UYLD vs. USDX

Last updated Aug 1, 2026

UYLD (Angel Oak Ultrashort Income ETF) and USDX (SGI Enhanced Core ETF) are both exchange-traded funds - UYLD is a Ultrashort Bond fund actively managed by Angel Oak, while USDX is a Intermediate Core Bond fund actively managed by Summit Global Investments. Both are actively managed. Over the past year, UYLD returned 4.96% vs 6.43% for USDX. Their 0.10 correlation means their historical movements had little consistent relationship. UYLD charges 0.34%/yr vs 0.98%/yr for USDX.

Performance

UYLD vs. USDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Angel Oak Ultrashort Income ETF (UYLD) and SGI Enhanced Core ETF (USDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UYLD achieves a 2.61% return, which is significantly lower than USDX's 2.99% return.

UYLD

• 1D: 0.04%
• 1M: 0.36%
• 6M: 2.22%
• YTD: 2.61%
• 1Y: 4.96%
• 3Y*: 5.79%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.87%

USDX

• 1D: 0.12%
• 1M: 0.65%
• 6M: 2.97%
• YTD: 2.99%
• 1Y: 6.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.69%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
USDX SGI Enhanced Core ETF	$1.08M	$1.35M	$1.41M
UYLD Angel Oak Ultrashort Income ETF	$6.00M	$7.92M	$9.46M

UYLD vs. USDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
UYLD Angel Oak Ultrashort Income ETF	2.61%	5.36%	4.99%
USDX SGI Enhanced Core ETF	2.99%	6.25%	6.87%

Correlation

The correlation between UYLD and USDX is 0.10, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.10
Correlation (All Time) Calculated using the full available price history since Feb 29, 2024	0.10

Return for Risk

UYLD vs. USDX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

UYLD

UYLD Risk / Return Rank: 99
UYLD Sharpe Ratio Rank: 99
UYLD Sortino Ratio Rank: 99
UYLD Omega Ratio Rank: 99
UYLD Calmar Ratio Rank: 99
UYLD Martin Ratio Rank: 99

USDX

USDX Risk / Return Rank: 97
USDX Sharpe Ratio Rank: 96
USDX Sortino Ratio Rank: 97
USDX Omega Ratio Rank: 97
USDX Calmar Ratio Rank: 97
USDX Martin Ratio Rank: 98

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

UYLD vs. USDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Angel Oak Ultrashort Income ETF (UYLD) and SGI Enhanced Core ETF (USDX). 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.

	UYLD	USDX	Difference
Sharpe ratio: Return per unit of total volatility	7.83	3.08	+4.75
Sortino ratio: Return per unit of downside risk	20.98	4.91	+16.07
Omega ratio: Gain probability vs. loss probability	4.26	1.75	+2.51
Calmar ratio: Return relative to maximum drawdown	36.45	6.89	+29.56
Martin ratio: Return relative to average drawdown	213.98	42.76	+171.22

UYLD vs. USDX - Sharpe Ratio Comparison

The current UYLD Sharpe Ratio is 7.83, which is higher than the USDX Sharpe Ratio of 3.08. The chart below compares the historical Sharpe Ratios of UYLD and USDX, 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

UYLD vs. USDX - Drawdown Comparison

The maximum UYLD drawdown since its inception was -0.54%, smaller than the maximum USDX drawdown of -0.94%. Use the drawdown chart below to compare losses from any high point for UYLD and USDX.

Drawdown Indicators

	UYLD	USDX	Difference
Max Drawdown Largest peak-to-trough decline	-0.54%	-0.94%	+0.40%
Max Drawdown (1Y) Largest decline over 1 year	-0.14%	-0.94%	+0.80%
Max Drawdown (3Y) Largest decline over 3 years	-0.54%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.03%	-0.07%	+0.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.02%	0.15%	-0.13%

Volatility

UYLD vs. USDX - Volatility Comparison

The current volatility for Angel Oak Ultrashort Income ETF (UYLD) is 0.13%, while SGI Enhanced Core ETF (USDX) has a volatility of 0.58%. This indicates that UYLD experiences smaller price fluctuations and is considered to be less risky than USDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UYLD	USDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.13%	0.58%	-0.45%
Volatility (6M) Calculated over the trailing 6-month period	0.51%	1.67%	-1.16%
Volatility (1Y) Calculated over the trailing 1-year period	0.64%	2.10%	-1.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.98%	1.76%	-0.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.98%	1.76%	-0.78%

UYLD vs. USDX - Expense Ratio Comparison

UYLD has a 0.34% expense ratio, which is lower than USDX's 0.98% expense ratio.

Dividends

UYLD vs. USDX - Dividend Comparison

UYLD's dividend yield for the trailing twelve months is around 4.94%, less than USDX's 6.66% yield.

Position	TTM	2025	2024	2023	2022
USDX SGI Enhanced Core ETF	6.66%	5.88%	4.60%	0.00%	0.00%
UYLD Angel Oak Ultrashort Income ETF	4.94%	5.07%	4.97%	5.92%	0.75%

Frequently Asked Questions

Can I hold both UYLD and USDX in my portfolio?

UYLD and USDX have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UYLD or USDX?

USDX has higher volatility (0.58%) compared to UYLD (0.13%). In terms of maximum drawdown, UYLD dropped -0.54% vs USDX's -0.94%.

Which ETF is better, UYLD or USDX?

On 1-year performance, USDX leads with 6.43% vs 4.96% for UYLD. On fees, UYLD is cheaper at 0.34% per year. On volatility, UYLD has been the lower-risk option at 0.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UYLD or USDX?

Over the 1-year period, USDX has performed better with a 6.43% return vs 4.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UYLD or USDX?

UYLD is cheaper with a 0.34% expense ratio, compared with 0.98% for USDX.

Which ETF pays a higher dividend yield, UYLD or USDX?

USDX has the higher dividend yield at 6.66%, compared with 4.94% for UYLD.

What is the main difference between UYLD and USDX?

UYLD is categorized as Ultrashort Bond, while USDX is Intermediate Core Bond. They also come from different issuers: Angel Oak and Summit Global Investments. Their fees differ too: 0.34% for UYLD and 0.98% for USDX.

Which has better risk-adjusted returns?

UYLD currently has the higher Sharpe Ratio (7.83 vs 3.08), 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.