Last month, BlackRock introduced the iShares Fallen Angels USD Bond ETF (NasdaqGM: FALN). That ETF came to market with a 0.35% expense ratio, which later prompted a fee cut to the same expense ratio by ANGL.
“ANGL’s unique approach and the exposure it provides for those seeking yield in today’s uncertain climate have truly resonated with investors and advisors this year,” Meredith Larson, the Fund’s product manager, said in a statement. “By lowering the Fund’s expenses, we think we will make ANGL even more attractive and that much more significant a tool in the portfolio construction process.”
“ANGL, which is outperforming the largest broad high-yield debt competitor over three years as well, was able to sidestep the rout in oil and gas company debt that accompanied the 74 percent drop in crude prices between June 2014 and Feb. 11, when oil bottomed out at $26.05 a barrel,” reports Reuters.
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VanEck Fallen Angel High Yield Bond ETF