ANGL

VanEck Fallen Angel High Yield Bond ETF

VanEck Vectors Fallen Angel High Yield Bond ETF is an exchange-traded fund incorporated in the USA. The Fund seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of The BofA Merrill Lynch US Fallen Angel High Yield Index.


Corporate

FIXED INCOME

Rules-Based

MANAGEMENT STYLE

3.1 B

ASSETS UNDER MGMT

35 bp

EXPENSES
Fund Basics
Fund sponsorVan Eck Associates Corp
CategoryCorporate
Asset classFixed Income
Websitelink...
Inception dateApr 10, 2012
Assets (mns)$3,082
Expense ratio35 bp
Constituent Breakdown
No. of constituents170
No. of distinct issuers78
Coverage92%
Fixed/floating rate99% / 1%
Investment grade16%
Inflation protected0%
Non-standard maturity (callable, etc.)80%
Fund Structure
RegulationOpen-End Investment Company
DistributionsMonthly
Taxation1099
Bond selection
WeightingMarket Cap
Smart-betaNo
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings
VODAFONE GROUP PLC NOTES 2019-04.04.79 G 2.5 %
INTESA SANPAOLO S.P.A. 5.017% 26-JUN-202 2.3 %
NEWELL BRANDS INC 4.7% 01-APR-2026 2.3 %
LAS VEGAS SANDS CORP. 3.2% 08-AUG-2024 2.0 %
ENTEGRIS ESCROW CORP. 4.75% 15-APR-2029 1.8 %
FIRSTENERGY CORP. 4.15% 15-JUL-2027 1.7 %
ROYAL CARIBBEAN GROUP 11.5% 01-JUN-2025 1.3 %
APACHE CORPORATION 5.1% 01-SEP-2040 1.3 %
DRESDNER FUNDING TRUST I 8.151 % 1999-30 1.3 %
ROLLS-ROYCE PLC 3.625% 14-OCT-2025 1.2 %
Issuer Type Breakdown
Top Issuers
FORD MOTOR CREDIT COMPANY LLC 5.6 %
FIRSTENERGY CORP. 4.7 %
LAS VEGAS SANDS CORP. 4.5 %
TELECOM ITALIA CAPITAL SA 4.0 %
APACHE CORPORATION 3.4 %
Historical Performance


Standardized Performance (as of 11/30/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 7.1% 10.3% 9.8% 2.2% 5.2% 6.3% 6.9%
Volatility 4.8% 5.4% 7.1% 8.8% 11.9% 9.6% --
Market Correlations
versus...BetaR-squared
S&P 5000.4976%
MSCI EAFE0.4976%
MSCI Emg Mkts0.3946%
Liquidity Measures
Avg. volume (000)615
Turnover0.0%
Avg. Bid/Ask (% of price)0.04%
ADV of underlying (mns)$0
Technical Indicators
Recent close$29.12
30d moving avg.$29.12
Annualized volatility9.9%
Relative strength (RSI)49
Short interest (ETF)0.6%
Short interest (underlying)0.0%
Distributions
Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

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Credit Quality
Duration
Macaulay Duration
SHORT
MED.
LONG TERM

5.4 yrs


Modified Duration
  ◁ INSENSITIVE
EXTREMELY SENSITIVE ▷  

5.2%


Our analysis shows this fund is likely to be relatively insensitive to changes in interest rates

Interest Rate Sensitivity Analysis
Change
in YTM
New
YTM
Est. Price
Change
New
Price
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-150 bp --% --% $--
-200 bp --% --% $--
- 300bp --% --% $--

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Yields
Disposition of YTM
Distribution Yield (Trailing 12 Months)

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ETF Research Center Fund Rating

The ALTAR Score™ is our measure of an ETF's overall investment merit. For fixed income funds, the Score is an estimate of risk-adjusted yield to maturity (calculation shown below). In effecient markets, the plot of ALTAR Scores™ vs. Duration should resemble the familiar yield curve. Funds that sit above the curve may offer better risk-adjusted returns than those that sit below the curve.


ALTAR Score™

ANGL

4.7%

Cat. Avg

3.9%

Fund Category: Corporate

Adj. Yield to Maturity-- bp
Less: Annual "default factor"-- bp
Less: Expenses35 bp
Equals: ALTAR Score™4.7%
ALTAR Score™ vs. Duration (Corporate Bond ETFs)
Expense Analysis

Peer Group Rules-Based
Corporate Fixed Income ETFs
# of ETFs 75
Avg. Expense Ratio 26.6 bp
Std. Deviation 17.3 bp
ANGL (35 bp) Percentile rank 69
Peer Group Expense Ratio Distribution


Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
ANGL 35.0 3.7 38.7
Peer Avg. 29.7 15.9 45.6
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .