“The amount of high-yield energy debt has more than doubled to $213 billion in the last five years, according to Bank of America Merrill Lynch index data,” reports Bloomberg.

ANGL’s lineup has swelled in size since the ETF debuted just over three years ago. In July 2012, the fund was home to 66 fallen angel issues. Today, that number is nearly 150.

“Relative to the broad high-yield bond market, fallen angels have historically averaged higher credit quality, higher absolute returns and higher risk-adjusted returns,” said Fran Rodilosso, senior investment officer for Van Eck Global, on an ETF Trends webcast earlier this month. [A Different High Yield Strategy]

Market Vectors Fallen Angel High Yield Bond ETF