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 ...

After outperforming in Q1 by 0.10%, fallen angels underperformed broad high yield by 1.60% in Q2 and now lag by 1.53% YTD. Within Telecom, Embarq had been trading at distressed levels all year but ...

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, ...

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 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 ...