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- Upturn Summary
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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
10/13/2026: CARY (2-star) is currently NOT-A-BUY. Pass it for now.
CARY is an actively managed ETF that provides targeted exposure to non-agency mortgage-backed securities and securitized credit. By utilizing the expertise of Angel Oak Capital, the fund seeks to offer higher yield potential than passive agency MBS alternatives. Its main strengths include active credit selection and a focus on niche sectors that often offer better risk-adjusted income. Primary risks include sensitivity to interest rates, credit quality, and potential liquidity challenges in its specific asset class. It is best suited for income-focused investors who understand the risks of private-label mortgage markets and seek to diversify their core fixed-income holdings.
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 | This is an income-oriented product and does not prioritize capital appreciation through equity growth. |
| Momentum investor | Mixed fit | Momentum investors may find limited opportunity here as the fund is designed for steady income rather than trend-following. |
| Value investor | Mixed fit | Value investors may appreciate the potential for yield premiums in overlooked credit sectors, provided they understand the credit risk. |
| Dividend/Income investor | Strong fit | The fund is specifically structured to provide a steady stream of income via interest from mortgage-backed securities. |
| Low-risk investor | Mixed fit | While more stable than equities, it carries credit and interest rate risks that may exceed those of ultra-low-risk government bond funds. |
Investor Profile
Ideal Investor Profile
The ideal investor is an income-focused individual or institutional investor looking to diversify fixed-income exposure beyond traditional government securities.
Suitability
Best for long-term income-seeking investors; not ideal for those requiring daily liquidity for high-volume trading or those with low tolerance for credit risk.
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Volatility | Medium | The fund experiences price fluctuations linked to interest rate changes and credit spreads. |
| Market risk | Medium | Broad shifts in the housing and fixed-income markets directly impact the fund's net asset value. |
| Concentration | Medium / high | The portfolio is concentrated in securitized credit and mortgage-related assets, reducing exposure to other asset classes. |
| Tracking/expense | Low | As an active fund, the expense ratio is higher than passive index-tracking funds, which impacts net performance. |
| Liquidity | Medium | Certain securitized debt instruments may have lower daily trading volumes than government-backed bonds. |
| Business/sector quality | Medium | The health of the residential and commercial mortgage markets is a primary driver of the fund's success. |
Risk Analysis
Volatility
CARY exhibits moderate volatility commensurate with its exposure to credit-sensitive mortgage securities.
Market Risk
The fund is subject to interest rate risk, credit risk, and prepayment risk, which are standard for mortgage-backed securities.
What the ETF Owns
| Exposure Type | Exposure | Weight (%) | Retail Investor Read |
|---|---|---|---|
| Fixed-income type | Non-Agency Residential Mortgage-Backed Securities (RMBS) | 65 | This core exposure provides yield premiums over traditional government-backed bonds by investing in private-label mortgage credit. |
| Fixed-income type | Asset-Backed Securities (ABS) | 20 | These securities add diversification across various consumer and commercial debt pools, enhancing the fund's income potential. |
| Fixed-income type | Commercial Mortgage-Backed Securities (CMBS) | 10 | Exposure to commercial real estate debt provides an additional layer of income through structured credit instruments. |
| Cash/collateral | Cash and Cash Equivalents | 5 | Maintaining a small liquidity buffer allows the manager to meet redemptions and take advantage of new investment opportunities. |
Price Behavior
Flat / Range-Bound
The stock price has been trading within a narrow range with minimal directional movement.
Very Smooth
The stock has followed a highly orderly price path with minimal short-term disruption.
Analysis of Past Performance
Type ETF | Historic Profit 15.83% | 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 10/13/2026 |
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