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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 24 Sep 2021

  • NAV1

    65.59
  • Shares Outstanding

    766,000
  • Number of Holdings

    476
  • Base Currency

    USD
  • Net Assets

    $50.2M
  • 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 24 Sep 2021

  • Yield to Worst

    3.15%
  • Yield to Maturity

    3.32%
  • Effective Duration (yrs)

    5.85
  • Years to Maturity

    8.98
  • Modified Duration (yrs)

    5.89
  • Coupon

    4.92%
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 24 Sep 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 65.94
Day's Move -0.26
Volume 1,560
30 Day Volume 234
VWAP Volume 1,560
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 48.22
Day's Move 0.03
Volume 0
30 Day Volume 81
VWAP Volume 0
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 56.38
Day's Move -0.07
Volume 19
30 Day Volume 282
VWAP Volume 19
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 61.27
Day's Move -0.07
Volume 0
30 Day Volume 117
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 56.26
Day's Move -0.18
Volume 851
30 Day Volume 597
VWAP Volume 851

NAVs as of 24 Sep 2021

Base
Currency
NAV Daily
Change
NAV
YTD
Change
NAV
NAV Price
History
Total
Expense
Ratio
GFA USD $65.59 $-0.23 / -0.35% +3.40%
0.40

Performance History* (%)

Month End as of 31 Aug 2021 1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR ETF INCEPTION
ETF (NAV) 0.35 1.85 3.53 10.96 10.25 -- -- 8.22
HWCF (Index) 0.47 1.94 3.96 11.69 10.15 8.36 8.93 8.18
Performance Differential (NAV - Index) -0.12 -0.09 -0.43 -0.73 0.10 -- -- 0.04
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 Aug 2021 View All Holdings »

Total Holdings: 479
Holding Name
Coupon
Maturity
Composite
Rating
Country
Currency
% of Net
Assets
PETROLEOS MEXICANOS
7.690
23 Jan 2050
BB
Mexico
USD
1.1028
PETROLEOS MEXICANOS
6.500
13 Mar 2027
BB
Mexico
USD
0.8660
FORD MOTOR CREDIT CO LLC
4.535
06 Mar 2025
BB+
United States
GBP
0.8285
PETROLEOS MEXICANOS
6.750
21 Sep 2047
BB
Mexico
USD
0.8144
KRAFT HEINZ FOODS CO
4.375
01 Jun 2046
BB+
United States
USD
0.7576
VODAFONE GROUP PLC
7.000
04 Apr 2079
BB+
United Kingdom
USD
0.7544
TEVA PHARMACEUTICAL FINANCE NETHERLANDS
3.150
01 Oct 2026
BB-
Israel
USD
0.7228
SPRINT CAPITAL CORP
6.875
15 Nov 2028
BB+
United States
USD
0.6586
TEVA PHARMACEUTICAL FINANCE NETHERLANDS
2.800
21 Jul 2023
BB-
Israel
USD
0.6401
PETROLEOS MEXICANOS
6.840
23 Jan 2030
BB
Mexico
USD
0.6261
Top 10 Total (%) 7.77
These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Country Weightings (%) as of 31 Aug 2021

  • Country

    % of Net Assets
  • United States

    42.77
  • Mexico

    10.11
  • Italy

    7.04
  • France

    6.17
  • Brazil

    5.40
  • Germany

    4.82
  • United Kingdom

    4.46
  • Colombia

    3.36
  • Israel

    3.09
  • Luxembourg

    1.40
  • South Africa

    1.13
  • Oman

    0.96
  • Spain

    0.91
  • Russia

    0.85
  • Canada

    0.83
  • Turkey

    0.80
  • Australia

    0.53
  • Kazakhstan

    0.44
  • India

    0.43
  • Uae

    0.42
  • Japan

    0.42
  • Kuwait

    0.39
  • Peru

    0.37
  • Morocco

    0.34
  • Thailand

    0.31
  • Panama

    0.31
  • Finland

    0.18
  • Trinidad And Tobago

    0.16
  • Bermuda

    0.16
  • Austria

    0.14
  • Chile

    0.07
  • Other/Cash

    1.24

Currency Exposure (%)
as of 31 Aug 2021

  • U.S. Dollar

    72.46
  • Euro

    22.53
  • British Pound

    3.14
  • Canadian Dollar

    0.63
  • Other/Cash

    1.24

Sector Weightings (%) as of 31 Aug 2021

  • Sector

    % of Net Assets
  • Energy

    27.9
  • Consumer Cyclicals

    15.5
  • Financials

    14.6
  • Technology

    8.4
  • Industrials

    7.1
  • Utilities

    6.4
  • Basic Materials

    6.0
  • Consumer Non-Cyclicals

    5.9
  • Healthcare

    4.5
  • Real Estate

    2.4
  • Other/Cash

    1.2

Credit Quality (%) as of 31 Aug 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 Aug 2021

 Average Maturity: 9.12 Years