Heat oven to 350 degrees. Grease a 9 inch round baking pan.
Mix applesauce, brown sugar, milk, egg, vanilla, and cinnamon in a large bowl with whisk until smooth.
Fold in bread and pour into baking dish.
Bake for 45 minutes or until golden brown.
Cut into wedges and serve into bowls.
Drizzle caramel topping over each serving.