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 most funds in the segment. 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.

PERFORMANCE [as of 05/17/22] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
FALN -4.70% -7.74% -13.42% -9.92% 3.84% 4.07% --
FALN (NAV) -4.60% -7.20% -12.53% -9.19% 4.26% 4.23% --
Bloomberg 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%
$3.13B
$26.87M
0.04%

FALN Portfolio Data

6.13
--
3.94%
06/01/22
291

FALN Index Data

Bloomberg US High Yield Fallen Angel 3% Capped Index
Market Value
Credit Downgrade
Bloomberg US Corporate High Yield Index

FALN Portfolio Management

0.25%
--
--
--

FALN Tax Exposures

20.00% / 39.60%
--
Ordinary income
No

FALN Fund Structure

Open-Ended Fund
No
Yes
-- / --
N/A
N/A
Low
Daily

FALN Factset Analytics Block Liquidity

As of 05/19/22
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

1,015,807
$26.87M
870,872
$23.19M
0.04%
$0.01
0.27%
0.99% / -0.81%
None
100.00%
50,000
17.42
0.03%
--
338
$25.73
N/A

FALN Sector/Industry Breakdown


FALN
Segment Benchmark
24.63%
--
14.77%
--
9.65%
--
7.82%
--
7.23%
--
5.30%
--
5.10%
--
4.98%
--
4.50%
--
3.14%
--

FALN Top 10 Holdings[View All]

1.92%
1.82%
1.82%
1.60%
1.48%
1.45%
1.43%
1.20%
1.15%
1.11%
14.97%

FALN Top 5 Countries


FALN
Segment Benchmark
78.92%
--
5.11%
--
3.30%
--
2.84%
--
2.71%
--

FALN Top 5 Currencies


FALN
Segment Benchmark
78.92%
--
5.11%
--
3.30%
--
2.84%
--
2.71%
--

FALN Performance Statistics

--
--
--
--
--

FALN Holdings Statistics


FALN
Segment Benchmark
--
--
6.13
--
--
--
--
--
3.94%
--
6.12
--
Medium
--
291
--
--
N/A

FALN Maturity Distribution


FALN
Segment Benchmark
--
--
--
--
--
--
--
--
--
--
--
--

FALN Credit Breakdown


FALN
Segment Benchmark
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--