AOUAX Performance — Angel Oak UltraShort Income Fund, Class A
Data updated: 2026-09-28
AOUAX returned +2.13% year to date and +4.41% over one year to Jul 2026. Annualised returns are +5.69% over 3 years and +3.38% over 5 years. The fund trailed its Ultrashort Securitized Bond category average: $100 invested three years ago grew to $118, against $122 for the category, and to $104 over one year, against $106. Volatility over the past three years was 0.61% a year. In the 12 months to Jul 2026 the fund took in a net $165.1M, and assets reached $822.95M.
AOUAX Growth of $100
What $100 invested in Angel Oak UltraShort Income Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Ultrashort Securitized Bond category average over the same months.
| Period | AOUAX | Category average |
|---|---|---|
| 1 year (Aug 2025 – Jul 2026) | $104 | $106 |
| 3 years (Aug 2023 – Jul 2026) | $118 | $122 |
| 5 years (Aug 2021 – Jul 2026) | $118 | $122 |
| Since data start (Aug 2019 – Jul 2026) | $122 | $127 |
AOUAX Trailing Returns
Total returns to Jul 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +2.13% |
| 1 year | +4.41% |
| 3 years (annualised) | +5.69% |
| 5 years (annualised) | +3.38% |
AOUAX Annual Returns
Calendar-year total returns of Angel Oak UltraShort Income Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jul) | +2.13% |
| 2025 | +5.33% |
| 2024 | +6.70% |
| 2023 | +6.73% |
| 2022 | −3.62% |
| 2021 | +0.67% |
| 2020 | +1.62% |
| 2019 (Aug–Dec) | +1.36% |
AOUAX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.3% | +0.4% | +0.1% | +0.4% | +0.4% | +0.4% | +0.3% | — | — | — | — | — |
| 2025 | +0.5% | +0.6% | +0.3% | +0.4% | +0.3% | +0.6% | +0.3% | +0.6% | +0.4% | +0.4% | +0.4% | +0.4% |
| 2024 | +0.8% | +0.5% | +0.6% | +0.3% | +0.7% | +0.6% | +0.6% | +0.7% | +0.6% | +0.2% | +0.4% | +0.4% |
| 2023 | +1.1% | +0.3% | +0.4% | +0.4% | +0.4% | +0.6% | +0.5% | +0.7% | +0.4% | +0.3% | +0.8% | +0.7% |
| 2022 | −0.1% | −0.3% | −0.8% | −0.4% | −0.3% | −0.6% | +0.3% | −0.2% | −0.7% | −0.5% | −0.2% | +0.2% |
| 2021 | +0.3% | 0.0% | +0.1% | 0.0% | +0.1% | +0.1% | +0.1% | +0.1% | 0.0% | 0.0% | 0.0% | 0.0% |
| 2020 | +0.4% | +0.4% | −4.6% | +1.4% | +1.5% | +1.2% | +0.4% | +0.3% | +0.3% | +0.1% | +0.1% | +0.3% |
| 2019 | — | — | — | — | — | — | — | +0.5% | +0.1% | +0.3% | +0.1% | +0.2% |
AOUAX Risk
Risk measures from monthly returns over Aug 2023 – Jul 2026.
- 3-year volatility (annualised): 0.61%
- 3-year Sharpe ratio: 1.95 (vs 4.5% risk-free rate)
- Best month: +0.81% (Jan 2024)
- Worst month: +0.05% (Mar 2026)
AOUAX Fund Flows
Monthly money in and out of Angel Oak UltraShort Income Fund, from SEC Form N-PORT.
- 12-month net flow: $165.1M
- 12-month gross sales (incl. reinvestments): $518.4M
- Sales ÷ redemptions: 1.47×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jul 2026 | $35.0M | $36.8M | −$1.8M |
| Jun 2026 | $41.3M | $31.2M | $10.2M |
| May 2026 | $56.1M | $38.2M | $17.9M |
| Apr 2026 | $36.2M | $39.3M | −$3.1M |
| Mar 2026 | $30.7M | $34.8M | −$4.2M |
| Feb 2026 | $33.6M | $32.1M | $1.5M |
| Jan 2026 | $39.4M | $25.0M | $14.5M |
| Dec 2025 | $65.1M | $32.4M | $32.7M |
| Nov 2025 | $24.8M | $17.2M | $7.6M |
| Oct 2025 | $38.2M | $21.9M | $16.3M |
| Sep 2025 | $92.8M | $19.4M | $73.4M |
| Aug 2025 | $25.0M | $25.0M | $82K |
AOUAX Assets Under Management
Net assets of Angel Oak UltraShort Income Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-07-31 | $822.95M |
| 2026-04-30 | $797.62M |
| 2026-01-31 | $805.22M |
| 2025-10-31 | $749.89M |
| 2025-07-31 | $659.02M |
| 2025-04-30 | $626.58M |
| 2025-01-31 | $475.91M |
| 2024-10-31 | $447.34M |
| 2024-07-31 | $429.18M |
| 2024-04-30 | $437.30M |
| 2024-01-31 | $453.35M |
| 2023-10-31 | $516.51M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.