Fallen Angels in the US credit market

Characteristics, historical performance and differences between the current credit cycle and earlier regimes

Read this paper from FTSE Russell to learn more about

  • Why Fallen Angels have shown higher risk-adjusted returns than other HY issues
  • Fallen Angel Bond Indexes, timing and empirical evidence
  • Return and performance characteristics
  • Size of the Fallen Angel sector in the Corporate Bond market
  • Caveats and concerns about the Fallen Angel asset class
  • Risks for investors − when can Fallen Angels become value traps?

Supporting documents

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