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ANGL - Higher Quality High Yield

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ANGL
VanEck Vectors 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 | Rising Rates and Fallen Angel Bonds

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

2Source: FactSet.

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
  • 2021 NAIC Preliminary Designation11

    3.B

 
as of 06/23/21

  • 30-Day SEC Yield1

    3.17%
  • Total Net Assets

    $4.8B
  • Number of Holdings

    299
  • Options

    Available
  • Gross Expense Ratio2

    0.35%
  • Net Expense Ratio/TER2

    0.35%
  • Distribution Frequency

    Monthly
Why Invest?

Country Weightings (%) as of 05/31/21

  • Country

    % of Net Assets
  • United States

    85.14
  • Italy

    3.15
  • United Kingdom

    2.89
  • Germany

    2.07
  • France

    1.72
  • Luxembourg

    1.67
  • Australia

    1.13
  • Canada

    1.08
  • China

    0.40
  • Finland

    0.30
  • Brazil

    0.24
  • Other/Cash

    0.19

Portfolio Composition (%)
as of 05/31/21

  • % of Net Assets
  • Stocks

    0.00
  • Bonds

    99.81
  • Other

    0.00
  • Cash

    0.19

Currency Exposure (%)
as of 05/31/21

  • U.S. Dollar

    99.81
  • Other/Cash

    0.19

Credit Quality (%) as of 05/31/21

Composite % of Net Assets
Non-Investment Grade BB 93.78
B 4.08
CCC 1.73
D 0.21
Total Non-Investment Grade -- 99.81
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 04/30/21

  • Beta vs. S&P 500 Index

    0.49
  • Correlation vs. S&P 500 Index

    0.80
  • Volatility (Standard Deviation)

    11.25
  • Sharpe Ratio

    0.67

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 05/31/21

 Average Portfolio Maturity: 11.75 Years

Sector Weightings (%) as of 05/31/21

  • Sector

    % of Net Assets
  • Energy

    27.8
  • Consumer Cyclicals

    19.8
  • Technology

    12.9
  • Consumer Non-Cyclicals

    10.1
  • Basic Materials

    7.2
  • Utilities

    6.4
  • Financials

    5.6
  • Industrials

    5.6
  • Real Estate

    3.9
  • Healthcare

    0.5
  • Other/Cash

    0.2