The Angel Oak High Yield Opportunities ETF (Fund) seeks to maximize long-term risk-adjusted returns relative to the market. The Fund is diversified and invests primarily in bonds rated below investment grade. The Fund may purchase bonds of any maturity and will normally have a maturity and duration profile in line with the high yield market.
Total Assets
$111.7M
As of 12/28/24High Yield Opportunities ETF
Overview
Objective
The Angel Oak High Yield Opportunities ETF seeks to earn a high level of current income with a secondary objective of capital appreciation.
Yields
| As of date | ||
|---|---|---|
| Daily Distribution Yield | 5.94% | 12/28/24 |
| 30-Day SEC Subsidized | 6.58% | 11/30/24 |
| 30-Day SEC Unsubsidized | 6.58% | 11/30/24 |
Fund Information
Gross and net expense ratios are reported as of the 5/30/24 prospectus.
Performance
Total Returns
The Angel Oak High Yield Opportunities ETF is the Successor Fund to the Angel Oak High Yield Opportunities Fund, which was reorganized into the ETF on 2/16/24. As a result of the conversion, the Fund adopted the accounting and performance history of its predecessor mutual fund which had an inception date of 3/31/09. The NAV returns shown prior to 2/16/24, reflect the NAV of the predecessor mutual fund’s Institutional shares. Performance for the mutual fund has not been adjusted to reflect the ETF’s expenses. Had the mutual fund been structured as an ETF, its performance may have differed. The ETF has the same investment objective and investment strategy as the mutual fund, and performance of the ETF may differ from that of the Fund.
The benchmark shown represents the Fund’s performance benchmark, which is different from the Fund’s regulatory benchmark. The Fund’s regulatory benchmark is the Bloomberg U.S. Aggregate Bond Index and is included in the Fund’s prospectus and/or shareholder report. This document can be obtained by visiting https://angeloakcapital.com/resources/.
Annual Returns
Performance data quoted represents past performance. 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. Short-term performance, in particular, is not a good indication of the Fund’s future performance and an investment should not be made based solely on returns. Performance is net of fees.
Fund Statistics
Historical Price
Premium / Discount
The inception date of the Angel Oak High Yield Opportunities ETF (AOHY) was 2/16/24.
Distributions
*Due to our annual tax review, there was additional earned income that was required to be paid out prior to the calendar year end.
Portfolio
Sector Breakdown
The portfolio is actively managed. Holdings and weightings are subject to change daily and are provided for informational purposes only and should not be deemed as a recommendation to buy or sell the securities mentioned. Fund composition is based on net assets. Please scroll down to see important information about the Fund.
Credit Quality
Unrated consists of corporate bonds that do not have ratings.
Ratings provided by S&P, Moody’s, Fitch, KBRA, DBRS Morningstar, Egan-Jones, and AM Best. Ratings are expressed as letters ranging from AAA, which is the highest grade, to D, which is the lowest grade. If the rating agencies rate a security differently, the adviser uses the highest rating. When a rating agency has not issued a formal rating, the adviser will classify the security as nonrated.
Fund Characteristics
Top 10 Holdings
Management Team
Sreeni Prabhu
Managing Partner, Co-CEO & Group Chief Investment Officer
Namit Sinha
Chief Investment Officer
Clayton Triick, CFA®
Head of Portfolio Management, Public Strategies
Ward Bortz
ETF Portfolio Manager and Head of Distribution for U.S. Wealth
Nichole Hammond, CFA®
Senior Portfolio Manager
Matthew Kennedy, CFA®
Senior Portfolio Manager
Berkin Kologlu
Senior Portfolio Manager
Recent Insights
3Q24 High Yield Opportunities ETF Commentary
Read commentary
Q&A: Angel Oak High Yield Opportunities ETF
Angel Oak’s PM team provides answers to frequently asked questions about the Angel Oak High Yield Opportunities ETF (NYSE: AOHY), including what they believe differentiates its strategy.
Read commentary
Documents
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.
High Yield Opportunities ETF Prospectus
Mortgage-Backed Securities ETF Prospectus
Multi-Strategy Income Fund Prospectus
Strategic Credit Fund Prospectus
UltraShort Income ETF Prospectus
UltraShort Income Fund Prospectus
Return to the Angel Oak Website to access standardized performance or recent portfolio holdings or positions (High Yield Opportunities ETF Performance, Income ETF Performance, Mortgage-Backed Securities ETF Performance, Multi-Strategy Income Fund Performance, Strategic Credit Fund Performance, UltraShort Income ETF Performance, UltraShort Income Fund Performance).
Important Social Media Disclosures
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.
Investing involves risk. Principal loss is possible. Some 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, 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. Derivatives may involve certain costs and risks such as illiquidity, interest rate, market, credit, management, and the risk that a position could not be closed when most advantageous. 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 non-rated securities present a greater risk of loss to principal and interest than higher-rated securities do. 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.
ETFs may trade at a premium or discount to NAV. Shares of any ETF are bought and sold at market prices (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. The Fund is an actively managed ETF, which is a fund that trades like other publicly traded securities. The Fund is not an index fund and does not seek to replicate the performance of a specified index.
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.
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.
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