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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 01/25/21
-
30-Day SEC Yield1
3.42% -
Total Net Assets
$4.3B -
Number of Holdings
338 -
Options
Available -
Gross Expense Ratio2
0.43% -
Net Expense Ratio/TER2
0.35% -
Distribution Frequency
Monthly
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
Portfolio Composition (%)
as of 12/31/20
- % of Net Assets
-
Stocks
0.00 -
Bonds
99.78 -
Other
0.00 -
Cash
0.22
Currency Exposure (%)
as of 12/31/20
-
U.S. Dollar
99.78 -
Other/Cash
0.22
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 |
3-YR Risk Measures*
as of 12/31/20
-
Beta vs. S&P 500 Index
0.51 -
Correlation vs. S&P 500 Index
0.83 -
Volatility (Standard Deviation)
11.39 -
Sharpe Ratio
0.56
Source: VanEck, FactSet
*Beta is a measure of sensitivity to market movements. Correlation measures the extent of linear association between the ETF performance and the index performance. Volatility is the annualized standard deviation of the ETF's monthly returns. Sharpe ratio measures risk-adjusted return, and represents the ETF's return less the risk free rate divided by the standard deviation. See S&P 500 Index definition.6
Maturity (%) as of 12/31/20
Average Portfolio Maturity: 10.27 Years
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