Obra Defensive High Yield (ODHY) ETF Holdings & Analysis

What ODHY does

The Obra Defensive High Yield ETF (ODHY) is a dynamically managed fund that primarily seeks opportunities in U.S. dollar-denominated, high-yield corporate debt, commonly known as sub-investment grade or "junk" bonds. Its investment methodology is distinctly bottom-up and value-driven, meticulously selecting securities from larger entities that demonstrate robust cash flow generation. The fund specifically targets the upper tier of the high-yield market, focusing on bonds rated B3/B or superior. A cornerstone of its strategy involves a proprietary Default Risk Rating (DRR) employed by the advisor to rigorously assess each company's creditworthiness. This comprehensive rating scrutinizes default probability, expected loan recovery rates, and a multitude of other factors, including detailed audited financial statements, restrictive payment covenants, and thorough industry analysis. While predominantly investing in high-yield corporate debt, the fund allows for tactical diversification, allocating up to 10% of its assets to government securities, investment-grade bonds, or even unrated/lower-rated debt, provided such instruments meet the stringent internal DRR criteria. During periods of market turbulence, ODHY may engage in active trading to capitalize on opportunities or mitigate potential losses. To ensure diversification and maintain overall portfolio quality, the fund adheres to strict constraints: no more than 15% exposure to any single industry, individual issuer holdings are capped at 1.5%, and the weighted average rating across the portfolio is consistently maintained at B2/B.

Fund profile

Top holdings

Geographic allocation

PortView Portfolio Insights

PortView analyzes how ODHY fits your actual portfolio — position weight, ETF overlap with your other funds, sector and geographic exposure, concentration, and how this fund contributes to your portfolio risk and return. Connect a portfolio to see your personalized figures; PortView never shows another user's private holdings.

Related securities

Related stocks

Frequently asked questions

What does ODHY track?

ODHY is the Obra Defensive High Yield ETF, a Other ETF.

What is the expense ratio of ODHY?

Expense ratio data for ODHY is shown on the page when available from our data provider.

What are the largest holdings in ODHY?

Top holdings include Cash / Cash Equivalents, TDG 6.625 03/01/32 '27, WMS 6.375 06/15/30 '25, TEX 5.000 05/15/29 '24, IRM 5.000 07/15/28 '24.

How can PortView analyze ODHY overlap with other ETFs?

PortView computes the holdings overlap between ODHY and the other ETFs and stocks you own, plus your combined sector and geographic exposure, so you can see true diversification.