# Portfolio overlap — AOUAX vs CARY Comparing **Angel Oak UltraShort Income Fund** (2026-01-31) and **Angel Oak Income ETF** (2026-01-31). - Shared positions: 20 - Angel Oak UltraShort Income Fund covered by Angel Oak Income ETF: 0.05304576318432361720802699982 - Angel Oak Income ETF covered by Angel Oak UltraShort Income Fund: 0.05304576318432361720802699982 ## Angel Oak UltraShort Income Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | FIRST AMERICAN GOVERNMENT OBLIGATIONS FUND - CLASS U | 0.025779 | ✓ | | BCC 2020-5A ARR 4/34 | 0.013290 | | | CIFC Funding Ltd., Series 2020-1A, Class A1R | 0.012622 | | | Freddie Mac Multifamily Structured Pass Through Certificates | 0.010744 | | | Freddie Mac Multifamily Structured Pass Through Certificates | 0.009842 | | | Fannie Mae Pool | 0.009762 | | | U.S. Treasury Bills | 0.009748 | | | BLKMM 2025-2A A CLO 144A FRN 11-21-33 | 0.009713 | | | Pagaya AI Debt Grantor Trust 2025-7 | 0.008610 | | | MULTIFAMILY PERMANENT MBS | 0.008432 | | | MULTIFAMILY PERMANENT MBS | 0.007950 | | | Freddie Mac Pool | 0.007790 | | | Freddie Mac Multifamily Structured Pass Through Certificates | 0.007747 | | | BCRED MML CLO 2022-1 LLC | 0.007443 | | | Twin Brook Clo 2024-2 LLC | 0.006760 | | | Freddie Mac Multifamily Structured Pass Through Certificates | 0.006531 | | | Cerberus Loan Funding XL LLC | 0.006159 | | | Freddie Mac Multifamily Structured Pass Through Certificates | 0.006157 | | | Freddie Mac Multifamily Structured Pass Through Certificates | 0.006154 | ✓ | | EART 2022-3A D | 0.006044 | | | GS Mortgage-Backed Securities Trust, Series 2025-DSC2, Class A1 | 0.006032 | | | Trinitas CLO XIV Ltd., Series 2020-14A, Class A1R2 | 0.005901 | | | Freddie Mac Multifamily Structured Pass Through Certificates | 0.005797 | | | PAGAYA AI DEBT SELECTION TRUST PAID 2025 5 C 144A | 0.005554 | | | Freddie Mac Multifamily Structured Pass Through Certificates | 0.005553 | | | CarVal CLO VI-C Ltd | 0.005408 | | | Vista Point Securitization Trust, Series 2025-CES3, Class A1 | 0.005337 | | | FHMS K055 A2 | 0.005220 | | | Freddie Mac Multifamily Structured Pass Through Certificates | 0.005131 | | | Freddie Mac Multifamily Structured Pass Through Certificates | 0.005096 | | | TAOT 2024-D A3 | 0.004950 | | | Wells Fargo Commercial Mortgage Trust, Series 2025-VTT, Class C | 0.004936 | | | Freddie Mac Multifamily Structured Pass Through Certificates | 0.004935 | | | Towd Point Mortgage Trust 2025-CRM1 | 0.004928 | | | MFT 2023-3A D | 0.004792 | | | SpringCastle America Funding LLC, Series 2020-AA, Class A | 0.004762 | | | BRAVO Residential Funding Trust, Series 2024-CES2, Class A1A | 0.004750 | | | Dryden CLO Ltd., Series 2018-61A, Class A1R2 | 0.004669 | | | VISTA POINT SECURITIZATION TRUST VSTA_25-CES2 | 0.004603 | | | Freddie Mac Multifamily Structured Pass Through Certificates | 0.004597 | | | Towd Point Mortgage Trust, Series 2025-FIX1, Class A1 | 0.004588 | | | MULTIFAMILY PERMANENT MBS | 0.004565 | | | KKR FINANCIAL CLO LTD KKR 18 A1R2 144A | 0.004544 | | | Freddie Mac Multifamily Structured Pass Through Certificates | 0.004487 | | | GREYWOLF CLO LTD GWOLF 2020 3RA A1R2 144A | 0.004438 | | | SAIF Securitization Trust 2025-CES1 | 0.004424 | | | Freddie Mac Multifamily Structured Pass Through Certificates | 0.004388 | | | XPO INC REGD 144A P/P 6.25000000 | 0.004372 | | | DT AUTO OWNER TRUST 2022 2 | 0.004372 | | | SOUND POINT CLO LTD SNDPT 2015 2A ARRR 144A | 0.004348 | | ## Angel Oak Income ETF — top positions | Security | Weight | Shared | |----------|--------|--------| | FIRST AMERICAN GOVERNMENT OBLIGATIONS FUND - CLASS U | 0.050926 | ✓ | | Freddie Mac Multifamily Structured Pass Through Certificates | 0.015587 | | | iShares Broad USD High Yield Corporate Bond ETF | 0.013861 | | | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CERTIFI SER K-172 CL A2 V/R 4.58100000 | 0.013208 | | | FHMS K761 A2 | 0.012080 | | | Freddie Mac Multifamily Structured Pass Through Certificates | 0.011990 | ✓ | | Unlock Hea Trust 2023-1 7%, Due 10/25/2038 | 0.011796 | | | FHMS K553 A2 | 0.008986 | | | FANNIE MAE POOL FN 09/49 FIXED 3 | 0.008945 | | | SYCAMORE TREE CLO 2023-3 LTD STCP 2023-3A BR | 0.007729 | | | MFT 2023-1A D | 0.007305 | ✓ | | Sequoia Mortgage Trust 2026-1 | 0.007157 | | | PRET 2025-RPL2 Trust | 0.007127 | | | FNMA 30YR 5.5% 10/01/2053#CB7336 | 0.006637 | | | CPS Auto Receivables Trust 2024-A | 0.006553 | | | Fannie Mae Pool | 0.006507 | | | Bellemeade Re Ltd., Series 2025-1, Class M2 | 0.006355 | | | Extended Stay America Trust Series 22-ESH Class D | 0.006060 | | | Brant Point CLO 2023-1 Ltd | 0.006030 | | | FHMS K547 A2 | 0.006017 | | | Freddie Mac Multifamily Structured Pass Through Certificates | 0.006012 | | | FR SL1634 | 0.005829 | | | ATLX Trust, Series 2024-RPL1, Class M1 | 0.005806 | | | MFT 2023-2A D | 0.005506 | | | RCKT Mortgage Trust, Series 2021-5, Class A1 | 0.005447 | | | G2 MA8570 | 0.005276 | | | Freddie Mac Pool | 0.005242 | | | Extended Stay America Trust Series 22-ESH Class E | 0.004859 | | | Gallatin CLO XI 2024-1 Ltd | 0.004832 | | | ICG US CLO 2023-1 I Ltd | 0.004820 | | | AMMC CLO 32 Ltd | 0.004806 | | | HPS Private Credit CLO 2024-2 LLC | 0.004803 | | | Madison Park Funding XIX Ltd | 0.004790 | | | FNMA 30YR 2% 12/01/2051#CB3000 | 0.004741 | | | Saluda Grade Alternative Mortgage Trust, Series 2025-NPL1, Class A1 | 0.004740 | ✓ | | Freddie Mac Pool | 0.004638 | | | Columbia Cent CLO 27 Ltd | 0.004627 | | | Vista Point Securitization Trust 2025-CES3 | 0.004585 | | | FR SL0716 | 0.004554 | | | Dryden 107 CLO Ltd | 0.004413 | | | Deerpath Capital CLO 2024-1 Ltd | 0.004224 | | | Carvana Auto Receivables Trust 2021-N4 | 0.004177 | | | J.P. Morgan Mortgage Trust 2024-10 | 0.004126 | | | Bellemeade Re Ltd., Series 2025-1, Class M1B | 0.004096 | | | Freddie Mac Pool | 0.004075 | | | BLAST 2023-1 E | 0.004003 | | | BELLEMEADE RE 2025-1 LTD BMIR 2025 1 M1C 144A | 0.003972 | ✓ | | CSMC 2021-NQM8 | 0.003966 | | | Fannie Mae Pool | 0.003873 | | | Deephaven Residential Mortgage Trust, Series 2022-1, Class B2 | 0.003831 | | ## Sources - N-PORT (fund A) — accession `0001193125-26-136731` (as of 2026-01-31) - N-PORT (fund B) — accession `0001193125-26-136727` (as of 2026-01-31) --- _Informational only — not investment advice. FundWatcher presents publicly available data and makes no recommendation to buy or sell any security. Verify all figures against the source filing before relying on them._ _Data sourced from U.S. SEC EDGAR filings (Forms N-PORT, N-CEN, and prospectus Risk/Return summaries). FundWatcher is not affiliated with the SEC._ _Use of this data is subject to the FundWatcher Terms of Service. 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