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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 01/15/21
-
30-Day SEC Yield1
3.46% -
Total Net Assets
$4.2B -
Number of Holdings
341 -
Options
Available -
Gross Expense Ratio2
0.43% -
Net Expense Ratio/TER2
0.35% -
Distribution Frequency
Monthly
Index Key Points
The ICE US Fallen Angel High Yield 10% Constrained Index (H0CF)
is comprised of:
Below investment grade corporate bonds denominated in U.S. dollars that were rated investment grade at the time of issuance.
Index Weighting:
Index constituents are capitalization-weighted, based on their current amount outstanding subject to a 10% issuer cap.
Index Provider: ICE Data Indices, LLC10
Index Profile
-
Ticker
H0CF -
Inception Date
02/25/2020 -
Rebalance Frequency
Monthly
Index Fundamentals4
as of 01/15/21
-
Yield to Worst
3.67% -
Yield to Maturity
3.78% -
Effective Duration (yrs)
6.49 -
Years to Maturity
9.62 -
Coupon
5.12%
Top 10 Constituents (%) as of 12/31/20
to view
full data
Constituent Name |
Coupon
|
Maturity | Weighting (%) | |
---|---|---|---|---|
Carnival Corp |
0.000
|
04/01/2023
|
1.88 | |
Sprint Capital Corp |
6.875
|
11/15/2028
|
1.30 | |
Kraft Heinz Foods Co |
0.000
|
06/01/2046
|
1.28 | |
Sprint Capital Corp |
8.750
|
03/15/2032
|
1.27 | |
Occidental Petroleum Cor |
0.000
|
08/15/2024
|
1.16 | |
Royal Caribbean Cruises |
0.000
|
06/01/2025
|
1.12 | |
Vodafone Group Plc |
0.000
|
04/04/2079
|
1.00 | |
Kraft Heinz Foods Co |
0.000
|
07/15/2045
|
0.96 | |
Ford Motor Company |
7.450
|
07/16/2031
|
0.93 | |
Freeport-Mcmoran Inc |
5.450
|
03/15/2043
|
0.93 | |
Top 10 Total (%) | 11.83 |
Index Country Weightings (%) as of 12/31/20
-
Country
% of Net Assets -
■
United States
84.05 -
■
Canada
4.62 -
■
Italy
3.05 -
■
United Kingdom
2.42 -
■
Germany
1.91 -
■
France
1.61 -
■
Luxembourg
1.57 -
■
Finland
0.26 -
■
Australia
0.19 -
■
Puerto Rico
0.16 -
■
Ireland
0.15
Index Sector Weightings (%) as of 12/31/20
-
Sector
% of Net Assets -
■
Energy
28.6 -
■
Consumer, Cyclical
22.4 -
■
Consumer, Non-cyclical
11.4 -
■
Financial
8.9 -
■
Communications
7.9 -
■
Basic Materials
7.8 -
■
Utilities
6.1 -
■
Technology
3.7 -
■
Industrial
3.1
Index Credit Quality (%) as of 12/31/20
Composite | % of Net Assets | |
---|---|---|
Non-Investment Grade | BB | 94.56 |
B | 3.96 | |
CCC | 1.29 | |
C | 0.19 | |
Total Non-Investment Grade | -- | 100.00 |
Not Rated | -- | -- |
Maturity (%) as of 12/31/20
Average Maturity: 9.64 Years