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GRNB
VanEck Vectors Green Bond ETF

  • Fund Description

    VanEck Vectors® Green Bond ETF (GRNB®) seeks to replicate, as closely as possible, before fees and expenses, the price and yield performance of the S&P Green Bond Select Index (SPGRNSLT). The index is comprised of labeled green bonds that are issued to finance environmentally friendly projects, and includes bonds issued by supranational, government, and corporate issuers globally in multiple currencies.

  •  
      

    • Fund Ticker

      GRNB

    • Exchange

      NYSE Arca

    • Commencement

      03/03/2017

    • ETF Structure

      Physical

    • Administrator

      Van Eck Associates

    • Custodian

      Bank of New York Mellon

    • Index Ticker

      SPGRNSLT

    • Index Rebalancing

      Monthly

  •  
    as of 11/13/18

    • 30-Day SEC Yield1

      1.75%

    • Total Net Assets

      $25.2M

    • Number of Holdings

      171

    • Options

      Expected

    • Gross Expense Ratio2

      1.56%

    • Net Expense Ratio/TER2

      0.30%

    • Distribution Frequency

      Monthly

    • Next Distribution Date

      11/30/2018
    1,2 See Important Disclosure. 

  • Country Weightings (%) as of 10/31/18

    • Country

      % of Net Assets
    • ■

      FRANCE

      19.63
    • ■

      SUPRA-NATIONAL

      17.07
    • ■

      GERMANY

      11.38
    • ■

      NETHERLANDS

      6.20
    • ■

      UNITED STATES

      6.18
    • ■

      SPAIN

      6.00
    • ■

      CHINA

      4.39
    • ■

      CANADA

      3.51
    • ■

      ITALY

      2.57
    • ■

      JAPAN

      2.50
    • ■

      MEXICO

      2.46
    • ■

      SWEDEN

      2.45
    • ■

      UNITED KINGDOM

      2.35
    • ■

      NORWAY

      2.32
    • ■

      BRAZIL

      2.01
    • ■

      AUSTRALIA

      1.87
    • ■

      DENMARK

      1.53
    • ■

      SOUTH KOREA

      0.98
    • ■

      SINGAPORE

      0.92
    • ■

      POLAND

      0.71
    • ■

      Other/Cash

      3.00

  • Portfolio Composition (%)
    as of 10/31/18

    • % of Net Assets

    • Stocks

      0.00

    • Bonds

      99.98

    • Other

      0.00

    • Cash

      0.02

  • Currency Exposure (%)
    as of 10/31/18

    • Euro

      57.97

    • U.S. Dollar

      30.30

    • Swedish Krona

      3.78

    • Canadian Dollar

      3.06

    • British Pound

      2.66

    • Australian Dollar

      1.92

    • Swiss Franc

      0.29

    • Other/Cash

      0.02

  • Credit Quality (%) as of 10/31/18

    Composite % of Net Assets
    Investment Grade AAA 28.68
    AA 16.62
    A 20.44
    BBB 16.10
    Non-Investment Grade BB 2.51
    B 0.94
    Total Investment Grade -- 81.84
    Total Non-Investment Grade -- 3.45
    Not Rated -- 14.69
    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.

  • 3-YR Risk Measures*

    • Beta vs. S&P 500 Index

      --

    • Correlation vs. S&P 500 Index

      --

    • Volatility (Standard Deviation)

      --

    • Sharpe Ratio

      --

    Source: VanEck , FactSet

    *Beta is a measure of sensitivity to market movements. Correlation measures the extent of linear association between the ETF performance and the index performance. Volatility is the annualized standard deviation of the ETF's monthly returns. Sharpe ratio measures risk-adjusted return, and represents the ETF's return less the risk free rate divided by the standard deviation. See S&P 500 Index definition.6

  • Sector Weightings (%) as of 10/31/18

    • Sector

      % of Net Assets
    • ■

      Government

      34.2
    • ■

      Financial

      33.3
    • ■

      Utilities

      21.1
    • ■

      Industrial

      3.6
    • ■

      Consumer, Non-cyclical

      3.1
    • ■

      Basic Materials

      1.6
    • ■

      Energy

      1.2
    • ■

      Technology

      1.2
    • ■

      Consumer, Cyclical

      0.8
    • ■

      Other/Cash

      0.0

  • Maturity (%) as of 10/31/18

    Average Portfolio Maturity: 7.41 Years

Web Access Notice: VanEck is committed to ensuring accessibility of its website for investors and potential investors, including those with disabilities. If you have difficulty accessing any feature or functionality on the VanEck website, please feel free to call us at 800.826.2333 or email us at info@vaneck.com for assistance.
 

  • 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 among 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. 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.

    2GRNB 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 acquired fund fees and expenses, interest expense, trading expenses, taxes and extraordinary expenses) from exceeding 0.30% of the Fund's average daily net assets per year until at least September 1, 2019. 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".

    4These figures represent weighted 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. 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 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 risks which include, among others, green bonds, investing in European and emerging market issuers, foreign securities, foreign currency, credit, interest rate, high yield securities, supranational bond, government-related bond, restricted securities, securitized/asset-backed securities, financial services, utilities, market, operational, call, sampling, index tracking, authorized participant concentration, no guarantee of active trading market, trading issues, passive management, fund shares trading, premium/discount and liquidity of fund shares, non-diversified and concentration risks, all of which may adversely affect the Fund.

    The S&P Green Bond Select Index (the “Index”) is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”).  Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”) and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”). VanEck Vectors Green Bond ETF (the “Fund”) is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, any of their respective affiliates (collectively, “S&P Dow Jones Indices”). Neither S&P Dow Jones Indices make any representation or warranty, express or implied, to the owners of the Fund or any member of the public regarding the advisability of investing in securities generally or in the Fund particularly or the ability of the Index to track general market performance.  S&P Dow Jones Indices only relationship to Van Eck Associates Corporation (“VanEck”) with respect to the Index is the licensing of the Index and certain trademarks, service marks and/or trade names of S&P Dow Jones Indices and/or its licensors.  The Index is determined, composed and calculated by S&P Dow Jones Indices without regard to VanEck or the Fund. S&P Dow Jones Indices has no obligation to take the needs of VanEck or the owners of the Fund into consideration in determining, composing or calculating the Index. S&P Dow Jones Indices is not responsible for and has not participated in the determination of the prices, and amount of the Fund or the timing of the issuance or sale of the Fund or in the determination or calculation of the equation by which the Fund is to be converted into cash, surrendered or redeemed, as the case may be. S&P Dow Jones Indices have no obligation or liability in connection with the administration, marketing or trading of the Fund. There is no assurance that investment products based on the Index will accurately track index performance or provide positive investment returns.  S&P Dow Jones Indices LLC is not an investment advisor.  Inclusion of a security within an index is not a recommendation by S&P Dow Jones Indices to buy, sell, or hold such security, nor is it considered to be investment advice.  

    S&P DOW JONES INDICES DOES NOT GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS OF THE INDEX OR ANY DATA RELATED THERETO OR ANY COMMUNICATION, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO.  S&P DOW JONES INDICES SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. S&P DOW JONES INDICES MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY VANECK, OWNERS OF THE FUND, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE INDEX OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL S&P DOW JONES INDICES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. THERE ARE NO THIRD PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN S&P DOW JONES INDICES AND VANECK, OTHER THAN THE LICENSORS OF S&P DOW JONES INDICES.

    The S&P 500 Index is a product of S&P Dow Jones Indices LLC and/or its affiliates and has been licensed for use by Van Eck Associates Corporation. Copyright © 2018 S&P Dow Jones Indices LLC, a division of S&P Global, Inc., and/or its affiliates. All rights reserved. Redistribution or reproduction in whole or in part are prohibited without written permission of S&P Dow Jones Indices LLC. For more information on any of S&P Dow Jones Indices LLC’s indices please visit www.spdji.com. S&P® is a registered trademark of S&P Global and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC. Neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors make any representation or warranty, express or implied, as to the ability of any index to accurately represent the asset class or market sector that it purports to represent and neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors shall have any liability for any errors, omissions, or interruptions of any index or the data included therein.

    Index returns are not Fund returns and do not reflect any management fees or brokerage expenses. Certain indices may take into account withholding taxes. 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 vaneckcom/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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