Van Eck Global - Since 1955

Global Hard Assets FundGHACX

  • Daily Price   as of 04/17/2014

    NAV DAILY CHANGE
    $50.63000000  $0.29 / +0.6%
  • Class C Details: GHACX

    INCEPTION DATE GROSS/NET EXPENSES1
    11/02/94 2.21%/2.20%
  • Fund Literature

  • Country Weightings (%) as of 03/31/14

    COUNTRY % OF NET ASSETS
    United States 73.4
    Canada 6.8
    Switzerland 5.9
    Zambia 3.2
    United Kingdom 2.0
    Nigeria 1.6
    Israel 0.9
    Tanzania 0.8
    Marshall Islands 0.4
    Kuwait 0.2
    Sierra Leone 0.2
    Cash 4.6
    Total 100
  • Sector Weightings (%)
    as of 03/31/14

    % OF NET ASSETS
    Oil Gas & Consumable Fuels 46.8
    Energy Equipment & Services 22.2
    Metals & Mining 19.9
    Machinery 1.7
    Paper & Forest Products 1.6
    Chemicals 1.5
    Construction & Engineering 0.8
    Food Products 0.7
    Unassigned 0.2
    Cash 4.6
    Total 100.0
  • Top 10 Holdings (%) 

    HOLDING INDUSTRY % OF
    NET ASSETS
    Glencore Xstrata plc Metals & Mining 5.0
    Halliburton Company Energy Equipment & Services 4.3
    Schlumberger NV Energy Equipment & Services 4.2
    Cimarex Energy Co. Oil, Gas & Consumable Fuels 4.2
    Pioneer Natural Resources Company Oil, Gas & Consumable Fuels 4.0
    Concho Resources Inc. Oil, Gas & Consumable Fuels 4.0
    CONSOL Energy Inc. Oil, Gas & Consumable Fuels 3.9
    First Quantum Minerals Ltd. Metals & Mining 3.2
    Anadarko Petroleum Corporation Oil, Gas & Consumable Fuels 3.2
    EOG Resources Inc. Oil, Gas & Consumable Fuels 3.1
    Top 10 Total 39.1
    HOLDING INDUSTRY % OF
    NET ASSETS
    Glencore Xstrata plc Metals & Mining 5.0
    Halliburton Company Energy Equipment & Services 4.3
    Schlumberger NV Energy Equipment & Services 4.2
    Cimarex Energy Co. Oil, Gas & Consumable Fuels 4.2
    Pioneer Natural Resources Company Oil, Gas & Consumable Fuels 4.0
    Concho Resources Inc. Oil, Gas & Consumable Fuels 4.0
    CONSOL Energy Inc. Oil, Gas & Consumable Fuels 3.9
    First Quantum Minerals Ltd. Metals & Mining 3.2
    Anadarko Petroleum Corporation Oil, Gas & Consumable Fuels 3.2
    EOG Resources Inc. Oil, Gas & Consumable Fuels 3.1
    Top 10 Total 39.1

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

  • Fund Details 
    as of 03/31/14

    • Net Assets (All Classes)
      $4177.2M
    • Number of Holdings
      55
    • Avg. Wtd. Market Cap
      $14.1B
    • Turnover Rate (2013)
      33%
    • P/E (last 12 months)*
      18.1
    • P/B (last 12 months)*
      1.9
    • Benchmark Indices2
      SPGINRTR Index
      S&P® 500 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.

  • Market Capitalization (Cap) Breakdown (%) as of 03/31/14

    MARKET CAPITALIZATION % OF NET ASSETS
    Large (>= $10 billion) 58.8%
    Mid (<$10 billion >=2 billion) 38.8%
    Small (< $2 billion) 2.4%
    Average Weighted Market Cap $14.1B
    MARKET CAPITALIZATION % OF NET ASSETS

    Market capitalization (cap) is the value of a corporation as determined by the market price of its issued and outstanding common stock.

  • Three-Year Risk Measures and Statistics 
    as of 03/31/14

    Volatility (Standard Deviation) 22.47
    Sharpe Ratio -0.18
    Alpha vs. SPGINRTR Index -3.71
    Beta vs. SPGINRTR Index 1.07
    R-squared vs. SPGINRTR Index 95.36
    Source: Van Eck Global, Morningstar.
    Volatility is the annualized standard deviation of monthly returns. Sharpe ratio is the return less the risk free rate divided by the standard deviation and measures risk-adjusted return. Alpha is a measure of the difference between a portfolio's actual returns and its expected performance, given its level of risk as measured by beta. Beta is a measure of sensitivity to market movements. R-squared reflects the percentage of a fund's movements that can be explained by movements in its benchmark index.
  • Industry Benchmarks: Know Your Indices

    • The S&P® North American Natural Resources Sector Index (SPGINRTR) is a commodity equities benchmark and includes mining, energy, paper and forest products, and plantation-owning companies.

    • The S&P® 500 Index consists of 500 widely held common stocks covering industrial, utility, financial and transportation sectors.

    • The S&P® Goldman Sachs Commodity Index (SPGSCITR) is a composite index of commodity sector returns, representing an unleveraged, long-only investment in commodity futures. High energy concentration; limited diversification. The index benefits when energy is strong, and suffers when energy is weak.

    • The Dow Jones-UBS Commodity Index (DJUBS) is composed of futures contracts on 20 physical commodities covering seven sectors, specifically energy, petroleum, precious metals, industrial metals, grains, livestock and softs. Energy exposure is limited to no more than 33%; the manager cannot invest above that level no matter how favorable the energy market.

    All indices listed are unmanaged and are not securities in which investments can be made.

  • Sector Weights (%): Fund vs. Industry Benchmarks as of 12/31/13

    VAN ECK GLOBAL HARD ASSETS FUND (CLASS A) INDUSTRY BENCHMARKS
    2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 SPGINRTR DJUBS SPGSCITR
    Energy 45.0 55.4 65.1 54.2 61.2 59.0 63.0 65.6 57.4 58.8 72.1 85.4 38.9 69.0
    Precious Metals 14.5 8.5 13.1 14.8 13.6 20.3 13.7 12.3 15.3 13.4 6.6 4.8 11.3 3.6
    Base Metals 15.9 13.0 11.9 17.9 13.9 9.3 14.7 15.6 13.4 15.4 10.5 3.5 16.7 6.9
    Agriculture/Timber 12.5 8.7 6.7 3.9 1.8 2.5 2.6 0.9 3.6 1.2 3.2 1.6 33.0 15.6
    Other/Cash/Equivalents 12.1 15.4 3.2 9.2 9.5 8.9 6.0 5.6 10.3 11.2 7.6 4.7 0.0 5.0
    Total 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0

    This table is updated once annually. Please note the information in this table represents the Fund’s implementation of its investment strategy as of 12/31/10, and this investment strategy may change at any time. It is not intended to be a forecast of future events, a guarantee of future results or investment advice. 

    SPGINRTR sector weightings shown are month-end weightings as of December 31, 2013. 

    DJUBS sector weightings shown here are approximate weightings as of December 31, 2013.

    SPGSCITR sector weightings shown here are month-end weightings as of December 31, 2012 (most recent information available).

  • 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 12/31/13: 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 S&P® 500 Index consists of 500 widely held common stocks covering industrial, utility, financial and transportation sectors. The S&P® Goldman Sachs Commodity Total Return Index (SPGSCITR) is a composite index of commodity sector returns, representing an unleveraged, long-only investment in commodity futures. 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. 

    Not FDIC Insured — No Bank Guarantee — May Lose Value 

    Van Eck Securities Corporation, Distributor
    335 Madison Avenue, 19th Floor
    New York, NY 10017
    800.826.2333