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EMLC
VanEck J.P. Morgan EM Local Currency Bond UCITS ETF

Fund Description

VanEck J.P. Morgan EM Local Currency Bond UCITS ETF offers access to a diversified and liquid portfolio of Emerging Market bonds for investors that are looking for a yield pick-up versus other fixed income segments. It provides an attractive blend of risk and reward because emerging market countries tend to have less leveraged public finances, and their central banks have increasingly adopted conventional monetary policies.

  • Significantly higher yields than developed market bonds of the same quality
  • Portfolio of bonds issued by emerging markets governments in their local currencies
  • Diversified across 19 countries
  • Restricted to countries whose debt can be freely traded by international investors
  • Current lowest total expense ratio among all European ETFs in this category


Risk factors: Foreign Currency Risk, Emerging Markets Risk, Credit Risk



Underlying Index

J.P. Morgan GBI-EMG Core Index (GBIEMCOR)

Fund Details
 

  • Fund Ticker

    EMLC
  • Management Company

    VanEck Asset Management B.V.
  • Custodian

    State Street Custodial Services (Ireland) Limited
  • Domicile

    Ireland
  • UCITS Compliant

    Yes
  • Index Ticker

    GBIEMCOR
  • Index Provider

    J.P. Morgan
  • Rebalance Frequency

    Monthly
1The "Net Asset Value" (NAV) of all ETFs is determined at the close of each business day, and represents the value of one share of the fund; it is calculated by taking the total assets of the fund, subtracting total liabilities, and dividing by the total number of shares outstanding. The NAV is not necessarily the same as the ETF 's intraday trading value. Investors should not expect to buy or sell ETF shares at NAV.

2The date the fund was launched prior to quotation on the stock exchange.

 
as of 26 Sep 2022

  • NAV1

    50.11
  • Shares Outstanding

    1,530,000
  • Number of Holdings

    300
  • Base Currency

    USD
  • Net Assets

    $76.7M
  • Product Structure

    Physical (Optimized)
  • Income Treatment

    Reinvestment
  • Distribution Frequency

    None
  • Total Expense Ratio

    0.30%
  • SFDR Classification

    Article 6
  • Fact Sheet
  • Fund Holiday Calendar

Fundamentals3
as of 26 Sep 2022

  • Yield to Worst

    7.99%
  • Yield to Maturity

    8.08%
  • Effective Duration (yrs)

    4.64
  • Years to Maturity

    6.86
  • Modified Duration (yrs)

    4.72
  • Coupon

    5.54%
3These figures represent averages. Yield to Worst measures the lowest of either yield-to-maturity or yield-to-call date on every possible call date. Yield to Maturity is the annualized return on a bond held to maturity. Effective Duration measures a bond's sensitivity to interest rate changes that reflects the change in a bond's price given a change in yield. This duration measure is appropriate for bonds with embedded options. Modified Duration measures a bond's sensitivity to interest rate changes that reflects the change in a bond's price given a change in yield. Spread Duration measures a bond's price sensitivity to a 100 basis point change to its option-adjusted spread. As the rate of the Treasury security in the option-adjusted spread increases, the rate of the option-adjusted spread also increases. Years to Maturity is the period of time for which a financial instrument remains outstanding. Maturity refers to a finite time period at the end of which the financial instrument will cease to exist and the principal is repaid. Coupon is measured by weighting the coupon of each bond by its relative size in the portfolio. Coupons are fixed percentages paid on a fixed-income security on an annual basis. Averages are market weighted. The Coupon and Yield to Worst do not represent the performance of the Fund. These statistics do not take into account fees and expenses associated with investments of the Fund.

Trading Information as of 26 Sep 2022

London
Stock Exchange
USD
Exchange Ticker EMLC
ISIN IE00BDS67326
SEDOL BDRXS19
Bloomberg EMLC LN
Reuters (RIC) --
Valor 36453832
Bloomberg iNAV EMLCUIV
Reuters iNAV EMLCINAV=SOLA
WKN A2DQKN
Trading Currency USD
Last Traded Price 50.01
Day's Move -0.78
Volume 1,217
30 Day Volume 162
VWAP Volume 1,217
London
Stock Exchange
GBP
Exchange Ticker EMGB
ISIN IE00BDS67326
SEDOL BYTPF19
Bloomberg EMGB LN
Reuters (RIC) --
Valor 36453832
Bloomberg iNAV EMLCUIV
Reuters iNAV EMLCINAV=SOLA
WKN A2DQKN
Trading Currency GBP
Last Traded Price 46.34
Day's Move -0.04
Volume 0
30 Day Volume 160
VWAP Volume 0
Deutsche
Börse
EUR
Exchange Ticker EM1C
ISIN IE00BDS67326
SEDOL BYPCZ25
Bloomberg EM1C GY
Reuters (RIC) --
Valor 36453832
Bloomberg iNAV EMLCUEIV
Reuters iNAV EMLCEURINAV=SOLA
WKN A2DQKN
Trading Currency EUR
Last Traded Price 51.88
Day's Move -0.33
Volume 7,340
30 Day Volume 3,020
VWAP Volume 7,340
SIX
Swiss Exchange
CHF
Exchange Ticker EMLC
ISIN IE00BDS67326
SEDOL --
Bloomberg EMLC SE
Reuters (RIC) --
Valor 36453832
Bloomberg iNAV EMLCUIV
Reuters iNAV EMLCINAV=SOLA
WKN A2DQKN
Trading Currency CHF
Last Traded Price 49.91
Day's Move 0.00
Volume 0
30 Day Volume 91
VWAP Volume 0
Borsa
Italiana
EUR
Exchange Ticker EMLC
ISIN IE00BDS67326
SEDOL --
Bloomberg EMLC IM
Reuters (RIC) --
Valor 36453832
Bloomberg iNAV EMLCUEIV
Reuters iNAV EMLCEURINAV=SOLA
WKN A2DQKN
Trading Currency EUR
Last Traded Price 51.83
Day's Move -0.34
Volume 0
30 Day Volume 139
VWAP Volume 0

NAVs as of 26 Sep 2022

Base
Currency
NAV Daily
Change
NAV
YTD
Change
NAV
NAV Price
History
Total
Expense
Ratio
EMLC USD $50.11 $-0.67 / -1.31% -16.58%
0.30

Performance History* (%)

Month End as of 31 Aug 2022 1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR ETF INCEPTION
ETF (NAV) 0.39 -4.25 -12.71 -18.50 -5.28 -3.99 -- -2.47
GBIEMCOR (Index) 0.32 -3.93 -12.66 -18.30 -4.78 -3.33 -1.67 -1.78
Performance Differential (NAV - Index) 0.07 -0.32 -0.05 -0.20 -0.50 -0.66 -- -0.69
Quarter End as of 30 Jun 2022 1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR ETF INCEPTION
ETF (NAV) -4.52 -8.56 -12.96 -18.48 -6.50 -3.38 -- -2.60
GBIEMCOR (Index) -4.25 -8.31 -12.95 -18.32 -5.92 -2.71 -1.48 -1.90
Performance Differential (NAV - Index) -0.27 -0.25 -0.01 -0.16 -0.58 -0.67 -- -0.70
Calendar Year as of 31 Dec 2021 2017 2018 2019 2020 2021
ETF (NAV) -- -7.85 9.27 2.66 -9.68
GBIEMCOR (Index) 14.66 -6.90 10.14 3.46 -9.23

Market Makers

Top 10 Holdings (%) as of 31 Aug 2022 View All Holdings »

Total Holdings: 304
Holding Name
Coupon
Maturity
Composite
Rating
Country
Currency
% of Net
Assets
BRAZIL LETRAS DO TESOURO NACIONAL
0.000
01 Jan 2024
BB-
Brazil
BRL
2.3135
BRAZIL LETRAS DO TESOURO NACIONAL
0.000
01 Jul 2023
BB-
Brazil
BRL
1.7680
REPUBLIC OF SOUTH AFRICA GOVERNMENT BON
10.500
21 Dec 2026
BB
South Africa
ZAR
1.3388
PHILIPPINE GOVERNMENT INTERNATIONAL BON
6.250
14 Jan 2036
BBB
Philippines
PHP
1.0896
BRAZIL NOTAS DO TESOURO NACIONAL SERIE
10.000
01 Jan 2027
BB-
Brazil
BRL
1.0631
MEXICAN BONOS
5.750
05 Mar 2026
BBB
Mexico
MXN
1.0508
BRAZIL NOTAS DO TESOURO NACIONAL SERIE
10.000
01 Jan 2025
BB-
Brazil
BRL
1.0239
MEXICAN BONOS
7.750
29 May 2031
BBB+
Mexico
MXN
0.9440
DOMINICAN REPUBLIC INTERNATIONAL BOND
9.750
05 Jun 2026
BB-
Dominican Repb.
DOP
0.9261
REPUBLIC OF SOUTH AFRICA GOVERNMENT BON
8.000
31 Jan 2030
BB
South Africa
ZAR
0.9047
Top 10 Total (%) 12.41
These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Country Weightings (%) as of 31 Aug 2022

  • Country

    % of Net Assets
  • Indonesia

    10.07
  • China

    9.85
  • Brazil

    9.05
  • Mexico

    8.65
  • Malaysia

    7.68
  • South Africa

    7.15
  • Thailand

    7.09
  • Poland

    5.36
  • Czech Republic

    4.60
  • Other/Cash

    30.50

Currency Exposure (%)
as of 31 Aug 2022

  • Indonesian Rupiah

    10.07
  • Chinese Renminbi

    9.85
  • Brazilian Real

    9.05
  • Mexican Peso

    8.65
  • Malaysian Ringgit

    7.68
  • South African Rand

    7.15
  • Thailand Baht

    7.09
  • Polish Zloty

    5.36
  • Czech Koruna

    4.60
  • Colombian Peso

    4.34
  • Romanian Leu

    4.03
  • Peruvian New Sol

    3.65
  • Hungarian Forint

    3.65
  • Chilean Peso

    3.48
  • Turkish Lira

    3.41
  • Egyptian Pound

    3.10
  • Uruguay Peso

    1.27
  • Dominican Rep. Peso

    1.26
  • Serbian Dinar

    1.23
  • Philippines Peso

    1.09
  • Other/Cash

    -0.01

Sector Weightings (%) as of 31 Aug 2022

  • Sector

    % of Net Assets
  • Government Activity

    99.8
  • Industrials

    0.0
  • Other/Cash

    0.1

Credit Quality (%) as of 31 Aug 2022

Composite % of Net Assets
Investment Grade AA 4.51
A 25.68
BBB 41.11
Non-Investment Grade BB 19.84
B 6.51
Total Investment Grade -- 71.30
Total Non-Investment Grade -- 26.35
Not Rated -- 1.82

Maturity (%) as of 31 Aug 2022

 Average Maturity: 6.88 Years