DABS vs OGSP: Grades, Fees and Holdings Compared

DoubleLine Asset-Backed Securities ETF

DABSBNYSE Arca

Obra High Grade Structured Products ETF

OGSPDNYSE Arca

Overlap

No data

Expense ratio

DABS −0.24pt a year

DABS0.40%OGSP0.64%

Avg volume · 30D

DABS 85.3×the volume

DABS16.4KOGSP192

DABS vs OGSP Performance

Oct 31, 2025 – Nov 2, 2026

+2.7%DABS+4.6%OGSP

Expense ratio: DABS 0.40%, better; OGSP 0.64%
Fund size: DABS $173M; OGSP $29M
1Y total return: DABS +2.7%; OGSP +4.6%, better
Yield (12M): DABS 5.35%; OGSP 5.88%, better
Holdings: DABS 158; OGSP 162
Avg volume (30D): DABS 16.4K sh, better; OGSP 192 sh
NAV per share: DABS $49.92; OGSP $9.94
52W range

ETF.net Grade

Pillar letters and Scores for DABS, OGSP, with each pillar’s weight
Pillar	DABS	OGSP
Cost30% weight	C50Higher	F9
Mission25% weight	C42Higher	F15
Risk15% weight	C49	A78Higher
Tradability15% weight	B62Higher	F12
Holdings10% weight	A70Higher	B67
Durability5% weight	B61Higher	C46

Rank among Multi-Sector Securitized Bond funds

How we build Categories ›

Same Category. DABS and OGSP are both graded against the same 11 Multi-Sector Securitized Bond funds, so their Grades compare head to head.

Multi-Sector Securitized Bond⁠

Category · 11 funds

See all 11 ›

DABS ranks 2nd and OGSP 8th of 11 funds in the Multi-Sector Securitized Bond Category.

Rank 1ANSCINuveen Securitized IncomeScore 71
Rank 2BDABSDoubleLine Asset-Backed Securities ETFScore 55
Rank 3CWDEPrincipal Securitized Debt ETFScore 52
Rank 7CPRABState Street IG Public & Private ABS ETFScore 42
Rank 8DOGSPObra High Grade Structured Products ETFScore 33
JABSNot yet graded
OOSPNot yet graded
TSCZNot yet graded

Our read on each fund

ETF.net Research

DABSBDoubleLine Asset-Backed Securities ETF

OGSPDObra High Grade Structured Products ETF

In short

DABS Asset-backed bonds, the debt built on pools of consumer and business loans, are a hand-picked corner of fixed income. DABS is DoubleLine's active run at it: roughly 100 positions, monthly payouts, chasing total return with income alongside.

OGSP A boutique active take on investment-grade structured credit: asset-backed bonds, CLOs and mortgage deals bought one at a time, with no index to hug. The prospectus calls it a go-anywhere fund within structured products, and it pays monthly.

Stated mandate

DABS The Fund seeks long-term total return while also striving to generate current income.

OGSP The Fund is actively managed and seeks income; the prospectus's investment-objective table also states capital appreciation.

Why people hold it

DABS The mandate is plainly stated: long-term total return while also striving to generate current income, expressed through roughly 100 securitized positions rather than a broad index sweep.doubleline.com
At 0.40%, it prices right at the median for its bond peer group and level with SECU, one of the stronger-standing securitized funds in that group.
Distributions land monthly, matching the rhythm of the loan pools underneath.
The bond-by-bond lineup is the strongest part of the package, and the fund sits in the upper half of its bond cohort overall.

OGSP Actively managed with no index to track, and the prospectus sets a floor: at least 80% of net assets in high grade structured products.sec.gov
One mandate spans ABS, CLOs, CDOs, CMOs, and agency and non-agency mortgage bonds including CMBS and RMBS, chosen deal by deal rather than by index weight.sec.gov
Pays monthly, and spreads the work across roughly 150 separate deals instead of a handful of big bets.

Worth knowing

DABS Launched in 2025, so the history is thin. There is little track record showing how the portfolio behaves through a full credit cycle.
Thinly traded on a modest asset base, so the gap between the price you get and the portfolio's value can be wider than at a giant bond fund.
No index sits behind it. Results ride on the manager's security selection, and the 0.40% fee is the price of that judgment.doubleline.com

OGSP Cost is the trade-off: 0.64% net of a waiver through July 31, 2027, against a 1.69% gross, and above the category median plus peers like WDE (0.19%) and NSCI (0.38%).
A small fund that trades lightly, so the bid-ask spread is part of the real cost of getting in and out.
"High grade" describes the 80% test, not every line item: the prospectus flags structured products risk and allows holdings rated below investment grade.sec.gov sec.gov 2

Full DABS profile⁠

Full OGSP profile⁠

DABS vs OGSP Holdings

How DABS and OGSP differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile82.8%
Asset classFixed Income100%

Sector

No Sector split for DABS and OGSP.

Country, concentration and asset class

Country by domicile

Country weights in DABS and OGSP, widest gap first
Country	More in DABSMore in OGSP	DABS	OGSP
Cayman Islands	OGSP +15.2 points	5.5%	20.7%
United States	DABS +13.6 points	90.9%	77.3%
Ireland	DABS +3.6 points	3.6%	0.0%
United Kingdom	OGSP +1.3 points	0.0%	1.3%
Japan	OGSP +0.7 points	0.0%	0.7%

Outside the US: OGSP 9% developed, 91% emerging.

Concentration

Weight in the 10 largest Holdings

DABS17.8%
OGSP20.4%

Securities held

DABS156
OGSP161

Asset class

DABS: Fixed Income
OGSP: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. DABS holds 156 securities, OGSP 161.

All 98 DABS holdings⁠All 162 OGSP holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

DABS vs OGSP Cost

Overpaying OGSP vs DABS

$4,448

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

DABS 0.40%
$8,090
OGSP 0.64%
$12,538

Amount$10,000

Years30 years

Cost over time

DABS 0.40%
OGSP 0.64%
Overpaying

Year by year

Year	DABS	OGSP	Overpaying
10	$723	$1,145	$422
20	$2,793	$4,375	$1,582
30	$8,090	$12,538	$4,448

Expense ratio

0.40%DABS, cheaper
0.64%OGSP

DABS0.40%OGSP0.64%

0.19%0.64%

Middle half of Multi-Sector Securitized Bond funds
Median 0.39%

DABS 7th cheapest of 11 funds

OGSP 10th cheapest of 11 funds

DABS vs OGSP Dividends

Last 12 months to Nov 2, 2026

Yield (12M): DABS 5.35%; OGSP 5.88%, better
Payout (12M): DABS $2.66; OGSP $0.58
Last payment: DABS $0.21; OGSP $0.05
Ex-dividend: DABS Nov 2, 2026; OGSP Oct 29, 2026
Paid on: DABS Pays Nov 6, 2026; OGSP Oct 30, 2026
Frequency: DABS Monthly; OGSP Monthly

Distribution history

Per share, 2024 to 2026, same scale for both

DABSMonthly · 20 paymentsAll DABS payments⁠

OGSPMonthly · 29 paymentsAll OGSP payments⁠

DABS vs OGSP Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: DABS 1.9%since Apr 2025OGSP 1.0%since May 2024
Return per unit of riskSharpe ratio, 3 years: DABS 0.27since Apr 2025OGSP 1.63since May 2024
Worst fallMax drawdown, 5 years: DABS −1.4%since Mar 2025OGSP −0.8%since Apr 2024
Market sensitivityBeta, 5 years: DABS 0.05OGSP 0.03; Market = 1

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