"Fallen angels" are corporate bonds that received investment-grade credit ratings when they were issued but have since been downgraded to junk. Historically, they have tended to exhibit greater ...

Fallen angels and broad high yield performed relatively in line in August, 1.53% vs 1.59%, with fallen angels trailing the broad market by 1.45% YTD. Weaker employment figures have also lent support ...

Fallen angels underperformed the broad high yield market by 0.56% in Q4 and by 2.44% in 2024 as lower duration and lower quality outperformed. Rising stars outpaced fallen angels in 2024, but at a ...