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BIZD
VanEck Vectors BDC Income ETF

Fund Description

The VanEck Vectors® BDC Income ETF (BIZDTM) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS®US Business Development Companies Index (MVBIZDTG), which tracks the overall performance of publicly traded business development companies.

 
 

  • Fund Ticker

    BIZD

  • Exchange

    NYSE Arca

  • ETF Structure

    Physical

  • Administrator

    Van Eck Associates

  • Custodian

    State Street Bank and Trust Company

  • Index Ticker

    MVBIZDTG

  • Index Rebalancing

    Quarterly

 
as of 09/21/20

  • 30-Day SEC Yield1

    12.33%

  • Total Net Assets

    $214.6M

  • Number of Holdings

    26

  • Options

    Expected

  • Gross Expense Ratio2

    10.31%

  • Net Expense Ratio/TER2

    10.24%

  • Distribution Frequency

    Quarterly
  • Expenses Explained

Key Points

  • High Income Potential7
    Business Development Companies (BDCs) have proven an attractive alternative income source historically
     
  • Exposure to Private Credit
    Target privately-held U.S. companies and thinly traded U.S. public companies which are generally difficult to access
     
  • Lending to Middle-Market Companies
    BDCs generate income by lending to, and investing in, private companies that tend to be below investment grade or not rated

Yield
as of 09/21/20

  • 30-Day SEC Yield1

    12.33%

  • Distribution Yield1

    12.71%

  • 12-Month Yield1

    12.18%
 1 See Important Disclosure for definitions.

Fees & Expenses2

  • Management Fee

    0.40%

  • Other Expenses

    0.08%

  • Acquired Fund Fees and Expenses

    9.83%

  • Gross Expense Ratio

    10.31%

  • Fee Waivers and
    Expense Reimbursement

    -0.07%

  • Net Expense Ratio/TER2

    10.24%
2Expenses for BIZD are capped contractually at 0.40% until September 1, 2021. Cap excludes acquired fund fees and expenses, interest expense, trading expenses, taxes and extraordinary expenses.

Trading Information

  • Fund Ticker

    BIZD

  • Index Total Return Ticker

    MVBIZDTG

  • NAV

    BIZDNV

  • Intraday NAV (IIV)5

    BIZDIV

  • Shares Outstanding

    17,725,000

  • Estimated Cash

    BIZDEU

  • Total Cash

    BIZDTC

  • CUSIP

    92189F411

  • ISIN

    US92189F4110
5See IIV Details. Source: Bloomberg

Prices as of 09/21/20

NAV/
Market Price 		Volume
30-Day Avg./
Last Trading Day 		Daily Change
NAV/
Last Price 		YTD Change
NAV/
Last Price 		Premium/
Discount 		Prem/Discount
Distribution Charts 		NAV &
Prem/Discount
History 		30-Day
Median
Bid Ask
Spread 		NAV
Chart
BIZD $12.10
$12.08		 81,956
131,979		 -$0.13 / -1.06%
$-0.12 / -0.98%		 -20.33%
-21.27%
 $-0.02
-0.21%		 0.33%

Premium/Discount History as of 09/21/20

Calendar Year 2019 3Q 2019 4Q 2019 1Q 2020 2Q 2020 Premium/Discount Charts NAV & Prem/Discount History
Days closed at a premium 179 45 46 41 36
BIZD Days closed at NAV 29 8 8 6 4
Days closed at a discount 44 11 10 15 23

Performance History: Average Annual Total Returns* (%)
View All ETFs View All Indices

1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
02/11/13
BIZD (NAV) 4.74 4.63 -19.63 -16.56 -1.00 2.90 -- 2.15
BIZD (Share Price) 4.54 4.93 -19.91 -16.65 -1.10 2.84 -- 2.15
MVBIZDTG (Index) 4.74 4.42 -22.35 -17.59 -1.24 2.67 -- 2.10
Performance Differential (NAV - Index) 0.00 0.21 2.72 1.03 0.24 0.23 -- 0.05
1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
02/11/13
BIZD (NAV) 0.07 34.34 -23.13 -19.14 -4.04 1.60 -- 1.59
BIZD (Share Price) 1.00 35.44 -22.91 -18.67 -3.89 1.63 -- 1.67
MVBIZDTG (Index) -0.02 33.78 -25.66 -20.01 -4.21 1.40 -- 1.55
Performance Differential (NAV - Index) 0.09 0.56 2.53 0.87 0.17 0.20 -- 0.04

*Returns less than one year are not annualized.

The table presents past performance which is no guarantee of future results and which may be lower or higher than current performance. Returns reflect temporary contractual fee waivers and/or expense reimbursements. Had the ETF incurred all expenses and fees, investment returns would have been reduced. Investment returns and ETF share values will fluctuate so that investors' shares, when redeemed, may be worth more or less than their original cost. ETF returns assume that dividends and capital gains distributions have been reinvested in the Fund at NAV.

The "After Tax Held" represents total return after taxes on distributions and assumes shares have not been sold. "After Tax Sold" represents total return after taxes on distributions and the sale of Fund shares. After-tax returns reflect the highest federal income tax rate but exclude state and local taxes. After-tax returns are based on NAV.

Top 10 Holdings (%) as of 08/31/20 Daily Holdings

Total Holdings: 26
Swipe
to view
full data
Holding Name
Ticker
Shares Market Value
(US$) 		% of Net
Assets
ARES CAPITAL CORP
ARCC US
2,330,092
34,275,653 15.95
OWL ROCK CAPITAL CORP
ORCC US
1,417,747
17,494,998 8.14
GOLUB CAPITAL BDC INC
GBDC US
902,243
11,891,563 5.53
HERCULES CAPITAL INC
HTGC US
1,000,247
11,222,771 5.22
FS KKR CAPITAL CORP
FSK US
682,333
10,930,975 5.09
MAIN STREET CAPITAL CORP
MAIN US
357,725
10,828,336 5.04
PROSPECT CAPITAL CORP
PSEC US
2,007,696
10,239,250 4.76
NEW MOUNTAIN FINANCE CORP
NMFC US
1,012,975
10,119,620 4.71
SIXTH STREET SPECIALTY LENDING INC
TSLX US
534,282
9,403,363 4.38
OAKTREE SPECIALTY LENDING CORP
OCSL US
1,685,487
8,427,435 3.92
Top 10 Total (%) 62.74
These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Sector Weightings (%) as of 08/31/20

  • Sector

    % of Net Assets
  • ■

    Financial

    97.7
  • ■

    Consumer, Non-cyclical

    2.4
  • ■

    Other/Cash

    -0.1

Currency Exposure (%)
as of 08/31/20

  • U.S. Dollar

    100.11

  • Other/Cash

    -0.11

Country Weightings (%) as of 08/31/20

  • Country

    % of Net Assets
  • ■

    United States

    100.11
  • ■

    Other/Cash

    -0.11