OOSP vs. VGMS

Last updated Jun 4, 2026

OOSP (Obra Opportunistic Structured Products ETF) and VGMS (Vanguard Multi-Sector Income Bond ETF) are both Multisector Bonds funds. Both are actively managed. At a 0.05 correlation, their price movements are largely independent. OOSP charges 0.90%/yr vs 0.30%/yr for VGMS.

Performance

OOSP vs. VGMS - Performance Comparison

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

Returns By Period

In the year-to-date period, OOSP achieves a 2.41% return, which is significantly higher than VGMS's 1.06% return.

OOSP

• 1D: 0.00%
• 1M: 0.91%
• YTD: 2.41%
• 6M: 2.51%
• 1Y: 6.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VGMS

• 1D: -0.36%
• 1M: 0.29%
• YTD: 1.06%
• 6M: 1.35%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OOSP vs. VGMS - Yearly Performance Comparison

	2026 (YTD)	2025
OOSP Obra Opportunistic Structured Products ETF	2.41%	4.09%
VGMS Vanguard Multi-Sector Income Bond ETF	1.06%	5.44%

Correlation

The correlation between OOSP and VGMS is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 12, 2025	0.05

Return for Risk

OOSP vs. VGMS — Risk / Return Rank

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

OOSP

OOSP Risk / Return Rank: 68
OOSP Sharpe Ratio Rank: 52
OOSP Sortino Ratio Rank: 54
OOSP Omega Ratio Rank: 61
OOSP Calmar Ratio Rank: 88
OOSP Martin Ratio Rank: 87

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. VGMS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Obra Opportunistic Structured Products ETF (OOSP) and Vanguard Multi-Sector Income Bond ETF (VGMS). 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	VGMS	Difference
Sharpe ratio: Return per unit of total volatility	1.82	—	—
Sortino ratio: Return per unit of downside risk	2.64	—	—
Omega ratio: Gain probability vs. loss probability	1.38	—	—
Calmar ratio: Return relative to maximum drawdown	5.13	—	—
Martin ratio: Return relative to average drawdown	19.01	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	OOSP	VGMS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.82	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.29	2.11	+0.18

Drawdowns

OOSP vs. VGMS - Drawdown Comparison

The maximum OOSP drawdown since its inception was -1.31%, smaller than the maximum VGMS drawdown of -2.46%. Use the drawdown chart below to compare losses from any high point for OOSP and VGMS.

Drawdown Indicators

	OOSP	VGMS	Difference
Max Drawdown Largest peak-to-trough decline	-1.31%	-2.46%	+1.15%
Max Drawdown (1Y) Largest decline over 1 year	-1.31%	—	—
Current Drawdown Current decline from peak	-0.18%	-0.39%	+0.21%
Average Drawdown Average peak-to-trough decline	-0.20%	-0.31%	+0.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.35%	—	—

Volatility

Volatility by Period

	OOSP	VGMS	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.23%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.23%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.71%	3.21%	+0.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.35%	3.21%	+0.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.35%	3.21%	+0.14%

OOSP vs. VGMS - Expense Ratio Comparison

OOSP has a 0.90% expense ratio, which is higher than VGMS's 0.30% expense ratio.

Dividends

OOSP vs. VGMS - Dividend Comparison

OOSP's dividend yield for the trailing twelve months is around 6.47%, more than VGMS's 5.16% yield.

Position	TTM	2025	2024
OOSP Obra Opportunistic Structured Products ETF	6.47%	6.71%	5.42%
VGMS Vanguard Multi-Sector Income Bond ETF	5.16%	2.94%	0.00%

Frequently Asked Questions

Can I hold both OOSP and VGMS in my portfolio?

OOSP and VGMS have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, OOSP or VGMS?

On fees, VGMS is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, OOSP or VGMS?

VGMS is cheaper with a 0.30% expense ratio, compared with 0.90% for OOSP.

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

OOSP has the higher dividend yield at 6.47%, compared with 5.16% for VGMS.

What is the main difference between OOSP and VGMS?

They also come from different issuers: Obra and Vanguard. Their fees differ too: 0.90% for OOSP and 0.30% for VGMS.