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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.

 
 

  • Fund Ticker

    FLTR

  • Exchange

    NYSE Arca

  • ETF Structure

    Physical

  • Administrator

    Van Eck Associates

  • Custodian

    State Street Bank and Trust Company

  • Index Ticker

    MVFLTR

  • Index Rebalancing

    Monthly

  • 2020 Preliminary NAIC
    Designation8

    1

 
as of 10/29/20

  • 30-Day SEC Yield1

    0.63%

  • Total Net Assets

    $440.3M

  • Number of Holdings

    259

  • Options

    Expected

  • Gross Expense Ratio2

    0.40%

  • Net Expense Ratio/TER2

    0.14%

  • Distribution Frequency

    Monthly
1,2,8 See Important Disclosure. 

Morningstar™ Ratings3
as of 09/30/2020

Category Overall 3 Year 5 Year
Ultrashort Bond
5 stars of 168 funds
4 stars of 168 funds
5 stars of 130 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
  • Near-Zero Duration with Enhanced Yield Potential
    Floating rate notes may offer higher yields than other short duration instruments

Yield
as of 10/29/20

  • 30-Day SEC Yield1

    0.63%

  • Distribution Yield1

    0.88%

  • 12-Month Yield1

    1.92%
 1 See Important Disclosure for definitions.

Fees & Expenses2

  • Management Fee

    0.35%

  • Other Expenses

    0.05%

  • Acquired Fund Fees and Expenses

    --

  • Gross Expense Ratio

    0.40%

  • Fee Waivers and
    Expense Reimbursement

    -0.26%

  • Net Expense Ratio/TER2

    0.14%
2Expenses for FLTR are capped contractually at 0.14% until September 1, 2021. Cap excludes acquired fund fees and expenses, interest expense, trading expenses, taxes and extraordinary expenses.

Trading Information

  • Fund Ticker

    FLTR

  • Index Total Return Ticker

    MVFLTR

  • NAV

    FLTRNV

  • Intraday NAV (IIV)5

    FLTRIV

  • Shares Outstanding

    17,450,000

  • Estimated Cash

    FLTREU

  • Total Cash

    FLTRTC

  • CUSIP

    92189F486

  • ISIN

    US92189F4862
5See IIV Details. Source: Bloomberg

Fundamentals4
as of 10/29/20

  • Yield to Worst

    0.71%

  • Yield to Maturity

    0.80%

  • Effective Duration (yrs)

    0.07

  • Years to Maturity

    2.73

  • Modified Duration (yrs)

    0.13

  • Spread Duration (yrs)

    2.21

  • Coupon

    1.14%
 4 See Important Disclosure for definitions.

Prices as of 10/29/20

NAV/
Market 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 		30-Day
Median
Bid Ask
Spread 		NAV
Chart
FLTR $25.23
$25.21		 94,368
87,500		 $0.00 / +0.00%
$0.01 / +0.04%		 +1.30%
+1.08%
 $-0.02
-0.09%		 0.04%

Premium/Discount History as of 10/29/20

Calendar Year 2019 4Q 2019 1Q 2020 2Q 2020 3Q 2020 Premium/Discount Charts NAV & Prem/Discount History
Days closed at a premium 66 40 32 22 26
FLTR Days closed at NAV 50 18 6 7 15
Days closed at a discount 136 6 24 34 23

Performance History: Average Annual Total Returns* (%)
View All ETFs View All Indices

1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
04/25/11
FLTR (NAV) 0.04 1.00 1.16 1.96 2.54 2.38 -- 1.60
FLTR (Share Price) -0.16 1.01 1.03 2.00 2.44 2.40 -- 1.60
MVFLTR (Index) 0.05 1.06 1.19 2.27 2.77 2.72 -- 2.00
Performance Differential (NAV - Index) -0.01 -0.06 -0.03 -0.31 -0.23 -0.34 -- -0.40
1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
04/25/11
FLTR (NAV) 0.04 1.00 1.16 1.96 2.54 2.38 -- 1.60
FLTR (Share Price) -0.16 1.01 1.03 2.00 2.44 2.40 -- 1.60
MVFLTR (Index) 0.05 1.06 1.19 2.27 2.77 2.72 -- 2.00
Performance Differential (NAV - Index) -0.01 -0.06 -0.03 -0.31 -0.23 -0.34 -- -0.40

*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 "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.

Top 10 Holdings (%) as of 09/30/20 Daily Holdings

Total Holdings: 280
Swipe
to view
full data
Holding Name
Coupon
Maturity
Composite
Rating
Country†
Currency
% of Net
Assets
GOLDMAN SACHS GROUP INC/THE
1.006
02/23/2023
A3
United States
USD
2.02
MORGAN STANLEY
1.664
10/24/2023
A3
United States
USD
1.93
JPMORGAN CHASE & CO
1.494
10/24/2023
A2
United States
USD
1.58
CITIGROUP INC
1.676
09/01/2023
A3
United States
USD
1.57
WELLS FARGO & CO
1.491
10/31/2023
A2
United States
USD
1.53
HSBC HOLDINGS PLC
1.270
05/18/2024
A2
United Kingdom
USD
1.51
GOLDMAN SACHS GROUP INC/THE
1.856
11/28/2023
A3
United States
USD
1.41
VERIZON COMMUNICATIONS INC
1.380
05/15/2025
Baa1
United States
USD
1.39
MORGAN STANLEY
1.463
05/08/2024
A3
United States
USD
1.34
AT&T INC
1.429
06/12/2024
Baa1
United States
USD
1.27
Top 10 Total (%) 15.55

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. 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.

Country Weightings (%) as of 09/30/20

  • Country

    % of Net Assets
  • ■

    United States

    54.44
  • ■

    Japan

    9.96
  • ■

    United Kingdom

    9.57
  • ■

    Australia

    6.59
  • ■

    Canada

    4.99
  • ■

    Switzerland

    3.78
  • ■

    Germany

    3.01
  • ■

    Netherlands

    1.49
  • ■

    China

    1.49
  • ■

    France

    1.31
  • ■

    Spain

    1.03
  • ■

    Sweden

    0.91
  • ■

    Singapore

    0.23
  • ■

    Norway

    0.18
  • ■

    South Korea

    0.10
  • ■

    Other/Cash

    0.90

Currency Exposure (%)
as of 09/30/20

  • U.S. Dollar

    99.10

  • Other/Cash

    0.90

Sector Weightings (%) as of 09/30/20

  • Sector

    % of Net Assets
  • ■

    Financial

    78.7
  • ■

    Communications

    5.7
  • ■

    Consumer, Cyclical

    3.6
  • ■

    Consumer, Non-cyclical

    3.5
  • ■

    Industrial

    2.3
  • ■

    Energy

    1.8
  • ■

    Technology

    1.8
  • ■

    Utilities

    1.7
  • ■

    Other/Cash

    0.9

Credit Quality (%) as of 09/30/20

Composite % of Net Assets
Investment Grade AAA 0.60
AA 13.43
A 67.99
BBB 17.98
Total Investment Grade -- 100.00
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 09/30/20

 Average Portfolio Maturity: 2.73 Years