IFLN vs USHY

IFLNBInvesco Bloomberg Enhanced Fallen Angels ETF

USHYAiShares Broad USD High Yield Corporate Bond ETF

In short

IFLN Junk bonds with a pedigree. IFLN tracks Bloomberg's enhanced fallen-angel index, owning high-yield corporate debt from issuers that were investment grade until the downgrade came, and it charges less than the typical high-yield ETF.

USHY The wide-angle lens on junk bonds: about 1,900 US dollar high yield corporate issues for 0.08% a year, a fifth of what the typical fund in its category charges. Broad, cheap, heavily traded, and it pays monthly.

Stated mandate

IFLN The Fund seeks exposure to the Bloomberg US High Yield Enhanced Fallen Angels Index, which represents U.S. dollar-denominated, non-investment-grade corporate bonds. The Fund uses sampling rather than purchasing every index security.

USHY The fund seeks to track an index of U.S. dollar-denominated high yield corporate bonds.

Why people hold it

• IFLN At 0.23% a year, it undercuts the median fee in its high-yield ETF cohort, which is unusual for a niche screen rather than a plain broad-market tracker.
• Fallen angels are the whole point: bonds from issuers that lost investment-grade status, not borrowers that were never there. A different slice than a catch-all junk index.invesco.com
• Monthly distributions, roughly 120 bonds, and a sampling approach instead of buying every index bond one-for-one, standard practice in a market where individual bonds trade thinly.
• In a field of dozens of high-yield ETFs, it sits in the upper half on the mechanics you can actually control: fee, structure, and day-to-day tradability.

• USHY Charges 0.08% a year while the median high yield fund in its cohort runs 0.40%. Cheap rent on an expensive-to-run corner of the bond market.
• Holds about 1,900 bonds against the ICE BofA US High Yield Constrained Index: the broad market, not a curated slice of the most liquid names.ishares.com
• A multi-billion-dollar fund and one of the more actively traded in high yield, which tends to keep bid-ask spreads thin even on busy days.
• Pays monthly and has tracked its index tightly since its 2017 launch, one of the closer index matches in its peer group.

Worth knowing

• IFLN Broad high-yield trackers such as SCYB (0.03%) and SPHY (0.05%) charge a fraction of this fee. The fallen-angel screen is what the extra basis points buy.
• Roughly 120 bonds means single issuers carry real weight, and it is still non-investment-grade credit that moves with spreads and default worries.
• The fund shell dates to 2007, but the fallen-angel mandate is recent, so long-run charts under this ticker reflect an older, different strategy.stockanalysis.com

• USHY High yield means below-investment-grade borrowers. When credit gets stressed this asset class drops with stocks instead of cushioning them.
• Cheaper tickets sit on the same shelf: SCYB at 0.03% and SPHY at 0.05%.
• This is a fund, not a bond ladder. No maturity date hands your principal back; the basket rolls on indefinitely.

Full IFLN profile⁠

Full USHY profile⁠