The coronavirus pandemic has created loads of unprecedented actions and events, including the Federal Reserve getting into the junk-bond business.

While that’s not as dramatic as the entire world essentially shutting down for the past month or so, it’s one of several groundbreaking pieces of monetary policy aimed at ameliorating the devastating impact the virus has had on the economy.

Specifically, the Fed has expanded its Secondary Market Corporate Credit Facility, created to provide liquidity for outstanding corporate bonds by buying individual investment-grade corporate bonds issued by U.S. companies and U.S.-listed ETFs that invest in U.S. investment-grade corporate bonds. Two weeks ago, the central bank said it will bolster that program by buying bonds that were rated investment grade as of March 22 but subsequently were downgraded to high-yield, or junk status—a subset known as fallen angels.

Qualified bonds must be rated in one of the top three tiers of the high-yield bond category (BB+, BB or BB- or Ba1, Ba2, Ba3) by at least two of the three nationally recognized credit rating organizations—Moody’s Investors Service, S&P Global Ratings and Fitch Ratings.

Fund provider VanEck said it expects $250 billion to $300 billion of additional fallen angels this year, which would make 2020 the biggest year ever for investment-grade bonds downgraded to junk status. Barron’s cited Citigroup research that said $300 billion in new fallen angels would represent at least a doubling of the prior single-year record from 2002.

The VanEck Vectors Fallen Angel High Yield Bond ETF (ANGL) is one of two ETFs targeting fallen angels. The fund launched in 2012 and has attracted nearly $1.7 billion in assets while providing five-year average annual returns that have topped ETFs invested in the broader high-yield bond market.

The fund tracks the ICE US Fallen Angel High Yield 10% Constrained Index composed of fallen angels in the U.S. high-yield market. The index has a 10% issuer cap, but no sector constraints.

According to VanEck, fallen angles tend to be issued by larger, more established companies and have a higher rate of upgrades to investment grade than bonds that come to market as junk bonds.

Fran Rodilosso, head of fixed-income ETF portfolio management at Van Eck, says since the ANGL fund’s index went live in 2004 each of the four periods of high fallen-angel volumes have corresponded with the best years for fallen-angel investors both on absolute terms and relative to the broader high-yield category.

“Every situation is different, but we think it’s an interesting time to look at this asset class and look at it as a different exposure to high yield,” he says.

The ANGL fund was down 10.4% year to date through yesterday’s trading, but its five-year annualized return is 4.7%. That compares favorably to the $18 billion iShares iBoxx $ High Yield Corporate Bond ETF (HYG), the largest high-yield bond ETF, which has returned 2.3% on average during that period.

ANGL’s counterpart is the iShares Fallen Angels USD Bond ETF (FALN), which debuted in 2016 and has roughly $154 million in assets. It tracks the Bloomberg Barclays US High Yield Fallen Angel 3% Capped Index, a market-cap weighted benchmark with a 3% cap on each issuer.

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