Are you making the most of fallen-angel bonds in your high-yield strategy?
Increasing an allocation to fallen angels tends to improve the risk-adjusted performance potential of a high-yield portfolio. That's because fallen angels can enhance yields without moving lower in credit ratings.
They can also add convexity: fallen angels tend to outperform other high-yield bonds in an economic recovery but fall less in a negative credit market.
Learn more about why fallen angels stand out in high yield space by clicking on the link below.
This post is funded by Lombard Odier