A fallen angel is a bond downgraded from investment-grade to junk status due to a decline in the issuer's financial stability. Learn about its risks and investment potential.

Fallen angels underperformed the broad high yield market in September by 0.35%. The seven-month drought of fallen angles ended in September as OCI NV and VF Corporation were downgraded to high yield, ...

Fallen angels outperformed broad high yield by 0.53% YTD, driven by security selection and duration. This marks 15 years of historical outperformance out of the last 22 calendar years*. There were 10 ...

2024 returns will likely be driven by carry, with sector and quality differences driving potential outperformance versus broad high yield. An uptick in fallen angels may provide further support. Last, ...