iShares Fallen Angels USD Bond ETF (FALN) Performance
FALN total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −0.8% since Dec 31, 2025
- 1 year
- −0.2% total return
- 5 years
- +2.8% a year
- 10 years
- +5.3% a year
- Since first price
- +6.1% a year since 2016
FALN trailing returns vs AGG, TLT, SPY
| Period | FALN total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | −1.6% | −2.2% | +0.9% | +1.5% | −1.0% |
| 3 months | −2.4% | −4.0% | −0.4% | −1.0% | +3.2% |
| 6 months | −2.0% | −5.2% | −1.5% | −3.8% | +7.8% |
| YTD | −0.8% | −5.6% | −1.0% | −3.4% | +12.3% |
| 1 year | −0.2% | −6.5% | −1.1% | −6.9% | +14.4% |
| 3 years | +28.3%+8.7%/yr | +6.1% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | +14.9%+2.8%/yr | −13.9% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| 10 years | +67.8%+5.3%/yr | −4.8% | +14.0%+1.3%/yr | −18.7%−2.0%/yr | +315.9%+15.3%/yr |
| Since inceptionJun 17, 2016 | +84.5%+6.1%/yr | +2.6% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: FALN vs AGG
From Jun 17, 2016: FALN grew to $18,448, AGG to $11,493.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
FALN returns by calendar year
7 of 9 full years positive. Best 2019 (+17.4%), worst 2022 (−13.8%). 2026 is year to date.
FALN annual returns table
| Year | FALN | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | −0.8% | −4.5% | −1.0% | −3.4% | +12.3% |
| 2025 | +8.9% | −5.9% | +7.2% | +4.3% | +17.7% |
| 2024 | +7.7% | −2.6% | +1.3% | −8.1% | +24.9% |
| 2023 | +13.5% | −4.4% | +5.7% | +2.8% | +26.2% |
| 2022 | −13.8% | −18.0% | −13.0% | −31.2% | −18.2% |
| 2021 | +5.4% | −3.0% | −1.8% | −4.6% | +28.7% |
| 2020 | +14.9% | −29.2% | +7.5% | +18.2% | +18.3% |
| 2019 | +17.4% | −2.2% | +8.5% | +14.1% | +31.2% |
| 2018 | −5.0% | −8.2% | +0.1% | −1.6% | −4.6% |
| 2017 | +8.7% | −2.5% | +3.6% | +9.2% | +21.7% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
FALN largest drawdowns
Now 3.9% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 14, 2020 | −29.2% | Mar 20, 2020 | Jul 17, 2020 | 35 days | 5 months |
| Nov 9, 2021 | −18.8% | Oct 20, 2022 | Jun 5, 2024 | 11 months | 2.6 years |
| Jan 24, 2018 | −8.2% | Dec 24, 2018 | Mar 1, 2019 | 11 months | 1.1 years |
| Feb 28, 2025 | −5.9% | Apr 8, 2025 | Jun 9, 2025 | 39 days | 3 months |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
FALN risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2016 |
|---|---|---|---|---|
| Annualized return | +8.1% | +2.8% | +5.5% | +5.9% |
| Volatility (annualized) | 6.1% | 8.0% | 9.6% | 9.5% |
| Sharpe ratio | 0.59 | -0.07 | 0.37 | 0.42 |
| Sortino ratio | 0.98 | -0.09 | 0.51 | 0.59 |
| Best month | +5.9% | +5.9% | +11.7% | +11.7% |
| Worst month | −3.5% | −6.6% | −15.8% | −15.8% |
| Best 12 months | +17.2% | +17.2% | +37.7% | +37.7% |
| Worst 12 months | −0.4% | −17.3% | −17.3% | −17.3% |
| Positive months | 67% | 60% | 67% | 67% |
| Beta vs S&P 500 | 0.36 | 0.42 | 0.49 | — |
| Correlation with S&P 500 | 0.72 | 0.83 | 0.79 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
FALN rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 113 | −17.3% | +7.5% | +37.7% | 80% |
| 3-year (a year) | 89 | −0.7% | +6.2% | +12.4% | 99% |
| 5-year (a year) | 65 | +2.2% | +4.8% | +9.2% | 100% |
| 10-year (a year) | 5 | +5.4% | +5.9% | +6.4% | 100% |
Every holding period starting at a month-end since 2016. Returns for 3 years and longer are annualized.
FALN performance overview
iShares Fallen Angels USD Bond ETF (FALN) returned −0.2% over the past year and +5.3% a year over ten years, with distributions reinvested. Since its first recorded price in 2016 it has returned +6.1% a year, turning $10,000 into about $18,448. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −29.2%, from Feb 14, 2020 to Mar 20, 2020, and it took 4 months to get back to the old high. FALN finished 7 of its 9 full calendar years with a gain; the best year was 2019 (+17.4%) and the worst 2022 (−13.8%). Volatility has been 9.5% a year.
Related: FALN chart, FALN dividends, FALN bond profile. See the FALN overview for the latest quote and fund facts.
FALN performance FAQ
What is the FALN return over the past year?
FALN returned −0.2% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 6.5%.
What is the average annual return of FALN?
FALN has returned +2.8% a year over 5 years, +5.3% a year over 10 years, +6.1% a year since June 17, 2016 (total return, distributions reinvested).
How much would $10,000 invested in FALN be worth?
$10,000 invested in FALN at its first recorded close on June 17, 2016 would be worth about $18,448 on October 23, 2026 with distributions reinvested.
What was the worst year for FALN?
The worst calendar year was 2022, with a total return of −13.8%. The best was 2019 at +17.4%.
What is the biggest drawdown of FALN?
The largest peak-to-trough decline was −29.2% between February 14, 2020 and March 20, 2020. It recovered to the old high on July 17, 2020, 4 months after the bottom.
How volatile is FALN?
Over the past 3 years FALN had an annualized volatility of 6.1% and a Sharpe ratio of 0.59 (excess return over 1–3 month T-bills per unit of risk).