Global Hard Assets FundGHAAX

  • Daily Price   as of 02/05/16

    NAV DAILY CHANGE
    $24.54 $-0.54 / -2.2%
  • Class A Details: GHAAX

    INCEPTION DATE GROSS/NET EXPENSES1
    11/02/94 1.43%/1.38%
  • Fund Summary & Key Points

    The Van Eck Global Hard Assets Fund seeks long-term capital appreciation by investing primarily in hard asset securities. Income is a secondary consideration.

    • Actively managed commodity-equities portfolio investing in companies involved in the exploration, production and distribution of hard assets
    • Offers exposure to energy, precious and base metals, agriculture, alternative energy and other hard assets
    • Expertly managed by an extensive investment team that is among the industry’s largest, and includes trained geologist and engineers as well as senior analysts with deep sector experience
    • Investment approach focuses on company research and skillful stock selection, as well as disciplined risk management

  • Making the Investment Case for Hard Assets

  • Fund Details 
    as of 12/31/15

    • Net Assets (All Classes)
      $1958.5M
    • Number of Holdings
      45
    • Avg. Wtd. Market Cap
      $8.9B
    • Turnover Rate (2014)
      36%
    • P/E (last 12 months)*
      20.8
    • P/B (last 12 months)*
      1.2
    • Benchmark Indices2
      SPGINRTR Index

    *Price-to-Earnings (P/E) ratio is the price of a stock divided by its earnings per share. Price-to-Book (P/B) ratio is the ratio of a stock's price to its book value.

  • Hard Assets Investment Team

    Van Eck Hard Assets Investment Team Photo
  • Investment Style Box

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    This investment style box is based on the Fund's overall targeted capitalization range and relative valuation as determined by Van Eck Global.

  • Performance History: Average Annual Total Returns* (%)

    1 MO*3 MO*YTD*1 YR3 YR5 YR10 YRLIFE
    (11/02/94)
    Van Eck Global Hard Assets Fund: Class A
    At Net Asset Value-11.56-6.85-33.42-33.42-15.93-12.68-0.376.97
    At Maximum 5.75% Sales Charge-16.66-12.22-37.24-37.24-17.57-13.70-0.966.68
    SPGINRTR Index2-10.84-1.81-24.28-24.28-7.32-5.501.48--
    MSCI ACWI Commodity Producers - Gross Return2-7.32-0.51-25.32-25.32-12.68-9.61-0.11--
    1 MO*3 MO*YTD*1 YR3 YR5 YR10 YRLIFE
    (11/02/94)
    Van Eck Global Hard Assets Fund: Class A
    At Net Asset Value-11.56-6.85-33.42-33.42-15.93-12.68-0.376.97
    At Maximum 5.75% Sales Charge-16.66-12.22-37.24-37.24-17.57-13.70-0.966.68
    SPGINRTR Index2-10.84-1.81-24.28-24.28-7.32-5.501.48--
    MSCI ACWI Commodity Producers - Gross Return2-7.32-0.51-25.32-25.32-12.68-9.61-0.11--
  • Top 10 Holdings (%) 

    HOLDING INDUSTRY % OF
    NET ASSETS
    Concho Resources Inc. Oil, Gas & Consumable Fuels 5.1
    Pioneer Natural Resources Company Oil, Gas & Consumable Fuels 5.1
    Schlumberger NV Energy Equipment & Services 5.0
    Cimarex Energy Co. Oil, Gas & Consumable Fuels 5.0
    Agnico-Eagle Mines Limited Metals & Mining 4.5
    EOG Resources Inc. Oil, Gas & Consumable Fuels 4.4
    Valero Energy Corporation Oil, Gas & Consumable Fuels 4.3
    Diamondback Energy Inc. Oil, Gas & Consumable Fuels 4.3
    Halliburton Company Energy Equipment & Services 4.0
    CF Industries Holdings Inc. Chemicals 3.7
    Top 10 Total 45.4
    HOLDING INDUSTRY % OF
    NET ASSETS
    Concho Resources Inc. Oil, Gas & Consumable Fuels 5.1
    Pioneer Natural Resources Company Oil, Gas & Consumable Fuels 5.1
    Schlumberger NV Energy Equipment & Services 5.0
    Cimarex Energy Co. Oil, Gas & Consumable Fuels 5.0
    Agnico-Eagle Mines Limited Metals & Mining 4.5
    EOG Resources Inc. Oil, Gas & Consumable Fuels 4.4
    Valero Energy Corporation Oil, Gas & Consumable Fuels 4.3
    Diamondback Energy Inc. Oil, Gas & Consumable Fuels 4.3
    Halliburton Company Energy Equipment & Services 4.0
    CF Industries Holdings Inc. Chemicals 3.7
    Top 10 Total 45.4

    These are not recommendations to buy or sell any security. Sectors and holdings may vary.

  • Sector Weightings (%)
    as of 12/31/15

    % OF NET ASSETS
    Oil Gas & Consumable Fuels 48.5
    Metals & Mining 20.9
    Energy Equipment & Services 15.1
    Chemicals 6.2
    Paper & Forest Products 3.0
    Road & Rail 1.2
    Semiconductors & Semiconductor Equipment 0.8
    Unassigned 0.6
    Electrical Equipment 0.4
    Cash 3.3
  • Country Weightings (%) as of 12/31/15

    COUNTRY % OF NET ASSETS
    United States
    75.2
    Canada
    14.3
    United Kingdom
    2.9
    Switzerland
    2.8
    Bermuda
    0.7
    Monaco
    0.6
    Kuwait
    0.2
    Cash
    3.3
  • Important Disclosure

    Unless otherwise stated, portfolio facts and statistics are shown for Class A shares; other classes may have different characteristics.

     NAV: Unless you are eligible for a waiver, the public offering price you pay when you buy Class A shares of the Fund is the Net Asset Value (NAV) of the shares plus an initial sales charge. The initial sales charge varies depending upon the size of your purchase.  No sales charge is imposed where Class A or Class C shares are issued to you pursuant to the automatic investment of income dividends or capital gains distributions. It is the responsibility of the financial intermediary to ensure that the investor obtains the proper “breakpoint” discount. Class C, Class I and Class Y do not have an initial sales charge; however, Class C does charge a contingent deferred redemption charge.  See the prospectus for more information.

    1Expenses are calculated for the 12-month period ending 05/01/14: Class A: Gross 1.45% and Net 1.38%; Class C: Gross 2.21% and Net 2.20%; Class I: Gross 1.02% and Net 1.00%; and Class Y: Gross 1.16% and Net 1.13%. Expenses are capped contractually through 05/01/14 at 1.38% for Class A; 2.20% for Class C; 1.00% for Class I; and 1.13% for Class Y. Caps exclude certain expenses, such as interest.

    2The S&P® North American Natural Resources Sector Index (SPGINRTR) includes mining, energy, paper and forest products, and plantation-owning companies. The MSCI ACWI Commodity Producers Index captures the global opportunity set of commodity producers in the energy, metal and agricultural sectors. All indices are unmanaged and include the reinvestment of all dividends, but do not reflect the payment of transaction costs, advisory fees or expenses that are associated with an investment in the Fund. An index’s performance is not illustrative of the Fund’s performance. Indices are not securities in which investments can be made.

    The views and opinions expressed are those of Van Eck Global. Fund manager commentaries are general in nature and should not be construed as investment advice. Opinions are subject to change with market conditions. Any discussion of specific securities mentioned in the commentaries is neither an offer to sell nor a solicitation to buy these securities. Fund holdings will vary.

    You can lose money by investing in the Fund. Any investment in the Fund should be part of an overall investment program, not a complete program. The Fund is subject to risks associated with concentrating its investments in hard assets and the hard assets sector, including real estate, precious metals and natural resources, and can be significantly affected by events relating to these industries, including international political and economic developments, inflation, and other factors. The Fund’s portfolio securities may experience substantial price fluctuations as a result of these factors, and may move independently of the trends of industrialized companies. The Fund’s investments in foreign securities involve risks related to adverse political and economic developments unique to a country or a region, currency fluctuations or controls, and the possibility of arbitrary action by foreign governments, including the takeover of property without adequate compensation or imposition of prohibitive taxation. The Fund is subject to risks associated with investments in debt securities, derivatives, commodity-linked instruments, illiquid securities, asset-backed securities and CMOs. The Fund is also subject to inflation risk, short-sales risk, market risk, non-diversification risk, leverage risk, credit risk and counterparty risk. Please see the prospectus for information on these and other risk considerations.

    Investing involves risk, including possible loss of principal. An investor should consider investment objectives, risks, charges and expenses of the investment company carefully before investing. The prospectus and summary prospectus contain this and other information.  Please read them carefully before investing.