TRBF vs. JOYT

Last updated Jul 12, 2026

TRBF (Angel Oak Total Return ETF) and JOYT (JPMorgan Equity And Options Total Return ETF) are both exchange-traded funds - TRBF is a Intermediate Core-Plus Bond fund actively managed by Angel Oak, while JOYT is a Derivative Income fund actively managed by JPMorgan. Both are actively managed. At a 0.31 correlation, their price movements are largely independent. TRBF charges 0.44%/yr vs 0.35%/yr for JOYT.

Performance

TRBF vs. JOYT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Angel Oak Total Return ETF (TRBF) and JPMorgan Equity And Options Total Return ETF (JOYT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TRBF achieves a 0.72% return, which is significantly lower than JOYT's 6.57% return.

TRBF

• 1D: -0.06%
• 1M: -0.18%
• 6M: 0.70%
• YTD: 0.72%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

JOYT

• 1D: 0.51%
• 1M: 2.98%
• 6M: 5.06%
• YTD: 6.57%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TRBF vs. JOYT - Yearly Performance Comparison

	2026 (YTD)	2025
TRBF Angel Oak Total Return ETF	0.72%	0.94%
JOYT JPMorgan Equity And Options Total Return ETF	6.57%	5.04%

Correlation

The correlation between TRBF and JOYT is 0.31, 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	0.31

Return for Risk

TRBF vs. JOYT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Angel Oak Total Return ETF (TRBF) and JPMorgan Equity And Options Total Return ETF (JOYT). 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.

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

Drawdowns

TRBF vs. JOYT - Drawdown Comparison

The maximum TRBF drawdown since its inception was -2.59%, smaller than the maximum JOYT drawdown of -6.99%. Use the drawdown chart below to compare losses from any high point for TRBF and JOYT.

Drawdown Indicators

	TRBF	JOYT	Difference
Max Drawdown Largest peak-to-trough decline	-2.59%	-6.99%	+4.40%
Current Drawdown Current decline from peak	-1.29%	0.00%	-1.29%
Average Drawdown Average peak-to-trough decline	-0.83%	-0.88%	+0.05%

Volatility

Volatility by Period

	TRBF	JOYT	Difference
Volatility (1Y) Calculated over the trailing 1-year period	3.75%	9.66%	-5.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.75%	9.66%	-5.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.75%	9.66%	-5.91%

TRBF vs. JOYT - Expense Ratio Comparison

TRBF has a 0.44% expense ratio, which is higher than JOYT's 0.35% expense ratio.

Dividends

TRBF vs. JOYT - Dividend Comparison

TRBF's dividend yield for the trailing twelve months is around 3.59%, more than JOYT's 0.62% yield.

Position	TTM	2025
JOYT JPMorgan Equity And Options Total Return ETF	0.62%	0.28%
TRBF Angel Oak Total Return ETF	3.59%	1.16%

Frequently Asked Questions

Can I hold both TRBF and JOYT in my portfolio?

TRBF and JOYT have a correlation of 0.31, 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 JOYT?

On fees, JOYT is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TRBF or JOYT?

JOYT is cheaper with a 0.35% expense ratio, compared with 0.44% for TRBF.

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

TRBF has the higher dividend yield at 3.59%, compared with 0.62% for JOYT.

What is the main difference between TRBF and JOYT?

TRBF is categorized as Intermediate Core-Plus Bond, while JOYT is Derivative Income. They also come from different issuers: Angel Oak and JPMorgan. Their fees differ too: 0.44% for TRBF and 0.35% for JOYT.