OOSP vs. BLUI

Last updated Aug 2, 2026

OOSP (Obra Opportunistic Structured Products ETF) and BLUI (Bluemonte Diversified Income ETF) are both Multisector Bonds funds. Both are actively managed. Over the past year, OOSP returned 5.94% vs 7.13% for BLUI. Their -0.01 correlation means they have often moved in opposite directions in the past. OOSP charges 0.90%/yr vs 0.75%/yr for BLUI.

Performance

OOSP vs. BLUI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Obra Opportunistic Structured Products ETF (OOSP) and Bluemonte Diversified Income ETF (BLUI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OOSP achieves a 3.25% return, which is significantly lower than BLUI's 4.27% return.

OOSP

• 1D: 0.05%
• 1M: 0.26%
• 6M: 2.19%
• YTD: 3.25%
• 1Y: 5.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.39%

BLUI

• 1D: -0.08%
• 1M: 0.25%
• 6M: 2.95%
• YTD: 4.27%
• 1Y: 7.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.24%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BLUI Bluemonte Diversified Income ETF	$274.13K	$213.50K	$247.19K
OOSP Obra Opportunistic Structured Products ETF	$61.71K	$74.09K	$68.76K

OOSP vs. BLUI - Yearly Performance Comparison

	2026 (YTD)	2025
OOSP Obra Opportunistic Structured Products ETF	3.25%	3.94%
BLUI Bluemonte Diversified Income ETF	4.27%	3.60%

Correlation

The correlation between OOSP and BLUI is 0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.01
Correlation (All Time) Calculated using the full available price history since Jun 23, 2025	-0.01

Return for Risk

OOSP vs. BLUI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

OOSP

OOSP Risk / Return Rank: 83
OOSP Sharpe Ratio Rank: 72
OOSP Sortino Ratio Rank: 74
OOSP Omega Ratio Rank: 81
OOSP Calmar Ratio Rank: 94
OOSP Martin Ratio Rank: 93

BLUI

BLUI Risk / Return Rank: 84
BLUI Sharpe Ratio Rank: 82
BLUI Sortino Ratio Rank: 85
BLUI Omega Ratio Rank: 86
BLUI Calmar Ratio Rank: 81
BLUI Martin Ratio Rank: 88

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

OOSP vs. BLUI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Obra Opportunistic Structured Products ETF (OOSP) and Bluemonte Diversified Income ETF (BLUI). 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.

	OOSP	BLUI	Difference
Sharpe ratio: Return per unit of total volatility	1.64	1.92	-0.28
Sortino ratio: Return per unit of downside risk	2.39	2.86	-0.47
Omega ratio: Gain probability vs. loss probability	1.34	1.38	-0.04
Calmar ratio: Return relative to maximum drawdown	4.74	3.01	+1.74
Martin ratio: Return relative to average drawdown	17.26	13.18	+4.07

OOSP vs. BLUI - Sharpe Ratio Comparison

The current OOSP Sharpe Ratio is 1.64, which is comparable to the BLUI Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of OOSP and BLUI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

OOSP vs. BLUI - Drawdown Comparison

The maximum OOSP drawdown since its inception was -1.31%, smaller than the maximum BLUI drawdown of -2.43%. Use the drawdown chart below to compare losses from any high point for OOSP and BLUI.

Drawdown Indicators

	OOSP	BLUI	Difference
Max Drawdown Largest peak-to-trough decline	-1.31%	-2.43%	+1.12%
Max Drawdown (1Y) Largest decline over 1 year	-1.31%	-2.43%	+1.12%
Current Drawdown Current decline from peak	-0.08%	-0.21%	+0.13%
Average Drawdown Average peak-to-trough decline	-0.20%	-0.34%	+0.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.36%	0.55%	-0.19%

Volatility

OOSP vs. BLUI - Volatility Comparison

Obra Opportunistic Structured Products ETF (OOSP) has a higher volatility of 1.22% compared to Bluemonte Diversified Income ETF (BLUI) at 0.97%. This indicates that OOSP's price experiences larger fluctuations and is considered to be riskier than BLUI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OOSP	BLUI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.22%	0.97%	+0.25%
Volatility (6M) Calculated over the trailing 6-month period	2.36%	3.15%	-0.79%
Volatility (1Y) Calculated over the trailing 1-year period	3.79%	3.81%	-0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.36%	3.84%	-0.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.36%	3.84%	-0.48%

OOSP vs. BLUI - Expense Ratio Comparison

OOSP has a 0.90% expense ratio, which is higher than BLUI's 0.75% expense ratio.

Dividends

OOSP vs. BLUI - Dividend Comparison

OOSP's dividend yield for the trailing twelve months is around 6.40%, more than BLUI's 5.12% yield.

Position	TTM	2025	2024
BLUI Bluemonte Diversified Income ETF	5.12%	2.91%	0.00%
OOSP Obra Opportunistic Structured Products ETF	6.40%	6.71%	5.42%

Frequently Asked Questions

Can I hold both OOSP and BLUI in my portfolio?

OOSP and BLUI have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OOSP or BLUI?

OOSP has higher volatility (1.22%) compared to BLUI (0.97%). In terms of maximum drawdown, OOSP dropped -1.31% vs BLUI's -2.43%.

Which ETF is better, OOSP or BLUI?

On 1-year performance, BLUI leads with 7.13% vs 5.94% for OOSP. On fees, BLUI is cheaper at 0.75% per year. On volatility, BLUI has been the lower-risk option at 0.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OOSP or BLUI?

Over the 1-year period, BLUI has performed better with a 7.13% return vs 5.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OOSP or BLUI?

BLUI is cheaper with a 0.75% expense ratio, compared with 0.90% for OOSP.

Which ETF pays a higher dividend yield, OOSP or BLUI?

OOSP has the higher dividend yield at 6.40%, compared with 5.12% for BLUI.

What is the main difference between OOSP and BLUI?

They also come from different issuers: Obra and Bluemonte. Their fees differ too: 0.90% for OOSP and 0.75% for BLUI.

Which has better risk-adjusted returns?

BLUI currently has the higher Sharpe Ratio (1.92 vs 1.64), 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.