OOSP vs. XAGG

Last updated Jun 24, 2026

OOSP (Obra Opportunistic Structured Products ETF) and XAGG (Eaton Vance Income Opportunities ETF) are both Multisector Bonds funds. Both are actively managed. At a 0.19 correlation, their price movements are largely independent. OOSP charges 0.90%/yr vs 0.50%/yr for XAGG.

Performance

OOSP vs. XAGG - Performance Comparison

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

Returns By Period

In the year-to-date period, OOSP achieves a 2.66% return, which is significantly higher than XAGG's 2.01% return.

OOSP

• 1D: 0.00%
• 1M: 0.36%
• YTD: 2.66%
• 6M: 2.82%
• 1Y: 6.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XAGG

• 1D: -0.21%
• 1M: 0.45%
• YTD: 2.01%
• 6M: 2.07%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OOSP vs. XAGG - Yearly Performance Comparison

	2026 (YTD)	2025
OOSP Obra Opportunistic Structured Products ETF	2.66%	0.99%
XAGG Eaton Vance Income Opportunities ETF	2.01%	1.75%

Correlation

The correlation between OOSP and XAGG is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 10, 2025	0.19

Return for Risk

OOSP vs. XAGG — Risk / Return Rank

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

OOSP

OOSP Risk / Return Rank: 72
OOSP Sharpe Ratio Rank: 57
OOSP Sortino Ratio Rank: 59
OOSP Omega Ratio Rank: 67
OOSP Calmar Ratio Rank: 89
OOSP Martin Ratio Rank: 88

XAGG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. XAGG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Obra Opportunistic Structured Products ETF (OOSP) and Eaton Vance Income Opportunities ETF (XAGG). 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	XAGG	Difference
Sharpe ratio: Return per unit of total volatility	1.79	—	—
Sortino ratio: Return per unit of downside risk	2.60	—	—
Omega ratio: Gain probability vs. loss probability	1.38	—	—
Calmar ratio: Return relative to maximum drawdown	4.97	—	—
Martin ratio: Return relative to average drawdown	18.41	—	—

Drawdowns

OOSP vs. XAGG - Drawdown Comparison

The maximum OOSP drawdown since its inception was -1.31%, smaller than the maximum XAGG drawdown of -2.88%. Use the drawdown chart below to compare losses from any high point for OOSP and XAGG.

Drawdown Indicators

	OOSP	XAGG	Difference
Max Drawdown Largest peak-to-trough decline	-1.31%	-2.88%	+1.57%
Max Drawdown (1Y) Largest decline over 1 year	-1.31%	—	—
Current Drawdown Current decline from peak	0.00%	-0.60%	+0.60%
Average Drawdown Average peak-to-trough decline	-0.20%	-0.56%	+0.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.35%	—	—

Volatility

Volatility by Period

	OOSP	XAGG	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.39%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.17%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.65%	3.51%	+0.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.32%	3.51%	-0.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.32%	3.51%	-0.19%

OOSP vs. XAGG - Expense Ratio Comparison

OOSP has a 0.90% expense ratio, which is higher than XAGG's 0.50% expense ratio.

Dividends

OOSP vs. XAGG - Dividend Comparison

OOSP's dividend yield for the trailing twelve months is around 6.45%, more than XAGG's 3.86% yield.

Position	TTM	2025	2024
OOSP Obra Opportunistic Structured Products ETF	6.45%	6.71%	5.42%
XAGG Eaton Vance Income Opportunities ETF	3.86%	1.02%	0.00%

Frequently Asked Questions

Can I hold both OOSP and XAGG in my portfolio?

OOSP and XAGG have a correlation of 0.19, 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 XAGG?

On fees, XAGG is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, OOSP or XAGG?

XAGG is cheaper with a 0.50% expense ratio, compared with 0.90% for OOSP.

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

OOSP has the higher dividend yield at 6.45%, compared with 3.86% for XAGG.

What is the main difference between OOSP and XAGG?

They also come from different issuers: Obra and Eaton Vance. Their fees differ too: 0.90% for OOSP and 0.50% for XAGG.