We assess the performance of FAs since Covid using the FTSE Time-Weighted Fallen Angel Bond Index (TWUSFA), which captures critical timing effects. We find a more favourable risk/return profile in FAs ...
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 angels outperformed broad high yield by 0.53% YTD, driven by security selection and duration. This marks 15 years of historical outperformance out of the last 22 calendar years*. There were 10 ...
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, ...
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