AOHY vs. THY

Last updated Jun 5, 2026

AOHY (Angel Oak High Yield Opportunities ETF) and THY (Agility Shares Dynamic Tactical Income ETF) are both High Yield Bonds funds. Both are actively managed. Over the past year, AOHY returned 7.05% vs 4.10% for THY. A 0.53 correlation means they provide meaningful diversification when combined. AOHY charges 0.55%/yr vs 1.36%/yr for THY.

Performance

AOHY vs. THY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Angel Oak High Yield Opportunities ETF (AOHY) and Agility Shares Dynamic Tactical Income ETF (THY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AOHY achieves a 2.21% return, which is significantly higher than THY's 0.62% return.

AOHY

• 1D: 0.06%
• 1M: 0.45%
• YTD: 2.21%
• 6M: 2.76%
• 1Y: 7.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

THY

• 1D: 0.17%
• 1M: -0.35%
• YTD: 0.62%
• 6M: 0.89%
• 1Y: 4.10%
• 3Y*: 5.33%
• 5Y*: 1.75%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AOHY vs. THY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AOHY Angel Oak High Yield Opportunities ETF	2.21%	7.62%	7.50%
THY Agility Shares Dynamic Tactical Income ETF	0.62%	4.44%	5.17%

Correlation

The correlation between AOHY and THY is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (All Time) Calculated using the full available price history since Feb 21, 2024	0.53

The correlation between AOHY and THY has been stable across timeframes, ranging from 0.53 to 0.60 - a consistent structural relationship.

AOHY vs. THY - Sectors Allocation Comparison

Sectors	AOHY	THY
Basic Materials	100.0%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	0.1%
Financial Services	-	99.9%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

AOHY vs. THY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AOHY

AOHY Risk / Return Rank: 73
AOHY Sharpe Ratio Rank: 69
AOHY Sortino Ratio Rank: 77
AOHY Omega Ratio Rank: 78
AOHY Calmar Ratio Rank: 61
AOHY Martin Ratio Rank: 79

THY

THY Risk / Return Rank: 43
THY Sharpe Ratio Rank: 40
THY Sortino Ratio Rank: 41
THY Omega Ratio Rank: 40
THY Calmar Ratio Rank: 53
THY Martin Ratio Rank: 40

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AOHY vs. THY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Angel Oak High Yield Opportunities ETF (AOHY) and Agility Shares Dynamic Tactical Income ETF (THY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AOHY	THY	Difference
Sharpe ratio: Return per unit of total volatility	2.23	1.40	+0.83
Sortino ratio: Return per unit of downside risk	3.42	2.08	+1.34
Omega ratio: Gain probability vs. loss probability	1.46	1.25	+0.20
Calmar ratio: Return relative to maximum drawdown	2.99	2.57	+0.42
Martin ratio: Return relative to average drawdown	15.09	6.24	+8.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AOHY vs. THY - Sharpe Ratio Comparison

The current AOHY Sharpe Ratio is 2.23, which is higher than the THY Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of AOHY and THY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AOHY	THY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.23	1.40	+0.83
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.39	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.02	0.49	+1.53

Drawdowns

AOHY vs. THY - Drawdown Comparison

The maximum AOHY drawdown since its inception was -4.17%, smaller than the maximum THY drawdown of -8.56%. Use the drawdown chart below to compare losses from any high point for AOHY and THY.

Drawdown Indicators

	AOHY	THY	Difference
Max Drawdown Largest peak-to-trough decline	-4.17%	-8.56%	+4.39%
Max Drawdown (1Y) Largest decline over 1 year	-2.37%	-1.60%	-0.77%
Max Drawdown (3Y) Largest decline over 3 years	—	-2.74%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-8.56%	—
Current Drawdown Current decline from peak	-0.21%	-0.66%	+0.45%
Average Drawdown Average peak-to-trough decline	-0.35%	-2.61%	+2.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.47%	0.66%	-0.19%

Volatility

AOHY vs. THY - Volatility Comparison

Angel Oak High Yield Opportunities ETF (AOHY) has a higher volatility of 0.99% compared to Agility Shares Dynamic Tactical Income ETF (THY) at 0.94%. This indicates that AOHY's price experiences larger fluctuations and is considered to be riskier than THY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AOHY	THY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.99%	0.94%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	2.50%	1.87%	+0.63%
Volatility (1Y) Calculated over the trailing 1-year period	3.18%	2.97%	+0.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.79%	4.55%	-0.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.79%	4.48%	-0.69%

AOHY vs. THY - Expense Ratio Comparison

AOHY has a 0.55% expense ratio, which is lower than THY's 1.36% expense ratio.

Dividends

AOHY vs. THY - Dividend Comparison

AOHY's dividend yield for the trailing twelve months is around 6.51%, more than THY's 5.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
AOHY Angel Oak High Yield Opportunities ETF	6.51%	6.53%	6.04%	0.00%	0.00%	0.00%	0.00%
THY Agility Shares Dynamic Tactical Income ETF	5.39%	6.00%	5.09%	4.59%	2.56%	3.46%	2.53%

Frequently Asked Questions

Can I hold both AOHY and THY in my portfolio?

AOHY and THY have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AOHY or THY?

AOHY has higher volatility (0.99%) compared to THY (0.94%). In terms of maximum drawdown, AOHY dropped -4.17% vs THY's -8.56%.

Which ETF is better, AOHY or THY?

On 1-year performance, AOHY leads with 7.05% vs 4.10% for THY. On fees, AOHY is cheaper at 0.55% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AOHY or THY?

Over the 1-year period, AOHY has performed better with a 7.05% return vs 4.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AOHY or THY?

AOHY is cheaper with a 0.55% expense ratio, compared with 1.36% for THY.

Which ETF pays a higher dividend yield, AOHY or THY?

AOHY has the higher dividend yield at 6.51%, compared with 5.39% for THY.

What is the main difference between AOHY and THY?

They also come from different issuers: Angel Oak and Toews Corp.. Their fees differ too: 0.55% for AOHY and 1.36% for THY.

Which has better risk-adjusted returns?

AOHY currently has the higher Sharpe Ratio (2.23 vs 1.40), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.