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What is VanEck Fallen Angel high yield bond ETF (ANGL)?

The VanEck Fallen Angel High Yield Bond ETF (ANGL) is an exchange-traded fund that mostly invests in high yield fixed income. The fund tracks a market-value-weighted index of bonds that were rated investment grade at issuance but later downgraded to sub-investment grade. ANGL was launched on Apr 10, 2012 and is issued by VanEck.

Which iShares ETF invests in Fallen Angels?

As of September 2021, its holdings included bonds from Sprint Capital Corp., Vodafone Group PLC, and Freeport McMoran, among others. There also is the iShares Fallen Angels USD Bond ETF which, as its name suggests, invests only in dollar-denominated fallen angels.

What is a fallen angel?

A fallen angel, in the investing world, is a bond that was initially given an investment-grade rating but has since been reduced to junk bond status. The downgrade is caused by a deterioration in the financial condition of the issuer. The term is also sometimes used to describe a stock that has fallen precipitously from its all-time highs.

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