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Upturn AI Summary
Angel Oak Income ETF(CARY)
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for CARY
10/28/2026: CARY (2-star) is currently NOT-A-BUY. Pass it for now.
The Angel Oak Income ETF (CARY) is an actively managed fund that provides exposure to non-agency mortgage-backed and structured credit securities. It offers an income-oriented investment strategy that differentiates itself from typical government-backed mortgage ETFs. Key strengths include the issuer's deep expertise in securitized debt and the potential for higher yields through private-label credit. Investors should remain mindful of the risks associated with mortgage market health, credit spread widening, and the inherent complexity of the underlying assets. It is best suited for income-seeking investors looking to diversify their fixed-income allocation beyond traditional, high-quality debt.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
ETF holdings, costs, diversification, valuation, risks, and market conditions provide supporting context about the fund.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Weak fit | The fund prioritizes income generation rather than capital appreciation through equity growth. |
| Momentum investor | Weak fit | This fund is designed for steady income and credit exposure, not for capturing short-term market momentum. |
| Value investor | Strong fit | Value-oriented investors may find the yield-to-risk profile of the underlying mortgage credit assets attractive. |
| Dividend/Income investor | Strong fit | The fund is specifically built to deliver recurring income from high-quality securitized credit assets. |
| Low-risk investor | Mixed fit | While it is a bond fund, the complexity of structured credit entails more risk than traditional government bond ETFs. |
Investor Profile
Ideal Investor Profile
Income-focused investors who understand credit risks and seek diversification beyond standard Treasury or investment-grade bond funds.
Suitability
Best suited for long-term investors looking to build a diversified income-producing portfolio segment.
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Volatility | Medium | The fund is subject to market price fluctuations common in the securitized debt market. |
| Market risk | Medium | Changes in interest rates and housing market conditions directly impact the value of the portfolio. |
| Concentration | Medium / high | Heavy exposure to mortgage-related assets makes the fund sensitive to specific real estate sector downturns. |
| Tracking/expense | Low | As an active fund, it does not seek to track an index, making tracking error irrelevant. |
| Liquidity | Medium | The underlying non-agency mortgage assets can be less liquid than U.S. Treasuries during market stress. |
| Business/sector quality | Medium | The health of the residential and commercial mortgage markets is a primary driver of default risk. |
Risk Analysis
Volatility
CARY exhibits moderate volatility, generally correlated with credit market spreads rather than just interest rates.
Market Risk
Risks include credit defaults in the underlying mortgage pools, interest rate duration risk, and liquidity risk in the non-agency market.
What the ETF Owns
| Exposure Type | Exposure | Weight (%) | Retail Investor Read |
|---|---|---|---|
| Fixed-income type | Non-Agency Residential Mortgage-Backed Securities (RMBS) | 60 | These securities provide yield premiums over traditional government bonds by investing in pools of private-label mortgage loans. |
| Fixed-income type | Commercial Mortgage-Backed Securities (CMBS) | 25 | This exposure adds diversification through loans backed by commercial real estate properties like offices and retail centers. |
| Fixed-income type | Asset-Backed Securities (ABS) and Other Credit | 10 | Includes various consumer or business-related asset-backed instruments to enhance total yield potential. |
| Cash/collateral | Cash and Cash Equivalents | 5 | Provides necessary liquidity for fund operations and enables the manager to take advantage of tactical market opportunities. |
Price Behavior
Flat / Range-Bound
The stock price has been trading within a narrow range with minimal directional movement.
Smooth
The stock has moved along a generally orderly path with only modest fluctuations.
Analysis of Past Performance
Type ETF | Historic Profit 15.9% | Avg. Invested days 86 | Today’s Advisory PASS |
Upturn Advisory Rating  | Upturn Advisory Performance  3.0 | ETF Returns Performance  3.0 |
| Profits based on simulation | Last Close 10/28/2026 |
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