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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 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
    • Index Total Return Ticker

      H0FA
    • Index Provider

      BofA Merrill Lynch
    • Total Net Assets

      $16.6M
    • Shares Outstanding

      600,000
    • Number of Holdings

      94
    • Commencement Date

      04/10/2012
  •  
    as of 04/17/14

  • 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 04/17/14

    • 30-Day SEC Yield1

      4.12%
    • Distribution Yield1

      5.65%
    • 12-Month Yield1

      5.61%
     1 See Important Disclosure for definitions.
  • Fees & Expenses2

    • Management Fee

      0.40%
    • Other Expenses

      1.08%
    • Acquired Fund Fees and Expenses

      --
    • Gross Expense Ratio

      1.48%
    • Fee Waivers and
      Expense Reimbursement

      (1.08)%
    • Net Expense Ratio

      0.40%
    2Expenses for ANGL are capped contractually at 0.40% until 09/01/14. Cap excludes certain expenses, such as interest. 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 04/16/14

    • Yield to Worst

      4.58%
    • Yield to Maturity

      4.68%
    • Effective Duration (yrs)

      5.19
    • Modified Duration (yrs)

      6.67
    • Duration to Worst (yrs)

      6.44
    • Spread Duration (yrs)

      5.77
    • Years to Maturity

      11.33
    • Coupon

      6.60%
     4 See Important Disclosure for definitions.
  • Prices as of 04/17/14

    TickerNAV/
    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 $27.62
    $27.70
    3,296
    4,424
    $-0.02 / -0.1%
    $0.04 / +0.1%
    + 2.7%
    + 2.4%

    $0.08
    0.29%
  • 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) 0.25 4.29 4.29 7.84 -- -- -- 11.63
    ANGL (Share Price) -0.33 3.30 3.30 6.54 -- -- -- 11.40
    H0FA (Index) 0.44 3.08 3.08 9.11 10.90 21.39 10.29 13.88
    Performance Differential (NAV - Index) -0.19 1.21 1.21 -1.27 -- -- -- -2.25
    After Tax Held -- -- -- 5.09 -- -- -- 8.96
    After Tax Sold -- -- -- 4.41 -- -- -- 7.77
    1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR LIFE
    04/10/12
    ANGL (NAV) 0.25 4.29 4.29 7.84 -- -- -- 11.63
    ANGL (Share Price) -0.33 3.30 3.30 6.54 -- -- -- 11.40
    H0FA (Index) 0.44 3.08 3.08 9.11 10.90 21.39 10.29 13.88
    Performance Differential (NAV - Index) -0.19 1.21 1.21 -1.27 -- -- -- -2.25
    After Tax Held -- -- -- 5.09 -- -- -- 8.96
    After Tax Sold -- -- -- 4.41 -- -- -- 7.77
  • View All Holdings » Top 10 Holdings (%) as of 03/31/14

    Total Holdings: 94
    Holding Name
    Coupon
    Maturity
    Composite
    Rating
    Country
    Currency
    % of Net
    Assets
    Arcelormittal
    6.000
    03/01/2021
    BB+
    Luxembourg
    USD
    2.93
    Slm Corp
    8.450
    06/15/2018
    BB+
    U.S.
    USD
    2.55
    Arcelormittal
    7.250
    03/01/2041
    BB+
    Luxembourg
    USD
    2.14
    Masco Corp
    6.125
    10/03/2016
    BB
    U.S.
    USD
    2.05
    Barclays Bank Plc
    7.625
    11/21/2022
    BB+
    United Kingdom
    USD
    2.05
    Springleaf Finance Corp
    6.900
    12/15/2017
    CCC+
    U.S.
    USD
    2.04
    Arcelormittal
    6.125
    06/01/2018
    BB+
    Luxembourg
    USD
    2.03
    El Paso Corp
    7.750
    01/15/2032
    BB
    U.S.
    USD
    1.98
    Lafarge Sa
    5.500
    07/09/2015
    BB+
    France
    USD
    1.95
    Embarq Corp
    7.995
    06/01/2036
    BB+
    U.S.
    USD
    1.95
    Top 10 Total (%) 21.67

    †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 03/31/14

    • Country

      % of Net Assets
    • U.S.

      60.4
    • LUXEMBOURG

      8.5
    • UNITED KINGDOM

      7.6
    • ITALY

      4.6
    • FRANCE

      4.5
    • NORWAY

      3.3
    • JAPAN

      3.0
    • GERMANY

      2.0
    • FINLAND

      2.0
    • PORTUGAL

      1.7
    • NEW ZEALAND

      0.7
    • SWITZERLAND

      0.7
    • IRELAND

      0.6
    • Other

      0.6
    • Total

      100.2
  • Currency Exposure (%)
    as of 03/31/14

    • U.S. Dollar

      99.42
    • Other

      0.58
    • Total

      100.00
  • Sector Weightings (%)
    as of 03/31/14

    • Sector

      % of Net Assets
    • Financial

      31.7
    • Communications

      18.9
    • Basic Materials

      11.6
    • Industrial

      8.4
    • Consumer, Non-cyclical

      7.8
    • Energy

      7.5
    • Consumer, Cyclical

      6.6
    • Utilities

      4.9
    • Technology

      2.0
    • Other

      0.6
    • Total

      100.0
  • Credit Quality (%)
    as of 03/31/14

    Composite % of Net Assets
    Investment Grade BBB 0.88
    Non-Investment Grade BB 73.19
    B 16.35
    CCC 6.00
    CC 1.23
    Total Investment Grade 0.88
    Total Non-Investment Grade 96.77
    Not rated 2.36
    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 03/31/14

    Average Portfolio Maturity: 11.34 Years