BlackRock adds high yield 'fallen angels' ETF to fixed income range

Take advantage of price anomalies

BlackRock has launched an ETF offering exposure to global bonds which were once rated as investment grade but have since been downgraded to high yield status.

The group said this type of bond can be attractive to investors seeking to take advantage of price anomalies that can arise following a downgrade of securities. Its iShares Fallen Angels High Yield Corporate Bond UCITS ETF (WING) has a total expense ratio of 0.50%. Commodities 'fallen angels' and EM bonds offering best credit opportunities Its underlying index has exposure to over 450 holdings, with exposure of each issuer capped at 3% of the total market value to ensure diversification, and is rebalanced monthly. Emerging market issuers and bonds rated below B- are excluded as par...