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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 09/22/14

    • 30-Day SEC Yield1

      4.44%
    • Total Net Assets

      $16.7M
    • Number of Holdings

      110
    • Options

      Expected
    • Gross Expense Ratio2

      1.47%
    • Net Expense Ratio/TER2

      0.40%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      09/30/2014
  • 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 09/22/14

    • 30-Day SEC Yield1

      4.44%
    • Distribution Yield1

      5.52%
    • 12-Month Yield1

      5.43%
     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

      600,000
    • Estimated Cash

      ANGLEU
    • Total Cash

      ANGLTC
    • CUSIP

      57061R304
    • ISIN

      US57061R3049
    5See IIV Details. Source: Bloomberg
  • Fundamentals4
    as of 09/22/14

    • Yield to Worst

      4.94%
    • Yield to Maturity

      5.02%
    • Effective Duration (yrs)

      5.64
    • Years to Maturity

      11.13
    • Coupon

      6.62%
     4 See Important Disclosure for definitions.
  • Prices as of 09/22/2014

    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 $27.84
    $27.86
    4,200
    1,269
    $0.00 / +0.00%
    $-0.17 / -0.60%
    + 6.2%
    + 5.7%

    $0.02
    0.06%
  • 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) 1.58 1.60 8.96 13.29 -- -- -- 11.52
    ANGL (Share Price) 2.01 1.82 9.09 13.80 -- -- -- 11.83
    H0FA (Index) 1.45 1.72 8.69 14.27 13.02 15.00 10.58 13.52
    Performance Differential (NAV - Index) 0.13 -0.12 0.27 -0.98 -- -- -- -2.00
    After Tax Held -- -- -- 10.54 -- -- -- 8.87
    After Tax Sold -- -- -- 7.49 -- -- -- 7.69
    1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR LIFE
    04/10/12
    ANGL (NAV) 1.00 3.85 8.31 13.51 -- -- -- 12.15
    ANGL (Share Price) 0.42 4.16 7.60 13.56 -- -- -- 12.09
    H0FA (Index) 1.07 4.12 7.99 14.55 11.70 16.63 10.90 14.29
    Performance Differential (NAV - Index) -0.07 -0.27 0.32 -1.04 -- -- -- -2.14
    After Tax Held -- -- -- 10.67 -- -- -- 9.48
    After Tax Sold -- -- -- 7.59 -- -- -- 8.16
  • View All Holdings »Top 10 Holdings (%)as of 08/31/14

    Total Holdings: 110
    Holding Name
    Coupon
    Maturity
    Composite
    Rating
    Country
    Currency
    % of Net
    Assets
    Arcelormittal
    6.000
    03/01/2021
    BB+
    Luxembourg
    USD
    2.96
    Slm Corp
    8.450
    06/15/2018
    BB-
    U.S.
    USD
    2.45
    El Paso Corp
    7.750
    01/15/2032
    BB
    U.S.
    USD
    2.25
    Embarq Corp
    7.995
    06/01/2036
    BB+
    U.S.
    USD
    2.04
    Barclays Bank Plc
    7.625
    11/21/2022
    BB+
    United Kingdom
    USD
    2.03
    Masco Corp
    6.125
    10/03/2016
    BB
    U.S.
    USD
    1.98
    Springleaf Finance Corp
    6.900
    12/15/2017
    CCC+
    U.S.
    USD
    1.97
    Arcelormittal
    6.125
    06/01/2018
    BB+
    Luxembourg
    USD
    1.96
    Royal Bank Of Scotland Group Plc
    7.640
    03/29/2049
    B+
    United Kingdom
    USD
    1.94
    Regions Bank/Birmingham Al
    6.450
    06/26/2037
    BB+
    U.S.
    USD
    1.79
    Top 10 Total (%)21.37

    †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 08/31/14

    • Country

      % of Net Assets
    • U.S.

      63.2
    • LUXEMBOURG

      8.0
    • UNITED KINGDOM

      7.0
    • FRANCE

      5.4
    • ITALY

      4.9
    • NORWAY

      2.8
    • GERMANY

      2.5
    • FINLAND

      2.0
    • JAPAN

      1.9
    • PORTUGAL

      1.6
    • NEW ZEALAND

      0.6
    • SPAIN

      0.3
    • Other

      -0.2
  • Currency Exposure (%)
    as of 08/31/14

    • U.S. Dollar

      100.22
    • Other

      -0.22
    • Total

      100.00
  • Sector Weightings (%)
    as of 08/31/14

    • Sector

      % of Net Assets
    • Financial

      29.6
    • Communications

      18.3
    • Basic Materials

      14.2
    • Consumer, Non-cyclical

      8.1
    • Consumer, Cyclical

      7.7
    • Energy

      7.3
    • Industrial

      5.8
    • Utilities

      5.8
    • Technology

      2.1
    • Other

      1.0
  • Credit Quality (%)
    as of 08/31/14

    Composite % of Net Assets
    Investment Grade BBB 0.86
    Non-Investment Grade BB 72.56
    B 15.70
    CCC 7.25
    CC 0.27
    Total Investment Grade 0.86
    Total Non-Investment Grade 95.78
    Not rated 3.36
    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 08/31/14

    Average Portfolio Maturity: 10.93 Years