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Fallen Angel High Yield Bond ETF ANGL

  • Full Name: Market Vectors®
    Fallen Angel High Yield Bond ETF (ANGL)

    Management Style: Sampling

    Underlying Index: The BofA Merrill Lynch US Fallen Angel High Yield Index (H0FA)

    Index Provider: BofA Merrill Lynch

    Index Description: H0FA is comprised of below investment grade corporate bonds denominated in U.S. dollars, issued in the U.S. market and that were rated investment grade at the time of issuance.

  •  
      

    • Fund Ticker

      ANGL
    • Exchange

      NYSE Arca
    • Commencement

      04/10/2012
    • ETF Structure

      Physical
    • Administrator

      Van Eck Associates
    • Custodian

      Bank of New York Mellon
    • Index Ticker

      H0FA
    • Index Rebalancing

      Monthly
  •  
    as of 01/26/15

    • 30-Day SEC Yield1

      4.86%
    • Total Net Assets

      $21.7M
    • Number of Holdings

      150
    • Options

      Expected
    • Gross Expense Ratio2

      1.47%
    • Net Expense Ratio/TER2

      0.40%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      01/30/2015
  • Key Points

    • High Yield that was Once Investment Grade
      Fallen Angels are high-yield corporate bonds that were originally issued with investment grade ratings

    • Structural Attributes of Investment Grade Issuers
      Fallen Angel issuers tend to have better debt profiles and greater financing flexibility than original issue high-yield issuers7 

    • Potential Outperformance over Traditional High Yield
      Historically, Fallen Angel high-yield corporate bonds have outperformed other high-yield corporate bonds with similar risks8
        
  • Yields
    as of 01/26/15

    • 30-Day SEC Yield1

      4.86%
    • Distribution Yield1

      5.39%
    • 12-Month Yield1

      5.44%
     1 See Important Disclosure for definitions.
  • Fees & Expenses2

    • Management Fee

      0.40%
    • Other Expenses

      1.07%
    • Acquired Fund Fees and Expenses

      --
    • Gross Expense Ratio

      1.47%
    • Fee Waivers and
      Expense Reimbursement

      -1.07%
    • Net Expense Ratio/TER2

      0.40%
    2Expenses for ANGL are capped contractually at 0.40% until 09/01/15. Cap excludes certain expenses, such as interest. TER, or Total Expense Ratio, is also referred to as "Net Expense Ratio". See Important Disclosure for more information.
  • Trading Information

    • Fund Ticker

      ANGL
    • Index Total Return Ticker

      H0FA
    • NAV

      ANGLNV
    • Intraday NAV (IIV)5

      ANGLIV
    • Shares Outstanding

      800,000
    • Estimated Cash

      ANGLEU
    • Total Cash

      ANGLTC
    • CUSIP

      57061R304
    • ISIN

      US57061R3049
    5See IIV Details. Source: Bloomberg
  • Fundamentals4
    as of 01/23/15

    • Yield to Worst

      5.10%
    • Yield to Maturity

      5.19%
    • Effective Duration (yrs)

      5.33
    • Years to Maturity

      11.13
    • Coupon

      6.62%
     4 See Important Disclosure for definitions.
  • Prices as of 01/26/15

    NAV/
    Last Price
    Volume
    30-Day Avg./
    Last Trading Day
    Daily Change
    NAV/
    Last Price
    YTD Change
    NAV/
    Last Price
    Premium/
    Discount
    Prem/Discount
    Distribution Charts
    NAV &
    Prem/Discount
    History
    NAV
    Chart
    ANGL $27.12
    $27.04
    5,703
    1,701
    $0.04 / +0.15%
    $0.39 / +1.46%
    +2.9%
    +5.4%
    $-0.08
    -0.30%
  • View All Indices » View All ETFs » Performance History: Average Annual Total Returns* (%)

    1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR LIFE
    04/10/12
    ANGL (NAV) -2.60 -1.56 5.27 5.27 -- -- -- 8.66
    ANGL (Share Price) -4.59 -4.93 1.94 1.94 -- -- -- 7.60
    H0FA (Index) -1.04 0.13 7.08 7.08 12.46 11.67 9.68 11.16
    Performance Differential (NAV - Index) -1.56 -1.69 -1.81 -1.81 -- -- -- -2.50
    After Tax Held -- -- -- 2.76 -- -- -- 6.09
    After Tax Sold -- -- -- 3.05 -- -- -- 5.55
    1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR LIFE
    04/10/12
    ANGL (NAV) -2.60 -1.56 5.27 5.27 -- -- -- 8.66
    ANGL (Share Price) -4.59 -4.93 1.94 1.94 -- -- -- 7.60
    H0FA (Index) -1.04 0.13 7.08 7.08 12.46 11.67 9.68 11.16
    Performance Differential (NAV - Index) -1.56 -1.69 -1.81 -1.81 -- -- -- -2.50
    After Tax Held -- -- -- 2.76 -- -- -- 6.09
    After Tax Sold -- -- -- 3.05 -- -- -- 5.55
  • View All Holdings »Top 10 Holdings (%)as of 12/31/14

    Total Holdings: 151
    Holding Name
    Coupon
    Maturity
    Composite
    Rating
    Country
    Currency
    % of Net
    Assets
    Alcoa Inc
    6.150
    08/15/2020
    BB+
    U.S.
    USD
    2.15
    Sprint Capital Corp
    6.875
    11/15/2028
    B+
    U.S.
    USD
    2.09
    Embarq Corp
    7.995
    06/01/2036
    BB+
    U.S.
    USD
    1.98
    Softbank Corp
    4.500
    04/15/2020
    BB+
    Japan
    USD
    1.87
    Slm Corp
    8.450
    06/15/2018
    BB-
    U.S.
    USD
    1.84
    Telecom Italia Capital Sa
    6.999
    06/04/2018
    BB+
    Italy
    USD
    1.83
    Sprint Capital Corp
    8.750
    03/15/2032
    B+
    U.S.
    USD
    1.63
    Arcelormittal
    6.000
    03/01/2021
    BB+
    Luxembourg
    USD
    1.59
    Slm Corp
    8.000
    03/25/2020
    BB-
    U.S.
    USD
    1.59
    Slm Corp
    6.000
    01/25/2017
    BB-
    U.S.
    USD
    1.51
    Top 10 Total (%)18.08

    †See Country of Risk disclosure. These are not recommendations to buy or to sell any security. Securities and holdings may vary. Composite Rating: An evenly weighted blend of a security's Moody's, S&P, Fitch and DBRS ratings. Not Rated indicates that a security is rated by fewer than two of the four rating agencies. This composite is not intended to be a credit opinion. These are not recommendations to buy or to sell any security. Securities and holdings may vary.

  • Country Weightings (%) as of 12/31/14

    • Country

      % of Net Assets
    • U.S.

      64.8
    • LUXEMBOURG

      7.4
    • ITALY

      6.3
    • UNITED KINGDOM

      6.0
    • FRANCE

      4.6
    • JAPAN

      4.2
    • FINLAND

      2.1
    • NORWAY

      2.0
    • GERMANY

      1.4
    • PORTUGAL

      1.3
    • SWITZERLAND

      0.6
    • NEW ZEALAND

      0.5
    • SPAIN

      0.2
    • Other

      -1.3
  • Currency Exposure (%)
    as of 12/31/14

    • U.S. Dollar

      101.32
    • Other

      -1.32
    • Total

      100.00
  • Sector Weightings (%) as of 12/31/14

    • Sector

      % of Net Assets
    • Financial

      30.5
    • Communications

      20.3
    • Basic Materials

      17.1
    • Consumer, Non-cyclical

      8.9
    • Industrial

      6.4
    • Consumer, Cyclical

      6.1
    • Utilities

      5.9
    • Energy

      4.4
    • Technology

      1.7
    • Other

      -1.3
  • Credit Quality (%)
    as of 12/31/14

    Composite % of Net Assets
    Investment Grade BBB 2.08
    Non-Investment Grade BB 75.56
    B 16.01
    CCC 5.38
    CC 0.19
    Total Investment Grade 2.08
    Total Non-Investment Grade 97.14
    Not rated 0.78
    Composite Rating: An evenly weighted blend of a security's Moody's, S&P, Fitch and DBRS ratings. Not Rated indicates that a security is rated by fewer than two of the four rating agencies. This composite is not intended to be a credit opinion.
  • Maturity (%) as of 12/31/14

    Average Portfolio Maturity: 10.16 Years