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EMAG
VanEck Vectors Emerging Markets Aggregate Bond ETF

  • Fund Description

    The VanEck Vectors Emerging Markets Aggregate Bond ETF (EMAG®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS™ EM Aggregate Bond Index (MVEMAG), which is comprised of sovereign bonds and corporate bonds denominated in U.S. dollars, Euros or local emerging markets currencies, and includes both investment grade and below investment grade rated securities.

  •  
      

    • Fund Ticker

      EMAG

    • Exchange

      NYSE Arca

    • Commencement

      05/11/2011

    • ETF Structure

      Physical

    • Administrator

      Van Eck Associates

    • Custodian

      Bank of New York Mellon

    • Index Ticker

      MVEMAG

    • Commencement Date†

      05/11/2011

    †Effective December 10, 2013, VanEck Vectors® LatAm Aggregate Bond ETF (BONO) changed its underlying index and changed its name to VanEck Vectors Emerging Markets Aggregate Bond ETF (EMAG). See details below.

  •  
    as of 05/23/17

    • 30-Day SEC Yield1

      4.08%

    • Total Net Assets

      $15.2M

    • Number of Holdings

      149

    • Options

      Expected

    • Gross Expense Ratio2

      1.21%

    • Net Expense Ratio/TER2

      0.49%

    • Distribution Frequency

      Monthly

    • Next Distribution Date

      05/31/2017

  • Key Points

    • Single trade access to the comprehensive universe of emerging markets bonds

    • Diversified by currency, sector, country and credit quality

    • Blended strategy provides exposure to the higher yield potential of local rates, while limiting the volatility associated with emerging markets currencies

  • Yield
    as of 05/23/17

    • 30-Day SEC Yield1

      4.08%

    • Distribution Yield1

      4.19%

    • 12-Month Yield1

      4.28%
     1 See Important Disclosure for definitions.

  • Fees & Expenses2

    • Management Fee

      0.35%

    • Other Expenses

      0.86%

    • Acquired Fund Fees and Expenses

      --

    • Gross Expense Ratio

      1.21%

    • Fee Waivers and
      Expense Reimbursement

      -0.72%

    • Net Expense Ratio/TER2

      0.49%
    2Expenses for EMAG are capped contractually at 0.49% until 09/01/17. Cap excludes certain expenses, such as interest.

  • Trading Information

    • Fund Ticker

      EMAG

    • Index Total Return Ticker

      MVEMAG

    • NAV

      EMAGNV

    • Intraday NAV (IIV)5

      EMAGIV

    • Shares Outstanding

      700,000

    • Estimated Cash

      EMAGEU

    • Total Cash

      EMAGTC

    • CUSIP

      92189F478

    • ISIN

      US92189F4789
    5See IIV Details. Source: Bloomberg

  • Fundamentals4
    as of 05/23/17

    • Yield to Worst

      4.63%

    • Yield to Maturity

      4.65%

    • Effective Duration (yrs)

      4.49

    • Years to Maturity

      6.23

    • Modified Duration (yrs)

      4.52

    • Coupon

      6.27%
     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
    EMAG $21.74
    $21.78     		873
    1,016     		$0.02 / +0.11%
    $0.45 / +2.11%     		+6.3%
    +8.9%
    		 $0.04
    0.16%

  • View All IndicesView All ETFsPerformance History: Average Annual Total Returns* (%)

    1 MO3 MOYTD1 YR3 YR5 YR10 YRLIFE
    05/11/11**
    EMAG (NAV)1.073.355.434.270.991.39--2.15
    EMAG (Share Price)0.465.707.005.730.901.33--2.03
    MVEMAG (Index)**1.183.965.945.801.812.36--3.49
    Performance Differential (NAV - Index)-0.11-0.61-0.51-1.53-0.82-0.97---1.34
    After Tax Held0.892.864.782.48-0.340.04--0.73
    After Tax Sold0.601.893.062.390.140.47--1.05
    Quarter End as of 03/31/17
    1 MO3 MOYTD1 YR3 YR5 YR10 YRLIFE
    05/11/11**
    EMAG (NAV)0.954.314.314.981.001.21--2.00
    EMAG (Share Price)1.776.506.506.921.261.25--1.98
    MVEMAG (Index)**1.054.704.706.661.792.29--3.33
    Performance Differential (NAV - Index)-0.10-0.39-0.39-1.68-0.79-1.08---1.33
    After Tax Held0.823.863.863.36-0.35-0.14--0.59
    After Tax Sold0.542.442.442.800.140.34--0.95

    *Returns less than one year are not annualized.

    **Effective December 10, 2013, Market Vectors LatAm Aggregate Bond ETF (BONO) changed its name to VanEck Vectors Emerging Markets Aggregate Bond ETF (EMAG). The Fund’s investment objective changed to seeking to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS EM Aggregate Bond Index (MVEMAG), from seeking to replicate as closely as possible, before fees and expenses, the price and yield performance of the BofA Merrill Lynch Broad Latin America Bond Index (LATS). Performance data prior to December 10, 2013, reflects that of BONO and LATS. Performance data from December 10, 2013, and on, reflects that of EMAG and MVEMAG. Performance history which includes periods prior to December 10, 2013 reflects a blend of the performance of EMAG and BONO and MVEMAG and LATS and is not intended for third party use.

    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.

  • Daily HoldingsTop 10 Holdings (%)as of 04/30/17

    Total Holdings: 149
    Holding Name
    Coupon
    		Maturity
    Composite
    Rating
    Country†
    Currency
    		% of Net
    Assets
    Mexican Bonos
    8.000
    06/11/2020
    A-
    Mexico
    MXN
    		1.95
    Thailand Government Bond
    3.625
    06/16/2023
    BBB+
    Thailand
    THB
    		1.84
    Brazil Notas Do Tesouro Nacional Ser F
    10.000
    01/01/2021
    BB
    Brazil
    BRL
    		1.53
    Gazprom Oao Via Gaz Capital Sa
    6.510
    03/07/2022
    BB+
    Russian Federation
    USD
    		1.48
    Indonesia Government International Bond
    5.875
    03/13/2020
    BB+
    Indonesia
    USD
    		1.40
    Colombia Government International Bond
    7.750
    04/14/2021
    BBB
    Colombia
    COP
    		1.30
    Republic Of South Africa Government Bon
    7.750
    02/28/2023
    BBB-
    South Africa
    ZAR
    		1.28
    Malaysia Government Bond
    3.480
    03/15/2023
    NR
    Malaysia
    MYR
    		1.25
    Turkey Government International Bond
    7.375
    02/05/2025
    BB
    Turkey
    USD
    		1.25
    Russian Federal Bond - Ofz
    8.152
    02/03/2027
    BB+
    Russian Federation
    RUB
    		1.25
    Top 10 Total (%)14.53

    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
    • ■

      MEXICO

      9.48
    • ■

      BRAZIL

      9.04
    • ■

      CHINA

      8.44
    • ■

      RUSSIA

      6.90
    • ■

      INDONESIA

      6.53
    • ■

      TURKEY

      6.02
    • ■

      SOUTH AFRICA

      4.55
    • ■

      COLOMBIA

      4.44
    • ■

      POLAND

      4.43
    • ■

      ISRAEL

      4.12
    • ■

      MALAYSIA

      3.65
    • ■

      THAILAND

      3.62
    • ■

      UAE

      3.04
    • ■

      QATAR

      2.05
    • ■

      CHILE

      2.01
    • ■

      PERU

      1.98
    • ■

      HUNGARY

      1.97
    • ■

      INDIA

      1.64
    • ■

      CROATIA

      1.30
    • ■

      ROMANIA

      1.18
    • ■

      Other/Cash

      13.64

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

    • U.S. Dollar

      55.86

    • Euro

      5.34

    • Brazilian Real

      4.03

    • Mexican Peso

      3.90

    • Polish Zloty

      3.70

    • Indonesian Rupiah

      3.67

    • Thai Baht

      3.62

    • South African Rand

      3.32

    • Malaysian Ringgit

      2.81

    • Russian Ruble

      2.41

    • Turkish Lira

      2.39

    • Colombian Peso

      2.14

    • Israeli Shekel

      2.00

    • Hungarian Forint

      1.22

    • New Romanian Leu

      0.76

    • Peruvian New Sol

      0.65

    • Czech Koruna

      0.42

    • Nigeria Naira

      0.32

    • Chilean Peso

      0.10

    • Other/Cash

      1.35

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

    • Sector

      % of Net Assets
    • ■

      Government

      57.1
    • ■

      Energy

      13.3
    • ■

      Financial

      12.1
    • ■

      Utilities

      5.2
    • ■

      Communications

      4.9
    • ■

      Consumer, Non-cyclical

      2.3
    • ■

      Basic Materials

      1.6
    • ■

      Diversified

      1.4
    • ■

      Industrial

      0.7
    • ■

      Other/Cash

      1.4

  • Credit Quality (%) as of 04/30/17

    Composite % of Net Assets
    Investment Grade AA 2.63
    A 21.64
    BBB 29.72
    Non-Investment Grade BB 33.21
    B 2.02
    CCC 1.95
    Total Investment Grade -- 53.99
    Total Non-Investment Grade -- 37.17
    Not Rated -- 8.51
    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.

  • Maturity (%) as of 04/30/17

    Average Portfolio Maturity: 6.25 Years

  • 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.

    §Effective December 10, 2013, VanEck Vectors LatAm Aggregate Bond ETF (BONO) changed its name to VanEck Vectors Emerging Markets Aggregate Bond ETF (EMAG). The Fund's investment objective changed to seeking to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS EM Aggregate Bond Index (MVEMAG), from seeking to replicate as closely as possible, before fees and expenses, the price and yield performance of the BofA Merrill Lynch Broad Latin America Bond Index (LATS). Performance data prior to December 10, 2013, reflects that of BONO and LATS. Performance data from December 10, 2013, and on, reflects that of EMAG and MVEMAG. Performance history which includes periods prior to December 10, 2013 reflects a blend of the performance of EMAG and BONO and MVEMAG and LATS and is not intended for third party use.

    130-Day SEC Yield is a standard yield calculation developed by the Securities and Exchange Commission that allows for fairer comparisons primarily among bond 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. In the absence of temporary expense waivers or reimbursements, the 30-Day SEC Yield for VanEck Vectors Emerging Markets Aggregate Bond ETF would have been 3.05% on 05/23/2017.The Distribution Yield is the annual yield an investor would receive if the most recent fund distribution stayed the same going forward. The yield represents a single distribution from the fund and does not represent the total return of the fund.  The yield is calculated by annualizing the most recent distribution and dividing by the fund NAV from the as-of date. The 12-Month Yield is the yield an investor would have received if they had held the fund over the last 12 months assuming the most recent NAV. The 12-month yield is calculated by summing any income distributions over the past 12 months and dividing by the sum of the most recent NAV and any capital gain distributions made over the past 12 months. Yield information reflects temporary waivers of expenses and/or fees. Yields would have been reduced had these fees/expenses been included.

    2EMAG 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 interest expense, offering costs, trading expenses, taxes and extraordinary expenses) from exceeding 0.49% of the Fund's average daily net assets per year until at least September 1, 2017. 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. 

    4 These 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. 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.

    5IIV 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.

    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.

    An investment in the Fund may be subject to risk which include, among others, credit risk, call risk, interest rate risk, and sovereign and quasi-sovereign defaults, all of which may adversely affect the Fund. High yield bonds may be subject to greater risk of loss of income and principal and are likely to be more sensitive to adverse economic changes than higher rated securities. International investing involves additional risks which include greater market volatility, the availability of less reliable financial information, higher transactional and custody costs, taxation by foreign governments, decreased market liquidity and political instability. Changes in currency exchange rates may negatively impact the Fund's return. Investments in emerging markets securities are subject to elevated risks which include, among others, expropriation, confiscatory taxation, issues with repatriation of investment income, limitations of foreign ownership, political instability, armed conflict and social instability. 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.

    After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after tax returns depend on the investor's tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their fund shares throughtax-deferred arrangements such as 401(k) plans or individual retirement.

    MVIS EM Aggregate Bond 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 VanEck Vectors Emerging Markets Aggregate Bond 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.

    Country of Risk: Country of risk is defined using the International Organization for Standardization’s (ISO) country codes which take four factors into account (listed in order of importance): management location, country of primary listing, country of revenue and reporting currency of the issuer. Management location is defined by country of domicile unless location of such key players as the CEO, CFO, COO or General Counsel is otherwise. For sovereign bonds, the country of domicile is used.

    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.

    The performance data quoted represents past performance. Past performance is not a guarantee of future results. Performance information for the Fund reflects temporary waivers of expenses and/or fees. Had the Fund incurred all expenses, investment returns would have been reduced. Investment return and value of the shares of the Fund will fluctuate so that an investor's shares, when sold, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted. Fund returns reflect dividends and capital gains distributions. Performance current to the most recent month end is available by calling 800.826.2333 or on this web page.

    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.

     

Van Eck Securities Corporation, Distributor
666 Third Avenue
New York, NY 10017
800.826.2333

 



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