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 ...
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.
Fallen angels finished the first half of the year outperforming the broad high yield market, despite underperforming by 0.46% in Q2. In May, Constellation Insurance and Royal Caribbean became the ...