TRBF vs. AOHY

Last updated Jun 25, 2026

TRBF (Angel Oak Total Return ETF) and AOHY (Angel Oak High Yield Opportunities ETF) are both exchange-traded funds - TRBF is a Intermediate Core-Plus Bond fund actively managed by Angel Oak, while AOHY is a High Yield Bonds fund actively managed by Angel Oak. Both are actively managed. At a 0.48 correlation, their price movements are largely independent. TRBF charges 0.44%/yr vs 0.55%/yr for AOHY.

Performance

TRBF vs. AOHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Angel Oak Total Return ETF (TRBF) and Angel Oak High Yield Opportunities ETF (AOHY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TRBF achieves a 1.35% return, which is significantly lower than AOHY's 2.38% return.

TRBF

• 1D: 0.53%
• 1M: 1.34%
• YTD: 1.35%
• 6M: 1.05%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AOHY

• 1D: 0.09%
• 1M: 0.53%
• YTD: 2.38%
• 6M: 2.37%
• 1Y: 6.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TRBF vs. AOHY - Yearly Performance Comparison

	2026 (YTD)	2025
TRBF Angel Oak Total Return ETF	1.35%	0.94%
AOHY Angel Oak High Yield Opportunities ETF	2.38%	0.92%

Correlation

The correlation between TRBF and AOHY is 0.48, 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 Oct 7, 2025	0.48

Return for Risk

TRBF vs. AOHY — Risk / Return Rank

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

TRBF

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

AOHY

AOHY Risk / Return Rank: 72
AOHY Sharpe Ratio Rank: 69
AOHY Sortino Ratio Rank: 75
AOHY Omega Ratio Rank: 76
AOHY Calmar Ratio Rank: 60
AOHY Martin Ratio Rank: 77

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.

TRBF vs. AOHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Angel Oak Total Return ETF (TRBF) and Angel Oak High Yield Opportunities ETF (AOHY). 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.

	TRBF	AOHY	Difference
Sharpe ratio: Return per unit of total volatility	—	1.96	—
Sortino ratio: Return per unit of downside risk	—	2.96	—
Omega ratio: Gain probability vs. loss probability	—	1.39	—
Calmar ratio: Return relative to maximum drawdown	—	2.61	—
Martin ratio: Return relative to average drawdown	—	13.07	—

Drawdowns

TRBF vs. AOHY - Drawdown Comparison

The maximum TRBF drawdown since its inception was -2.59%, smaller than the maximum AOHY drawdown of -4.17%. Use the drawdown chart below to compare losses from any high point for TRBF and AOHY.

Drawdown Indicators

	TRBF	AOHY	Difference
Max Drawdown Largest peak-to-trough decline	-2.59%	-4.17%	+1.58%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.37%	—
Current Drawdown Current decline from peak	-0.67%	-0.23%	-0.44%
Average Drawdown Average peak-to-trough decline	-0.83%	-0.35%	-0.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.47%	—

Volatility

Volatility by Period

	TRBF	AOHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.73%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.53%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.77%	3.17%	+0.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.77%	3.76%	+0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.77%	3.76%	+0.01%

TRBF vs. AOHY - Expense Ratio Comparison

TRBF has a 0.44% expense ratio, which is lower than AOHY's 0.55% expense ratio.

Dividends

TRBF vs. AOHY - Dividend Comparison

TRBF's dividend yield for the trailing twelve months is around 3.12%, less than AOHY's 6.50% yield.

Position	TTM	2025	2024
AOHY Angel Oak High Yield Opportunities ETF	6.50%	6.53%	6.04%
TRBF Angel Oak Total Return ETF	3.12%	1.16%	0.00%

Frequently Asked Questions

Can I hold both TRBF and AOHY in my portfolio?

TRBF and AOHY have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TRBF or AOHY?

On fees, TRBF is cheaper at 0.44% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TRBF or AOHY?

TRBF is cheaper with a 0.44% expense ratio, compared with 0.55% for AOHY.

Which ETF pays a higher dividend yield, TRBF or AOHY?

AOHY has the higher dividend yield at 6.50%, compared with 3.12% for TRBF.

What is the main difference between TRBF and AOHY?

TRBF is categorized as Intermediate Core-Plus Bond, while AOHY is High Yield Bonds. Their fees differ too: 0.44% for TRBF and 0.55% for AOHY.