FALN vs PHYL: Differences, Returns & Fees
FALN's duration was 4.6 years on Jul 31, 2026 and PHYL's 3.0 on May 29, 2026; FALN charges 0.25% to PHYL's 0.39%. Net assets: $1.6bn on Oct 20, 2026 for iShares Fallen Angels USD Bond ETF, and $1.5bn on Oct 19, 2026 for PGIM Active High Yield Bond ETF.
FALN costs 0.14 points a year less; their one-year returns differ by 1.6 points.
| FALN | PHYL | |
|---|---|---|
| Expense ratio | 0.25% | 0.39% |
| Net assets, as of Oct 19, 2026 | $1.6bn | $1.5bn |
| Total return, 1 year | −0.8% | +0.8% |
| What it tracks | Bloomberg US High Yield Fallen Angel 3% Capped Index | No index, actively managed |
| Holdings in common | 1% | |
| Below its high | 4.4%, high on Aug 13, 2026 | |
Holdings in common uses holdings dated May 29, 2026 and Jul 31, 2026.
FALN and PHYL are built for the same job. How do they differ in cost, holdings and results?
- What each follows. FALN follows Bloomberg US High Yield Fallen Angel 3% Capped Index and PHYL follows No index, actively managed.
- Holdings in common. 1% of the weight is in the same securities (holdings dated Jul 31, 2026 and May 29, 2026).
- Number of holdings. FALN holds 156 positions and PHYL holds 783.
Data as of Oct 20, 2026. The differences are picked by a fixed rule, in a fixed order; the PDF prints it. Page 2 has the returns, overlap, risks and sources.
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What they hold in common
By the books each fund has filed, FALN and PHYL hold 1% of their money in the same securities at the same weight. Holdings dated May 29, 2026 and Jul 31, 2026.
half
1% in common
On the same fields
FALN and PHYL on the fields both publish, as of Oct 20, 2026. Source: ETFIQ.
About FALN
FALN tracks an index. Over the year to Oct 20, 2026 it returned −0.8% with distributions reinvested, against −1.6% for its benchmark, the Bloomberg U.S. Universal Index. The prospectus expense ratio is 0.25% a year. It sat 4.4% below its high of Aug 13, 2026 on Oct 20, 2026.
About PHYL
PHYL is actively managed and tracks no index. Over the year to Oct 20, 2026 it returned +0.8% with distributions reinvested, against −1.9% for its benchmark, the Bloomberg US Aggregate Bond Index. The prospectus expense ratio is 0.39% a year.
Questions people ask
- Which returned more over the last year, FALN or PHYL?
- In the year to Oct 20, 2026, with distributions reinvested, FALN returned −0.8% and PHYL +0.8%.
- Which is cheaper, FALN or PHYL?
- FALN is cheaper, by 0.14 percentage points a year. That is about $14 on $10,000 held for a year. Fees come from each fund's prospectus.
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How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
Cite this pageCitation, APA and Markdown
ETFIQ, FALN against PHYL, data as of Oct 20, 2026. https://etfiq.com/compare/any/faln-vs-phyl
ETFIQ. (Oct 20, 2026). FALN against PHYL. Retrieved from https://etfiq.com/compare/any/faln-vs-phyl
[FALN against PHYL (ETFIQ, Oct 20, 2026)](https://etfiq.com/compare/any/faln-vs-phyl)
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