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ANGL
VanEck Vectors Fallen Angel High Yield Bond ETF

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 BofAML US Fallen Angel High Yield Index (H0FA), 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

    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
  • 2019 Preliminary NAIC
    Designation11

    4

 
as of 08/16/19

  • 30-Day SEC Yield1

    5.36%
  • Total Net Assets

    $1.1B
  • Number of Holdings

    198
  • Options

    Available
  • Gross Expense Ratio2

    0.44%
  • Net Expense Ratio/TER2

    0.35%
  • Distribution Frequency

    Monthly
  • Next Distribution Date

    08/30/2019

Morningstar™ Ratings3
as of 07/31/2019

Category Overall 3 Year 5 Year
High Yield Bond
5 stars of 613 funds
5 stars of 613 funds
5 stars of 530 funds

Key Points

  • Higher Quality High Yield
    Fallen angels, high yield bonds originally issued as investment grade corporate bonds, have had historically higher average credit quality than the broad high yield bond universe7
     
  • Outperformed Broad High Yield Bond Market
    Fallen angels have outperformed the broad high yield bond market in 11 of the last 15 calendar years8
     
  • Higher Risk-Adjusted Returns than Broad High Yield Bond Market
    Fallen angels have historically offered a better risk/reward trade off than found with the broad high yield bond market9

Yield
as of 08/16/19

  • 30-Day SEC Yield1

    5.36%
  • Distribution Yield1

    5.53%
  • 12-Month Yield1

    5.53%
 1 See Important Disclosure for definitions.

Fees & Expenses2

  • Management Fee

    0.40%
  • Other Expenses

    0.04%
  • Acquired Fund Fees and Expenses

    --
  • Gross Expense Ratio

    0.44%
  • Fee Waivers and
    Expense Reimbursement

    -0.09%
  • Net Expense Ratio/TER2

    0.35%
2Expenses for ANGL are capped contractually at 0.35% until September 1, 2019. Cap excludes acquired fund fees and expenses, interest expense, trading expenses, taxes and extraordinary expenses.

Trading Information

  • Fund Ticker

    ANGL
  • Index Total Return Ticker

    H0FA
  • NAV

    ANGLNV
  • Intraday NAV (IIV)5

    ANGLIV
  • Shares Outstanding

    37,450,000
  • Estimated Cash

    ANGLEU
  • Total Cash

    ANGLTC
  • CUSIP

    92189F437
  • ISIN

    US92189F4375
5See IIV Details. Source: Bloomberg

Fundamentals4
as of 08/15/19

  • Yield to Worst

    5.90%
  • Yield to Maturity

    5.92%
  • Effective Duration (yrs)

    5.68
  • Years to Maturity

    10.79
  • Coupon

    5.68%
 4 See Important Disclosure for definitions.

Prices as of 08/16/19

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 $28.80
$28.88
491,880
231,464
$0.02 / +0.05%
$0.15 / +0.52%
+11.06%
+12.20%
$0.08
0.26%

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) 1.07 2.58 12.77 6.82 7.19 7.00 -- 8.31
ANGL (Share Price) 0.64 2.31 13.67 7.07 7.17 6.96 -- 8.32
H0FA (Index) 1.11 2.64 12.46 7.16 7.68 7.58 11.43 9.36
Performance Differential (NAV - Index) -0.04 -0.06 0.31 -0.34 -0.49 -0.58 -- -1.05
LBUSTRUU (Broad-based Index) 0.22 3.28 6.35 8.08 2.17 3.05 3.75 2.72
1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
04/10/12
ANGL (NAV) 2.90 2.96 11.57 6.92 7.70 6.56 -- 8.25
ANGL (Share Price) 3.79 3.34 12.94 8.08 7.52 6.69 -- 8.33
H0FA (Index) 2.92 3.09 11.23 7.25 8.24 7.17 11.80 9.31
Performance Differential (NAV - Index) -0.02 -0.13 0.34 -0.33 -0.54 -0.61 -- -1.06
LBUSTRUU (Broad-based Index) 1.26 3.08 6.11 7.87 2.31 2.95 3.90 2.72

Top 10 Holdings (%) as of 07/31/19 Daily Holdings

Total Holdings: 202
Swipe
to view
full data
Holding Name
Coupon
Maturity
Composite
Rating
Country
Currency
% of Net
Assets
Sprint Capital Corp
6.875
11/15/2028
B
Japan
USD
2.60
Sprint Capital Corp
8.750
03/15/2032
B
Japan
USD
2.41
Intesa Sanpaolo Spa
5.017
06/26/2024
BB+
Italy
USD
1.91
Freeport-Mcmoran Inc
3.875
03/15/2023
BB+
U.S.
USD
1.84
Freeport-Mcmoran Inc
3.550
03/01/2022
BB+
U.S.
USD
1.82
Freeport-Mcmoran Inc
5.450
03/15/2043
BB+
U.S.
USD
1.67
Goldman Sachs Capital I
6.345
02/15/2034
BB+
U.S.
USD
1.43
Embarq Corp
7.995
06/01/2036
BB
U.S.
USD
1.39
Deutsche Bank Ag
4.500
04/01/2025
BB+
Germany
USD
1.35
Deutsche Bank Ag
4.296
05/24/2028
BB+
Germany
USD
1.31
Top 10 Total (%) 17.73

These are not recommendations to buy or to sell any security. Securities and holdings may vary.

†See Country of Risk disclosure. These are not recommendations to buy or to sell any security. Securities and holdings may vary. 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.

Country Weightings (%) as of 07/31/19

  • Country

    % of Net Assets
  • United States

    76.55
  • Italy

    6.31
  • Japan

    5.01
  • United Kingdom

    4.14
  • Germany

    3.94
  • Canada

    1.30
  • Sweden

    0.98
  • China

    0.78
  • Finland

    0.54
  • Ireland

    0.32
  • Other/Cash

    0.12

Currency Exposure (%)
as of 07/31/19

  • U.S. Dollar

    99.88
  • Other/Cash

    0.12

Sector Weightings (%) as of 07/31/19

  • Sector

    % of Net Assets
  • Energy

    18.8
  • Communications

    17.8
  • Financial

    17.5
  • Basic Materials

    17.4
  • Consumer, Cyclical

    10.7
  • Technology

    9.1
  • Industrial

    4.2
  • Consumer, Non-cyclical

    3.8
  • Utilities

    0.7
  • Other/Cash

    0.1

Credit Quality (%) as of 07/31/19

Composite % of Net Assets
Non-Investment Grade BB 75.45
B 16.67
CCC 5.40
CC 0.71
Total Non-Investment Grade -- 98.22
Not Rated -- 1.63
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 07/31/19

 Average Portfolio Maturity: 10.76 Years