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Morningstar

Angel Oak UltraShort Income A AOUAX

Morningstar Medalist Rating
Medalist Rating as of | See Angel Oak Investment Hub
  • NAV / 1-Day Return 9.76  /  +0.12 %
  • Total Assets 440.0 Mil
  • Adj. Expense Ratio
    0.600%
  • Expense Ratio 0.600%
  • Distribution Fee Level Above Average
  • Share Class Type No Load
  • Category Ultrashort Bond
  • Credit Quality / Interest Rate Sensitivity Medium/Limited
  • Min. Initial Investment 1,000
  • Status Open
  • TTM Yield 4.43%
  • Effective Duration 0.82 years

USD | NAV as of Apr 24, 2024 | 1-Day Return as of Apr 24, 2024, 12:21 AM GMT+0

Morningstar’s Analysis AOUAX

Will AOUAX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable AOUAX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the AOUAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of AOUAX’s parent organization’s priorities and whether they’re in line with investors’ interests.

The combination of a middling Process Pillar rating and a Below Average People Pillar rating limit Angel Oak UltraShort Income A to a Morningstar Medalist Rating of Negative.

null Morningstar Manager Research

Morningstar Manager Research

Summary

Fees are a weakness here. The strategy's lofty fees are a high hurdle to clear, as it is priced within the second-highest quintile among peers.

by Morningstar Manager Research
Rated on Published on

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Portfolio Holdings AOUAX

More AOUAX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings −9.3
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Cash Offset

16.93 75.7 Mil
—

First American Government Obligs U

4.28 19.1 Mil
Cash and Equivalents

Springcastle I Spv Llc 1.97%

1.52 6.8 Mil
Securitized

GS MORTGAGE-BACKED SECURITIES TRUST 2021-PJ9 2.5%

1.47 6.6 Mil
Securitized

Federal Home Loan Mortgage Corp. 5.92%

1.14 5.1 Mil
Securitized

PAGAYA AI DEBT TRUST 2022-1 3.34%

1.13 5.1 Mil
Securitized

LAKE SHORE MM CLO IV LTD 6.76%

1.12 5.0 Mil
Securitized

Monroe Capital Mml Clo 7.53%

1.01 4.5 Mil
Securitized

SALUDA GRADE ALTERNATIVE MORTGAGE TRUST 2021-MF1 2.81%

1.01 4.5 Mil
Securitized

U.S.AUTO FUNDING TRUST 2020-1 9.35%

0.99 4.4 Mil
Securitized