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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 11/21/14

    • 30-Day SEC Yield1

      4.56%
    • Total Net Assets

      $22.0M
    • Number of Holdings

      139
    • Options

      Expected
    • Gross Expense Ratio2

      1.47%
    • Net Expense Ratio/TER2

      0.40%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      11/28/2014
  • 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 11/21/14

    • 30-Day SEC Yield1

      4.56%
    • Distribution Yield1

      5.68%
    • 12-Month Yield1

      5.52%
     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 11/20/14

    • Yield to Worst

      4.91%
    • Yield to Maturity

      5.00%
    • Effective Duration (yrs)

      5.41
    • Years to Maturity

      11.13
    • Coupon

      6.62%
     4 See Important Disclosure for definitions.
  • Prices as of 11/21/2014

    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 $27.47
    $27.69
    9,328
    7,448
    $0.08 / +0.29%
    $0.34 / +1.24%
    + 4.8%
    + 5.0%

    $0.22
    0.81%
  • 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) 1.33 1.02 8.36 8.90 -- -- -- 10.49
    ANGL (Share Price) -0.06 0.22 7.17 8.35 -- -- -- 10.25
    H0FA (Index) 1.32 1.13 8.36 9.86 12.89 12.97 10.10 12.45
    Performance Differential (NAV - Index) 0.01 -0.11 0.00 -0.96 -- -- -- -1.96
    After Tax Held -- -- -- 6.26 -- -- -- 7.87
    After Tax Sold -- -- -- 5.04 -- -- -- 6.92
    1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR LIFE
    04/10/12
    ANGL (NAV) -1.86 -1.27 6.94 10.09 -- -- -- 10.28
    ANGL (Share Price) -1.70 -0.34 7.23 10.92 -- -- -- 10.65
    H0FA (Index) -1.61 -0.96 6.95 11.06 13.69 13.02 10.21 12.30
    Performance Differential (NAV - Index) -0.25 -0.31 -0.01 -0.97 -- -- -- -2.02
    After Tax Held -- -- -- 7.41 -- -- -- 7.66
    After Tax Sold -- -- -- 5.72 -- -- -- 6.76
  • View All Holdings »Top 10 Holdings (%)as of 10/31/14

    Total Holdings: 115
    Holding Name
    Coupon
    Maturity
    Composite
    Rating
    Country
    Currency
    % of Net
    Assets
    Arcelormittal
    6.000
    03/01/2021
    BB+
    Luxembourg
    USD
    2.94
    Embarq Corp
    7.995
    06/01/2036
    BB+
    U.S.
    USD
    2.58
    Slm Corp
    8.450
    06/15/2018
    BB-
    U.S.
    USD
    2.47
    El Paso Corp
    7.750
    01/15/2032
    BB
    U.S.
    USD
    2.30
    Springleaf Finance Corp
    6.900
    12/15/2017
    CCC+
    U.S.
    USD
    2.02
    Sprint Capital Corp
    6.900
    05/01/2019
    B+
    U.S.
    USD
    1.98
    Arcelormittal
    6.125
    06/01/2018
    BB+
    Luxembourg
    USD
    1.98
    Royal Bank Of Scotland Group Plc
    7.640
    03/29/2049
    B+
    United Kingdom
    USD
    1.93
    Sprint Capital Corp
    6.875
    11/15/2028
    B+
    U.S.
    USD
    1.82
    Telecom Italia Capital Sa
    6.999
    06/04/2018
    BB+
    Italy
    USD
    1.73
    Top 10 Total (%)21.75

    †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 10/31/14

    • Country

      % of Net Assets
    • U.S.

      66.2
    • LUXEMBOURG

      7.5
    • ITALY

      5.6
    • FRANCE

      5.5
    • UNITED KINGDOM

      3.7
    • NORWAY

      2.9
    • FINLAND

      2.0
    • JAPAN

      1.9
    • GERMANY

      1.8
    • PORTUGAL

      1.6
    • NEW ZEALAND

      0.6
    • SPAIN

      0.3
    • Other

      0.3
  • Currency Exposure (%)
    as of 10/31/14

    • U.S. Dollar

      99.71
    • Other

      0.29
    • Total

      100.00
  • Sector Weightings (%)
    as of 10/31/14

    • Sector

      % of Net Assets
    • Financial

      26.0
    • Communications

      20.7
    • Basic Materials

      16.3
    • Consumer, Non-cyclical

      8.1
    • Energy

      7.3
    • Consumer, Cyclical

      7.3
    • Utilities

      6.4
    • Industrial

      5.5
    • Technology

      2.1
    • Other

      0.3
  • Credit Quality (%)
    as of 10/31/14

    Composite % of Net Assets
    Investment Grade BBB 0.87
    Non-Investment Grade BB 73.12
    B 16.47
    CCC 6.23
    CC 0.25
    Total Investment Grade 0.87
    Total Non-Investment Grade 96.06
    Not rated 3.07
    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 10/31/14

    Average Portfolio Maturity: 11.28 Years