UCTGFA VanEck Global Fallen Angel High Yield Bond UCITS ETF Please read important disclosure Close important disclosure true uk en false false
GFA

Fallen Angels ETF
VanEck Global Fallen Angel High Yield Bond UCITS ETF

GFA

Fallen Angels ETF
VanEck Global Fallen Angel High Yield Bond UCITS ETF

ISIN: IE00BF540Z61 copy-icon

Fund Description

The VanEck Global Fallen Angel High Yield Bond UCITS ETF is a straightforward way to profit from the well-known anomaly of Fallen Angels – investment grade bonds that have been downgraded to high yield. They are often oversold due to restrictions placed on institutional investors and tend to outperform the broad High Yield sector, while on average having higher credit quality.

  • NAV
    $64.05

    as of 17 May 2024
  • YTD RETURNS
    2.03%

    as of 17 May 2024
  • Total Net Assets
    $51.0 million

    as of 17 May 2024
  • Total Expense Ratio
    0.40%
  • Inception Date
    19 Mar 2018
  • SFDR Classification
    Article 6

Overview

Fund Description

The VanEck Global Fallen Angel High Yield Bond UCITS ETF is a straightforward way to profit from the well-known anomaly of Fallen Angels – investment grade bonds that have been downgraded to high yield. They are often oversold due to restrictions placed on institutional investors and tend to outperform the broad High Yield sector, while on average having higher credit quality.

  • A history of outperformance versus the high-yield bond universe1
  • Take advantage of a market anomaly
  • Currently higher average credit quality than ordinary high-yield issuers
  • Diversification across countries and sectors
  • Issued in USD, GBP, EUR and CAD
  • Currently amongst the lowest total expense ratios in UCITS Fallen Angel ETFs (0.4%)


1Past performance is not a reliable indicator for future performance. Risk factors: Foreign Currency Risk, Emerging Markets Risk, High Yield Securities Risk. Please refer to the

KIID

and the Prospectus for other important information before investing.



Underlying Index

ICE Global Fallen Angel High Yield 10% Constrained Index

Fund Highlights

  • A history of outperformance versus the high-yield bond universe1
  • Take advantage of a market anomaly
  • Currently higher average credit quality than ordinary high-yield issuers
  • Diversification across countries and sectors
  • Issued in USD, GBP, EUR and CAD
  • Currently amongst the lowest total expense ratios in UCITS Fallen Angel ETFs (0.4%)


1Past performance is not a reliable indicator for future performance. Risk factors: Foreign Currency Risk, Emerging Markets Risk, High Yield Securities Risk. Please refer to the

KIID

and the Prospectus for other important information before investing.



Underlying Index

ICE Global Fallen Angel High Yield 10% Constrained Index

Performance

Holdings

Portfolio

Literature

Index

Index Description

The ICE Global Fallen Angel High Yield 10% Constrained Index is comprised of below investment grade corporate bonds denominated in US dollar, Canadian dollar, British pound sterling and Euro, that were rated investment grade at the time of issuance and that are publicly issued in the major domestic or eurobond markets.  

Index Key Points

Underlying Index
ICE Global Fallen Angel High Yield 10% Constrained Index


Index Characteristics
The Index tracks the performance of USD, CAD, GBP and EUR denominated below investment grade corporate debt publicly issued in the major domestic or eurobond markets and that were rated investment grade at the point of issuance.

 

Qualifying securities must have a below investment grade rating (based on an average of Moody’s, S&P and Fitch), at least 18 months to final maturity at the time of issuance, at least one year remaining term to final maturity as of the rebalancing date, and a fixed coupon schedule.

 

Liquidity

Bonds must have minimum amount outstanding of USD 250 million, EUR 250 million, GBP 100 million, or CAD 100 million.


Weighting Methodology
Index constituents are market capitalization weighted, provided the total allocation to an individual issuer does not exceed 10%.

 

Accrued interest is calculated assuming next-day settlement.

 

Monthly Rebalance
Rebalance day occurs on the last calendar day of the month, based on information available up to and including the third business day before the last business day of the month. 
 
No changes are made to constituent holdings other than on month end rebalancing dates.

 

Index Provider
ICE Data Indices, LLC

For more information about the index please click here

 

Please note that GFA’s underlying index has changed on 31 July 2020. Prior to 31 July 2020 the underlying index was ICE Global Fallen Angel High Yield Index (HWFA).