Angel Oak Income ETF
$20.19+0.02 (+0.12%)
- 1.00%
- $1.4B
- +2.3%
- 5.97%
- 0.4M sh
- $20.17
- low $20.07high $21.55
The ETF.net CARY Grade
C
Score 51 out of 100
- 7 of 10
Score 51 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.B65 out of 100Rank 8 of 10Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.A85 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.A75 out of 100Rank 3 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
CAn aggregate-bond-cohort fund that doesn't own the aggregate index. Angel Oak runs this one as an active push into securitized credit: residential mortgage bonds, asset-backed deals and CLOs, spread across roughly 600 positions and paying monthly.
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
- Built on the corner of the bond market Angel Oak was founded in: residential mortgage bonds, asset-backed securities and CLOs, chosen deal by deal. The firm has run multi-sector fixed income since 2008.angeloakcapital.com
- Income is the mandate, not a byproduct. Payouts come monthly, and risk sits across roughly 600 individual positions, so no single deal steers the portfolio.
- Active by design: managers can move across sectors, ratings and structures as spreads shift, weighing collateral, credit support and deal structure. Assets run past a billion and the shares see steady trading.
Worth knowing
- Cost is the trade-off: 1.00% gross against a 0.36% category median, with index trackers like BND and SCHZ at 0.03%. A contractual adviser waiver holds the net fee below the stated 1.00%.angeloakcapital.com
- Structured credit is not Treasuries. Angel Oak's own disclosures flag that mortgage-backed and asset-backed holdings, plus lower-rated and nonrated bonds, carry a greater risk of loss.angeloakcapital.com
- No index to measure it against day to day. Results ride on the managers' calls, and the mix can look nothing like the broad aggregate bond funds it gets grouped with.
CARY Holdings
- Bonds
- 795
- 21%
- US 5YR NOTE (CBT) Dec26
Sectors
- Materials100.0%
Geography
- United States86.96%
- Bermuda4.70%
- Canada2.73%
- Ireland2.19%
- Luxembourg1.07%
- Cayman Islands0.69%
- United Kingdom0.59%
- Switzerland0.32%
- 0.75%
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$10,226
Returns run to the Oct 12, 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 | +0.8% |
| 1 month | −0.9% |
| 3 months | −1.4% |
| 1 year | +2.3% |
| 3 years | +6.6% |
| 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 | +0.8% | |
| 2025 | +7.6% | |
| 2024 | +7.6% | |
| 2023 | +8.7% | |
| 2022 | +0.7% |
CARY in the news
CARY Dividends
- 5.97%
- $1.20
- $0.10 per share
- Monthly
Distribution history
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.
- 0.63
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.
CARY Cost
1.00%
CARY1.00%
- The middle half of Core Securitized Bond funds
- Median 0.40%
Every other Core Securitized Bond fund charges less.
Other funds in Core Securitized Bond
- BSECRNYLI MacKay Securitized Income ETFExpense ratio 0.40%1 year return −2.0%
- CTRBFAngel Oak Total Return ETFExpense ratio 0.59%1 year return −1.9%
- CDEEDFirst Trust Securitized Plus ETFExpense ratio 0.66%1 year return −0.7%
- COWNSCCM Affordable Housing MBS ETFExpense ratio 0.68%1 year return −2.2%
- CDANADana Limited Volatility ETFExpense ratio 0.35%1 year return —