However, ANGL has proved surprisingly resilient during the recent bout of volatility in the junk bond market. Year-to-date, ANGL has increased 6.9% while HYG rose 3.2% and JNK gained 3.5%.
Moreover, along with its 66.1% tilt toward U.S. markets, ANGL includes some international exposure as well, including 6.9% Luxembourg, 6.4%, Italy and 5.8% U.K., among others. For a broader junk bond ETF that tracks global markets, iShares Global High Yield Corporate Bond ETF (BATS: GHYG) also includes a similar mix of foreign holdings, including Italy 7.0%, U.K. 5.9% and France 4.2%, among others.
Again, ANGL includes a slightly higher quality basket, compared to GHYG’s 0.3% BBB, 50.5% BB, 38.4% B and 8.1% C profile. Additionally, the fallen angel ETF has outperformed GHYG’s 1.2% year-to-date return.
Financial advisors who are interested in learning more about high-yield bonds can register for the Wednesday, April 15 webcast here.
For more information on the speculative-grade debt market, visit our junk bonds category.