EMLCVanEck 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 -
ETF Structure
Physical -
Administrator
Van Eck Associates -
Custodian
State Street Bank and Trust Company -
Index Ticker
GBIEMCOR -
Index Rebalancing
Monthly -
2020 NAIC Designation7
3.A
as of 02/25/21
-
30-Day SEC Yield1
4.07% -
Total Net Assets
$3.4B -
Number of Holdings
306 -
Options
Available -
Gross Expense Ratio2
0.36% -
Net Expense Ratio/TER2
0.30% -
Distribution Frequency
Monthly
Key Points
- Seeks to replicate the J.P. Morgan GBI-EM Global Core Index
- Access to local bond markets in emerging economies
- Provides yields that are currently higher than developed markets and potential for currency appreciation
Yield
as of 02/25/21
-
30-Day SEC Yield1
4.07% -
Distribution Yield1
4.67% -
12-Month Yield1
4.93%
Fees & Expenses2
-
Management Fee
0.27% -
Other Expenses
0.09% -
Acquired Fund Fees and Expenses
-- -
Gross Expense Ratio
0.36% -
Fee Waivers andExpense Reimbursement
-0.06% -
Net Expense Ratio/TER2
0.30%
Trading Information
-
Fund Ticker
EMLC -
Index Total Return Ticker
GBIEMCOR -
NAV
EMLCNV -
Intraday NAV (IIV)5
EMLCIV -
Shares Outstanding
105,922,682 -
Estimated Cash
EMLCEU -
Total Cash
EMLCTC -
CUSIP
92189H300 -
ISIN
US92189H3003
Fundamentals4
as of 02/25/21
-
Yield to Worst
4.52% -
Yield to Maturity
4.56% -
Effective Duration (yrs)
5.07 -
Years to Maturity
6.66 -
Modified Duration (yrs)
5.16 -
Coupon
5.54%
Investment Professionals
Francis G. Rodilosso, CFA
- Portfolio Manager and Head of Fixed Income ETFs
- Responsible for portfolio strategies as well as credit and market analysis; specializes in international bond markets
- Joined VanEck in 2012
- Prior to VanEck, Managing Director of Global Emerging Markets with The Seaport Group; launched the firm’s emerging markets fixed income sales and trading business
- Previously, held portfolio management positions at Greylock Capital and Soundbrook Capital; focused on corporate high-yield and distressed bonds with an emphasis on emerging markets
- CFA charterholder; member of CFA Society New York
- MBA (with distinction), Finance, University of Pennsylvania
- AB, History, Princeton University
Daniel Cho
- Analyst for Fixed Income ETFs
- Joined VanEck in 2013
- Prior to his current role, held a portfolio administration position for the firm’s alternative investment funds
- MS, Finance, University of Rochester
- BS, Information Sciences and Technology, Pennsylvania State University
Stephanie Wang
- Quantitative Analyst for Fixed Income ETFs
- Joined VanEck in 2016
- MS, Financial Engineering, Baruch College
- BBA, Finance, Baruch College
Jared Model
- Trader for Fixed Income ETFs
- Joined VanEck in 2017
- Previously, Trader at Beck, Mack & Oliver LLC and monitored markets and executed equity and fixed income trades and Fixed Income Operations at Gleacher & Company Securities, Inc.
- MBA, Finance, Montclair State University
- BS, concentration in Accounting and Finance, minor in Computer Science, University of Vermont
Prices as of 02/25/21
Performance History: Average Annual Total Returns* (%)
1 MO | 3 MO | YTD | 1 YR | 3 YR | 5 YR | 10 YR | LIFE 07/22/10 |
|
---|---|---|---|---|---|---|---|---|
EMLC (NAV) | -0.80 | 7.90 | -0.80 | 2.79 | -0.28 | 5.04 | 0.76 | 1.23 |
EMLC (Share Price) | -1.48 | 7.46 | -1.48 | 2.40 | -0.37 | 4.96 | 0.64 | 1.19 |
GBIEMCOR (Index) | -1.05 | 8.09 | -1.05 | 3.50 | 0.27 | 5.72 | 1.46 | 1.95 |
Performance Differential (NAV - Index) | 0.25 | -0.19 | 0.25 | -0.71 | -0.55 | -0.68 | -0.70 | -0.72 |
1 MO | 3 MO | YTD | 1 YR | 3 YR | 5 YR | 10 YR | LIFE 07/22/10 |
|
---|---|---|---|---|---|---|---|---|
EMLC (NAV) | 3.14 | 9.14 | 2.98 | 2.98 | 1.47 | 5.31 | 0.71 | 1.32 |
EMLC (Share Price) | 3.22 | 9.11 | 3.11 | 3.11 | 1.51 | 5.36 | 0.65 | 1.34 |
GBIEMCOR (Index) | 3.54 | 9.70 | 3.46 | 3.46 | 1.99 | 5.99 | 1.39 | 2.07 |
Performance Differential (NAV - Index) | -0.40 | -0.56 | -0.48 | -0.48 | -0.52 | -0.68 | -0.68 | -0.75 |
Top 10 Holdings (%) as of 01/31/21 Daily Holdings
to view
full data
Holding Name |
Coupon
|
Maturity |
Composite
Rating |
Country†
|
Currency
|
% of Net Assets |
|
---|---|---|---|---|---|---|---|
BRAZIL LETRAS DO TESOURO NACIONAL |
0.000
|
01/01/2024
|
BB-
|
Brazil
|
BRL
|
2.42 | |
BRAZIL NOTAS DO TESOURO NACIONAL SERIE |
10.000
|
01/01/2023
|
BB-
|
Brazil
|
BRL
|
1.40 | |
BRAZIL LETRAS DO TESOURO NACIONAL |
0.000
|
07/01/2023
|
BB-
|
Brazil
|
BRL
|
1.22 | |
BRAZIL NOTAS DO TESOURO NACIONAL SERIE |
10.000
|
01/01/2025
|
BB-
|
Brazil
|
BRL
|
1.18 | |
BRAZIL NOTAS DO TESOURO NACIONAL SERIE |
10.000
|
01/01/2027
|
BB-
|
Brazil
|
BRL
|
1.09 | |
REPUBLIC OF SOUTH AFRICA GOVERNMENT BON |
8.000
|
01/31/2030
|
BB
|
South Africa
|
ZAR
|
0.99 | |
REPUBLIC OF SOUTH AFRICA GOVERNMENT BON |
8.750
|
02/28/2048
|
BB
|
South Africa
|
ZAR
|
0.97 | |
MEXICAN BONOS |
10.000
|
12/05/2024
|
BBB+
|
Mexico
|
MXN
|
0.88 | |
REPUBLIC OF SOUTH AFRICA GOVERNMENT BON |
10.500
|
12/21/2026
|
BB
|
South Africa
|
ZAR
|
0.87 | |
CHINA GOVERNMENT BOND |
2.850
|
06/04/2027
|
NR
|
China
|
CNY
|
0.85 | |
Top 10 Total (%) | 11.86 |
These are not recommendations to buy or to sell any security. Securities and holdings may vary.
Country Weightings (%) as of 01/31/21
-
Country
% of Net Assets -
■
China
10.24 -
■
Indonesia
9.29 -
■
Brazil
8.79 -
■
Mexico
8.61 -
■
Thailand
7.27 -
■
South Africa
7.13 -
■
Malaysia
5.70 -
■
Poland
5.60 -
■
Russia
4.75 -
■
Colombia
4.68 -
■
Supra-National
4.50 -
■
Hungary
3.79 -
■
Czech
3.66 -
■
Romania
3.22 -
■
Turkey
3.09 -
■
Peru
2.99 -
■
Chile
2.99 -
■
Dominican Repb.
1.19 -
■
Uruguay
1.18 -
■
Philippines
1.17 -
■
Other/Cash
0.16
Currency Exposure (%)
as of 01/31/21
-
Chinese Renminbi
10.24 -
Indonesian Rupiah
10.02 -
Mexican Peso
9.71 -
Brazilian Real
8.80 -
South African Rand
7.66 -
Thailand Baht
7.27 -
Polish Zloty
6.60 -
Russian Ruble
5.88 -
Malaysian Ringgit
5.70 -
Colombian Peso
4.68 -
Hungarian Forint
3.79 -
Czech Koruna
3.66 -
Romanian Leu
3.22 -
Turkish Lira
3.09 -
Peruvian New Sol
2.99 -
Chilean Peso
2.99 -
Dominican Rep. Peso
1.19 -
Uruguay Peso
1.18 -
Philippines Peso
1.17 -
Other/Cash
0.15
Sector Weightings (%) as of 01/31/21
-
Sector
% of Net Assets -
■
Government Activity
94.0 -
■
Financials
5.4 -
■
Industrials
0.2 -
■
Utilities
0.2 -
■
Energy
0.1 -
■
Other/Cash
0.1
Credit Quality (%) as of 01/31/21
Composite | % of Net Assets | |
---|---|---|
Investment Grade | AAA | 3.46 |
AA | 0.68 | |
A | 10.08 | |
BBB | 24.45 | |
Non-Investment Grade | BB | 16.57 |
CCC | 0.07 | |
Total Investment Grade | -- | 38.67 |
Total Non-Investment Grade | -- | 16.64 |
Not Rated | -- | 44.69 |
Maturity (%) as of 01/31/21
Average Portfolio Maturity: 6.72 Years