Why One Fund Cut $7 Million From This High-Yield ETF but Still Leaned Into Credit

On Wednesday, Ocean Park Asset Management reported selling 237,100 shares of the VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL) successful the 4th quarter, with an estimated transaction worth of $6.98 cardinal based connected quarterly mean pricing.

According to an SEC filing released Wednesday, Ocean Park Asset Management sold 237,100 shares of the VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL) successful the 4th quarter. The estimated worth of these sales, calculated utilizing the quarter’s mean closing price, was $6.98 million. The position’s quarter-end worth decreased by $7.35 million, reflecting some stock income and terms changes.

ANGL accounted for 1.12% of 13F AUM aft the trade.

Top holdings aft the filing:

• NYSEMKT: USHY: $286.75 cardinal (13.5% of AUM)

• NYSEMKT: HYG: $268.80 cardinal (12.6% of AUM)

• NYSEMKT: JNK: $185.32 cardinal (8.7% of AUM)

• NYSEMKT: SPYM: $166.14 cardinal (7.8% of AUM)

• NASDAQ: BND: $111.62 cardinal (5.2% of AUM)

As of Wednesday, ANGL shares were priced astatine $29.58, with a 30-day SEC output of astir 6.05%.

• ANGL's concern strategy focuses connected U.S. dollar-denominated firm bonds primitively rated concern people but subsequently downgraded to beneath concern people ("fallen angels").

• The fund's portfolio is composed chiefly of precocious output bonds, tracking an scale of these securities to supply diversified vulnerability to this conception of the recognition market.

• Structured arsenic an exchange-traded fund, it offers regular liquidity and a competitory dividend yield, with a transparent, rules-based attack to scale tracking.

ANGL offers vulnerability to U.S. firm bonds downgraded from concern grade, with a output illustration aimed astatine income-focused investors. VanEck Fallen Angel High Yield Bond ETF provides organization investors with targeted vulnerability to the fallen angel conception of the precocious output enslaved market, leveraging a systematic, index-based methodology. The fund's standard and liquidity marque it a applicable conveyance for those seeking income and imaginable superior appreciation from bonds that person been downgraded from concern people status. Its disciplined attack and charismatic output illustration presumption it arsenic a competitory enactment wrong the precocious output fixed income ETF landscape.