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ANGLVanEck Vectors Fallen Angel High Yield Bond ETF
Latest Market Updates*
- ANGL’s index has consistently outperformed the broad high yield index in a variety of market conditions, with outperformance in 13 of the past 17 years.
- Long-term performance has been driven by buying new fallen angels at deep discounts, a higher quality tilt, and sector positioning.
- 2020 performance has been driven by record volume of new fallen angels; we expect further downgrade in 2021, however as the pace slows we expect the other drivers of performance to play an important role in returns going forward.
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.C
as of 01/20/21
-
30-Day SEC Yield1
3.43% -
Total Net Assets
$4.3B -
Number of Holdings
341 -
Options
Available -
Gross Expense Ratio2
0.43% -
Net Expense Ratio/TER2
0.35% -
Distribution Frequency
Monthly
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 13 of the last 17 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 01/20/21
-
30-Day SEC Yield1
3.43% -
Distribution Yield1
4.71% -
12-Month Yield1
4.64%
Fees & Expenses2
-
Management Fee
0.40% -
Other Expenses
0.03% -
Acquired Fund Fees and Expenses
-- -
Gross Expense Ratio
0.43% -
Fee Waivers andExpense Reimbursement
-0.08% -
Net Expense Ratio/TER2
0.35%
Trading Information
-
Fund Ticker
ANGL -
Index Total Return Ticker
H0CF -
NAV
ANGLNV -
Intraday NAV (IIV)5
ANGLIV -
Shares Outstanding
132,100,000 -
Estimated Cash
ANGLEU -
Total Cash
ANGLTC -
CUSIP
92189F437 -
ISIN
US92189F4375
Fundamentals4
as of 01/19/21
-
Yield to Worst
3.67% -
Yield to Maturity
3.81% -
Effective Duration (yrs)
6.66 -
Years to Maturity
10.30 -
Coupon
5.19%
Prices as of 01/20/21
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) | 2.12 | 9.02 | 13.33 | 13.33 | 7.98 | 11.59 | -- | 8.88 |
ANGL (Share Price) | 2.35 | 9.28 | 13.18 | 13.18 | 8.06 | 11.72 | -- | 8.93 |
H0CF (Index) | 2.63 | 9.74 | 14.06 | 14.06 | 8.42 | 12.13 | 9.70 | 9.95 |
Performance Differential (NAV - Index) | -0.51 | -0.72 | -0.73 | -0.73 | -0.44 | -0.54 | -- | -1.07 |
1 MO | 3 MO | YTD | 1 YR | 3 YR | 5 YR | 10 YR | LIFE 04/10/12 |
|
---|---|---|---|---|---|---|---|---|
ANGL (NAV) | 2.12 | 9.02 | 13.33 | 13.33 | 7.98 | 11.59 | -- | 8.88 |
ANGL (Share Price) | 2.35 | 9.28 | 13.18 | 13.18 | 8.06 | 11.72 | -- | 8.93 |
H0CF (Index) | 2.63 | 9.74 | 14.06 | 14.06 | 8.42 | 12.13 | 9.70 | 9.95 |
Performance Differential (NAV - Index) | -0.51 | -0.72 | -0.73 | -0.73 | -0.44 | -0.54 | -- | -1.07 |
Top 10 Holdings (%) as of 12/31/20 Daily Holdings
to view
full data
Holding Name |
Coupon
|
Maturity |
Composite
Rating |
Country†
|
Currency
|
% of Net Assets |
|
---|---|---|---|---|---|---|---|
CARNIVAL CORP |
11.500
|
04/01/2023
|
BB-
|
United States
|
USD
|
1.95 | |
SPRINT CAPITAL CORP |
6.875
|
11/15/2028
|
BB
|
United States
|
USD
|
1.35 | |
KRAFT HEINZ FOODS CO |
4.375
|
06/01/2046
|
BB+
|
United States
|
USD
|
1.33 | |
SPRINT CAPITAL CORP |
8.750
|
03/15/2032
|
BB
|
United States
|
USD
|
1.31 | |
OCCIDENTAL PETROLEUM CORP |
2.900
|
08/15/2024
|
BB
|
United States
|
USD
|
1.20 | |
ROYAL CARIBBEAN CRUISES LTD |
11.500
|
06/01/2025
|
BB
|
United States
|
USD
|
1.16 | |
VODAFONE GROUP PLC |
7.000
|
04/04/2079
|
BB+
|
United Kingdom
|
USD
|
1.04 | |
KRAFT HEINZ FOODS CO |
5.200
|
07/15/2045
|
BB+
|
United States
|
USD
|
0.99 | |
FREEPORT-MCMORAN INC |
5.450
|
03/15/2043
|
BB+
|
United States
|
USD
|
0.97 | |
KRAFT HEINZ FOODS CO |
5.000
|
06/04/2042
|
BB+
|
United States
|
USD
|
0.95 | |
Top 10 Total (%) | 12.25 |
These are not recommendations to buy or to sell any security. Securities and holdings may vary.
Country Weightings (%) as of 12/31/20
-
Country
% of Net Assets -
■
United States
83.60 -
■
Canada
3.36 -
■
Italy
3.04 -
■
United Kingdom
2.62 -
■
Germany
1.91 -
■
France
1.61 -
■
Luxembourg
1.57 -
■
Australia
1.05 -
■
China
0.37 -
■
Finland
0.27 -
■
Brazil
0.23 -
■
Ireland
0.15 -
■
Other/Cash
0.22
Currency Exposure (%)
as of 12/31/20
-
U.S. Dollar
99.78 -
Other/Cash
0.22
Sector Weightings (%) as of 12/31/20
-
Sector
% of Net Assets -
■
Energy
28.7 -
■
Consumer Cyclicals
20.8 -
■
Technology
11.4 -
■
Consumer Non-Cyclicals
10.2 -
■
Basic Materials
7.2 -
■
Utilities
6.2 -
■
Financials
5.5 -
■
Industrials
5.4 -
■
Real Estate
3.9 -
■
Healthcare
0.5 -
■
Other/Cash
0.2
Credit Quality (%) as of 12/31/20
Composite | % of Net Assets | |
---|---|---|
Non-Investment Grade | BB | 94.31 |
B | 3.98 | |
CCC | 1.30 | |
C | 0.19 | |
Total Non-Investment Grade | -- | 99.78 |
Maturity (%) as of 12/31/20
Average Portfolio Maturity: 10.27 Years