnerships, funding rounds, or strategic shifts have been reported for the fund in the last 1-2 years beyond its initial launch and ongoing active management adjustments to economic trends, commercial real estate fundamentals, and market spreads. As of late 2025, the ETF maintains approximately 94 holdings, including positions in securities like the 5 Year Treasury Note Future, CSMC 2019-UVIL, and various CMBS trusts such as 2023-MIC Trust and BSTN COML MTG TR 2025-1C, with assets under management around $27.61 million and shares trading near $20.45.