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VanEck ‘Fallen Angel’ Junk Bond ETF to Axe Smallest Holdings as Index Undergoes Liquidity Facelift

The recently popular VanEck Vectors Fallen Angel High Yield Bond ETF (ANGL) is about to shed more than 7% of the current portfolio to comply to changes in the ETF's underlying index that are designed to enhance liquidity. VanEck, the eighth largest U.S. provider of exchange-traded funds by assets, announced the forthcoming changes in a recent blog post. This ETF targets what are known as crossover credits, or bonds that have moved from investment-grade to non-investment grade, or junk.
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