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BIZD
VanEck Vectors BDC Income ETF

Fund Description

The VanEck Vectors® BDC Income ETF (BIZD®) 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

  • Commencement

    02/11/2013

  • ETF Structure

    Physical

  • Administrator

    Van Eck Associates

  • Custodian

    State Street Bank and Trust Company

  • Index Ticker

    MVBIZDTG

  • Index Rebalancing

    Quarterly

 
as of 01/27/20

  • 30-Day SEC Yield1

    8.80%

  • Total Net Assets

    $252.2M

  • Number of Holdings

    25

  • Options

    Expected

  • Gross Expense Ratio2

    9.68%

  • Net Expense Ratio/TER2

    9.62%

  • Distribution Frequency

    Quarterly

  • Next Distribution Date

    03/31/2020
  • Expenses Explained

Key Points

  • High Income Potential

  • Only ETF Offering Pure-Play Exposure to BDCs

  • BDCs Generate Income by Lending to, and Investing in, Private Companies that tend to be Below Investment Grade or Not Rated

Yield
as of 01/27/20

  • 30-Day SEC Yield1

    8.80%

  • Distribution Yield1

    8.72%

  • 12-Month Yield1

    9.10%
 1 See Important Disclosure for definitions.

Fees & Expenses2

  • Management Fee

    0.40%

  • Other Expenses

    0.07%

  • Acquired Fund Fees and Expenses

    9.21%

  • Gross Expense Ratio

    9.68%

  • Fee Waivers and
    Expense Reimbursement

    -0.06%

  • Net Expense Ratio/TER2

    9.62%
2Expenses for BIZD are capped contractually at 0.40% until September 1, 2020. 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

    15,000,000

  • Estimated Cash

    BIZDEU

  • Total Cash

    BIZDTC

  • CUSIP

    92189F411

  • ISIN

    US92189F4110
5See IIV Details. Source: Bloomberg

Prices as of 01/27/20

NAV/
Last 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 		NAV
Chart
BIZD $16.81
$16.84		 154,149
96,955		 -$0.11 / -0.67%
$-0.07 / -0.41%		 +2.94%
+2.72%
 $0.03
0.17%

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) -1.11 1.41 29.53 29.53 6.67 7.84 -- 5.67
BIZD (Share Price) -0.71 1.60 31.65 31.65 6.83 7.90 -- 5.72
MVBIZDTG (Index) 1.08 3.67 28.98 28.98 6.94 7.86 -- 6.14
Performance Differential (NAV - Index) -2.19 -2.26 0.55 0.55 -0.27 -0.02 -- -0.47
1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
02/11/13
BIZD (NAV) -1.11 1.41 29.53 29.53 6.67 7.84 -- 5.67
BIZD (Share Price) -0.71 1.60 31.65 31.65 6.83 7.90 -- 5.72
MVBIZDTG (Index) 1.08 3.67 28.98 28.98 6.94 7.86 -- 6.14
Performance Differential (NAV - Index) -2.19 -2.26 0.55 0.55 -0.27 -0.02 -- -0.47

*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 "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.

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 12/31/19 Daily Holdings

Total Holdings: 25
Swipe
to view
full data
Holding Name
Ticker
Shares Market Value
(US$) 		% of Net
Assets
ARES CAPITAL CORP
ARCC US
2,698,790
50,332,434 19.91
FS KKR CAPITAL CORP
FSK US
3,284,212
20,132,220 7.96
MAIN STREET CAPITAL CORP
MAIN US
409,177
17,639,620 6.98
GOLUB CAPITAL BDC INC
GBDC US
713,037
13,159,098 5.20
PROSPECT CAPITAL CORP
PSEC US
1,967,435
12,670,281 5.01
HERCULES CAPITAL INC
HTGC US
898,808
12,601,288 4.98
APOLLO INVESTMENT CORP
AINV US
671,277
11,720,496 4.64
NEW MOUNTAIN FINANCE CORP
NMFC US
838,975
11,527,517 4.56
TPG SPECIALTY LENDING INC
TSLX US
529,372
11,365,617 4.50
BLACKROCK TCP CAPITAL CORP
TCPC US
650,097
9,133,863 3.61
Top 10 Total (%) 67.35
These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Sector Weightings (%) as of 12/31/19

  • Sector

    % of Net Assets
  • ■

    Financial

    98.0
  • ■

    Consumer, Non-cyclical

    2.0
  • ■

    Other/Cash

    0.0

Currency Exposure (%)
as of 12/31/19

  • U.S. Dollar

    99.97

  • Other/Cash

    0.03

Country Weightings (%) as of 12/31/19

  • Country

    % of Net Assets
  • ■

    United States

    99.97
  • ■

    Other/Cash

    0.03