Overview
Bonds that fell from investment grade — 'fallen angels' like Vodafone hybrids and Boeing-era credits, bought at the point of maximum forced selling.
Top Holdings
| Ticker | Holding | Weight |
|---|
Fund Details
Investment Thesis
The market's most reliable anomaly: downgraded bonds get dumped by mandate-constrained funds at exactly the wrong price, and fallen-angel indices have historically beaten regular high yield because of it. 6.7% yield from former blue chips with upgrade optionality built in.
Who It's For
High-yield investors who want the asset class's best-documented structural edge instead of the broad junk index.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | -- | -- |
| 2017 | $27.14 | -- |
| 2018 | $24.40 | -10.1% |
| 2019 | $27.12 | +11.1% |
| 2020 | $29.43 | +8.5% |
| 2021 | $29.97 | +1.8% |
| 2022 | $24.61 | -17.9% |
| 2023 | $26.40 | +7.3% |
| 2024 | $26.71 | +1.2% |
| 2025 | $27.30 | +2.2% |
| Year | Yield |
|---|---|
| 2016 | -- |
| 2017 | -- |
| 2018 | -- |
| 2019 | -- |
| 2020 | -- |
| 2021 | 1.10% |
| 2022 | 5.08% |
| 2023 | 5.37% |
| 2024 | 6.24% |
| 2025 | 6.31% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | -- | -- |
| 2017 | -- | -- |
| 2018 | -- | -- |
| 2019 | -- | -- |
| 2020 | -- | -- |
| 2021 | -- | -- |
| 2022 | -- | -- |
| 2023 | -- | -- |
| 2024 | -- | -- |
| 2025 | $1.6B | -- |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
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