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AFK
VanEck Vectors Africa Index ETF

  • Fund Description

    VanEck Vectors® Africa Index ETF (AFK®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS GDP Africa Index (MVAFKTR), which includes local listings of companies that are incorporated in Africa and listings of companies incorporated outside of Africa but that have at least 50% of their revenues/related assets in Africa.

  •  
      

    • Fund Ticker

      AFK
    • Exchange

      NYSE Arca
    • Index Total Return Ticker

      MVAFKTR
    • Index Provider

      MV Index Solutions
    • Administrator

      Van Eck Associates
    • Custodian

      Bank of New York Mellon
    • Index Ticker

      MVAFKTR
    • Commencement

      07/10/2008
  •  
    as of 07/25/17

    • 30-Day SEC Yield1

      1.19%
    • Total Net Assets

      $74.7M
    • Number of Holdings

      85
    • Options

      Expected
    • Gross Expense Ratio2

      0.83%
    • Net Expense Ratio/TER2

      0.79%
    • Distribution Frequency

      Annual
    • Next Distribution Date

      12/15/2017
  • Portfolio Composition (%)
    as of 07/25/17

    • % of Net Assets
    • Stocks

      99.72
    • Bonds

      0.00
    • Other

      0.00
    • Cash

      0.28
  • Daily HoldingsDaily Holdings (%) as of 07/25/17

    Total Holdings: 85
    Holding Name
    Ticker
    SharesMarket Value
    (US$)
    % of Net
    Assets
    Commercial International Bank Egypt Sae
    CBKD LI
    1,263,884
    6,243,5878.36
    Naspers Ltd
    NPN SJ
    27,794
    6,104,6728.17
    Centamin Plc
    CEY LN
    1,436,915
    3,043,0304.07
    Safaricom Ltd
    SAFCOM KN
    13,128,900
    2,968,6253.97
    Guaranty Trust Bank Plc
    GUARANTY NL
    27,261,972
    2,699,1623.61
    Nepi Rockcastle Plc
    NRP SJ
    185,468
    2,514,8813.37
    Tullow Oil Plc
    TLW LN
    1,250,565
    2,501,2743.35
    First Quantum Minerals Ltd
    FM CN
    219,903
    2,456,9193.29
    Attijariwafa Bank
    ATW MC
    50,998
    2,378,5913.18
    Randgold Resources Ltd
    GOLD US
    25,581
    2,302,5463.08
    Ivanhoe Mines Ltd
    IVN CN
    589,469
    2,276,8683.05
    Iamgold Corp
    IAG US
    409,790
    2,053,0482.75
    Maroc Telecom
    IAM MC
    138,691
    2,003,9762.68
    Banque Centrale Populaire
    BCP MC
    64,273
    1,974,8582.64
    Global Telecom Holding Sae
    GTHE EY
    4,809,233
    1,816,2242.43
    Zenith Bank Plc
    ZENITHBA NL
    26,465,014
    1,668,0682.23
    Nigerian Breweries Plc
    NB NL
    3,452,005
    1,432,3821.92
    Anglo American Plc
    AAL LN
    89,356
    1,368,3641.83
    Steinhoff International Holdings Nv
    SNH SJ
    245,184
    1,265,1741.69
    Standard Bank Group Ltd
    SBK SJ
    96,299
    1,178,5611.58
    Sasol Ltd
    SSL US
    39,339
    1,167,5821.56
    Mtn Group Ltd
    MTN SJ
    115,444
    1,099,9591.47
    Firstrand Ltd
    FSR SJ
    274,941
    1,076,1241.44
    Bmce Bank
    BCE MC
    46,633
    1,009,9071.35
    Golden Agri-Resources Ltd
    GGR SP
    3,560,700
    1,005,9761.35
    Egyptian Financial Group-Hermes Holding
    EFGD LI
    369,559
    994,1141.33
    Makemytrip Ltd
    MMYT US
    25,455
    869,2881.16
    Kosmos Energy Ltd
    KOS US
    130,332
    838,0351.12
    Old Mutual Plc
    OML LN
    319,305
    808,9011.08
    Africa Oil Corp
    AOI SS
    484,791
    776,6301.04
    Talaat Moustafa Group
    TMGH EY
    1,807,785
    755,4321.01
    Sanlam Ltd
    SLM SJ
    127,045
    653,6070.87
    Nestle Nigeria Plc
    NESTLE NL
    264,324
    631,6960.85
    Semafo Inc
    SMF CN
    258,680
    621,3850.83
    Aspen Pharmacare Holdings Ltd
    APN SJ
    28,364
    604,7980.81
    Remgro Ltd
    REM SJ
    34,276
    555,0220.74
    Shoprite Holdings Ltd
    SHP SJ
    35,186
    541,1170.72
    B2gold Corp
    BTG US
    203,982
    534,4330.72
    Bid Corp Ltd
    BID SJ
    22,311
    527,3570.71
    Royal Caribbean Cruises Ltd
    RCL US
    4,191
    481,6300.64
    Vodacom Group Ltd
    VOD SJ
    29,953
    413,0770.55
    Growthpoint Properties Ltd
    GRT SJ
    207,305
    392,8730.53
    Investec Plc
    INVP LN
    47,160
    362,1290.48
    Barclays Africa Group Ltd
    BGA SJ
    31,906
    359,1990.48
    Tiger Brands Ltd
    TBS SJ
    11,431
    340,1400.46
    Woolworths Holdings Ltd/South Africa
    WHL SJ
    67,862
    328,6260.44
    Capitec Bank Holdings Ltd
    CPI SJ
    4,655
    300,6680.40
    Bidvest Group Ltd/The
    BVT SJ
    23,485
    298,2720.40
    Discovery Ltd
    DSY SJ
    27,741
    290,1330.39
    Anglogold Ashanti Ltd
    AU US
    27,577
    264,1880.35
    Redefine Properties Ltd
    RDF SJ
    311,546
    258,1280.35
    Rmb Holdings Ltd
    RMH SJ
    54,366
    258,0630.35
    Mondi Ltd
    MND SJ
    9,113
    238,5910.32
    Nedbank Group Ltd
    NED SJ
    14,403
    233,5590.31
    Mediclinic International Plc
    MDC LN
    23,875
    229,9660.31
    Mr Price Group Ltd
    MRP SJ
    15,875
    212,4260.28
    Resilient Reit Ltd
    RES SJ
    21,072
    209,0650.28
    Psg Group Ltd
    PSG SJ
    9,521
    193,4880.26
    Gold Fields Ltd
    GFI US
    51,052
    190,4240.25
    Fortress Income Fund Ltd
    FFB SJ
    61,262
    177,6460.24
    Clicks Group Ltd
    CLS SJ
    15,070
    169,9460.23
    Sappi Ltd
    SAP SJ
    24,832
    169,5520.23
    Hyprop Investments Ltd
    HYP SJ
    18,700
    169,2830.23
    Rand Merchant Investment Holdings Ltd
    RMI SJ
    51,396
    162,5940.22
    Avi Ltd
    AVI SJ
    21,492
    159,9000.21
    Life Healthcare Group Holdings Ltd
    LHC SJ
    78,193
    152,3660.20
    Pick N Pay Stores Ltd
    PIK SJ
    31,636
    146,8810.20
    Netcare Ltd
    NTC SJ
    74,258
    142,4390.19
    Sibanye Gold Ltd
    SBGL US
    30,201
    141,9450.19
    Imperial Holdings Ltd
    IPL SJ
    10,519
    139,4940.19
    Mmi Holdings Ltd/South Africa
    MMI SJ
    82,730
    133,3450.18
    Truworths International Ltd
    TRU SJ
    22,441
    130,6240.17
    Exxaro Resources Ltd
    EXX SJ
    15,399
    126,3690.17
    Investec Ltd
    INL SJ
    16,606
    126,1600.17
    Pioneer Foods Group Ltd
    PFG SJ
    12,044
    125,0140.17
    Anglo American Platinum Ltd
    AMS SJ
    5,192
    124,1010.17
    Spar Group Ltd/The
    SPP SJ
    10,114
    124,0090.17
    Foschini Group Ltd/The
    TFG SJ
    10,375
    121,2680.16
    Telkom Sa Soc Ltd
    TKG SJ
    22,599
    111,2120.15
    Coronation Fund Managers Ltd
    CML SJ
    21,125
    110,7600.15
    Liberty Holdings Ltd
    LBH SJ
    11,523
    100,6520.13
    Eoh Holdings Ltd
    EOH SJ
    10,772
    88,8370.12
    Barloworld Ltd
    BAW SJ
    9,494
    82,1900.11
    Impala Platinum Holdings Ltd
    IMP SJ
    30,226
    80,7160.11
    Other/Cash
    --
    --
    208,6830.28
    These are not recommendations to buy or to sell any security. Securities and holdings may vary.

    As of May 8, 2017, AFK is fair valuing the Nigerian Naira spot rate referencing the FMDQ OTC NAFEX. The valuation methodology may change in the future. As of such date, using the FMDQ OTC NAFEX, in addition to securities denominated in Nigerian Naira, AFK held approximately USD$2.6million in Nigerian Naira cash balances. Foreign currency cash balances are subject to frequent change.
  • Important Disclosure

    VanEck only serves professional clients in countries where the funds are registered or where funds can be sold in accordance with local private placement rules. 

    130-Day SEC Yield is a standard yield calculation developed by the Securities and Exchange Commission that allows for fairer comparisons among funds. It is based on the most recent 30-day period. This yield figure reflects the interest earned during the period after deducting the fund's expenses for the period. It does not reflect the yield an investor would have received if they had held the fund over the last twelve months assuming the most recent NAV. Distributions may vary from time to time.

    2AFK Fees & Expenses: Van Eck Associates Corporation (the "Adviser") has agreed to waive fees and/or pay Fund expenses to the extent necessary to prevent the operating expenses of the Fund (excluding acquired fund fees and expenses, interest expense, offering costs, trading expenses, taxes and extraordinary expenses) from exceeding 0.78% of the Fund's average daily net assets per year until at least May 1, 2018. During such time, the expense limitation is expected to continue until the Fund's Board of Trustees acts to discontinue all or a portion of such expense limitation. TER, or Total Expense Ratio, is also referred to as "Net Expense Ratio".

    3Morningstar Ratings : If applicable, when the ETF is rated three stars or more for any given period. ©Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. 

    4IIV is an abbreviation for the intraday indicative value of an ETF's Shares (and is also known as the Indicative Optimized Portfolio Value or IOPV), and is disseminated every 15 seconds during regular trading hours. The IIV is based on the current market value of the securities and/or cash required to be deposited in exchange for a Creation Unit. The IIV does not necessarily reflect the precise composition of the current portfolio of securities held by the Fund at a particular point in time or the best possible valuation of the current portfolio. Therefore, the IIV should not be viewed as a "real-time" update of the Fund’s NAV, which is computed only once a day. The Fund is not involved in, or responsible for, the calculation or dissemination of the IIV and makes no warranty as to its accuracy.

    5Index data prior to June 21, 2013 reflects that of the Dow Jones Africa Titans 50 Index (DJAFKT). From June 21, 2013, forward, the index data reflects that of the Fund's underlying index, MVIS GDP Africa Index (MVAFKTR). Index history which includes periods prior to June 21, 2013 reflects a blend of the performance of DJAFKT and MVAFKTR and is not intended for third party use.

    6The S&P 500® Index consists of 500 widely held common stocks covering industrial, utility, financial and transportation sector; as an Index, it is unmanaged and is not a security in which investments can be made.

    For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics.

    An investment in the Fund may be subject to risks which include, among others, investing in African issuers, foreign securities, emerging and frontier market issuers, foreign currency, depositary receipts, basic materials sector, consumer discretionary sector, financial services sector, telecommunications sector, small- and medium- capitalization companies, cash transactions, equity securities, market, operational, index tracking, authorized participant concentration, no guarantee of active trading market, trading issues, replication management, fund shares trading, premium/discount risk and liquidity of fund shares and concentration risks, all of which may adversely affect the Fund. Foreign and frontier markets investments are subject to risks, which include changes in economic and political conditions, foreign currency fluctuations, changes in foreign regulations, changes in currency exchange rates, unstable governments, restrictions of foreign ownership, and limited trading capacity which may make these investments volatile in price or difficult to trade. Small- and medium- capitalization companies may be subject to elevated risks. The Fund's assets may be concentrated in a particular sector and may be subject to more risk than investments in a diverse group of sectors.

    MVIS GDP Africa Index is the exclusive property of MV Index Solutions GmbH (a wholly owned subsidiary of the Adviser), which has contracted with Solactive AG to maintain and calculate the Index. Solactive AG uses its best efforts to ensure that the Index is calculated correctly. Irrespective of its obligations towards MV Index Solutions GmbH, Solactive AG has no obligation to point out errors in the Index to third parties. The MVIS Africa Index ETF is not sponsored, endorsed, sold or promoted by MV Index Solutions GmbH and MV Index Solutions GmbH makes no representation regarding the advisability of investing in the Fund.

    Index returns are not Fund returns and do not reflect any management fees or brokerage expenses. Investors can not invest directly in the Index. Returns for actual Fund investors may differ from what is shown because of differences in timing, the amount invested and fees and expenses. Index returns assume that dividends have been reinvested.

    The "Net Asset Value" (NAV) of a VanEck Vectors Exchange Traded Fund (ETF) is determined at the close of each business day, and represents the dollar 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. VanEck Vectors ETF investors should not expect to buy or sell shares at NAV.

    Fund shares are not individually redeemable and will be issued and redeemed at their NAV only through certain authorized broker-dealers in large, specified blocks of shares called "creation units" and otherwise can be bought and sold only through exchange trading. Shares may trade at a premium or discount to their NAV in the secondary market. You will incur brokerage expenses when trading Fund shares in the secondary market. Past performance is no guarantee of future results. Returns for actual Fund investments may differ from what is shown because of differences in timing, the amount invested, and fees and expenses.

    Investing involves substantial risk and high volatility, including possible loss of principal. Bonds and bond funds will decrease in value as interest rates rise. An investor should consider the investment objective, risks, charges and expenses of the Fund carefully before investing. To obtain a prospectus and summary prospectus, which contains this and other information, call 800.826.2333 or visit vaneck.com/etfs. Please read the prospectus and summary prospectus carefully before investing.

    This content is published in the United States for residents of specified countries. Investors are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this content. Nothing in this content should be considered a solicitation to buy or an offer to sell shares of any investment in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction, nor is it intended as investment, tax, financial, or legal advice. Investors should seek such professional advice for their particular situation and jurisdiction.