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Angel Oak Capital Advisors launches income ETF focused on Residential Mortgage Credit  


Angel Oak Capital Advisors has launched the Angel Oak Income ETF (NYSE: CARY), the firm’s second actively managed ETF, designed to provide investors with the opportunity to invest primarily across US structured credit with a strong bias toward residential mortgage credit.

The firm writes that the fund’s significant allocation to structured credit combined with Angel Oak’s experience in these fixed-income asset classes should drive significant yield at a moderate duration compared to other similarly rated corporate bond indices as well as broad fixed-income markets.

“We are excited to be delivering our second actively managed ETF product in as many weeks,” says Sreeni Prabhu, group CIO and managing partner at Angel Oak Capital Advisors. “Our continued growth into the ETF space underscores our position as a front-runner in filling a gap in the structured credit market for investors.”

The ETF will be managed by Angel Oak’s portfolio management team, which since 2011 has managed mutual funds that allocate to these types of securities. In addition, Ward Bortz joined Angel Oak in June as a portfolio manager of the new ETF as well as of the firm’s recently launched UltraShort Income ETF (NYSE: UYLD).

Bortz was interviewed for ETF Express last week:

US structural credit ETF from Angel Oak is designed to bring diversity to fixed income offerings

“There has rarely been an investment opportunity as compelling as what we are seeing today in US structured credit assets,” says Bortz. “We are at a time in the market when these income-driven solutions are needed and being sought after by investors. Angel Oak has been a pioneer in structured credit investing for over a decade, and I am excited to continue to grow the firm’s ETF business to help meet the needs of investors.”

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