CAAA vs IVV
CAAA vs IVV
First Trust AAA CMBS ETF vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | CAAA | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.30% | 0.03% | |
| AUM | $35M | $865.2B | |
| Dividend Yield | 5.29% | 1.09% | |
| Holdings | 105 | 508 | |
| YTD Return | +1.11% | +13.52% | |
| 1Y Return | +3.13% | +23.63% | |
| 3Y Return (annualized) | - | +21.26% | |
| 5Y Return (annualized) | - | +13.52% | |
| Volatility (annualized) | 3.0% | 15.1% | |
| Max Drawdown | -2.2% | -56.5% | |
| Fund Family | First Trust Portfolios (US) | iShares by BlackRock (US) | |
| Category | Fixed Income | Equity | |
| Inception | Feb 27, 2024 | May 15, 2000 |
CAAA vs IVV Performance
First Trust AAA CMBS ETF (CAAA) is a ETF from First Trust Portfolios (US) and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year CAAA returned +3.13% while IVV returned +23.63%. Year to date, CAAA is up 1.11% versus a gain of 13.52% for IVV.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 3.0% 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 -2.2% for CAAA and -56.5% for IVV. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.40. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CAAA charges 0.30% per year while IVV charges 0.03%. On a $10,000 position that is $30 vs $3 annually, a gap of $27 per year that compounds over a long holding period. On income, CAAA currently yields 5.29% against 1.09% for IVV.
Holdings Overlap
CAAA and IVV share 0 holdings out of 553 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CAAA or IVV?
CAAA has an expense ratio of 0.30% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $27 per year of difference.
Which performed better, CAAA or IVV?
Over the past year CAAA returned +3.13% vs +23.63% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (2 years), CAAA annualized +5.45% vs +7.04% for IVV. Past performance does not guarantee future results.
Which is riskier, CAAA or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 3.0% for CAAA. Worst drawdown: CAAA -2.2% vs IVV -56.5%.
Should I hold both CAAA and IVV?
CAAA and IVV have a monthly-return correlation of 0.40, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CAAA and IVV?
CAAA and IVV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 553 unique securities.
Which pays a higher dividend, CAAA or IVV?
CAAA yields 5.29% while IVV yields 1.09%, so CAAA currently pays the higher dividend yield.
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