International Investors Gold FundINIVX

  • Daily Price   as of 02/12/16

    $7.36 $0.18 / +2.5%
  • Class A Details: INIVX

    02/10/56 1.47%/1.45%
  • Country Weightings (%) as of 01/31/16

    United States
    United Kingdom
  • Sector Weightings (%)
    as of 01/31/16

    Gold 85.5
    Precious Metals & Minerals 7.4
    Silver 4.0
    Diversified Metals & Mining 1.4
    Cash 1.7
  • Top 10 Holdings (%) 

    Agnico-Eagle Mines Limited Gold 9.0
    Randgold Resources Limited Gold 6.0
    Goldcorp Inc. Gold 4.4
    Newcrest Mining Limited Gold 4.3
    Tahoe Resources Inc. Precious Metals & Minerals 3.9
    Evolution Mining Limited Gold 3.6
    Eldorado Gold Corporation Gold 3.6
    B2Gold Corp. Gold 3.5
    SEMAFO Inc. Gold 3.4
    Newmont Mining Corporation Gold 3.3
    Top 10 Total 45.0
    Agnico-Eagle Mines Limited Gold 7.7
    Randgold Resources Limited Gold 6.0
    Goldcorp Inc. Gold 5.6
    B2Gold Corp. Gold 5.5
    Eldorado Gold Corporation Gold 4.7
    Tahoe Resources Inc. Precious Metals & Minerals 4.3
    Newcrest Mining Limited Gold 4.2
    Silver Wheaton Corp. Silver 3.7
    Alamos Gold Inc. Gold 3.6
    Royal Gold Inc. Gold 3.4
    Top 10 Total 48.7

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

  • Fund Details 
    as of 01/31/16

    • Net Assets (All Classes)
    • Number of Holdings
    • Turnover Rate (2015)
    • P/B (last 12 months)*
    • Benchmark Indices2
      NYSE ARCA Gold Miners Index (GDM)
      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 1/31/16

    Large (>=$10.0 billion) 5.6%
    Mid (<$10 billion >= $2.0 billion) 33.0%
    Small (< $2 billion) 61.4%

    Market capitalization (cap) is the value of a corporation as determined by the market price of its issued and outstanding common stock. Market capitalization ranges listed above are specific to the gold mining industry.

  • Three-Year Risk Measures & Statistics 
    as of 01/31/16

    Volatility (Standard Deviation) 36.09
    Sharpe Ratio -0.77
    Alpha vs. NYSE Arca Gold Miners Index 1.18
    Beta vs. NYSE Arca Gold Miners Index 0.95
    R-squared vs. NYSE Arca Gold Miners Index 94.65
    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.
  • Narrowing the Universe

    Narrowing the Gold Equities Universe 
    This graphic is for illustrative purposes only, and the Fund's portfolio construction process may change over time.
  • Gold Fund Portfolio Construction

    Type of Company Target Number of Holdings Individual Holding Range Target Fund Allocations
    Medium- to Large-Cap Gold Top 10 3.5% to 10% 50%
    Small-Cap Gold or Silver 20-40 0.5% to 3% 10-40%
    Medium- to Large-Cap
    Gold, Silver (non-top 10)
    20-30 0.5% to 3.5% 10-40%

    This table is for illustrative purposes only, and the Fund's portfolio construction process may change over time. This table shows the typical holding and allocation range for Van Eck International Investors Gold Fund. We employ a bottom-up process that searches for: 1) organic growth; 2) value; 3) acquisition targets; and 4) strong Management. In addition, we then employ our top-down macro process that: 1) adjusts weightings to match gold price outlook; 2) seeks to increase beta with positive outlook (unhedged producers, high-cost producers, juniors); and 3) seeks to decrease gold beta with negative outlook (hedged producers, large-cap stocks, gold vehicles including bullion, ETFs, structured notes)

  • Gold-Mining Industry Discoveries

     Gold-Mining Industry Discoveries 
    Joe Foster, Portfolio Manager: "One of our key themes for Van Eck International Investors Gold Fund is that we believe that decreasing mine production and gold deposit discoveries, coupled with the potential for inflationary pressures (particularly among emerging markets), as well as investment and jewelry demand, should further support gold equities."
    Data Source: CIBC, Van Eck Research. Data as of March 31, 2015. This chart is for illustrative purposes only. Historical information is not indicative of future results; current data may differ from data quoted.
  • Industry Benchmarks: Know Your Indices

    • The NYSE Arca Gold Miners Index (GDM) is a modified market capitalization-weighted index comprised of publicly traded companies involved primarily in mining for gold.
    • The S&P® 500 Index consists of 500 widely held common stocks covering industrial, utility, financial and transportation sectors.
    • All indices listed are unmanaged and are not securities in which investments can be made.
  • 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 and summary prospectus for more information.

    1Expenses are calculated for the 12-month period ending 05/01/15: Class A: Gross 1.47% and Net 1.45%; Class C: Gross 2.34 and Net 2.20%; Class I: Gross 1.07% and Net 1.00%; and Class Y: Gross 1.31% and Net 1.13%. Expenses are capped contractually through 05/01/16 at 1.45% for Class A; 2.20% for Class C; 1.00% for Class I; and 1.10% for Class Y. Caps exclude certain expenses, such as interest.

    2The NYSE Arca Gold Miners Index (GDM) is a modified market capitalization-weighted index comprised of publicly traded companies involved primarily in mining for gold. The S&P® 500 Index, calculated with dividends reinvested, consists of 500 leading companies in leading industries of the U.S. economy. The U.S. Dollar Index (DXY) indicates the general international value of the U.S. dollar. The DXY does this by averaging the exchange rates between the U.S. dollar and six major world currencies. 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 the risks associated with concentrating its assets in the gold industry, which can be significantly affected by international economic, monetary and political developments. The Fund’s overall portfolio may decline in value due to developments specific to the gold industry. 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, CMOs and small- or mid-cap companies. The Fund is also subject to inflation risk, short-sales risk, market risk, non-diversification risk and leverage risk. Please see the prospectus and summary prospectus for information on these as well as 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.