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Fallen Angel High Yield Bond ETF ANGL

  • Full Name: Market Vectors®
    Fallen Angel High Yield Bond ETF (ANGL)

    Management Style: Sampling

    Underlying Index: The BofA Merrill Lynch US Fallen Angel High Yield Index (H0FA)

    Index Provider: BofA Merrill Lynch

    Index Description: H0FA is comprised of below investment grade corporate bonds denominated in U.S. dollars, issued in the U.S. market and that were rated investment grade at the time of issuance.

  •  
      

    • Fund Ticker

      ANGL
    • Exchange

      NYSE Arca
    • Commencement

      04/10/2012
    • ETF Structure

      Physical
    • Administrator

      Van Eck Associates
    • Custodian

      Bank of New York Mellon
    • Index Ticker

      H0FA
    • Index Rebalancing

      Monthly
  •  
    as of 07/29/14

    • 30-Day SEC Yield1

      4.19%
    • Total Net Assets

      $16.8M
    • Number of Holdings

      106
    • Options

      Expected
    • Gross Expense Ratio2

      1.48%
    • Net Expense Ratio/TER2

      0.40%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      07/31/2014
  • Key Points

    • High Yield that was Once Investment Grade
      Fallen Angels are high-yield corporate bonds that were originally issued with investment grade ratings

    • Structural Attributes of Investment Grade Issuers
      Fallen Angel issuers tend to have better debt profiles and greater financing flexibility than original issue high-yield issuers7 

    • Potential Outperformance over Traditional High Yield
      Historically, Fallen Angel high-yield corporate bonds have outperformed other high-yield corporate bonds with similar risks8
        
  • Yields
    as of 07/29/14

    • 30-Day SEC Yield1

      4.19%
    • Distribution Yield1

      5.10%
    • 12-Month Yield1

      5.41%
     1 See Important Disclosure for definitions.
  • Fees & Expenses2

    • Management Fee

      0.40%
    • Other Expenses

      1.08%
    • Acquired Fund Fees and Expenses

      --
    • Gross Expense Ratio

      1.48%
    • Fee Waivers and
      Expense Reimbursement

      (1.08)%
    • Net Expense Ratio/TER2

      0.40%
    2Expenses for ANGL are capped contractually at 0.40% until 09/01/14. Cap excludes certain expenses, such as interest. TER, or Total Expense Ratio, is also referred to as "Net Expense Ratio". See Important Disclosure for more information.
  • Trading Information

    • Fund Ticker

      ANGL
    • Index Total Return Ticker

      H0FA
    • NAV

      ANGLNV
    • Intraday NAV (IIV)5

      ANGLIV
    • Shares Outstanding

      600,000
    • Estimated Cash

      ANGLEU
    • Total Cash

      ANGLTC
    • CUSIP

      57061R304
    • ISIN

      US57061R3049
    5See IIV Details. Source: Bloomberg
  • Fundamentals4
    as of 07/28/14

    • Yield to Worst

      4.72%
    • Yield to Maturity

      4.76%
    • Effective Duration (yrs)

      5.58
    • Modified Duration (yrs)

    • Duration to Worst (yrs)

     4 See Important Disclosure for definitions.
  • Prices as of 07/29/2014

    TickerNAV/
    Last Price
    Volume
    30-Day Avg./
    Last Trading Day
    Daily Change
    NAV/
    Last Price
    YTD Change
    NAV/
    Last Price
    Premium/
    Discount
    Prem/Discount
    Distribution Charts
    NAV &
    Prem/Discount
    History
    NAV
    Chart
    ANGL $28.02
    $28.19
    3,282
    21,184
    $0.00 / +0.00%
    $0.08 / +0.30%
    + 6.8%
    + 6.9%

    $0.16
    0.57%
  • View All Indices » View All ETFs » Performance History: Average Annual Total Returns* (%)

    1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR LIFE
    04/10/12
    ANGL (NAV) 1.00 3.85 8.31 13.51 -- -- -- 12.15
    ANGL (Share Price) 0.42 4.16 7.60 13.56 -- -- -- 12.09
    H0FA (Index) 1.07 4.12 7.99 14.55 11.70 16.63 10.90 14.29
    Performance Differential (NAV - Index) -0.07 -0.27 0.32 -1.04 -- -- -- -2.14
    After Tax Held -- -- -- 10.67 -- -- -- 9.48
    After Tax Sold -- -- -- 7.59 -- -- -- 8.16
    1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR LIFE
    04/10/12
    ANGL (NAV) 1.00 3.85 8.31 13.51 -- -- -- 12.15
    ANGL (Share Price) 0.42 4.16 7.60 13.56 -- -- -- 12.09
    H0FA (Index) 1.07 4.12 7.99 14.55 11.70 16.63 10.90 14.29
    Performance Differential (NAV - Index) -0.07 -0.27 0.32 -1.04 -- -- -- -2.14
    After Tax Held -- -- -- 10.67 -- -- -- 9.48
    After Tax Sold -- -- -- 7.59 -- -- -- 8.16
  • View All Holdings »Top 10 Holdings (%)as of 06/30/14

    Total Holdings: 100
    Holding Name
    Coupon
    Maturity
    Composite
    Rating
    Country
    Currency
    % of Net
    Assets
    Arcelormittal
    6.000
    03/01/2021
    BB+
    Luxembourg
    USD
    2.94
    Slm Corp
    8.450
    06/15/2018
    BB-
    U.S.
    USD
    2.45
    Barclays Bank Plc
    7.625
    11/21/2022
    BB+
    United Kingdom
    USD
    2.04
    El Paso Corp
    7.750
    01/15/2032
    BB
    U.S.
    USD
    2.01
    Masco Corp
    6.125
    10/03/2016
    BB
    U.S.
    USD
    1.98
    Springleaf Finance Corp
    6.900
    12/15/2017
    CCC+
    U.S.
    USD
    1.97
    Arcelormittal
    6.125
    06/01/2018
    BB+
    Luxembourg
    USD
    1.96
    Embarq Corp
    7.995
    06/01/2036
    BB+
    U.S.
    USD
    1.95
    Royal Bank Of Scotland Group Plc
    7.640
    03/29/2049
    B+
    United Kingdom
    USD
    1.93
    Lafarge Sa
    5.500
    07/09/2015
    BB+
    France
    USD
    1.92
    Top 10 Total (%)21.15

    †See Country of Risk disclosure. These are not recommendations to buy or to sell any security. Securities and holdings may vary. Composite Rating: An evenly weighted blend of a security's Moody's, S&P, Fitch and DBRS ratings. Not Rated indicates that a security is rated by fewer than two of the four rating agencies. This composite is not intended to be a credit opinion. These are not recommendations to buy or to sell any security. Securities and holdings may vary.

  • Country Weightings (%)
    as of 06/30/14

    • Country

      % of Net Assets
    • U.S.

      62.9
    • LUXEMBOURG

      7.9
    • UNITED KINGDOM

      7.6
    • ITALY

      4.9
    • FRANCE

      4.9
    • NORWAY

      3.2
    • JAPAN

      2.9
    • FINLAND

      2.0
    • PORTUGAL

      1.7
    • GERMANY

      1.4
    • NEW ZEALAND

      0.6
    • SWITZERLAND

      0.0
    • Other

      0.1
  • Currency Exposure (%)
    as of 06/30/14

    • U.S. Dollar

      99.95
    • Other

      0.05
    • Total

      100.00
  • Sector Weightings (%)
    as of 06/30/14

    • Sector

      % of Net Assets
    • Financial

      29.5
    • Communications

      18.7
    • Basic Materials

      14.6
    • Consumer, Non-cyclical

      7.8
    • Industrial

      7.6
    • Consumer, Cyclical

      7.3
    • Energy

      5.8
    • Utilities

      5.5
    • Technology

      2.1
    • Other

      1.3
  • Credit Quality (%)
    as of 06/30/14

    Composite % of Net Assets
    Investment Grade BBB 0.86
    Non-Investment Grade BB 73.76
    B 15.16
    CCC 6.31
    CC 0.27
    Total Investment Grade 0.86
    Total Non-Investment Grade 95.49
    Not rated 3.66
    Composite Rating: An evenly weighted blend of a security's Moody's, S&P, Fitch and DBRS ratings. Not Rated indicates that a security is rated by fewer than two of the four rating agencies. This composite is not intended to be a credit opinion.
  • Maturity (%) as of 06/30/14

    Average Portfolio Maturity: 10.98 Years