USFI vs. AFOS

Last updated Jul 10, 2026

USFI (BrandywineGLOBAL - U.S. Fixed Income ETF) and AFOS (ARS Focused Opportunities Strategy ETF) are both exchange-traded funds - USFI is a Actively Managed fund actively managed by BrandywineGLOBAL, while AFOS is a Large Cap Blend Equities fund managed by ARS Investment Partners. Over the past year, USFI returned 4.92% vs 74.25% for AFOS. At a 0.10 correlation, their price movements are largely independent. USFI charges 0.39%/yr vs 0.45%/yr for AFOS.

Performance

USFI vs. AFOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BrandywineGLOBAL - U.S. Fixed Income ETF (USFI) and ARS Focused Opportunities Strategy ETF (AFOS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USFI achieves a 1.17% return, which is significantly lower than AFOS's 31.59% return.

USFI

• 1D: 0.20%
• 1M: 0.14%
• 6M: 1.09%
• YTD: 1.17%
• 1Y: 4.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AFOS

• 1D: 1.12%
• 1M: 4.27%
• 6M: 26.78%
• YTD: 31.59%
• 1Y: 74.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

USFI vs. AFOS - Yearly Performance Comparison

	2026 (YTD)	2025
USFI BrandywineGLOBAL - U.S. Fixed Income ETF	1.17%	3.74%
AFOS ARS Focused Opportunities Strategy ETF	31.59%	37.10%

Correlation

The correlation between USFI and AFOS is 0.09, 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 (1Y) Calculated over the trailing 1-year period	0.09
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.10

Return for Risk

USFI vs. AFOS — Risk / Return Rank

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

USFI

USFI Risk / Return Rank: 68
USFI Sharpe Ratio Rank: 55
USFI Sortino Ratio Rank: 65
USFI Omega Ratio Rank: 57
USFI Calmar Ratio Rank: 91
USFI Martin Ratio Rank: 75

AFOS

AFOS Risk / Return Rank: 95
AFOS Sharpe Ratio Rank: 96
AFOS Sortino Ratio Rank: 94
AFOS Omega Ratio Rank: 94
AFOS Calmar Ratio Rank: 95
AFOS Martin Ratio Rank: 96

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.

USFI vs. AFOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BrandywineGLOBAL - U.S. Fixed Income ETF (USFI) and ARS Focused Opportunities Strategy ETF (AFOS). 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.

	USFI	AFOS	Difference
Sharpe ratio: Return per unit of total volatility	1.50	3.39	-1.90
Sortino ratio: Return per unit of downside risk	2.40	4.08	-1.69
Omega ratio: Gain probability vs. loss probability	1.28	1.55	-0.26
Calmar ratio: Return relative to maximum drawdown	4.62	6.48	-1.87
Martin ratio: Return relative to average drawdown	11.07	28.69	-17.63

USFI vs. AFOS - Sharpe Ratio Comparison

The current USFI Sharpe Ratio is 1.50, which is lower than the AFOS Sharpe Ratio of 3.39. The chart below compares the historical Sharpe Ratios of USFI and AFOS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

USFI vs. AFOS - Drawdown Comparison

The maximum USFI drawdown since its inception was -8.47%, smaller than the maximum AFOS drawdown of -11.52%. Use the drawdown chart below to compare losses from any high point for USFI and AFOS.

Drawdown Indicators

	USFI	AFOS	Difference
Max Drawdown Largest peak-to-trough decline	-8.47%	-11.52%	+3.05%
Max Drawdown (1Y) Largest decline over 1 year	-1.07%	-11.52%	+10.45%
Current Drawdown Current decline from peak	-0.39%	-3.80%	+3.41%
Average Drawdown Average peak-to-trough decline	-2.09%	-1.51%	-0.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.45%	2.60%	-2.15%

Volatility

USFI vs. AFOS - Volatility Comparison

The current volatility for BrandywineGLOBAL - U.S. Fixed Income ETF (USFI) is 0.90%, while ARS Focused Opportunities Strategy ETF (AFOS) has a volatility of 9.29%. This indicates that USFI experiences smaller price fluctuations and is considered to be less risky than AFOS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USFI	AFOS	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.90%	9.29%	-8.39%
Volatility (6M) Calculated over the trailing 6-month period	1.61%	18.42%	-16.81%
Volatility (1Y) Calculated over the trailing 1-year period	3.36%	22.00%	-18.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.91%	21.74%	-14.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.91%	21.74%	-14.83%

USFI vs. AFOS - Expense Ratio Comparison

USFI has a 0.39% expense ratio, which is lower than AFOS's 0.45% expense ratio.

Dividends

USFI vs. AFOS - Dividend Comparison

USFI's dividend yield for the trailing twelve months is around 4.43%, more than AFOS's 0.23% yield.

Position	TTM	2025	2024	2023
AFOS ARS Focused Opportunities Strategy ETF	0.23%	0.30%	0.00%	0.00%
USFI BrandywineGLOBAL - U.S. Fixed Income ETF	4.43%	4.42%	4.60%	1.83%

Frequently Asked Questions

Can I hold both USFI and AFOS in my portfolio?

USFI and AFOS have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USFI or AFOS?

AFOS has higher volatility (9.29%) compared to USFI (0.90%). In terms of maximum drawdown, USFI dropped -8.47% vs AFOS's -11.52%.

Which ETF is better, USFI or AFOS?

On 1-year performance, AFOS leads with 74.25% vs 4.92% for USFI. On fees, USFI is cheaper at 0.39% per year. On volatility, USFI has been the lower-risk option at 0.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, USFI or AFOS?

Over the 1-year period, AFOS has performed better with a 74.25% return vs 4.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USFI or AFOS?

USFI is cheaper with a 0.39% expense ratio, compared with 0.45% for AFOS.

Which ETF pays a higher dividend yield, USFI or AFOS?

USFI has the higher dividend yield at 4.43%, compared with 0.23% for AFOS.

What is the main difference between USFI and AFOS?

USFI is categorized as Actively Managed, while AFOS is Large Cap Blend Equities. They also come from different issuers: BrandywineGLOBAL and ARS Investment Partners. Their fees differ too: 0.39% for USFI and 0.45% for AFOS.

Which has better risk-adjusted returns?

AFOS currently has the higher Sharpe Ratio (3.39 vs 1.50), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.