CAAA Fees and Costs — First Trust Commercial Mortgage Opportunities ETF
Data updated: 2026-10-13
The net expense ratio is 0.46%. There are no sales loads or redemption fees. Portfolio turnover was 92%.
CAAA Fees and Expenses
Annual operating expenses and sales charges of CAAA. Prospectus, as of July 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.46% |
| Fee waiver | — |
| Net expense ratio | 0.46% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | — |
| Redemption fee | — |
CAAA Costs Over Time
On $10,000 invested in CAAA, assuming 5% a year before costs, total costs come to $291 over 5 years, cutting the return by 0.48% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.46%) | $48 | $152 | $264 |
| Lost growth on money paid in costs | $0 | $7 | $27 |
| Total costs | $48 | $159 | $291 |
| Value after costs | $10,452 | $11,417 | $12,472 |
| Impact on return, per year | 0.48% | 0.48% | 0.48% |
CAAA Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending July 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $37.4M
- Portfolio turnover (prospectus): 92%
CAAA Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO SECURITIES, LLC | $8.9M | 25.44% |
| BMO CAPITAL MARKETS CORP. | $8.2M | 23.30% |
| BARCLAYS CAPITAL, INC. | $3.1M | 8.80% |
| J.P. MORGAN SECURITIES LLC | $3.0M | 8.42% |
| MORGAN STANLEY & CO. LLC | $2.9M | 8.20% |
| BOFA SECURITIES, INC. | $2.8M | 7.91% |
| CITIGROUP GLOBAL MARKETS INC. | $2.5M | 7.26% |
| GOLDMAN SACHS & CO. LLC | $2.5M | 7.12% |
| PERFORMANCE TRUST CAPITAL PARTNERS LLC | $668K | 1.90% |
| DEUTSCHE BANK SECURITIES, INC. | $584K | 1.67% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.