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ANGL - Higher Quality High Yield

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ANGL
VanEck Fallen Angel High Yield Bond ETF

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.1
  • In 2021, we expect quality, rising stars(high yield bonds upgraded to investment grade) and portfolio positioning to be a greater contributor to returns, whereas 2020 returns were driven by record volume of new fallen angels.
  • Historically, ANGL has gone overweight sectors where fundamentals have bottomed out. Exposure to energy was a meaningful contributor to 2020 outperformance vs. the broad high yield index.2

Learn More | Yield Curve Moves Provide Another Tailwind for Fallen Angels

1Source: FactSet. Broad high yield represented by the ICE BofA US High Yield Index.

2Source: FactSet.

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
  • ETF Structure

    Physical
  • Administrator

    Van Eck Associates
  • Custodian

    State Street Bank and Trust Company
  • Index Ticker

    H0CF
  • Index Rebalancing

    Monthly
  • 2021 NAIC Preliminary Designation11

    3.B

 
as of 09/24/21

  • 30-Day SEC Yield1

    2.86%
  • Total Net Assets

    $5.2B
  • Number of Holdings

    285
  • Options

    Available
  • Gross Expense Ratio2

    0.35%
  • Net Expense Ratio/TER2

    0.35%
  • Distribution Frequency

    Monthly
Why Invest?

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 09/24/21

  • Yield to Worst

    3.20%
  • Yield to Maturity

    3.38%
  • Effective Duration (yrs)

    7.08
  • Years to Maturity

    10.94
  • Coupon

    5.41%
 4 See Important Disclosure for definitions.

Top 10 Constituents (%) as of 08/31/21

Total Constituents: 283
Swipe
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full data
Constituent Name
Coupon
Maturity Weighting (%)
Kraft Heinz Foods Co
0.000
06/01/2046
1.59
Sprint Capital Corp
6.875
11/15/2028
1.49
Sprint Capital Corp
8.750
03/15/2032
1.43
Vodafone Group Plc
0.000
04/04/2079
1.15
Freeport-Mcmoran Inc
5.450
03/15/2043
1.11
Kraft Heinz Foods Co
0.000
07/15/2045
1.10
Ford Motor Company
7.450
07/16/2031
1.08
Carnival Corp
0.000
04/01/2023
1.06
Newell Brands Inc
0.000
04/01/2026
1.03
Occidental Petroleum Cor
6.450
09/15/2036
1.01
Top 10 Total (%) 12.05
These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Index Country Weightings (%) as of 08/31/21

  • Country

    % of Net Assets
  • United States

    85.75
  • Italy

    3.40
  • Canada

    3.19
  • United Kingdom

    2.93
  • Germany

    2.16
  • France

    1.82
  • Finland

    0.34
  • Australia

    0.23
  • Puerto Rico

    0.18

Index Sector Weightings (%) as of 08/31/21

  • Sector

    % of Net Assets
  • Energy

    28.6
  • Consumer, Cyclical

    20.8
  • Consumer, Non-cyclical

    10.9
  • Financial

    9.8
  • Communications

    8.8
  • Utilities

    6.7
  • Basic Materials

    6.7
  • Technology

    4.0
  • Industrial

    3.6

Index Credit Quality (%) as of 08/31/21

Composite % of Net Assets
Non-Investment Grade BB 94.35
B 3.86
CCC 1.79
Total Non-Investment Grade -- 100.00
Not Rated -- --
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.

Maturity (%) as of 08/31/21

 Average Maturity: 11.01 Years