Angel Oak Total Return ETF · NASDAQ:TRBF
Angel Oak Total Return ETF — Angel Oak Capital Advisors — Q1 2019 Earnings Presentation
7 slides from Angel Oak Total Return ETF's earnings presentation, Mar 31, 2019
Slide 1: ASCAX | ASCIX
ASCAX | ASCIX March 31, 2019 QB Angel Oak Z] N CAPITAL ADVISORS ~
Slide 2: Quarter in Review
Quarter in Review + U.S. risk assets moved sharply higher in the first quarter of 2019, retracing most of the downside deviation from the fourth quarter of 2018. The S&P 500 had its best quarter since 2009, finishing up 13.65%. Technology stocks led the move, with the NASDAQ Composite Index up 16.81
Slide 3: Fundamentals = Scenario Improvement
Fundamentals = Scenario Improvement Single-Family Inventory as % of Total Households Home Prices Continue to Improve 4.0% 240 - F =Total Inventory em S&P/Case-Shiller 20-City Home Price Index 220 200 180 160 140 120 1.0% 100 Ce a Sa a aS So SS F_ FSH _ FP _ HM WF gg gg Gh gM gh GP xs s £ £ ££ £ FS K
Slide 4: Portfolio Performance
Portfolio Performance Summary + The Fund was up 229 basis points in the first quarter of 2019, underperforming the benchmark by 65 basis points. The Bloomberg Barclays U.S. Aggregate Bond Index was up 2.94% over the same time period, as U.S. interest rates rallied throughout the quarter driven by th
Slide 5: Sector Attribution
Sector Attribution Q1 2019* YTD 2019* % of Market Value Attribution (%) Attribution (%) Residential Mortgage Credit 45.9 0.85 0.85 Commercial Mortgage Credit 7.8 0.07 0.07 CLOs 24.9 0.44 0.44 Corporates 14.8 0.75 0.75 ABS 6.7 0.29 0.29 Cash 0.0 0.07 0.07 Fund Expenses - -0.17 -0.17 Total 100.0 2.29
Slide 6: Definitions
Definitions Basis Point (bps): One hundredth of one percent and is used to denote the percentage change in a financial instrument. Bloomberg Barclays U.S. Aggregate Bond Index: An unmanaged index that measures the performance of the investment-grade universe of bonds issued in the United States. The
Slide 7: Disclosures
Disclosures Investing involves risk. Principal loss is possible. The Fund’s Shares will not be listed on an exchange in the foreseeable future, if at all. The Fund’s derivative investments have risks, including the imperfect correlation between the value of such instruments and the underlying asset,
Angel Oak Capital Advisors — Q1 2019 Earnings Presentation on 6ix