VanEck Global Fallen Angel High Yield Bond UCITS ETF

VanEck Global Fallen Angel High Yield Bond UCITS ETF is a UCITS-compliant exchange-traded fund that provides exposure to global high yield corporate bonds known as fallen angels. These are bonds originally issued as investment grade but later downgraded to below investment grade status, tracking the ICE Global Fallen Angel High Yield 10% Constrained Index. The ETF employs a physical replication strategy using a sampling technique to hold a diversified selection of qualifying securities denominated in USD, CAD, GBP, and EUR, publicly issued in major domestic or eurobond markets. It features market capitalization weighting with a 10% cap per issuer, focusing on bonds with at least one year to maturity, fixed coupons, and minimum outstanding amounts for liquidity. Interest income is accumulated and reinvested, offering diversification across countries and sectors within the high yield bond market. Domiciled in Ireland and launched in 2018, the ETF targets investors seeking access to this segment of the fixed income market characterized by bonds from issuers with a prior investment grade history.