AOUIX vs. ASCIX
AOUIX (Angel Oak UltraShort Income Fund) and ASCIX (Angel Oak Strategic Credit Fund) are both mutual funds - AOUIX is a Ultrashort Bond fund managed by Angel Oak, while ASCIX is a Nontraditional Bonds fund managed by Angel Oak. Over the past 5 years, AOUIX returned 3.29%/yr vs 7.30%/yr for ASCIX. Their 0.45 correlation means their historical movements had little consistent relationship. AOUIX charges 0.53%/yr vs 0.85%/yr for ASCIX.
Performance
AOUIX vs. ASCIX - Performance Comparison
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Returns By Period
In the year-to-date period, AOUIX achieves a 1.89% return, which is significantly lower than ASCIX's 2.99% return.
AOUIX
- 1D
- 0.00%
- 1M
- -0.10%
- 6M
- 1.55%
- YTD
- 1.89%
- 1Y
- 4.20%
- 3Y*
- 5.73%
- 5Y*
- 3.29%
- 10Y*
- —
- ALL TIME*
- 3.07%
ASCIX
- 1D
- -0.05%
- 1M
- -0.29%
- 6M
- 2.20%
- YTD
- 2.99%
- 1Y
- 5.39%
- 3Y*
- 8.87%
- 5Y*
- 7.30%
- 10Y*
- —
- ALL TIME*
- 6.48%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
AOUIX vs. ASCIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
AOUIX Angel Oak UltraShort Income Fund | 1.89% | 5.63% | 7.06% | 6.21% | -4.11% | 0.97% | 1.99% | 4.07% | 2.25% |
ASCIX Angel Oak Strategic Credit Fund | 2.99% | 8.04% | 11.06% | 11.95% | -4.79% | 14.93% | 1.51% | 7.80% | 2.39% |
Correlation
The correlation between AOUIX and ASCIX is 0.57, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.57 |
Correlation (3Y) Balances recent behavior with more history. | 0.59 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.52 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2018 | 0.45 |
The correlation between AOUIX and ASCIX shifts across timeframes, from 0.45 (all time) to 0.59 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
AOUIX vs. ASCIX — Risk / Return Rank
AOUIX
ASCIX
AOUIX vs. ASCIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Angel Oak UltraShort Income Fund (AOUIX) and Angel Oak Strategic Credit Fund (ASCIX). 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.
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.
| AOUIX | ASCIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.05 | ||
| Sortino ratioReturn per unit of downside risk | +5.04 | ||
| Omega ratioGain probability vs. loss probability | 2.70 | 1.58 | +1.12 |
| Calmar ratioReturn relative to maximum drawdown | 11.80 | 4.41 | +7.39 |
| Martin ratioReturn relative to average drawdown | 52.21 | 12.31 | +39.90 |
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Drawdowns
AOUIX vs. ASCIX - Drawdown Comparison
The maximum AOUIX drawdown since its inception was -7.38%, smaller than the maximum ASCIX drawdown of -25.70%. Use the drawdown chart below to compare losses from any high point for AOUIX and ASCIX.
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Drawdown Indicators
| AOUIX | ASCIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.38% | -25.70% | +18.32% |
Max Drawdown (1Y)Largest decline over 1 year | -0.40% | -1.49% | +1.09% |
Max Drawdown (3Y)Largest decline over 3 years | -0.51% | -1.49% | +0.98% |
Max Drawdown (5Y)Largest decline over 5 years | -4.53% | -7.54% | +3.01% |
Current DrawdownCurrent decline from peak | -0.10% | -0.34% | +0.24% |
Average DrawdownAverage peak-to-trough decline | -0.59% | -1.84% | +1.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.09% | 0.53% | -0.44% |
Volatility
AOUIX vs. ASCIX - Volatility Comparison
The current volatility for Angel Oak UltraShort Income Fund (AOUIX) is 0.27%, while Angel Oak Strategic Credit Fund (ASCIX) has a volatility of 0.35%. This indicates that AOUIX experiences smaller price fluctuations and is considered to be less risky than ASCIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AOUIX | ASCIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.27% | 0.35% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 1.06% | 1.98% | -0.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.56% | 3.30% | -1.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.54% | 3.51% | -1.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.92% | 5.37% | -3.45% |
AOUIX vs. ASCIX - Expense Ratio Comparison
AOUIX has a 0.53% expense ratio, which is lower than ASCIX's 0.85% expense ratio.
Dividends
AOUIX vs. ASCIX - Dividend Comparison
AOUIX's dividend yield for the trailing twelve months is around 4.32%, less than ASCIX's 7.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
AOUIX Angel Oak UltraShort Income Fund | 4.32% | 5.05% | 5.36% | 3.69% | 1.48% | 1.37% | 2.24% | 3.08% | 2.12% |
ASCIX Angel Oak Strategic Credit Fund | 7.76% | 8.55% | 8.76% | 8.40% | 8.04% | 13.64% | 8.74% | 6.97% | 6.14% |
Frequently Asked Questions
AOUIX and ASCIX have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ASCIX has higher volatility (0.35%) compared to AOUIX (0.27%). In terms of maximum drawdown, AOUIX dropped -7.38% vs ASCIX's -25.70%.
AOUIX currently has the higher Sharpe Ratio (3.05 vs 2.00), 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.
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