Distribution Yield: The distribution yield is calculated by annualizing actual dividends distributed for the monthly period ended on the date shown and dividing by the net asset value on the last business day for the same period. The yield does not include long-or short-term capital gains distributions.
Duration: Measures a portfolio’s sensitivity to changes in interest rates. Generally, the longer the duration, the greater the price change relative to interest rate movements.
Tranche: A portion of debt or structured financing. Each portion, or tranche, is one of several related securities offered at the same time but with different, rewards, and maturities.
Net Total Returns (as of 06/30/19)
Bloomberg Barclays US Aggregate Bond Index
Morningstar Ultrashort Bond Category
1The inception date of the Angel Oak UltraShort Income Fund I Class (AOUIX) was 4/2/18.
Performance quoted is past performance and is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data shown. Current performance for the most recent month-end can be obtained by calling 855-751-4324 or by visiting www.angeloakcapital.com.
You are now leaving the Angel Oak Capital and Angel Oak Funds website. Any views expressed on the site you are about to visit, or any articles or interviews therein are those of the participants and are not intended as a forecast or as investment recommendations. Information provided with respect to the Fund’s Portfolio Holdings, Sector Weightings, Number of Holdings, Performance and Expense Ratios are as of the dates described in the article and are subject to change at any time.
Performance data current to the most recent month-end and quarter-end can be obtained by clicking the links above.
Past performance is no guarantee of future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than what is stated.
Mutual fund investing involves risk. Principal loss is possible. The Funds can make short sales of securities, which involves the risk that losses in securities may exceed the original amount invested. Leverage, which may exaggerate the effect of any increase or decrease in the value of securities in a Fund’s portfolio on the Fund’s Net Asset Value and therefore may increase the volatility of a Fund. Investments in foreign securities involve greater volatility and political, economic and currency risks and differences in accounting methods. These risks are increased for emerging markets. Investments in fixed income instruments typically decrease in value when interest rates rise. Derivatives involve risks different from and, in certain cases, greater than the risks presented by more traditional investments. Investments in asset backed and mortgage‐backed securities include additional risks that investors should be aware of, such as credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments. Investments in lower‐rated and nonrated securities presents a greater risk of loss to principal and interest than higher‐rated securities. A non‐diversified fund, may be more susceptible to being adversely affected by a single corporate, economic, political or regulatory occurrence than a diversified fund. Funds will incur higher and duplicative costs when it invests in mutual funds, ETFs and other investment companies. There is also the risk that the Funds may suffer losses due to the investment practices of the underlying funds. For more information on these risks and other risks of the Funds, please see the Prospectus.
There is no guarantee that this or any investment strategy will succeed; the strategy is not an indicator of future performance; and investment results may vary.
Definitions: Correlation: A statistical measure of how two securities move in relation to another. Index used for comparison is the Barclays U.S. Aggregate Bond Index. Duration: A measure of the sensitivity of the price (the value of principal) of a fixed-income investment to a change in interest rates.
1Q 2019 High Yield Opportunities Fund Investor Call Replay Definitions: C&I: Commercial & Industrial. ECB: European Central Bank. M&A: Mergers and Acquisitions. OPEC: Organization of Petroleum Exporting Countries. Basis Point (bps): One hundredth of one percent and is used to denote the percentage change in a financial instrument. ICE BofA Merrill Lynch U.S. IG Corporate Bond Index: Tracks the performance of U.S. dollar denominated investment-grade corporate debt publicly issued in the U.S. domestic market. Qualifying securities must have an investment-grade rating (based on an average of Moody’s, S&P, and Fitch), at least 18 months to final maturity at the time of issuance, at least one year remaining term to final maturity as of the rebalancing date, a fixed coupon schedule, and a minimum amount outstanding of $250 million. Return on Equity: A measure of financial performance calculated by dividing net income by shareholders’ equity. Free Cash Flow: Represents the cash a company produces through its operations, less the cost of expenditures on assets.
Morningstar Rankings represent a fund’s total-return percentile rank relative to all funds that have the same Morningstar Category. The highest percentile rank is 1 and the lowest is 100. It is based on Morningstar total return, which includes both income and capital gains or losses and is not adjusted for sales charges or redemption fees. Morningstar ranked ANHIX in the top 35, 11, 5 & 70 out of 700, 610, 519 & 332 funds for the 1, 3, 5 & 10 year periods as of 3/31/19. Past performance does not guarantee future results.
1Q 2019 Multi-Strategy Income Fund Investor Call Replay Definitions: Basis Point (bps): One hundredth of one percent and is used to denote the percentage change in a financial instrument. LIBOR: A benchmark rate that some of the world’s leading banks charge each other for short-term loans. It stands for Intercontinental Exchange London Interbank Offered Rate and serves as the first step to calculating interest rates on various loans throughout the world. QM: Qualified mortgage.
1Q 2019 UltraShort Income Fund Investor Call Replay Definitions: Beta: A measure of a stock’s risk of volatility compared to the overall market. Cash Flow: Periodic coupons received by the bondholder during their holding period. FOMC: Federal Open Market Committee.
1Q 2019 Financials Income Fund Investor Call Replay Morningstar Rankings represent a fund’s total-return rank relative to all funds that have the same Morningstar Category. The highest rank is 1 and the lowest is based on the total number of funds ranked in the category. It is based on Morningstar total return, which includes both income and capital gains or losses and is not adjusted for sales charges or redemption fees. Morningstar ranked ANFIX 186 out of 250 Corporate Bond funds for the 1 year period as of 3/31/19. Past performance does not guarantee future results.
References to other mutual funds should not be interpreted as an offer of these securities.
Fund holdings and allocations are subject to change at any time and should not be considered a recommendation to buy or sell any security.
Diversification does not guarantee a profit or protect from loss in a declining market.
Indexed annuities are complex, not suitable for all investors, and due to surrender charges it is possible to lose money.
Upside potential may be limited due to participation rates.
The Angel Oak Funds are distributed by Quasar Distributors, LLC.