Angel Oak Capital Advisors Continues Success With ETF Platform as Angel Oak Income ETF Crosses $100 Million in Assets Under Management

Angel Oak Capital Advisors LLC (Angel Oak), an investment management firm that specializes in value-driven structured credit, announced that the firm continues to find traction in its fast-growing exchange-traded fund platform with the Angel Oak Income ETF (NYSE: CARY) crossing $100 million in assets under management. The firm launched its first ETF in October 2022 and now has more than $220 million in assets across CARY and UYLD (Angel Oak UltraShort Income ETF, the firm’s short-duration credit ETF), and oversees approximately $350 million through its sub-advisory service.

“At just over a year in, we’re thrilled with the growth we’ve achieved in the actively managed fixed-income ETF space and with our ability to deliver for our investors,” said Ward Bortz, ETF portfolio manager and head of distribution for public strategies. “In 2024, we expect to continue delivering new and innovative funds that align with our expertise in the structured credit space while we also grow our sub-advisory services and explore new partnerships.”

CARY, one of the only actively managed ETFs focused on residential mortgage credit, has delivered an annualized 9.70% since its inception in November 2022. With a moderate-duration profile, CARY serves as an income solution for advisers and institutions seeking access to the unique asset class of non-agency residential mortgage-backed securities in a highly liquid format. The fund also provides exposure to other structured credit assets, including consumer asset-backed securities, collateralized loan obligations, and agency RMBS.

“As we are leaders in structured credit, finding success in areas of the market through our ETF platform — as well as our public and private strategies more broadly — has been rewarding in what was an otherwise challenging fixed income environment in 2023,” said Sreeni Prabhu, group chief investment officer and managing partner at Angel Oak. “We believe 2024 will present a host of unique opportunities in structured credit and we look forward to delivering another strong year for our investor base.”

To learn more about CARY, click here or visit angeloakcapital.com.

About Angel Oak Capital Advisors

Angel Oak is an investment management firm focused on providing compelling fixed-income investment solutions to its clients. Backed by a value-driven approach, Angel Oak seeks to deliver attractive, risk-adjusted returns through a combination of stable current income and price appreciation. Its experienced investment team seeks the best opportunities in fixed income, with a specialization in mortgage-backed securities and other areas of structured credit.

Net Total Returns as of 12/31/23

YTD

1 Year

Since

Inception

CARY (NAV)

9.05%

9.05%

9.70%

CARY (Market Price)

8.68%

8.68%

9.63%

Bloomberg U.S. Aggregate Bond Index

5.53%

5.53%

9.62%

The inception date of the Angel Oak Income ETF was Nov. 7, 2022.

Current performance may be lower or higher than performance data quoted. Performance quoted is past performance and 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 to the most recent month end can be obtained by calling 855-751-4324 or by visiting angeloakcapital.com/investments/cary.

 

CARY

Gross Expense Ratio*

0.99%

Net Expense Ratio*

0.79%

*Gross and net expense ratios are reported as of the 5/31/23 prospectus. The Adviser has contractually agreed to waive its fees to limit the Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement to 0.79% of the Fund’s average daily net assets through 5/31/24.

Bloomberg U.S. Aggregate Bond Index: An unmanaged index that measures the performance of the investment-grade universe of bonds issued in the United States. The index includes institutionally traded U.S. Treasury, government-sponsored, mortgage, and corporate securities.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund. This and other important information about the Fund is contained in the Prospectus which can be obtained by calling Shareholder Services at 855-751-4324 or from www.angeloakcapital.com. The Prospectus should be read carefully before investing.

Investing involves risk; principal loss is possible. Investments in debt securities typically decrease when interest rates rise. This risk is usually greater for longer-term debt securities. Investments in lower-rated and nonrated securities present a greater risk of loss to principal and interest than higher-rated securities do. Investments in asset-backed and mortgage-backed securities include additional risks that investors should be aware of, including credit risk, prepayment risk, possible illiquidity, and default, as well as increased susceptibility to adverse economic developments. 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. Investing in derivatives could lead to losses that are greater than the amount invested. The Fund may use leverage, which may exaggerate the effect of any increase or decrease in the value of securities in the Fund’s portfolio or higher and duplicative expenses when it invests in mutual funds, ETFs, and other investment companies. For more information on these risks and other risks of the Fund, 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.

The Angel Oak Funds are distributed by Quasar Distributors, LLC.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240124073847/en/

Media: Trevor Davis, Gregory FCA for Angel Oak 443-248-0359 [e-mail]

Company: Randy Chrisman, Chief Marketing and Corporate Investor Relations Officer, Angel Oak 404-953-4969 [e-mail]