AOHY ETF — Holdings & Analysis

The Angel Oak High Yield Opportunities ETF (AOHY) is an actively managed fund seeking to maximize long-term risk-adjusted returns by investing primarily in below-investment-grade bonds.

Launched in February 2024 by Angel Oak, AOHY has $0.11 billion in assets under management and carries an expense ratio of 0.56%. AOHY distinguishes itself by focusing on high-yield opportunities within the bond market, aiming for a maturity and duration profile aligned with the broader high-yield market. The fund's current allocation is heavily concentrated in Basic Materials and a single holding.

Angel Oak High Yield Opportunities ETF (AOHY) ETF — Price, Holdings & Analysis

The Angel Oak High Yield Opportunities ETF (AOHY) is an actively managed fund seeking to maximize long-term risk-adjusted returns by investing primarily in below-investment-grade bonds. Launched in February 2024 by Angel Oak, AOHY has $0.11 billion in assets under management and carries an expense ratio of 0.56%. AOHY distinguishes itself by focusing on high-yield opportunities within the bond market, aiming for a maturity and duration profile aligned with the broader high-yield market. The fund's current allocation is heavily concentrated in Basic Materials and a single holding.

ETF Overview

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.

The Angel Oak High Yield Opportunities ETF (AOHY) aims to deliver long-term, risk-adjusted returns by investing primarily in high-yield bonds, also known as junk bonds. The fund's strategy involves selecting bonds rated below investment grade, which typically offer higher yields to compensate for their increased credit risk. AOHY's investment approach is designed to be diversified across various issuers and sectors within the high-yield market, although currently it is heavily concentrated in Basic Materials. The fund maintains a maturity and duration profile that aligns with the overall high-yield market. As of March 15, 2026, AOHY's top holding is First American Government Obligs U (FGUXX), representing 3.11% of the portfolio. The fund's investment decisions are actively managed by Angel Oak, seeking to capitalize on opportunities within the high-yield space. This ETF may appeal to investors seeking higher income potential and willing to accept the associated risks of below-investment-grade debt.

Risk Metrics

AOHY presents several risk considerations for potential investors. The fund's concentration in a single sector, Basic Materials (100%), exposes it to sector-specific risks and potential volatility. The fund's top holding, First American Government Obligs U (FGUXX), accounts for a relatively small portion of the overall portfolio, mitigating some concentration risk. With a beta of 0.44, AOHY exhibits lower volatility compared to the broader market. The expense ratio of 0.56% will create a drag on returns, particularly in a lower-return environment. Furthermore, the fund's focus on high-yield bonds entails credit risk, as these bonds are more susceptible to default. Investors should carefully consider their risk tolerance and investment objectives before investing in AOHY. Past performance does not guarantee future results.

Expense Ratio

0.56%

What does AOHY hold?

Holding	Weight
First American Government Obligs U (FGUXX)	3.11%

How Is the Fund Allocated?

Sector	Weight
Basic Materials	100.0%

Country	Weight
Other	100.0%

Dividend Yield

0.00%

Invesco QQQ Trust, Series 1 (QQQ) — 0.18% expense ratio
State Street Technology Select Sector SPDR ETF (XLK) — 0.08% expense ratio
State Street Energy Select Sector SPDR ETF (XLE) — 0.08% expense ratio
State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) — 0.16% expense ratio
iShares Russell 2000 ETF (IWM) — 0.19% expense ratio
State Street Financial Select Sector SPDR ETF (XLF) — 0.08% expense ratio
iShares MSCI Emerging Markets ETF (EEM) — 0.72% expense ratio
State Street SPDR S&P 500 ETF (SPY) — 0.09% expense ratio

Risk Metrics

Beta: 0.44

Questions & Answers

What is AOHY and what does it track?

The Angel Oak High Yield Opportunities ETF (AOHY) is an actively managed exchange-traded fund that seeks to maximize long-term risk-adjusted returns.

Launched in February 2024, AOHY invests primarily in bonds rated below investment grade, commonly known as high-yield or junk bonds. The fund aims to maintain a maturity and duration profile consistent with the broader high-yield market.

What is the expense ratio for AOHY?

The Angel Oak High Yield Opportunities ETF (AOHY) has an expense ratio of 0.56%. This means that for every $10,000 invested in the fund, $56 is used to cover the fund's operating expenses annually.

What are the top holdings in AOHY?

As of March 15, 2026, the Angel Oak High Yield Opportunities ETF (AOHY) has a concentrated portfolio. The top holding is First American Government Obligs U (FGUXX), representing 3.11% of the fund's total assets.

Is AOHY a good long-term investment?

Evaluating AOHY as a long-term investment requires careful consideration of its investment strategy and risk profile. The fund's focus on high-yield bonds offers the potential for higher income but also entails increased credit risk.

AOHY's concentration in the Basic Materials sector and its relatively short track record since its inception in February 2024 are also factors to consider.

How does AOHY compare to similar ETFs?

AOHY distinguishes itself through its active management and focus on high-yield opportunities. While a direct comparison to similar ETFs is difficult without specifying a peer group, its expense ratio of 0.56% should be considered relative to other high-yield bond ETFs.

Does AOHY pay dividends?

As of March 15, 2026, the Angel Oak High Yield Opportunities ETF (AOHY) has a dividend yield of 0.00%. This indicates that the fund is not currently distributing any dividend income to its shareholders.

While the fund's investment strategy focuses on high-yield bonds, the actual dividend payouts may vary depending on market conditions and the fund's specific holdings.