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GFA
VanEck Vectors Global Fallen Angel High Yield Bond UCITS ETF

Fund Description

The VanEck Vectors Global Fallen Angel High Yield Bond UCITS ETF invests in corporate fixed income securities that were rated investment grade at the time of issuance and have been downgraded to the high-yield segment (so-called “fallen angels”).

  • Global Fallen Angels have a historically higher average credit quality than ordinary high-yield issuers
  • Investors can benefit from possible temporary price distortions triggered by credit rating downgrades and the resulting return
  • Diversification in sectors, countries and in these currencies: USD, GBP, EUR and CAD



Underlying Index

ICE Global Fallen Angel High Yield 10% Constrained Index

Fund Details
 

  • Fund Ticker

    GFA
  • Management Company

    VanEck Asset Management B.V.
  • Custodian

    State Street Custodial Services (Ireland) Limited
  • Domicile

    Ireland
  • UCITS Compliant

    YES
  • Index Ticker

    HWCF
  • Index Provider

    ICE Data Indices, LLC
  • 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 04 Aug 2021

  • NAV1

    65.37
  • Shares Outstanding

    766,000
  • Number of Holdings

    485
  • Base Currency

    USD
  • Net Assets

    $50.1M
  • Product Structure

    Physical (Optimized)
  • Income Treatment

    Reinvestment
  • Distribution Frequency

    None
  • Total Expense Ratio

    0.40%
  • SFDR Classification

    Article 6
  • Fact Sheet
  • ETF Product List
  • Fund Holiday Calendar

Fundamentals3
as of 04 Aug 2021

  • Yield to Worst

    3.23%
  • Yield to Maturity

    3.37%
  • Effective Duration (yrs)

    5.99
  • Years to Maturity

    9.21
  • Modified Duration (yrs)

    6.03
  • Coupon

    4.96%
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. Duration to Worst measures the duration of a bond computed using the bond's nearest call date or maturity, whichever comes first. This measure ignores future cash flow fluctuations due to embedded optionality. 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 04 Aug 2021

London
Stock Exchange
USD
Exchange Ticker GFA
ISIN IE00BF540Z61
SEDOL BF3W0N0
Bloomberg GFA LN
Reuters (RIC) GFA.L
Telekurs 40992308
Bloomberg iNAV GFAUSIV
Reuters iNAV GFAINAV=SOLA
WKN A2JEMG
Trading Currency USD
Last Traded Price 65.61
Day's Move -0.12
Volume 0
30 Day Volume 362
VWAP Volume 0
London
Stock Exchange
GBP
Exchange Ticker GFGB
ISIN IE00BF540Z61
SEDOL BF3W0P2
Bloomberg GFGB LN
Reuters (RIC) GFGB.L
Telekurs 40992308
Bloomberg iNAV GFAUSIV
Reuters iNAV GFAINAV=SOLA
WKN A2JEMG
Trading Currency GBP
Last Traded Price 47.11
Day's Move -0.15
Volume 0
30 Day Volume 45
VWAP Volume 316
Deutsche
Börse
EUR
Exchange Ticker GFEA
ISIN IE00BF540Z61
SEDOL --
Bloomberg GFEA GY
Reuters (RIC) GFEA.DE
Telekurs 40992308
Bloomberg iNAV GFAEUIV
Reuters iNAV GFAEURINAV=SOLA
WKN A2JEMG
Trading Currency EUR
Last Traded Price 55.38
Day's Move -0.03
Volume 364
30 Day Volume 429
VWAP Volume 364
SIX
Swiss Exchange
CHF
Exchange Ticker GFAA
ISIN IE00BF540Z61
SEDOL --
Bloomberg GFAA SE
Reuters (RIC) GFAA.S
Telekurs 40992308
Bloomberg iNAV GFAUSIV
Reuters iNAV GFAINAV=SOLA
WKN A2JEMG
Trading Currency CHF
Last Traded Price 59.60
Day's Move 0.00
Volume 0
30 Day Volume 101
VWAP Volume 0
Borsa
Italiana
EUR
Exchange Ticker GFA
ISIN IE00BF540Z61
SEDOL --
Bloomberg GFA IM
Reuters (RIC) GFA.MI
Telekurs 40992308
Bloomberg iNAV GFAEUIV
Reuters iNAV GFAEURINAV=SOLA
WKN A2JEMG
Trading Currency EUR
Last Traded Price 55.40
Day's Move -0.03
Volume 1,816
30 Day Volume 931
VWAP Volume 1,816

NAVs as of 04 Aug 2021

Base
Currency
NAV Daily
Change
NAV
YTD
Change
NAV
NAV Price
History
Total
Expense
Ratio
GFA USD $65.37 $-0.03 / -0.04% +3.05%
0.40

Performance History* (%)

Month End as of 31 Jul 2021 1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR ETF INCEPTION
ETF (NAV) 0.77 2.27 3.17 12.38 9.57 -- -- 8.32
HWCF (Index) 0.77 2.35 3.47 13.09 9.52 8.66 8.35 8.25
Performance Differential (NAV - Index) 0.00 -0.08 -0.30 -0.71 0.05 -- -- 0.07
Quarter End as of 30 Jun 2021 1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR ETF INCEPTION
ETF (NAV) 0.72 3.39 2.38 17.97 9.88 -- -- 8.29
HWCF (Index) 0.69 3.50 2.69 17.78 9.79 9.02 8.34 8.22
Performance Differential (NAV - Index) 0.03 -0.11 -0.31 0.19 0.09 -- -- 0.07

Top 10 Holdings (%) as of 31 Jul 2021 View All Holdings »

Total Holdings: 487
Holding Name
Coupon
Maturity
Composite
Rating
Country
Currency
% of Net
Assets
PETROLEOS MEXICANOS
7.690
23 Jan 2050
BB+
Mexico
USD
1.1189
CARNIVAL CORP
11.500
01 Apr 2023
BB-
United States
USD
1.0297
PETROLEOS MEXICANOS
6.500
13 Mar 2027
BB+
Mexico
USD
0.8662
FORD MOTOR CREDIT CO LLC
4.535
06 Mar 2025
BB+
United States
GBP
0.8386
PETROLEOS MEXICANOS
6.750
21 Sep 2047
BB+
Mexico
USD
0.8260
VODAFONE GROUP PLC
7.000
04 Apr 2079
BB+
United Kingdom
USD
0.7579
KRAFT HEINZ FOODS CO
4.375
01 Jun 2046
BB+
United States
USD
0.7533
TEVA PHARMACEUTICAL FINANCE NETHERLANDS
3.150
01 Oct 2026
BB-
Israel
USD
0.7268
SPRINT CAPITAL CORP
6.875
15 Nov 2028
BB
United States
USD
0.6515
SPRINT CAPITAL CORP
8.750
15 Mar 2032
BB
United States
USD
0.6289
Top 10 Total (%) 8.21
These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Country Weightings (%) as of 31 Jul 2021

  • Country

    % of Net Assets
  • United States

    44.62
  • Mexico

    9.98
  • Italy

    7.10
  • France

    6.21
  • Brazil

    5.52
  • Germany

    4.85
  • United Kingdom

    4.34
  • Colombia

    3.23
  • Israel

    3.01
  • Luxembourg

    1.41
  • South Africa

    1.13
  • Oman

    0.96
  • Spain

    0.92
  • Russia

    0.85
  • Canada

    0.83
  • Turkey

    0.79
  • Panama

    0.66
  • India

    0.53
  • Australia

    0.52
  • Kazakhstan

    0.44
  • Japan

    0.42
  • Uae

    0.42
  • Kuwait

    0.40
  • Peru

    0.36
  • Morocco

    0.35
  • Tanzania

    0.32
  • Thailand

    0.32
  • Finland

    0.18
  • Bermuda

    0.16
  • Trinidad And Tobago

    0.16
  • Austria

    0.14
  • China

    0.14
  • Chile

    0.06
  • Other/Cash

    -1.32

Currency Exposure (%)
as of 31 Jul 2021

  • U.S. Dollar

    74.85
  • Euro

    22.66
  • British Pound

    3.18
  • Canadian Dollar

    0.64
  • Other/Cash

    -1.32

Sector Weightings (%) as of 31 Jul 2021

  • Sector

    % of Net Assets
  • Energy

    28.4
  • Consumer Cyclicals

    16.3
  • Financials

    14.9
  • Technology

    8.8
  • Industrials

    7.5
  • Utilities

    6.5
  • Basic Materials

    6.2
  • Consumer Non-Cyclicals

    5.9
  • Healthcare

    4.4
  • Real Estate

    2.4
  • Other/Cash

    -1.3

Credit Quality (%) as of 31 Jul 2021

Composite % of Net Assets
Investment Grade BBB 2.51
Non-Investment Grade BB 90.88
B 5.67
CCC 0.61
DDD 0.02
Total Investment Grade -- 2.51
Total Non-Investment Grade -- 97.18
Not Rated -- 0.03
Source: Bloomberg. Rating is a proprietary composite of various rating agencies. A bond must be rated by two or more rating agencies to receive a composite rating; otherwise it is classified as Not Rated.

Maturity (%) as of 31 Jul 2021

 Average Maturity: 9.16 Years