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ANGL
VanEck Fallen Angel High Yield Bond ETF

Fund Description

The VanEck 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

  • Inception Date

    04/10/2012

  • ETF Structure

    Physical

  • Administrator

    Van Eck Associates

  • Index Ticker

    H0CF

  • Index Rebalancing

    Monthly

  • 2022 Preliminary NAIC Designation11

    3.B

 
as of 06/27/22

  • 30-Day SEC Yield1

    6.40%

  • Total Net Assets

    $3.2B

  • Number of Holdings

    215

  • Options

    Available

  • Gross Expense Ratio2

    0.35%

  • Net Expense Ratio/TER2

    0.35%

  • Distribution Frequency

    Monthly

  • Next Distribution Date

    06/30/2022
Schedule a Call
Why Invest?
How to Buy
Recommended Insights - Fallen Angel Bonds: Question & Answer
Recommended Insights - Fallen Angel Bonds: Question & Answer

Morningstar™ Ratings3
as of 05/31/2022

Category Overall 3 Year 5 Year
High Yield Bond
5 stars of 631 funds
5 stars of 631 funds
5 stars of 576 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 14 of the last 18 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 06/27/22

  • 30-Day SEC Yield1

    6.40%

  • Distribution Yield1

    4.81%

  • 12-Month Yield1

    4.47%
 1 See Important Disclosure for definitions.

Fees and Expenses2

  • Management Fee

    0.35%

  • Other Expenses

    --

  • Acquired Fund Fees and Expenses

    --

  • Gross Expense Ratio

    0.35%

  • Fee Waivers and
    Expense Reimbursement

    --

  • Net Expense Ratio/TER2

    0.35%

2'Van Eck Associates Corporation (the “Adviser”) will pay all expenses of the Fund, except for the fee payment under the investment management agreement, acquired fund fees and expenses, interest expense, offering costs, trading expenses, taxes and extraordinary expenses. Notwithstanding the foregoing, the Adviser has agreed to pay the offering costs until at least September 1, 2022.'

Trading Information

  • Fund Ticker

    ANGL

  • Index Total Return Ticker

    H0CF

  • NAV

    ANGLNV

  • Intraday NAV (IIV)5

    ANGLIV

  • Shares Outstanding

    115,450,000

  • Estimated Cash

    ANGLEU

  • Total Cash

    ANGLTC

  • CUSIP

    92189F437

  • ISIN

    US92189F4375
5See IIV Details. Source: Bloomberg

Fundamentals4
as of 06/27/22

  • Yield to Worst

    6.97%

  • Yield to Maturity

    7.00%

  • Effective Duration (yrs)

    5.71

  • Years to Maturity

    10.83

  • Coupon

    5.47%
 4See Important Disclosure for definitions.

Investment Professionals

  • Head of Fixed Income ETF Portfolio Management
  • Responsible for portfolio strategies as well as credit and market analysis; specializes in international bond markets
  • Joined VanEck in 2012
  • Prior to VanEck, Managing Director of Global Emerging Markets with The Seaport Group; launched the firm’s emerging markets fixed income sales and trading business
  • Previously, held portfolio management positions at Greylock Capital and Soundbrook Capital; focused on corporate high-yield and distressed bonds with an emphasis on emerging markets
  • CFA charterholder; member of CFA Society New York
  • MBA (with distinction), Finance, University of Pennsylvania
  • AB, History, Princeton University
  • Associate Portfolio Manager for Fixed Income ETFs
  • Joined VanEck in 2013
  • Prior to his current role, held a portfolio administration position for the firm’s alternative investment funds
  • MS, Finance, University of Rochester
  • BS, Information Sciences and Technology, Pennsylvania State University
  • Associate Portfolio Manager for Fixed Income ETFs
  • Joined VanEck in 2016
  • MS, Financial Engineering, Baruch College
  • BBA, Finance, Baruch College
  • Senior Trader, Portfolio Analyst for Fixed Income ETFs
  • Joined VanEck in 2017
  • Previously, Trader at Beck, Mack & Oliver LLC and monitored markets and executed equity and fixed income trades and Fixed Income Operations at Gleacher & Company Securities, Inc.
  • MBA, Finance, Montclair State University
  • BS, concentration in Accounting and Finance, minor in Computer Science, University of Vermont

Prices as of 06/27/22

NAV/
Market
Price 		Volume
30-Day Avg./
Last Trading Day 		Daily Change
NAV/
Last Price 		YTD Change NAV/
Last Price 		Premium/
Discount 		30-Day
Median
Bid Ask
Spread 		NAV
Chart
ANGL $27.39
$27.35 		2,808,400
1,762,376 		$-0.01 / -0.05%
$-0.16 / -0.58% 		-15.40%
-15.61% 		$-0.04
-0.15% 		0.04%

Premium/Discount History as of 06/27/22

Calendar Year 2021 2Q 2021 3Q 2021 4Q 2021 1Q 2022 Premium/Discount Charts NAV & Prem/Discount History
Days closed at a premium 196 56 51 43 24
ANGL Days closed at NAV 12 0 4 3 2
Days closed at a discount 44 7 9 18 36

Performance History: Average Annual Total Returns* (%)
View All ETFs View All Indices

  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
04/10/12
ANGL (NAV) 0.47 -5.30 -10.87 -6.41 5.36 4.54 7.21 7.15
ANGL (Share Price) 1.93 -4.91 -10.58 -6.13 5.63 4.65 7.24 7.20
H0CF (Index) 0.41 -5.24 -10.82 -6.08 5.96 5.06 8.10 8.08
Performance Differential (NAV - Index) 0.06 -0.06 -0.05 -0.33 -0.60 -0.52 -0.89 -0.93
  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
04/10/12
ANGL (NAV) -1.27 -7.08 -7.08 -0.55 6.85 5.81 -- 7.73
ANGL (Share Price) -1.34 -7.22 -7.22 -1.06 6.78 5.72 -- 7.72
H0CF (Index) -1.22 -7.04 -7.04 -0.04 7.49 6.35 8.64 8.67
Performance Differential (NAV - Index) -0.05 -0.04 -0.04 -0.51 -0.64 -0.54 -- -0.94

*Returns less than one year are not annualized.
Index data on and prior to February 28, 2020 reflects that of the ICE BofA US Fallen Angel High Yield Index (H0FA). From February 28, 2020 forward, the index data reflects that of the Fund's underlying index, the ICE US Fallen Angel High Yield 10% Constrained Index (H0CF). Index history which includes periods prior to February 28, 2020 links H0FA and H0CF and is not intended for third party use.

The performance data quoted represents past performance. Past performance is not a guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted. Please call 800.826.2333 or visit vaneck.com for performance current to the most recent month ended.

The "Net Asset Value" (NAV) of a Fund is determined at the close of each business day, and represents the dollar value of one share of the fund; it is calculated by taking the total assets of the fund, subtracting total liabilities, and dividing by the total number of shares outstanding. The NAV is not necessarily the same as the ETF 's intraday trading value. Investors should not expect to buy or sell shares at NAV.

Top 10 Holdings (%) as of 05/31/22 Daily Holdings

Total Holdings: 219
Swipe
to view
full data
Holding Name
Coupon
 Maturity
Country‡
Currency
 % of Net
Assets
Sprint Capital Corp
6.875
 11/15/2028
United States
USD
 2.29
Sprint Capital Corp
8.750
 03/15/2032
United States
USD
 2.17
Vodafone Group Plc
7.000
 04/04/2079
United Kingdom
USD
 1.72
Intesa Sanpaolo Spa
5.017
 06/26/2024
Italy
USD
 1.66
Newell Brands Inc
4.200
 04/01/2026
United States
USD
 1.61
Firstenergy Corp
7.375
 11/15/2031
United States
USD
 1.46
Occidental Petroleum Corp
6.450
 09/15/2036
United States
USD
 1.34
Royal Caribbean Cruises Ltd
11.500
 06/01/2025
United States
USD
 1.28
Electricite De France Sa
5.625
 01/22/2168
France
USD
 1.27
Deutsche Bank Ag
4.500
 04/01/2025
Germany
USD
 1.25
Top 10 Total (%) 16.05

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

‡See Country of Risk disclosure. 

Country Weightings (%) as of 05/31/22

  • Country

    % of Net Assets
  • ■

    United States

    80.42
  • ■

    Italy

    4.62
  • ■

    United Kingdom

    3.44
  • ■

    Germany

    3.29
  • ■

    Australia

    1.92
  • ■

    Ireland

    1.90
  • ■

    Canada

    1.64
  • ■

    France

    1.27
  • ■

    Finland

    0.42
  • ■

    Other/Cash

    1.09

Currency Exposure (%)
as of 05/31/22

  • U.S. Dollar

    98.91

  • Other/Cash

    1.09

Sector Weightings (%) as of 05/31/22

  • Sector

    % of Net Assets
  • ■

    Energy

    29.2
  • ■

    Technology

    16.4
  • ■

    Consumer Cyclicals

    16.2
  • ■

    Financials

    13.3
  • ■

    Industrials

    7.9
  • ■

    Utilities

    6.9
  • ■

    Real Estate

    3.7
  • ■

    Basic Materials

    2.7
  • ■

    Healthcare

    2.5
  • ■

    Consumer Non-Cyclicals

    0.2
  • ■

    Other/Cash

    1.1

Credit Quality (%)† as of 05/31/22

Composite % of Net Assets
Investment Grade BBB 0.29
Non-Investment Grade BB 85.29
B 11.68
CCC 1.96
C 0.52
Total Investment Grade -- 0.29
Total Non-Investment Grade -- 99.46
Not Rated -- 0.25

Maturity (%) as of 05/31/22

Average Portfolio Maturity: 10.80 Years