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 is a corporate bond fund issued by iShares with $1.67 billion in assets under management. It holds a C grade and ranks 13th out of 17 peers in the US Bonds - Corporate category, placing it in the lower tier of its specific niche. The fund’s 0.25% expense ratio is significantly higher than the category median of 0.06%, reflecting a cost premium for investors. Despite the higher fees, the ETF offers a dividend yield of 6.52%, which exceeds the category median of 4.93%. The portfolio is concentrated, with the top 10 holdings representing 30.6% of assets and the largest position being BlackRock Funds III at 14.1%.

Over the past year, the ETF has delivered a return of 4.18%, outperforming the category median of 2.62%. This longer-term gain contrasts with recent short-term weakness, as the fund has declined by 0.19% over the last day and 0.40% over the past week. Year-to-date performance stands at 2.24%, while the three-year return is 27.66%. The current price of $26.76 sits at 27.3% of its 52-week range, indicating it is trading near the lower end of its recent historical bounds. The ETFValuer grade has remained unchanged at C across the last 35 tracked days, suggesting stability in its assessment despite price fluctuations.

The fund exhibits a volatility of 4.54% annualized, which is labeled as Very Low, and a beta of 0.81, indicating it moves less than the broader market. A Sharpe ratio of -0.18 suggests that risk-adjusted returns have been negative over the measured period. The maximum drawdown of -5.92% reflects the largest peak-to-trough decline recorded in its history. Liquidity is supported by an average daily volume of 799,835 shares, though the bid/ask spread of 0.33% implies moderate trading costs. These metrics collectively describe a fund with low price fluctuation but negative risk-adjusted performance.

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

FALN Top Holdings

Holdings as of 2026-04-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 30.6% 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 — LQD overlaps most, holding 2 of the same companies as FALN's top 10 (15.9% 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: 4.78% (as of 2026-09-04) — 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): 15.30 (as of 2026-09-07) — 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: 3.63% (as of 2026-08-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

High-Yield Credit Spread: 2.68% (as of 2026-09-07) — 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: Quoted bid/ask spread is 0.33% and average daily volume is 800K/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $1.67B 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