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CBON
VanEck Vectors ChinaAMC China Bond ETF

  • Fund Description

    The VanEck Vectors ChinaAMC China Bond ETF (CBON®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the ChinaBond China High Quality Bond Index (CDHATRID), which is comprised of fixed-rate, Renminbi ("RMB")-denominated bonds issued in the People's Republic of China by Chinese credit, governmental and quasi-governmental (e.g., policy banks) issuers.

  •  
      

    • Fund Ticker

      CBON
    • Exchange

      NYSE Arca
    • Commencement

      11/10/2014
    • ETF Structure

      Physical
    • Administrator

      Van Eck Associates
    • Custodian

      Bank of New York Mellon
    • Index Ticker

      CDHATRID
    • Index Rebalancing

      Monthly
  •  
    as of 05/23/17

    • 30-Day SEC Yield1

      4.11%
    • Total Net Assets

      $4.4M
    • Number of Holdings

      16
    • Options

      Expected
    • Gross Expense Ratio2

      1.12%
    • Net Expense Ratio/TER2

      0.50%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      05/31/2017
  • Key Points

    • Access to China's Onshore Bonds
      Largest emerging markets bond market, once closed to U.S. investors

    • Attractive Yields, Low Correlation
      Onshore bond market with historical yield premium to developed bond markets, low correlation to core asset classes

    • Sub-Advised by ChinaAMC (H.K.)
      One of the largest asset managers in China*
    * By mutual fund and ETF assets under management as of December 31, 2016.
    • Yields
      as of 05/23/17

      • 30-Day SEC Yield1

        4.11%
      • Distribution Yield1

        3.11%
      • 12-Month Yield1

        3.11%
       1 See Important Disclosure for definitions.
    • Fees & Expenses2

      • Management Fee

        0.40%
      • Other Expenses

        0.72%
      • Acquired Fund Fees and Expenses

        --
      • Gross Expense Ratio

        1.12%
      • Fee Waivers and
        Expense Reimbursement

        -0.62%
      • Net Expense Ratio/TER2

        0.50%
      2Expenses for CBON are capped contractually at 0.50% until 09/01/17. Cap excludes certain expenses, such as interest.
    • Trading Information

      • Fund Ticker

        CBON
      • Index Total Return Ticker

        CDHATRID
      • NAV

        CBONNV
      • Intraday NAV (IIV)5

        CBONIV
      • Shares Outstanding

        200,000
      • Estimated Cash

        CBONEU
      • Total Cash

        CBONTC
      • CUSIP

        92189F379
      • ISIN

        US92189F3799
      5See IIV Details. Source: Bloomberg
    • Fundamentals4
      as of 05/22/17

      • Yield to Maturity

        4.40%
      • Coupon

        4.50%
      • Modified Duration (yrs)

        4.12
      • Years to Maturity

        4.74
       4 See Important Disclosure for definitions.
    • Prices as of 05/23/17

      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
      CBON $22.08
      $21.99
      1,060
      300
      $0.00 / -0.01%
      $0.14 / +0.62%
      +0.6%
      +1.4%
      $-0.09
      -0.40%
    • View All IndicesView All ETFsPerformance History: Average Annual Total Returns* (%)

      1 MO3 MOYTD1 YR3 YR5 YR10 YRLIFE
      11/10/14
      CBON (NAV)-0.13-1.400.76-6.00-------2.12
      CBON (Share Price)-0.86-1.870.21-6.81-------2.78
      CDHATRID (Index)-0.76-0.81-0.16-5.79-------1.22
      Performance Differential (NAV - Index)0.63-0.590.92-0.21-------0.90
      After Tax Held-0.25-1.730.42-6.31-------2.62
      After Tax Sold-0.08-0.790.43-3.39-------1.82
      Quarter End as of 03/31/17
      1 MO3 MOYTD1 YR3 YR5 YR10 YRLIFE
      11/10/14
      CBON (NAV)-0.470.900.90-7.00-------2.13
      CBON (Share Price)-0.431.091.09-7.02-------2.52
      CDHATRID (Index)-0.160.600.60-6.28-------0.95
      Performance Differential (NAV - Index)-0.310.300.30-0.72-------1.18
      After Tax Held-0.580.670.67-7.20-------2.61
      After Tax Sold-0.270.510.51-3.96-------1.82
    • Daily HoldingsTop 10 Holdings (%) as of 04/30/17

      Total Holdings: 19
      Holding Name
      Coupon
      Maturity
      Country
      Currency
      % of Net
      Assets
      China Development Bank Corp
      5.840
      01/03/2019
      China
      CNY
      19.66
      China Government Bond
      3.400
      04/17/2023
      China
      CNY
      15.92
      China Government Bond
      4.260
      07/31/2021
      China
      CNY
      8.08
      Power Construction Corp Of China Ltd
      5.200
      10/29/2022
      China
      CNY
      6.88
      Offshore Oil Engineering Co Ltd
      5.770
      11/09/2017
      China
      CNY
      4.69
      Power Construction Corp Of China
      5.700
      04/23/2019
      China
      CNY
      4.49
      Jiangsu Communications Holding Co Ltd
      4.510
      12/12/2017
      China
      CNY
      4.47
      China Fortune Land Development Co Ltd
      5.100
      10/20/2022
      China
      CNY
      4.45
      China Petroleum & Chemical Corp
      4.900
      06/01/2022
      China
      CNY
      3.92
      Shanghai Urban Construction Group Corp
      3.500
      01/06/2023
      China
      CNY
      3.39
      Top 10 Total (%)75.95

      These are not recommendations to buy or to sell any security. Securities and holdings may vary.

      †See Country of Risk disclosure. These are not recommendations to buy or to sell any security. Securities and holdings may vary. Composite Rating: An evenly weighted blend of a security's Moody's, S&P, Fitch and DBRS ratings. Not Rated indicates that a security is rated by fewer than two of the four rating agencies. This composite is not intended to be a credit opinion. These are not recommendations to buy or to sell any security. Securities and holdings may vary.

    • Country Weightings (%) as of 04/30/17

      • Country

        % of Net Assets
      • CHINA

        94.34
      • Other/Cash

        5.66
    • Currency Exposure (%)
      as of 04/30/17

      • China Renminbi

        94.34
      • Other/Cash

        5.66
    • Sector Weightings (%) as of 04/30/17

      • Sector

        % of Net Assets
      • Financial

        29.8
      • Government

        24.0
      • Industrial

        20.2
      • Energy

        8.6
      • Consumer, Non-cyclical

        7.0
      • Diversified

        2.4
      • Basic Materials

        2.3
      • Other/Cash

        5.7
    • Maturity (%) as of 04/30/17

      Average Portfolio Maturity: 4.73 Years