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ANGL
VanEck Fallen Angel High Yield Bond ETF

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 Designation11

    3.B

 
as of 01/25/22

  • 30-Day SEC Yield1

    3.39%
  • Total Net Assets

    $4.7B
  • Number of Holdings

    259
  • Options

    Available
  • Gross Expense Ratio2

    0.35%
  • Net Expense Ratio/TER2

    0.35%
  • Distribution Frequency

    Monthly
Why Invest?
Recommended Insights - Fallen Angel Bonds: Question & Answer
Recommended Insights - Fallen Angel Bonds: Question & Answer

Morningstar™ Ratings3
as of 12/31/2021

Category Overall 3 Year 5 Year
High Yield Bond
5 stars of 634 funds
5 stars of 634 funds
5 stars of 558 funds

Key Points

  • Higher Quality High Yield
    Fallen angels, high yield bonds originally issued as investment grade corporate bonds, have had historically higher average credit quality than the broad high yield bond universe7
     
  • Outperformed Broad High Yield Bond Market
    Fallen angels have outperformed the broad high yield bond market in 13 of the last 17 calendar years8
     
  • Higher Risk-Adjusted Returns than Broad High Yield Bond Market
    Fallen angels have historically offered a better risk/reward trade off than found with the broad high yield bond market9

Yield
as of 01/25/22

  • 30-Day SEC Yield1

    3.39%
  • Distribution Yield1

    3.78%
  • 12-Month Yield1

    4.02%
 1 See Important Disclosure for definitions.

Fees & Expenses2

  • Management Fee

    0.35%
  • Other Expenses

    --
  • Acquired Fund Fees and Expenses

    --
  • Gross Expense Ratio

    0.35%
  • Fee Waivers and
    Expense Reimbursement

    --
  • Net Expense Ratio/TER2

    0.35%
2Van Eck Associates Corporation (the “Adviser”) will pay all expenses of the Fund, except for the fee payment under the investment management agreement, acquired fund fees and expenses, interest expense, offering costs, trading expenses, taxes and extraordinary expenses.

Trading Information

  • Fund Ticker

    ANGL
  • Index Total Return Ticker

    H0CF
  • NAV

    ANGLNV
  • Intraday NAV (IIV)5

    ANGLIV
  • Shares Outstanding

    147,900,000
  • Estimated Cash

    ANGLEU
  • Total Cash

    ANGLTC
  • CUSIP

    92189F437
  • ISIN

    US92189F4375
5See IIV Details. Source: Bloomberg

Fundamentals4
as of 01/25/22

  • Yield to Worst

    3.93%
  • Yield to Maturity

    4.07%
  • Effective Duration (yrs)

    6.68
  • Years to Maturity

    12.01
  • Coupon

    5.26%
 4 See Important Disclosure for definitions.

Investment Professionals

  • Portfolio Manager and Head of Fixed Income ETFs
  • Responsible for portfolio strategies as well as credit and market analysis; specializes in international bond markets
  • Joined VanEck in 2012
  • Prior to VanEck, Managing Director of Global Emerging Markets with The Seaport Group; launched the firm’s emerging markets fixed income sales and trading business
  • Previously, held portfolio management positions at Greylock Capital and Soundbrook Capital; focused on corporate high-yield and distressed bonds with an emphasis on emerging markets
  • CFA charterholder; member of CFA Society New York
  • MBA (with distinction), Finance, University of Pennsylvania
  • AB, History, Princeton University
  • Associate Portfolio Manager for Fixed Income ETFs
  • Joined VanEck in 2013
  • Prior to his current role, held a portfolio administration position for the firm’s alternative investment funds
  • MS, Finance, University of Rochester
  • BS, Information Sciences and Technology, Pennsylvania State University
  • Associate Portfolio Manager for Fixed Income ETFs
  • Joined VanEck in 2016
  • MS, Financial Engineering, Baruch College
  • BBA, Finance, Baruch College
  • Senior Trader, Portfolio Analyst for Fixed Income ETFs
  • Joined VanEck in 2017
  • Previously, Trader at Beck, Mack & Oliver LLC and monitored markets and executed equity and fixed income trades and Fixed Income Operations at Gleacher & Company Securities, Inc.
  • MBA, Finance, Montclair State University
  • BS, concentration in Accounting and Finance, minor in Computer Science, University of Vermont

Prices as of 01/25/22

NAV/
Market 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
30-Day
Median
Bid Ask
Spread
NAV
Chart
ANGL $31.93
$31.85
2,126,395
1,987,998
$0.00 / -0.01%
$-0.13 / -0.41%
-3.06%
-3.40%
$-0.08
-0.25%
0.03%

Premium/Discount History as of 01/25/22

Calendar Year 2020 1Q 2021 2Q 2021 3Q 2021 4Q 2021 Premium/Discount Charts NAV & Prem/Discount History
Days closed at a premium 187 46 56 51 43
ANGL Days closed at NAV 7 5 0 4 3
Days closed at a discount 59 10 7 9 18


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) 1.80 0.95 7.65 7.65 12.47 8.25 -- 8.75
ANGL (Share Price) 2.31 0.97 7.24 7.24 12.78 8.23 -- 8.76
H0CF (Index) 1.85 1.06 7.72 7.72 12.97 8.67 10.14 9.72
Performance Differential (NAV - Index) -0.05 -0.11 -0.07 -0.07 -0.50 -0.42 -- -0.97
1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
04/10/12
ANGL (NAV) 1.80 0.95 7.65 7.65 12.47 8.25 -- 8.75
ANGL (Share Price) 2.31 0.97 7.24 7.24 12.78 8.23 -- 8.76
H0CF (Index) 1.85 1.06 7.72 7.72 12.97 8.67 10.14 9.72
Performance Differential (NAV - Index) -0.05 -0.11 -0.07 -0.07 -0.50 -0.42 -- -0.97

Top 10 Holdings (%) as of 12/31/21 Daily Holdings

Total Holdings: 264
Swipe
to view
full data
Holding Name
Coupon
Maturity
Country
Currency
% of Net
Assets
Kraft Heinz Foods Co
4.375
06/01/2046
United States
USD
1.82
Sprint Capital Corp
6.875
11/15/2028
United States
USD
1.64
Sprint Capital Corp
8.750
03/15/2032
United States
USD
1.59
Vodafone Group Plc
7.000
04/04/2079
United Kingdom
USD
1.30
Freeport-Mcmoran Inc
5.450
03/15/2043
United States
USD
1.23
Kraft Heinz Foods Co
5.200
07/15/2045
United States
USD
1.19
Electricite De France Sa
5.250
01/29/2168
France
USD
1.16
Newell Brands Inc
4.200
04/01/2026
United States
USD
1.13
Intesa Sanpaolo Spa
5.017
06/26/2024
Italy
USD
1.11
Firstenergy Corp
7.375
11/15/2031
United States
USD
1.06
Top 10 Total (%) 13.24

These are not recommendations to buy or to sell any security. Securities and holdings may vary.

‡See Country of Risk disclosure. 

Country Weightings (%) as of 12/31/21

  • Country

    % of Net Assets
  • United States

    84.01
  • Italy

    3.43
  • United Kingdom

    3.10
  • Germany

    2.28
  • France

    2.02
  • Australia

    1.33
  • Ireland

    1.32
  • Canada

    1.20
  • Finland

    0.35
  • Brazil

    0.27
  • Other/Cash

    0.68

Currency Exposure (%)
as of 12/31/21

  • U.S. Dollar

    99.32
  • Other/Cash

    0.68

Sector Weightings (%) as of 12/31/21

  • Sector

    % of Net Assets
  • Energy

    27.1
  • Consumer Cyclicals

    14.1
  • Financials

    13.3
  • Technology

    12.5
  • Consumer Non-Cyclicals

    9.7
  • Utilities

    6.7
  • Industrials

    6.2
  • Basic Materials

    5.0
  • Real Estate

    2.6
  • Healthcare

    2.0
  • Other/Cash

    0.7

Credit Quality (%) as of 12/31/21

Composite % of Net Assets
Investment Grade BBB 0.55
Non-Investment Grade BB 88.78
B 8.52
CCC 1.69
C 0.29
Total Investment Grade -- 0.55
Total Non-Investment Grade -- 99.28
Not Rated -- 0.17
 

Maturity (%) as of 12/31/21

Average Portfolio Maturity: 12.04 Years