ANGL

VanEck Vectors Fallen Angel High Yield Bond ETF
CLOSING PRICECHANGE (%)VOLUME
$30.18+0.03 (0.10%)187.98K
4:00:00 p.m. (ET) 09/22/2017
BZX EXCHANGE CLOSED
LAST TRADECHANGE (%)
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BID SIZEBID ($)ASK ($)ASK SIZE
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C

70
  • Overview
  • Efficiency
  • Tradability
  • Fit

ANGL Fund Description

The VanEck Vectors Fallen Angel High Yield Bond ETF tracks a market-value-weighted index of bonds that were rated investment grade at issuance but later downgraded to sub-investment grade.

ANGL FactSet Analytics Insight

ANGL looks for value in the high-yield space by targeting "fallen angels", bonds that are under duress or have been downgraded. The investment thesis is interesting. Credit downgrades can generate short-term downward pricing pressure. Future credit upgrade will compress the credit spread, which can lead to price appreciation. In combination, the strategy aims to buy low and sell high for maximum total returns. ANGL is limited to USD issues, but holds a sizable share of debt from non-US issers. It also has a markedly high average maturity and duration, and thus carries significant interest-rate risk in addition to credit risk.
Retail traders should find plentiful liquidity with modest spreads. It’s a different picture for the institutional trader, who will find that poor underlying liquidity inhibits efficient block execution. ANGL charges a very reasonable fee for a novel strategy, though it tends to lag its index by far more than the listed fee, likely due to the difficulty of trading the underlying bonds. That’s a problem for any high-yield bond fund, but it hits ANGL especially hard, raising holding costs.

ANGL MSCI ESG Fund metrics Insight

The MSCI ESG Fund Quality Score measures the ability of ETF underlying holdings to manage key medium to long-term risks and opportunities arising from environmental, social, and governance factors, as determined by MSCI ESG Research LLC. As of September 21, 2017 the VanEck Vectors Fallen Angel High Yield Bond ETF MSCI ESG Fund Quality Score is 3.80 out of 10.

The fund’s Peer Rank reflects the ranking of a fund’s MSCI ESG Fund Quality Score against the scores of other funds within the same peer group, as defined by the Thomson Reuters Lipper Global Classification. ANGL ranks in the 72nd percentile within its peer group and in the 6th percentile within the global universe of all funds in MSCI ESG Fund Metrics coverage.

  • 1 Month
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  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
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ANGL Summary Data

04/10/12
Open-Ended Fund
0.35%
$1.01 B
$11.73 M
0.09%

ANGL Portfolio Data

6.20
11.29 Years
5.31%
10/02/17
239

ANGL Index Data

BofA Merrill Lynch US Fallen Angel High Yield Index
Market Value
Credit Downgrade
Barclays U.S. Corporate High Yield Index

Related ETFs to ANGL

PHB, FALN, WFHY, HYG, JNK
Total Return
  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max

ANGL Portfolio Management

0.35%
-1.12%
-0.46%
-1.79%

ANGL Tax Exposures

20.00% / 39.60%
0.42%
Ordinary income
No

ANGL Fund Structure

Open-Ended Fund
No
Yes
100% / 0%%
N/A
N/A
Low
Daily
Bats Book Viewer
TOP OF BOOK
SHARES/SIZEPRICE
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BIDS----
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LAST 10 TRADES
TIMEPRICESHARES
15:59:5430.17100
15:59:1630.17100
15:52:1730.17100
15:25:3930.1754
15:25:3530.17100
15:25:3530.17100
15:25:3530.1770
15:25:3530.1730
15:07:5330.17400
15:06:2330.17100
Bats BZX Real-time Quote - 23:59:59
Daily Spread
Premium/Discount
Volume

ANGL FactSet Analytics Block Liquidity

As of 09/22/17
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of ANGL. ANGL is rated a 2 out of 5.

ANGL Tradability

392,442
$11.73 M
286,292
$8.58 M
0.09%
$0.03
0.15%
0.63% / -2.82%
None
100.00%
50,000
5.73
0.03%
0%%
5
$30.15
2

ANGL Performance Statistics

0.84
1.02
1.02
0.93
0.08%

ANGL MSCI ESG Fund Metrics

3.80 / 10
71.83
5.59
5.91%
1.50%
569.68