ANGL

VanEck Vectors Fallen Angel High Yield Bond ETF
A

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*Unless otherwise stated, data provided by FactSet.

ANGL Fund Description

ANGL 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 Analytics Insight

VanEck Vectors Fallen Angel High Yield Bond ETF has an MSCI ESG Fund Rating of BB based on a score of 3.40 out of 10. The MSCI ESG Fund Rating measures the resiliency of portfolios to long-term risks and opportunities arising from environmental, social, and governance factors. ESG Fund Ratings range from best (AAA) to worst (CCC). Highly rated funds consist of companies that tend to show strong and/or improving management of financially relevant environmental, social and governance issues. These companies may be more resilient to disruptions arising from ESG events.

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. VanEck Vectors Fallen Angel High Yield Bond ETF ranks in the 12nd percentile within its peer group and in the 54th percentile within the global universe of all funds covered by MSCI ESG Fund Ratings.

ANGL CHARTS AND PERFORMANCE

Price Chart ($)
Total Return Chart (%)
  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
COMPARE
RESET
Select ETFs to compare their performance:
PERFORMANCE [as of 07/18/19] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
ANGL 1.83% 2.75% 12.61% 7.45% 7.03% 6.80% --
ANGL (NAV) 1.53% 1.99% 11.22% 6.61% 6.91% 6.73% --
ICE BofAML US Fallen Angel High Yield Index 1.57% 2.06% 11.51% 6.93% 7.43% 7.29% --
Bloomberg Barclays US Corporate High Yield Index -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

ANGL Top 10 Countries [View All]

ANGL Top 10 Sectors

ANGL Top 10 Holdings [View All]

ANGL Summary Data

VanEck
04/10/12
Open-Ended Fund
0.35%
$1.12B
$13.91M
0.06%

ANGL Portfolio Data

5.59
--
6.57%
08/01/19
14

ANGL Index Data

ICE BofAML US Fallen Angel High Yield Index
Market Value
Credit Downgrade
Bloomberg Barclays US Corporate High Yield Index

ANGL Portfolio Management

0.35%
-0.26%
-0.08%
-0.41%

ANGL Tax Exposures

20.00% / 39.60%
0.10%
Ordinary income
No

ANGL Fund Structure

Open-Ended Fund
No
Yes
100% / 0%
N/A
N/A
Low
Daily
Cboe Book Viewer
TOP OF BOOK
LAST 10 TRADES
Bats BZX Real-time Quote -
Daily Spread
Premium/Discount
Volume

ANGL Factset Analytics Block Liquidity

As of 07/19/19
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 N/A out of 5.

ANGL Tradability

481,744
$13.91M
279,978
$8.19M
0.06%
$0.02
-0.03%
1.08% / -2.41%
None
100.00%
50,000
5.60
0.03%
--
37
$29.10
N/A

ANGL Sector/Industry Breakdown


ANGL
Segment Benchmark
79.78%
--
15.54%
--
3.01%
--
1.39%
--
0.27%
--

ANGL Top 10 Holdings[View All]

0.94%
0.92%
0.79%
0.58%
0.57%
0.56%
0.44%
0.38%
0.37%
0.37%
5.92%

ANGL Top 5 Countries


ANGL
Segment Benchmark
81.86%
--
4.91%
--
3.74%
--
2.58%
--
1.78%
--

ANGL Top 5 Currencies


ANGL
Segment Benchmark
100.00%
--

ANGL Performance Statistics

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--
--
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ANGL MSCI ESG Ratings

BB
3.40 / 10
54.40
11.62
5.48%
1.41%
299.79

ANGL HOLDINGS STATISTICS

10.08 years
5.59
6.57%
5.77
Medium
14
4.38%

ANGL AVG LIFE MATURITY DISTRIBUTION

0.85%
12.38%
12.44%
11.80%
14.38%
11.27%
13.18%

ANGL OAS BREAKDOWN

13.46%
25.26%
18.77%
18.22%
7.00%
5.57%
3.95%
1.71%
0.47%
5.20%