- CUSIP
- 03463K760
- Issuer
- Angel Oak
- Inception Date
- Nov 7, 2022
- Category
- Multisector Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $1B
Share Price Chart
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Performance
CARY Performance Chart
Angel Oak Income ETF (CARY) is up 2.0% since the beginning of the year. CARY is currently trading at $21 per share.
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Returns By Period
Angel Oak Income ETF (CARY) has returned 2.01% so far this year and 6.45% over the past 12 months.
Angel Oak Income ETF
- 1D
- -0.10%
- 1M
- 0.49%
- YTD
- 2.01%
- 6M
- 2.08%
- 1Y
- 6.45%
- 3Y*
- 7.33%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
CARY Monthly Returns History
Based on dividend-adjusted daily data since Nov 8, 2022, CARY's average daily return is +0.03%, while the average monthly return is +0.57%. At this rate, an investment would double in approximately 10.2 years.
Historically, 84% of months were positive and 16% were negative. The best month was Nov 2023 with a return of +2.1%, while the worst month was Oct 2024 at -1.5%. The longest winning streak lasted 14 consecutive months, and the longest losing streak was 1 months.
On a daily basis, CARY closed higher 55% of trading days. The best single day was Nov 14, 2023 with a return of +0.9%, while the worst single day was Dec 31, 2024 at -0.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.66% | 1.12% | -0.81% | 0.58% | 0.33% | 0.12% | 2.01% | ||||||
| 2025 | 0.58% | 1.43% | 0.13% | 0.24% | 0.06% | 1.39% | 0.22% | 1.09% | 0.80% | 0.44% | 0.63% | 0.30% | 7.54% |
| 2024 | 0.60% | 0.12% | 1.12% | -1.11% | 1.67% | 1.43% | 1.62% | 1.48% | 1.33% | -1.45% | 0.57% | -0.58% | 6.93% |
| 2023 | 1.59% | -0.68% | 1.12% | 0.63% | -0.12% | 0.64% | 0.86% | 0.86% | -0.42% | 0.06% | 2.07% | 1.80% | 8.70% |
| 2022 | 0.35% | 0.23% | 0.58% |
Benchmark Metrics
Angel Oak Income ETF has an annualized alpha of 6.77%, beta of 0.02, and R2 of 0.01 versus S&P 500 Index. Calculated based on daily prices since November 08, 2022.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (19.59%) than losses (1.71%) - typical of diversified or defensive assets.
- Beta of 0.02 may look defensive, but with R2 of 0.01 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.01 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 6.77%
- Beta
- 0.02
- R²
- 0.01
- Upside Capture
- 19.59%
- Downside Capture
- 1.71%
Expense Ratio
CARY has an expense ratio of 0.80%, placing it in the medium range.
Return for Risk
Risk / Return Rank
CARY ranks 94 for risk / return — in the top 94% of ETFs on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Angel Oak Income ETF (CARY) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CARY | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.56 | ||
| Sortino ratioReturn per unit of downside risk | +2.84 | ||
| Omega ratioGain probability vs. loss probability | 1.79 | 1.37 | +0.42 |
| Calmar ratioReturn relative to maximum drawdown | 5.07 | 2.78 | +2.28 |
| Martin ratioReturn relative to average drawdown | 21.83 | 12.44 | +9.39 |
Dividends
Dividend History
Angel Oak Income ETF provided a 5.92% dividend yield over the last twelve months, with an annual payout of $1.23 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Dividend | $1.23 | $1.28 | $1.26 | $1.30 | $0.10 |
Dividend yield | 5.92% | 6.13% | 6.10% | 6.38% | 0.48% |
Monthly Dividends
The table displays the monthly dividend distributions for Angel Oak Income ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.07 | $0.08 | $0.11 | $0.09 | $0.09 | $0.00 | $0.44 | ||||||
| 2025 | $0.09 | $0.09 | $0.09 | $0.11 | $0.10 | $0.10 | $0.11 | $0.09 | $0.13 | $0.10 | $0.09 | $0.18 | $1.28 |
| 2024 | $0.11 | $0.07 | $0.11 | $0.11 | $0.12 | $0.11 | $0.13 | $0.11 | $0.09 | $0.11 | $0.09 | $0.09 | $1.26 |
| 2023 | $0.00 | $0.10 | $0.12 | $0.12 | $0.11 | $0.12 | $0.11 | $0.11 | $0.08 | $0.09 | $0.12 | $0.22 | $1.30 |
| 2022 | $0.10 | $0.10 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Angel Oak Income ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Angel Oak Income ETF was 1.96%, occurring on Jan 14, 2025. Recovery took 28 trading sessions.
The current Angel Oak Income ETF drawdown is 0.19%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 pullback2025 | -1.96%Jan 2025 | 3mo 21d | 1mo 12d | 5mo 3dSep 2024 - Feb 2025 |
2024 pullback2024 | -1.31%Apr 2024 | 15d | 21d | 1mo 6dApr 2024 - May 2024 |
2026 pullback2026 | -1.28%Mar 2026 | 24d | 2mo 3d | 2mo 27dMar 2026 - May 2026 |
2025 selloff2025 | -1.15%Apr 2025 | 7d | 19d | 26dApr 2025 - Apr 2025 |
2023 pullback2023 | -1.08%Feb 2023 | 15d | 22d | 1mo 7dFeb 2023 - Mar 2023 |
Drawdown Indicators
| CARY | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.96% | -56.78% | +54.82% |
Max Drawdown (1Y)Largest decline over 1 year | -1.28% | -9.10% | +7.82% |
Max Drawdown (3Y)Largest decline over 3 years | -1.96% | -18.90% | +16.94% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.19% | -1.80% | +1.61% |
Average DrawdownAverage peak-to-trough decline | -0.32% | -10.71% | +10.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.30% | 2.03% | -1.73% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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