FALN — iShares Fallen Angels USD Bond ETF

FALN Price Performance — Growth of $10,000

Value of a $10,000 investment in FALN over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

FALN Drawdown

The "underwater" chart: FALN's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The iShares Fallen Angels USD Bond ETF (FALN) is a corporate bond fund issued by iShares with $1.56 billion in assets. It holds a C grade and ranks 17th out of 17 peers in the US Bonds - Corporate category, placing it at the bottom of its peer group. The fund’s 0.25% expense ratio is significantly higher than the category median of 0.06%, while its 6.83% dividend yield exceeds the median of 5.87%. Top holdings account for 33.6% of assets, with the largest position being BlackRock Funds III at 17.4%.

The fund’s price of $25.78 sits at 10.6% of its 52-week range, indicating a position near the lower end of recent trading levels. Short-term performance shows a 1-week gain of 0.39%, contrasting with a 1-month decline of 1.23% and a 3-month drop of 2.54%. Over the longer term, the 3-year return of 27.83% stands in sharp contrast to the negative 1-year return of -0.13%, which trails the category median of 1.29%. The ETFValuer grade has remained unchanged at C over the last 35 tracked days, and price history is available for 3.0 years.

With a volatility of 4.67% labeled as Very Low, the fund exhibits relatively stable price movements compared to broader market fluctuations. Its beta of 0.86 suggests that the ETF moves 86% as much as the overall market. However, a Sharpe ratio of -1.10 indicates that risk-adjusted returns have been negative during the measured period. The maximum drawdown of -5.92% reflects the largest peak-to-trough decline recorded, while an average daily volume of 858,753 shares provides moderate liquidity.

AI-generated summary based on the data on this page.

FALN Top Holdings

Holdings as of 2026-07-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 33.6% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how FALN's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With FALN

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with FALN's top 10 — ANGL overlaps most, holding 2 of the same companies as FALN's top 10 (4.9% of FALN's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.96% (as of 2026-10-22) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 19.03 (as of 2026-10-22) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.75% (as of 2026-09-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

High-Yield Credit Spread: 3.40% (as of 2026-10-22) — The extra yield investors demand to hold high-yield corporate bonds over Treasuries — a real-time gauge of credit risk appetite relevant to this fund’s holdings.

FALN Liquidity, Domicile & Tax Treatment

Liquidity: Average daily volume is 859K/day. Higher volume and a larger fund generally mean lower round-trip trading costs. AUM of $1.56B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: FALN is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

FALN Performance History

How FALN Compares to Other US Bonds - Corporate ETFs