Angel Oak Income ETF
The ETF.net CARY Grade
C
Score 50 out of 100
- 7 of 10
Score 50 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.F5 out of 100Rank 10 of 10Mission
Whether the fund did what it promised, tested against its stated mandate.B67 out of 100Rank 8 of 10Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.A82 out of 100Rank 1 of 10Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B69 out of 100Rank 2 of 10Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B67 out of 100Rank 4 of 10Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B58 out of 100Rank 6 of 10
Our read on CARY
In short
CAngel Oak is a structured-credit shop, and CARY is its actively managed income sleeve: bonds picked on collateral, credit support and deal structure, paid out monthly. Fee: 0.80% net of a waiver through September 30, 2027.
Stated mandate
The Fund seeks current income through an actively managed portfolio allocated among multiple income-producing asset classes. The Adviser uses fundamental credit and valuation research and may consider maturity, yield, ratings, collateral, credit support, structure, and market conditions.
Why people hold it
Worth knowing
CARY Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.
CARY$10,320
Returns run to the Nov 9, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | CARY |
|---|---|
| Year to date | +2.3% |
| 1 month | +1.5% |
| 3 months | −0.1% |
| 1 year | +3.2% |
| 3 years | +6.9% |
| 5 years | |
| 10 years |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | CARY |
|---|---|---|
| 2026 YTD | +2.3% | |
| 2025 | +7.6% | |
| 2024 | +7.6% | |
| 2023 | +8.7% | |
| 2022 | +0.7% |
CARY in the news
CARY Dividends
- 5.92%
- $1.21
- $0.10 per share
- Monthly
CARY Risk
- 3.1%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.79
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −2.3%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.45
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FMP measures it over up to five years of monthly returns.
CARY Cost
Overpaying vs JMBS, cheapest in Core Securitized Bond
$10,989
On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.
CARY 0.80%
$15,346
JMBS 0.21% Cheapest
$4,357
Cost over time
Year by year
| Year | CARY | JMBS | Overpaying |
|---|---|---|---|
| 10 | $1,422 | $383 | $1,039 |
| 20 | $5,393 | $1,491 | $3,902 |
| 30 | $15,346 | $4,357 | $10,989 |
You pay 0.80%Waived by Angel Oak 0.20%
Full fee 1.00% waiver 0.20% you pay 0.80%
Other funds in Core Securitized Bond
- BJHMBJohn Hancock Mortgage-Backed Securities ETFExpense ratio 0.39%1 year return +0.3%
- BTRBFAngel Oak Total Return ETFExpense ratio 0.44%1 year return +0.7%
- COWNSCCM Affordable Housing MBS ETFExpense ratio 0.68%1 year return +0.4%
- CDEEDFirst Trust Securitized Plus ETFExpense ratio 0.76%1 year return +1.6%
- DDANADana Limited Volatility ETFExpense ratio 0.35%1 year return