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ANGL
VanEck Vectors Fallen Angel High Yield Bond ETF

  • With over $140B of new fallen angel high yield bonds through July, 2020 is already a record year, and we expect an additional $100 to $150 billion of additional volume for the remainder of the year. Source: VanEck, as of 7/31/2020.
  • 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.

Read More about fallen angels in our most recent blog.

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.

Why ANGL?

 
 

  • 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 Preliminary NAIC
    Designation11

    3

 
as of 08/12/20

  • 30-Day SEC Yield1

    4.49%
  • Total Net Assets

    $2.8B
  • Number of Holdings

    330
  • Options

    Available
  • Gross Expense Ratio2

    0.45%
  • Net Expense Ratio/TER2

    0.35%
  • Distribution Frequency

    Monthly

Country Weightings (%) as of 07/31/20

  • Country

    % of Net Assets
  • United States

    80.36
  • United Kingdom

    3.89
  • Italy

    3.35
  • Canada

    3.32
  • Germany

    2.05
  • France

    1.74
  • Luxembourg

    1.67
  • Australia

    1.12
  • Sweden

    0.49
  • China

    0.39
  • Finland

    0.30
  • Brazil

    0.24
  • Ireland

    0.16
  • Saudi Arabia

    0.12
  • Other/Cash

    0.81

Portfolio Composition (%)
as of 07/31/20

  • % of Net Assets
  • Stocks

    0.00
  • Bonds

    99.19
  • Other

    0.00
  • Cash

    0.81

Currency Exposure (%)
as of 07/31/20

  • U.S. Dollar

    99.19
  • Other/Cash

    0.81

Credit Quality (%) as of 07/31/20

Composite % of Net Assets
Non-Investment Grade BB 92.23
B 5.38
CCC 1.33
DDD 0.11
Total Non-Investment Grade -- 99.05
Not Rated -- 0.14
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.

3-YR Risk Measures*
as of 07/31/20

  • Beta vs. S&P 500 Index

    0.51
  • Correlation vs. S&P 500 Index

    0.82
  • Volatility (Standard Deviation)

    10.35
  • Sharpe Ratio

    0.26

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 07/31/20

 Average Portfolio Maturity: 12.25 Years

Sector Weightings (%) as of 07/31/20

  • Sector

    % of Net Assets
  • Energy

    29.8
  • Consumer, Cyclical

    21.3
  • Consumer, Non-cyclical

    11.8
  • Financial

    9.9
  • Communications

    9.7
  • Basic Materials

    8.4
  • Industrial

    3.3
  • Technology

    2.6
  • Utilities

    2.4
  • Other/Cash

    0.8