OOSP vs. CARY

Last updated Apr 1, 2026

Compare and contrast key facts about Obra Opportunistic Structured Products ETF (OOSP) and Angel Oak Income ETF (CARY).

OOSP and CARY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. OOSP is an actively managed fund by Obra. It was launched on Apr 8, 2024. CARY is an actively managed fund by Angel Oak. It was launched on Nov 7, 2022.

Performance

OOSP vs. CARY - Performance Comparison

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

OOSP vs. CARY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
OOSP Obra Opportunistic Structured Products ETF	0.96%	7.41%	0.23%
CARY Angel Oak Income ETF	0.97%	7.54%	-0.74%

Returns By Period

The year-to-date returns for both investments are quite close, with OOSP having a 0.96% return and CARY slightly higher at 0.97%.

OOSP

• 1D: 0.05%
• 1M: -0.41%
• YTD: 0.96%
• 6M: 2.56%
• 1Y: 6.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CARY

• 1D: 0.36%
• 1M: -0.81%
• YTD: 0.97%
• 6M: 2.36%
• 1Y: 6.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OOSP vs. CARY - Expense Ratio Comparison

OOSP has a 0.90% expense ratio, which is higher than CARY's 0.80% expense ratio.

OOSP

Obra Opportunistic Structured Products ETF

CARY

Angel Oak Income ETF

Return for Risk

OOSP vs. CARY — Risk / Return Rank

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

OOSP

OOSP Risk / Return Rank: 89
OOSP Sharpe Ratio Rank: 83
OOSP Sortino Ratio Rank: 85
OOSP Omega Ratio Rank: 86
OOSP Calmar Ratio Rank: 96
OOSP Martin Ratio Rank: 94

CARY

CARY Risk / Return Rank: 97
CARY Sharpe Ratio Rank: 98
CARY Sortino Ratio Rank: 98
CARY Omega Ratio Rank: 98
CARY Calmar Ratio Rank: 97
CARY Martin Ratio Rank: 97

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.

OOSP vs. CARY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Obra Opportunistic Structured Products ETF (OOSP) and Angel Oak Income ETF (CARY). 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.

	OOSP	CARY	Difference
Sharpe ratio Return per unit of total volatility	1.58	3.09	-1.51
Sortino ratio Return per unit of downside risk	2.27	4.52	-2.25
Omega ratio Gain probability vs. loss probability	1.34	1.67	-0.33
Calmar ratio Return relative to maximum drawdown	4.67	5.08	-0.41
Martin ratio Return relative to average drawdown	14.23	19.05	-4.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OOSP vs. CARY - Sharpe Ratio Comparison

The current OOSP Sharpe Ratio is 1.58, which is lower than the CARY Sharpe Ratio of 3.09. The chart below compares the historical Sharpe Ratios of OOSP and CARY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	OOSP	CARY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.58	3.09	-1.51
Sharpe Ratio (All Time) Calculated using the full available price history	2.28	2.83	-0.55

Correlation

The correlation between OOSP and CARY is 0.08, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

OOSP vs. CARY - Dividend Comparison

OOSP's dividend yield for the trailing twelve months is around 6.58%, more than CARY's 6.07% yield.

	TTM	2025	2024
OOSP Obra Opportunistic Structured Products ETF	6.58%	6.71%	5.42%
CARY Angel Oak Income ETF	6.07%	6.13%	0.42%

Drawdowns

OOSP vs. CARY - Drawdown Comparison

The maximum OOSP drawdown since its inception was -1.31%, roughly equal to the maximum CARY drawdown of -1.28%. Use the drawdown chart below to compare losses from any high point for OOSP and CARY.

Drawdown Indicators

	OOSP	CARY	Difference
Max Drawdown Largest peak-to-trough decline	-1.31%	-1.28%	-0.03%
Max Drawdown (1Y) Largest decline over 1 year	-1.31%	-1.28%	-0.03%
Current Drawdown Current decline from peak	-0.65%	-0.83%	+0.18%
Average Drawdown Average peak-to-trough decline	-0.20%	-0.22%	+0.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.43%	0.34%	+0.09%

Volatility

OOSP vs. CARY - Volatility Comparison

The current volatility for Obra Opportunistic Structured Products ETF (OOSP) is 0.66%, while Angel Oak Income ETF (CARY) has a volatility of 0.89%. This indicates that OOSP experiences smaller price fluctuations and is considered to be less risky than CARY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OOSP	CARY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.66%	0.89%	-0.23%
Volatility (6M) Calculated over the trailing 6-month period	2.80%	1.27%	+1.53%
Volatility (1Y) Calculated over the trailing 1-year period	4.08%	2.05%	+2.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.34%	2.18%	+1.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.34%	2.18%	+1.16%