iShares Fallen Angels USD Bond ETF
$25.90−0.04 (−0.15%)
- 0.25%
- $1.6B
- +1.3%
- 6.79%
- 0.8M sh
- $25.87
- low $25.61high $27.77
The ETF.net FALN Grade
A
Score 70 out of 100
- 21 of 85
Score 70 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.A79 out of 100Rank 18 of 85Mission
Whether the fund did what it promised, tested against its stated mandate.A93 out of 100Rank 31 of 74Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D30 out of 100Rank 78 of 85Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B68 out of 100Rank 19 of 85Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C44 out of 100Rank 59 of 85Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A89 out of 100Rank 7 of 85
Our read on FALN
ADowngrades are the shopping list. FALN holds dollar bonds that were investment grade until the ratings cut, keeps any one issuer to 3% of the index, and charges 0.25% for it. Roughly 160 bonds, income paid monthly.
The Fund seeks to track an index of U.S. dollar-denominated high-yield corporate bonds that were previously rated investment grade.
Why people hold it
- The whole idea: every bond here started life investment grade and got cut to junk. That is a different slice of high yield than a plain market-weighted junk index.ishares.com
- 0.25% a year, below what the typical high-yield ETF charges, for a screen that most junk-bond funds do not run.
- The index caps any single issuer at 3%, so one blown-up borrower cannot swamp the roughly 160-bond basket.
- Running since 2016, now a multi-billion-dollar iShares fund that tracks its index closely. One of the stronger builds in the high-yield group.
Worth knowing
- Still junk debt. When credit spreads widen, these bonds fall with the rest of high yield, and the ride is bumpier than investment-grade credit.
- Downgrade waves are lumpy. The basket fills with whichever industry is getting cut, so the sector mix can look nothing like a broad high-yield fund.
- Broad high-yield rivals such as SCYB and SPHY charge single-digit basis points. The fallen-angel screen costs extra.
FALN Holdings
- Bonds
- 157
- 18%
- Vodafone Group PLC 7.00% 04/04/2079
Sectors
- Consumer Discretionary25.8%
- Basic Industry13.4%
- Communications12.9%
- Reits9.8%
- Energy9.0%
- Consumer Non-Cyclical7.9%
- Capital Goods6.8%
- Insurance5.7%
- Finance Companies4.9%
- Electric2.3%
- Health Care0.9%
- Transportation0.7%
Geography
- United States100.00%
FALN Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
FALN$10,133
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | FALN |
|---|---|
| Year to date | −0.2% |
| 1 month | −1.6% |
| 3 months | −2.7% |
| 1 year | +1.3% |
| 3 years | +8.6% |
| 5 years | +3.0% |
| 10 years | +5.4% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | FALN |
|---|---|---|
| 2026 YTD | −0.2% | |
| 2025 | +8.9% | |
| 2024 | +7.7% | |
| 2023 | +13.5% | |
| 2022 | −13.8% | |
| 2021 | +5.4% | |
| 2020 | +14.9% |
FALN in the news
FALN Dividends
- 6.79%
- $1.76
- $0.15 per share
- Monthly
Distribution history
FALN Risk
- 6.1%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.57
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −18.8%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.86
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FALN Cost
0.25%
FALN0.25%
- The middle half of US High Yield funds
- Median 0.43%
17 of the 85 US High Yield funds charge less.
Other funds in US High Yield
- AFLHYFranklin High Yield Corporate ETFExpense ratio 0.40%1 year return +3.6%
- AVCHYVanguard Malvern Funds - Vanguard U.S. High-Yield Corporate Bond Index ETFExpense ratio 0.05%1 year return —
- AHYXFiShares ESG Advanced High Yield Corporate Bond ETFExpense ratio 0.35%1 year return +2.1%
- BHYGiShares iBoxx $ High Yield Corporate Bond ETFExpense ratio 0.49%1 year return +2.5%
- BPHYLPGIM Active High Yield Bond ETFExpense ratio 0.39%1 year return +2.4%