Angel Oak Income ETF
$20.36−0.12 (−0.59%)
- Expense ratio
- 1.00%
- Fund size
- $1.5B
- 1Y return
- +3.3%
- Yield · Last 12 months
- 5.99%
- Holdings
- 640
- Volume · 30D
- 0.4M sh
- NAV per share
- $20.47
- 52W range
The ETF.net CARY Grade
Score 48 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.FScore 5Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.BScore 62Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.AScore 80Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.BScore 66Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.AScore 72Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.BScore 58Category rank
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
- 640
- 20%
- US 5YR NOTE (CBT) Dec26
Sectors
- Materials100.0%
Geography
- United States87.30%
- Bermuda4.63%
- Canada2.51%
- Ireland2.13%
- Luxembourg1.04%
- Cayman Islands0.71%
- United Kingdom0.60%
- Switzerland0.33%
- 0.76%
CARY Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 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 | +1.8% |
| 1 month | −0.6% |
| 3 months | −0.2% |
| 1 year | +3.3% |
| 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 | +1.8% | |
| 2025 | +7.6% | |
| 2024 | +7.6% | |
| 2023 | +8.7% | |
| 2022 | +0.7% |
CARY in the news
ETF.net Research hasn’t filed on CARY yet — coverage lands here as it’s written.
CARY Dividends
- 5.99%
- $1.23
- $0.09 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Aug 31, 2026 | Sep 1, 2026 | $0.09 |
| Jul 31, 2026 | Aug 3, 2026 | $0.10 |
| Jun 30, 2026 | Jul 1, 2026 | $0.10 |
| May 29, 2026 | Jun 1, 2026 | $0.09 |
| Apr 30, 2026 | May 1, 2026 | $0.09 |
| Mar 31, 2026 | Apr 1, 2026 | $0.11 |
| Feb 27, 2026 | Mar 2, 2026 | $0.08 |
| Jan 30, 2026 | Feb 2, 2026 | $0.07 |
| Dec 31, 2025 | Jan 2, 2026 | $0.18 |
| Nov 28, 2025 | Dec 1, 2025 | $0.09 |
| Oct 31, 2025 | Nov 3, 2025 | $0.10 |
| Sep 30, 2025 | Oct 1, 2025 | $0.13 |
CARY Risk
- 2.8%
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.
- 0.86
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.
- −1.6%
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
- The middle half of Core Securitized Bond funds
- Median 0.40%
Every other Core Securitized Bond fund charges less.