Angel Oak Mortgage-Backed Securities ETF
$8.33−0.07 (−0.78%)
- Expense ratio
- 0.79%
- Fund size
- $203M
- 1Y return
- +1.5%
- Yield · Last 12 months
- 5.66%
- Holdings
- 140
- Volume · 30D
- 0.1M sh
- NAV per share
- $8.39
- 52W range
The ETF.net MBS Grade
Score 24 of 100 sits in the F 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 0Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.FScore 19Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.CScore 46Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.CScore 42Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.CScore 40Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.CScore 47Category rank
Our read on MBS
FMost mortgage ETFs buy government-backed paper and call it a day. Angel Oak's fund goes the other way, picking non-agency residential mortgage bonds, asset-backed paper and corporate debt from a shop built around that corner of credit.
The fund invests in non-agency residential mortgage-backed securities, asset-backed securities, and corporate debt.
Why people hold it
- The niche is the whole point: non-agency residential mortgage-backed securities, asset-backed securities and corporate debt, the paper the big agency-MBS index funds leave on the table.
- No benchmark to hug. The fund declares no index and runs a hand-built book of well over a hundred bond positions.
- Income lands on a monthly cadence, not quarterly.
Worth knowing
- Cost is the trade-off: 0.79% a year against 0.03% at VMBS and 0.04% at MBB. Specialist credit work carries a specialist price tag, and fees are this fund's weakest spot in its peer group.
- Non-agency means no government backstop standing behind the mortgages, so credit selection drives outcomes alongside interest rates.
- Young (2024 launch), modest in size and among the less-traded funds in its category, so spreads can run wider than at the index giants and the record is still short.
MBS Holdings
- Bonds
- 140
- 34%
- Fannie Mae or Freddie Mac 5.5% 10/15/2041
MBS 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 | MBS |
|---|---|
| Year to date | −0.4% |
| 1 month | −1.4% |
| 3 months | −1.4% |
| 1 year | +1.5% |
| 3 years | — |
| 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 | MBS |
|---|---|---|
| 2026 YTD | −0.4% | |
| 2025 | +8.1% | |
| 2024 | +6.5% |
MBS in the news
ETF.net Research hasn’t filed on MBS yet — coverage lands here as it’s written.
MBS Dividends
- 5.66%
- $0.48
- $0.03 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Aug 31, 2026 | Sep 1, 2026 | $0.03 |
| Jul 31, 2026 | Aug 3, 2026 | $0.04 |
| Jun 30, 2026 | Jul 1, 2026 | $0.04 |
| May 29, 2026 | Jun 1, 2026 | $0.04 |
| Apr 30, 2026 | May 1, 2026 | $0.05 |
| Mar 31, 2026 | Apr 1, 2026 | $0.05 |
| Feb 27, 2026 | Mar 2, 2026 | $0.03 |
| Jan 30, 2026 | Feb 2, 2026 | $0.03 |
| Dec 31, 2025 | Jan 2, 2026 | $0.04 |
| Nov 28, 2025 | Dec 1, 2025 | $0.03 |
| Oct 31, 2025 | Nov 3, 2025 | $0.04 |
| Sep 30, 2025 | Oct 1, 2025 | $0.05 |
MBS Risk
- 4.6%
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.
- 0.28
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.
- −4.1%
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.
- 0.95
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
MBS Cost
- The middle half of Mortgage-Backed Securities funds
- Median 0.32%
Every other Mortgage-Backed Securities fund charges less.