In plain terms — Angel Oak Financial Strategies Income Term Trust
Shares currently cost about 6.8% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 6.3% discount, so today's level is somewhat wide for this fund (Z-score -1.3). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 11.4% a year of the share price (10.6% of the assets). That is a payout rate, not a return: part of it may be capital being handed back.
Because the shares trade below the value of their assets, each dollar of reinvested distributions buys about $1.07 of assets — a ReinvestCapture™ rate of 12.2%, more than the payout rate itself. That is buying power, not a return.
The assets themselves grew 3.0% over the past year including distributions (NAV total return).
Annual costs are 3.27% of assets, and the fund borrows: about 0% of what it holds is financed with leverage, which magnifies both gains and losses.
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Price and NAV, past year
Snapshot
Valuation vs. history
| Window | Average prem/disc | Std. dev. | Z-score | Observations |
|---|---|---|---|---|
| 3 months | -6.97% | 1.07% | -0.60 | 63 |
| 6 months | -6.55% | 0.95% | -1.12 | 125 |
| 1 year | -6.28% | 1.02% | -1.31 | 248 |
| 3 years | -7.56% | — | — | — |
| 5 years | -8.97% | — | — | — |
Current contemporaneous premium/discount -7.62% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -9.33% to -4.33%. A negative Z-score means a wider discount than the window average — not that the fund is undervalued.
Performance
| Series | 1M | 3M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) |
|---|---|---|---|---|---|---|
| Market price return | -4.35% | -7.33% | -10.07% | -9.31% | -0.36% | -6.72% |
| Market price total return | -3.45% | -4.75% | -2.51% | +0.95% | +10.60% | +2.74% |
| NAV return | -2.18% | -4.48% | -6.54% | -6.88% | -1.73% | -7.00% |
| NAV total return | -1.33% | -1.99% | +0.83% | +2.99% | +8.23% | +1.56% |
Through Oct 14, 2026. Total return reinvests distributions at the series value on the ex-date. Cumulative ≤ 1 year, annualised beyond.
About the fund
The Angel Oak Financial Strategies Income Term Trust operates as a closed-end investment vehicle, with a primary objective of delivering current income and a secondary focus on achieving overall capital appreciation. This Trust employs an investment methodology predominantly centered on debt instruments within the banking sector, a strategy historically known for its limited correlation with other market areas. Established on June 14, 2018, its principal office is located in Atlanta, Georgia.
CEF Explorer research page for Angel Oak Financial Strategies Income Term Trust. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.