Menu
Contact
Individual Investors

Subscribe to email updates

Subscribe now

Financial Professionals

Subscribe to email updates, or password protected financial professional-only content
email address/username
password
New? Register Here
Forgot Password

FLTR
VanEck Vectors Investment Grade Floating Rate ETF

  • Fund Description

    VanEck Vectors® Investment Grade Floating Rate ETF (FLTR®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS™ US Investment Grade Floating Rate Index (MVFLTR), which consists of U.S. dollar denominated floating rate notes issued by corporate issuers and rated investment grade by at least one of the three rating services: Moody's, S&P or Fitch.

  •  
      

    • Fund Ticker

      FLTR

    • Exchange

      NYSE Arca

    • Commencement

      04/25/2011

    • ETF Structure

      Physical

    • Administrator

      Van Eck Associates

    • Custodian

      Bank of New York Mellon

    • Index Ticker

      MVFLTR

    • Index Rebalancing

      Monthly

    • 2017 Preliminary NAIC
      Designation8

      1

  •  
    as of 06/26/17

    • 30-Day SEC Yield1

      1.14%

    • Total Net Assets

      $158.5M

    • Number of Holdings

      178

    • Options

      Expected

    • Gross Expense Ratio2

      0.48%

    • Net Expense Ratio/TER2

      0.14%

    • Distribution Frequency

      Monthly

    • Next Distribution Date

      06/30/2017
    1,2,8 See Important Disclosure. 

  • Morningstar™ Ratings3
    as of 5/31/17

    Category Overall 3 Year 5 Year
    Ultrashort Bond
         
    5 stars of 134 Funds
        
    4 stars of 134 Funds
         
    5 stars of 101 Funds

  • Key Points

    • Potential to Benefit from Rising Rates7
      Floating rate notes have variable coupons that reset periodically

    • Investment Grade Credit Quality
      Underlying index is comprised of a non-leveraged portfolio of investment grade floating rate corporate bonds

    • Short Duration and Income Potential
      Floating rate notes may offer higher yields than other short duration instruments

  • Yield
    as of 06/26/17

    • 30-Day SEC Yield1

      1.14%

    • Distribution Yield1

      1.69%

    • 12-Month Yield1

      1.36%
     1 See Important Disclosure for definitions.

  • Fees & Expenses2

    • Management Fee

      0.35%

    • Other Expenses

      0.13%

    • Acquired Fund Fees and Expenses

      --

    • Gross Expense Ratio

      0.48%

    • Fee Waivers and
      Expense Reimbursement

      -0.34%

    • Net Expense Ratio/TER2

      0.14%
    2Expenses for FLTR are capped contractually at 0.14% until 09/01/17. Cap excludes certain expenses, such as interest.

  • Trading Information

    • Fund Ticker

      FLTR

    • Index Total Return Ticker

      MVFLTR

    • NAV

      FLTRNV

    • Intraday NAV (IIV)5

      FLTRIV

    • Shares Outstanding

      6,300,000

    • Estimated Cash

      FLTREU

    • Total Cash

      FLTRTC

    • CUSIP

      92189F486

    • ISIN

      US92189F4862
    5See IIV Details. Source: Bloomberg

  • Fundamentals4
    as of 06/26/17

    • Yield to Worst

      1.87%

    • Yield to Maturity

      1.88%

    • Effective Duration (yrs)

      0.13

    • Years to Maturity

      3.66

    • Modified Duration (yrs)

      0.12

    • Spread Duration (yrs)

      3.28

    • Coupon

      2.17%
     4 See Important Disclosure for definitions.

  • Prices as of 06/26/17

    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
    FLTR $25.15
    $25.20     		41,635
    30,876     		$0.00 / +0.01%
    $0.01 / +0.04%     		+1.6%
    +1.6%
    		 $0.05
    0.18%

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

    1 MO3 MOYTD1 YR3 YR5 YR10 YRLIFE
    04/25/11
    FLTR (NAV)0.170.561.392.681.101.68--1.09
    FLTR (Share Price)0.090.401.352.801.172.23--1.11
    MVFLTR (Index)0.230.651.393.281.552.10--1.57
    Performance Differential (NAV - Index)-0.06-0.090.00-0.60-0.45-0.42---0.48
    After Tax Held0.110.401.122.090.691.31--0.73
    After Tax Sold0.100.320.791.510.651.12--0.68
    Quarter End as of 03/31/17
    1 MO3 MOYTD1 YR3 YR5 YR10 YRLIFE
    04/25/11
    FLTR (NAV)0.231.061.062.971.061.56--1.06
    FLTR (Share Price)0.231.171.173.601.172.01--1.11
    MVFLTR (Index)0.220.970.973.581.512.01--1.54
    Performance Differential (NAV - Index)0.010.090.09-0.61-0.45-0.45---0.48
    After Tax Held0.180.890.892.420.681.19--0.71
    After Tax Sold0.130.600.601.680.641.03--0.66

    *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.

  • Daily HoldingsTop 10 Holdings (%)as of 05/31/17

    Total Holdings: 188
    Holding Name
    Coupon
    		Maturity
    Composite
    Rating
    Country†
    Currency
    		% of Net
    Assets
    Morgan Stanley
    2.336
    01/20/2022
    BBB+
    U.S.
    USD
    		2.73
    Wells Fargo & Co
    2.402
    10/31/2023
    A
    U.S.
    USD
    		2.11
    Morgan Stanley
    2.556
    04/21/2021
    BBB+
    U.S.
    USD
    		2.00
    Jpmorgan Chase & Co
    2.383
    10/24/2023
    A-
    U.S.
    USD
    		1.98
    Mizuho Financial Group Inc
    2.260
    09/13/2021
    A-
    Japan
    USD
    		1.86
    Wells Fargo & Co
    1.783
    04/23/2018
    A
    U.S.
    USD
    		1.71
    Citigroup Inc
    2.632
    09/01/2023
    BBB+
    U.S.
    USD
    		1.69
    Citigroup Inc
    2.532
    03/30/2021
    BBB+
    U.S.
    USD
    		1.45
    Citigroup Inc
    2.360
    08/02/2021
    BBB+
    U.S.
    USD
    		1.44
    Siemens Financieringsmaatschappij Nv
    1.747
    03/16/2022
    A+
    Germany
    USD
    		1.43
    Top 10 Total (%)18.40

    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 05/31/17

    • Country

      % of Net Assets
    • ■

      UNITED STATES

      63.28
    • ■

      JAPAN

      8.38
    • ■

      AUSTRALIA

      5.91
    • ■

      CANADA

      5.11
    • ■

      UNITED KINGDOM

      5.01
    • ■

      SWITZERLAND

      3.51
    • ■

      NETHERLANDS

      3.05
    • ■

      GERMANY

      1.75
    • ■

      FRANCE

      0.84
    • ■

      MEXICO

      0.70
    • ■

      SWEDEN

      0.52
    • ■

      SPAIN

      0.43
    • ■

      BELGIUM

      0.37
    • ■

      SINGAPORE

      0.32
    • ■

      NORWAY

      0.30
    • ■

      CHINA

      0.23
    • ■

      DENMARK

      0.19
    • ■

      Other/Cash

      0.10

  • Currency Exposure (%)
    as of 05/31/17

    • U.S. Dollar

      99.90

    • Other/Cash

      0.10

  • Sector Weightings (%) as of 05/31/17

    • Sector

      % of Net Assets
    • ■

      Financial

      78.4
    • ■

      Technology

      5.0
    • ■

      Energy

      4.3
    • ■

      Consumer, Cyclical

      4.2
    • ■

      Communications

      3.7
    • ■

      Consumer, Non-cyclical

      2.9
    • ■

      Industrial

      1.4
    • ■

      Other/Cash

      0.1

  • Credit Quality (%) as of 05/31/17

    Composite % of Net Assets
    Investment Grade AAA 0.26
    AA 20.81
    A 40.68
    BBB 38.25
    Total Investment Grade -- 100.00
    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 05/31/17

    Average Portfolio Maturity: 3.57 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.

    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. Distributions may vary from time to time. In the absence of temporary expense waivers or reimbursements, the 30-Day SEC Yield for VanEck Vectors Investment Grade Floating Rate ETF would have been 0.86% on 06/26/2017. 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.

    2FLTR Fees & Expenses: "Other Expenses" are based on estimated amounts for the current fiscal year. 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 acquired fund fees and expenses, interest expense, offering costs, trading expenses, taxes and extraordinary expenses) from exceeding 0.14% 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.

    4These 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. Spread Duration measures a bond's price sensitivity to a 100 basis point change to its option-adjusted spread. As the rate of the Treasury security in the option-adjusted spread increases, the rate of the option-adjusted spread also increases. 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 yields presented 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.

    7Floating rate notes are less sensitive to interest rate changes, but may decline in value if their interest rates do not rise as much or as quickly as interest rates in general.

    8Preliminary NAIC Designations are the intellectual property of the National Association of Insurance Commissioners (NAIC) and are redistributed here under License. A Preliminary NAIC Designation is an opinion of the NAIC Securities Valuation Office (SVO) of the probable credit quality designation that would be assigned by the SVO to an investment if purchased by an insurance company and reported to the SVO. A Preliminary NAIC Designation is only one of the regulatory factors considered by the SVO as part of its analysis of probable regulatory treatment under the Regulatory Treatment Analysis Service (RTAS). A full discussion of such other regulatory factors is set forth in the RTAS Letter provided to Van Eck Associates Corporation. A Preliminary NAIC Designation cannot be used to report the ETF to state insurance regulators. However, the purchasing insurance company may obtain an NAIC Designation for the ETF by filing the security and final documents for the ETF with the SVO. The indication of probable regulatory treatment indicated by a Preliminary NAIC Designation is not a recommendation to purchase the ETF and is not intended to convey approval or endorsement of the ETF Sponsor or the ETF by the NAIC.

    The SVO of the NAIC assesses the credit quality of fixed income securities owned by state-regulated insurance companies and assigns appropriate NAIC designations, ranging from the highest quality of 1 to the lowest of 6. Designations only measure credit risk and do not measure other risks or factors such as volatility, interest rate, prepayment, extension or liquidity risk.

    An investment in the Fund may be subject to risk which include, among others, credit rating downgrades, issuers may be unable and/or unwilling to make timely interest payments an/or repay the principal on its debt, call risk, and interest rate risk, all of which may adversely affect the Fund. 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.

    VanEck Vectors Investment Grade Floating Rate ETF is not sponsored, issued or advised by Wells Fargo & Company, Wells Fargo Securities, LLC or any of their affiliates. The MVIS US Investment Grade Floating Rate Index is the exclusive property of MV Index Solutions GmbH (a wholly owned subsidiary of the Adviser), which has contracted with Wells Fargo to create and maintain and with Interactive Data Pricing and Reference Data, LLC to calculate the Index. Neither Wells Fargo nor Interactive Data Pricing and Reference Data, LLC guarantees the accuracy and/or completeness of the Index or of any data supplied by it or its agents or makes any warranty as to the results to be obtained from investing in the Fund or tracking the Index. The Index is calculated by Interactive Data Pricing and Reference, LLC, which is not an adviser for or fiduciary to the Fund, and, like Wells Fargo, is not responsible for any direct, indirect or consequential damages associated with indicative optimized portfolio values and/or indicative intraday values. The VanEck Vectors Investment Grade Floating Rate 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.

    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

 



© VanEck. VanEck™, VanEck Vectors®, VanEck Access the opportunities™, and the VanEck design™ are trademarks of Van Eck Associates Corp.