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

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 ...

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

An unusual recurrence in the markets is the ‘January effect’. This is the phenomenon of downgraded debt consistently outperforming in the first month of the year. This has taken place in 18 out of the ...

Fallen angels outperformed the broad high yield market by 0.59% in Q3 (2.99% vs. 2.40%), widening the year-to-date gap to 0.78% (7.84% vs. 7.06%). Credit spreads were notably more stable in Q3, ...