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

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 ...

We expect an uptick in fallen angel activity in 2025, mainly due to idiosyncratic factors rather than systematic weakness. Fallen angels outperformed the broad high yield market by 0.17%, benefiting ...

Fallen angels were nearly twice as likely to default compared with peers that are rated speculative-grade at inception (referred to as original high yield; OHY), according to a study published by ...

The VanEck Fallen Angel High Yield Bond ETF targets downgraded corporate bonds, providing diversified exposure to the high yield market.