A fallen angel is a bond downgraded from investment-grade to junk status due to a decline in the issuer's financial stability ...

Fallen angels underperformed the broader high yield market in August and year-to-date. High yield corporates experienced outflows, while Treasury products saw inflows in August. Several potential ...

Fallen angels outperformed broad high yield by 0.53% YTD, driven by security selection and duration. This marks 15 years of ...

Fallen angel bond strategies are inherently contrarian. Exchange-traded funds like iShares Fallen Angels USD Bond ETF FALN buy bonds precisely when most investors are selling. These types of funds ...

Fallen angel high yield bonds provide a distinct value proposition that sets them apart from the broad high yield market. The unique performance drivers of fallen angel bonds (systematically buying ...

2024 returns will likely be driven by carry, with sector and quality differences driving potential outperformance versus broad high yield. An uptick in fallen angels may provide further support. Last, ...