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ANGL
VanEck Vectors Fallen Angel High Yield Bond ETF

Latest Market Updates*

  • With over $150B of new fallen angel high yield bonds through September, 2020 is already a record year, and we expect an additional $100B to $125B of additional volume for the remainder of the year. Source: ICE Data Indices, as of 9/30/2020.
  • With this oncoming wave of downgrades, we expect to see a similar technical pattern of forced selling as we have historically.
  • We believe new bonds entering the index may come in at deeper than average discounts.

Listen to a recent ETF Prime podcast on fallen angels.

Fund Description

The VanEck Vectors® Fallen Angel High Yield Bond ETF (ANGL®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the ICE US Fallen Angel High Yield 10% Constrained Index (H0CF), which is comprised of below investment grade corporate bonds denominated in U.S. dollars, issued in the U.S. domestic market and that were rated investment grade at the time of issuance.

 
 

  • Fund Ticker

    ANGL
  • Exchange

    NASDAQ
  • ETF Structure

    Physical
  • Administrator

    Van Eck Associates
  • Custodian

    State Street Bank and Trust Company
  • Index Ticker

    H0CF
  • Index Rebalancing

    Monthly
  • 2020 NAIC Designation11

    3

 
as of 10/23/20

  • 30-Day SEC Yield1

    4.63%
  • Total Net Assets

    $3.3B
  • Number of Holdings

    329
  • Options

    Available
  • Gross Expense Ratio2

    0.43%
  • Net Expense Ratio/TER2

    0.35%
  • Distribution Frequency

    Monthly

Index Key Points

The ICE US Fallen Angel High Yield 10% Constrained Index (H0CF)
is comprised of:

Below investment grade corporate bonds denominated in U.S. dollars that were rated investment grade at the time of issuance.

Index Weighting:
Index constituents are capitalization-weighted, based on their current amount outstanding subject to a 10% issuer cap.

Index Provider: ICE Data Indices, LLC10

 

Index Profile

  • Ticker

    H0CF
  • Inception Date

    02/25/2020
  • Rebalance Frequency

    Monthly

Index Fundamentals4
as of 10/23/20

  • Yield to Worst

    4.91%
  • Yield to Maturity

    4.99%
  • Effective Duration (yrs)

    6.45
  • Years to Maturity

    10.41
  • Coupon

    5.39%
 4 See Important Disclosure for definitions.

Top 10 Constituents (%) as of 09/30/20

Total Constituents: 321
Swipe
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full data
Constituent Name
Coupon
Maturity Weighting (%)
Carnival Corp
0.000
04/01/2023
1.96
Sprint Capital Corp
6.875
11/15/2028
1.38
Kraft Heinz Foods Co
0.000
06/01/2046
1.36
Sprint Capital Corp
8.750
03/15/2032
1.28
Royal Caribbean Cruises
0.000
06/01/2025
1.20
Occidental Petroleum Cor
0.000
08/15/2024
1.12
Vodafone Group Plc
0.000
04/04/2079
1.07
Kraft Heinz Foods Co
0.000
07/15/2045
0.96
Kraft Heinz Foods Co
0.000
06/04/2042
0.96
Electricite De France Sa
0.000
01/01/1900
0.96
Top 10 Total (%) 12.25
These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Index Country Weightings (%) as of 09/30/20

  • Country

    % of Net Assets
  • United States

    82.80
  • Canada

    4.62
  • Italy

    3.28
  • United Kingdom

    2.57
  • Germany

    2.04
  • France

    1.74
  • Luxembourg

    1.64
  • Sweden

    0.49
  • Finland

    0.29
  • Australia

    0.21
  • Ireland

    0.17
  • Puerto Rico

    0.15

Index Sector Weightings (%) as of 09/30/20

  • Sector

    % of Net Assets
  • Energy

    29.5
  • Consumer, Cyclical

    24.0
  • Consumer, Non-cyclical

    12.1
  • Communications

    9.5
  • Financial

    8.6
  • Basic Materials

    8.1
  • Industrial

    3.2
  • Technology

    2.6
  • Utilities

    2.4

Index Credit Quality (%) as of 09/30/20

Composite % of Net Assets
Investment Grade BBB 2.75
Non-Investment Grade BB 90.58
B 4.97
CCC 1.39
CC 0.07
Total Investment Grade -- 2.75
Total Non-Investment Grade -- 97.00
Not Rated -- 0.25
Source: Bloomberg. Rating is a proprietary composite of various rating agencies. A bond must be rated by two or more rating agencies to receive a composite rating; otherwise it is classified as Not Rated.

Maturity (%) as of 09/30/20

 Average Maturity: 10.48 Years