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EMLC
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF

Fund Description

The VanEck Vectors® J.P. Morgan EM Local Currency Bond ETF (EMLC®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the J.P. Morgan GBI-EM Global Core Index (GBIEMCOR), which is comprised of bonds issued by emerging market governments and denominated in the local currency of the issuer.

 
 

  • Fund Ticker

    EMLC
  • Exchange

    NYSE Arca
  • Commencement

    07/22/2010
  • ETF Structure

    Physical
  • Administrator

    Van Eck Associates
  • Custodian

    Bank of New York Mellon
  • Index Ticker

    GBIEMCOR
  • Index Rebalancing

    Monthly
  • 2019 Preliminary NAIC Designation7

    3

 
as of 08/19/19

  • 30-Day SEC Yield1

    6.31%
  • Total Net Assets

    $5.1B
  • Number of Holdings

    284
  • Options

    Available
  • Gross Expense Ratio2

    0.46%
  • Net Expense Ratio/TER2

    0.30%
  • Distribution Frequency

    Monthly
  • Next Distribution Date

    08/30/2019
1,2,7 See Important Disclosure

Index Key Points

The J.P. Morgan GBI-EM Global Core Index (GBIEMCOR) comprises:

Local currency bonds issued by emerging market governments.

Market-cap weighted:
Country Max: 10%; Min: 3%  

Index Provider: J.P. Morgan

Index Profile

  • Ticker

    GBIEMCOR
  • Inception Date

    07/22/2010
  • Rebalance Frequency

    Monthly

Index Fundamentals4
as of 08/19/19

  • Yield to Worst

    6.42%
  • Yield to Maturity

    6.42%
  • Effective Duration (yrs)

    5.26
  • Years to Maturity

    7.69
  • Modified Duration (yrs)

    5.32
  • Coupon

    6.52%
 4 See Important Disclosure for definitions.

Top 10 Constituents (%) as of 07/31/19

Total Constituents: 219
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full data
Constituent Name
Coupon
Maturity Weighting (%)
Nota Do Tesouro Nacional
10.000
01/01/2023
1.84
Dominican Republic
9.750
06/05/2026
1.68
Republica Orient Uruguay
9.875
06/20/2022
1.65
Republic Of South Africa
10.500
12/21/2026
1.46
Nota Do Tesouro Nacional
10.000
01/01/2021
1.41
Republic Of Philippines
6.250
01/14/2036
1.38
Nota Do Tesouro Nacional
10.000
01/01/2025
1.38
Republica Orient Uruguay
8.500
03/15/2028
1.35
Dominican Republic
8.900
02/15/2023
1.32
Republic Of Argentina
15.500
10/17/2026
1.30
Top 10 Total (%) 14.77
These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Index Country Weightings (%) as of 07/31/19

  • Country

    % of Net Assets
  • Brazil

    10.00
  • Mexico

    10.00
  • Indonesia

    10.00
  • South Africa

    8.45
  • Poland

    7.97
  • Thailand

    7.83
  • Russia

    6.84
  • Colombia

    4.75
  • Malaysia

    4.16
  • Turkey

    3.00
  • Romania

    3.00
  • Czech

    3.00
  • Dominican Repb.

    3.00
  • Argentina

    3.00
  • Uruguay

    3.00
  • Peru

    3.00
  • Philippines

    3.00
  • Hungary

    3.00
  • Chile

    3.00

Index Sector Weightings (%) as of 07/31/19

  • Sector

    % of Net Assets
  • Government

    100.0

Index Credit Quality (%) as of 07/31/19

Composite % of Net Assets
Investment Grade A 12.41
BBB 36.01
Non-Investment Grade BB 21.45
Total Investment Grade -- 48.42
Total Non-Investment Grade -- 21.45
Not Rated -- 30.13
Source: Bloomberg. Rating is a proprietary composite of various rating agencies. A bond must be rated by two or more rating agencies to receive a composite rating; otherwise it is classified as Not Rated.

Maturity (%) as of 07/31/19

 Average Maturity: 7.69 Years