FALN

iShares Fallen Angels USD Bond ETF
*Unless otherwise stated, data provided by FactSet.

FALN Fund Description

FALN tracks a market value weighted index of bonds that were rated investment grade at issuance, but later downgraded to sub-investment grade.

FALN Factset Analytics Insight

FALN invests in corporate “fallen angels”—corporate bonds that previously received an investment-grade rating, but have since been downgraded to sub-investment grade. Eligible securities must be USD-denominated, from developed-market issuers. Constituents are weighted by market value, with a cap of 3% per issuer. Unsurprisingly given the investment-grade origins of its holdings, the fund has a strong bias towards higher-rated BB and B bonds, with longer maturities and greater interest-rate exposure than our all-inclusive high-yield benchmark. The fallen-angel thesis revolves around total return: the bonds generate income, but also have the potential for capital appreciation if a constituent returns to investment-grade status.FALN is cheaply priced, particularly for its specialized exposure. However, a lack of interest from investors drives up the cost of trading the fund and raises the risk of closure.

FALN MSCI ESG Analytics Insight

iShares Fallen Angels USD Bond ETF has an MSCI ESG Fund Rating of BB based on a score of 3.14 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. iShares Fallen Angels USD Bond ETF ranks in the 9th percentile within its peer group and in the 46th percentile within the global universe of all funds covered by MSCI ESG Fund Ratings.

FALN Charts And Performance

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PERFORMANCE [as of 11/15/19] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
FALN 0.63% 2.69% 14.51% 11.50% 6.89% -- --
FALN (NAV) 0.74% 2.75% 13.60% 10.68% 6.83% -- --
Bloomberg Barclays US Corporate High Yield Index -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

FALN Summary Data

Blackrock
iShares
06/14/16
Open-Ended Fund
0.25%
$148.55M
$1.52M
0.17%

FALN Portfolio Data

5.46
--
5.03%
12/02/19
234

FALN Index Data

Market Value
Credit Downgrade
Bloomberg Barclays US Corporate High Yield Index

FALN Portfolio Management

0.25%
--
--
--

FALN Tax Exposures

20.00% / 39.60%
0.53%
Qualified dividends
No

FALN Fund Structure

Open-Ended Fund
No
Yes
80% / 20%
N/A
N/A
Low
Daily
Cboe Book Viewer
Top Of Book
Last 10 Trades
Bats BZX Real-time Quote -

FALN Factset Analytics Block Liquidity

As of 11/18/19
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of FALN. FALN is rated a N/A out of 5.

FALN Tradability

56,134
$1.52M
49,752
$1.33M
0.17%
$0.04
0.52%
1.23% / -1.07%
None
100.00%
50,000
1.00
0.03%
--
0
$26.52
N/A

FALN Sector/Industry Breakdown


FALN
Segment Benchmark
75.17%
--
20.49%
--
2.75%
--
1.32%
--
0.27%
--

FALN Top 10 Holdings[View All]

2.24%
2.03%
1.50%
1.47%
1.36%
1.33%
1.28%
1.26%
1.17%
1.11%
14.75%

FALN Top 5 Countries


FALN
Segment Benchmark
80.80%
--
8.22%
--
3.14%
--
2.62%
--
1.93%
--

FALN Top 5 Currencies


FALN
Segment Benchmark
100.00%
--

FALN Performance Statistics

--
--
--
--
--

FALN MSCI ESG Ratings

BB
3.14 / 10
45.87
9.41
5.74%
1.24%
392.87

FALN Holdings Statistics

9.19 years
5.46
5.03%
5.63
Low
234
3.91%

FALN Avg Life Maturity Distribution

4.95%
10.13%
12.56%
15.43%
12.02%
9.53%
12.70%
10.18%
12.50%

FALN OAS Breakdown

2.94%
21.11%
21.48%
21.56%
11.40%
5.27%
7.70%
2.53%
1.42%
1.80%
2.78%