Angel Oak Income ETF (CARY) Performance
CARY total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +1.6% since Dec 31, 2025
- 1 year
- +2.4% total return
- 5 years
- +7.2% a year
- 10 years
- +3.6% a year
- Since first price
- +2.2% a year since 1997
CARY trailing returns vs AGG, TLT, SPY
| Period | CARY total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | +0.4% | −0.1% | +0.9% | +1.5% | −1.0% |
| 3 months | −0.3% | −1.8% | −0.4% | −1.0% | +3.2% |
| 6 months | +0.0% | −2.8% | −1.5% | −3.8% | +7.8% |
| YTD | +1.6% | −2.4% | −1.0% | −3.4% | +12.3% |
| 1 year | +2.4% | −3.3% | −1.1% | −6.9% | +14.4% |
| 3 years | +22.3%+6.9%/yr | +1.7% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | +41.8%+7.2%/yr | +11.8% | — | — | — |
| 10 years | +41.8%+3.6%/yr | +11.8% | — | — | — |
| 15 years | +41.8%+2.4%/yr | +11.8% | — | — | — |
| 20 years | +41.8%+1.8%/yr | +11.8% | — | — | — |
| Since inceptionMay 28, 1997 | +87.5%+2.2%/yr | +47.9% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: CARY vs AGG
From Sep 26, 2003: CARY grew to $14,175, AGG to $19,588.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
CARY returns by calendar year
6 of 7 full years positive. Best 1999 (+39.3%), worst 2000 (−25.4%). 2026 is year to date.
CARY annual returns table
| Year | CARY | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | +1.6% | −2.3% | −1.0% | −3.4% | +12.3% |
| 2025 | +7.5% | −1.2% | +7.2% | +4.3% | +17.7% |
| 2024 | +7.6% | −1.7% | +1.3% | −8.1% | +24.9% |
| 2023 | +8.7% | −1.1% | +5.7% | +2.8% | +26.2% |
| 2022 | +10.9% | −0.6% | −13.0% | −31.2% | −18.2% |
| 2000 | −25.4% | −71.6% | — | — | −9.7% |
| 1999 | +39.3% | −37.9% | — | — | +20.4% |
| 1998 | +15.7% | −57.6% | — | — | +28.7% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
CARY largest drawdowns
Now 12.6% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jul 7, 1998 | −75.4% | Apr 24, 2000 | not yet | 1.8 years | 28.3 years so far |
| Oct 13, 1997 | −22.5% | Nov 24, 1997 | Feb 20, 1998 | 42 days | 4 months |
| Apr 1, 1998 | −15.7% | May 5, 1998 | Jun 25, 1998 | 34 days | 3 months |
| Jul 3, 1997 | −10.6% | Jul 31, 1997 | Sep 16, 1997 | 28 days | 2 months |
| Jun 9, 1997 | −8.1% | Jun 17, 1997 | Jun 23, 1997 | 8 days | 14 days |
| Sep 19, 1997 | −7.4% | Sep 29, 1997 | Oct 13, 1997 | 10 days | 24 days |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
CARY risk statistics
| Statistic | 3 years | 5 years | Since 1997 |
|---|---|---|---|
| Annualized return | +6.5% | +3.2% | +8.4% |
| Volatility (annualized) | 3.1% | 37.4% | 43.8% |
| Sharpe ratio | 0.68 | — | — |
| Sortino ratio | 1.00 | — | — |
| Best month | +2.1% | +50.0% | +50.0% |
| Worst month | −1.9% | −45.6% | −45.6% |
| Best 12 months | +12.8% | +125.1% | +125.1% |
| Worst 12 months | +2.0% | −27.3% | −50.7% |
| Positive months | 86% | 78% | 71% |
| Beta vs S&P 500 | 0.12 | 0.38 | — |
| Correlation with S&P 500 | 0.49 | 0.14 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
CARY rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 77 | −50.7% | +7.6% | +125.1% | 77% |
| 3-year (a year) | 53 | −13.4% | +7.6% | +38.4% | 81% |
| 5-year (a year) | 29 | −2.6% | +7.8% | +11.4% | 93% |
Every holding period starting at a month-end since 1997. Returns for 3 years and longer are annualized.
CARY performance overview
Angel Oak Income ETF (CARY) returned +2.4% over the past year and +3.6% a year over ten years, with distributions reinvested. Since its first recorded price in 1997 it has returned +2.2% a year, turning $10,000 into about $18,750. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −75.4%, from Jul 7, 1998 to Apr 24, 2000; the fund has not yet regained that high. CARY finished 6 of its 7 full calendar years with a gain; the best year was 1999 (+39.3%) and the worst 2000 (−25.4%). Volatility has been 43.8% a year.
Related: CARY chart, CARY dividends, CARY bond profile. See the CARY overview for the latest quote and fund facts.
CARY performance FAQ
What is the CARY return over the past year?
CARY returned +2.4% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 3.3%.
What is the average annual return of CARY?
CARY has returned +7.2% a year over 5 years, +3.6% a year over 10 years, +2.2% a year since May 28, 1997 (total return, distributions reinvested).
How much would $10,000 invested in CARY be worth?
$10,000 invested in CARY at its first recorded close on May 28, 1997 would be worth about $18,750 on October 23, 2026 with distributions reinvested.
What was the worst year for CARY?
The worst calendar year was 2000, with a total return of −25.4%. The best was 1999 at +39.3%.
What is the biggest drawdown of CARY?
The largest peak-to-trough decline was −75.4% between July 7, 1998 and April 24, 2000. It has not yet recovered to that high; it is 12.6% below its peak.
How volatile is CARY?
Over the past 3 years CARY had an annualized volatility of 3.1% and a Sharpe ratio of 0.68 (excess return over 1–3 month T-bills per unit of risk).